Santa Cruz Bankruptcy Lawyer – Help Is Here
Where do you start? What option should you choose? Where do you find help? A Santa Cruz Bankruptcy attorney can help. With years of experience, a Santa Cruz Bankruptcy lawyer can answer your questions and help you choose what is right for you. They can guide you through all the legal matters and give you the information you need. They can put an end to the continuous calls from debt collectors.
When filing for bankruptcy, your bankruptcy attorney will give you general information about the five chapters of bankruptcy and which best suits you. Chapter 7 deals with liquidation. Chapters 9, 11, 12, and 13 deal with debtor rehabilitation which involves a court-approved reorganization plan and a schedule of payment plans. Your bankruptcy attorney can decide what plan is best for you and guide you through the process.
Known as “straight bankruptcy”, Chapter 7 is what most people think of in terms of filing for bankruptcy. It is simply a liquidation of all assets. The money is then used to pay off debtors of all outstanding debts. A Santa Cruz attorney who specializes in bankruptcy has other solutions that might fit your case as well.
Chapter 9 is a process used for resolving municipal debts. More of a federal process, it covers towns, cities, villages, school districts, and such. Chapter 11 is like Chapter 9, except it is used for commercial businesses. This chapter allows businesses to keep running while paying off their debts.
With more and more farmers losing their livelihood, Chapter 12 can help by giving them a much needed break. A Santa Cruz lawyer that focuses on bankruptcies can turn in a debt relief plan which stretches out the payments for over three years. If more time is needed, the court can approve up to a five year extension.
Chapter 13 gives much needed debt relief to both consumers and individuals. Usually the most favored of chapters, Chapter 13 lets you keep your most valuable assets like houses and cars. Unlike Chapter 7, not all of your assets are liquidated. The plan of action for Chapter 13 is considered at a confirmation hearing and is either disapproved or approved.
You can put a stop to all those call from creditors. A Santa Cruz Bankruptcy attorney can help. The process of bankruptcy does not have to be complicated. A Santa Cruz Bankruptcy lawyer will make the process as simple as possible for you and choose the right chapter for you.
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