Del Mar Bankruptcy Lawyer
The idea of bankruptcy can seem intimidating for many, but when you’re working with a professional bankruptcy attorney, the process is much easier to navigate. The Law Offices of Marc Duxbury has been a dedicated law firm for decades, taking on clients and never turning our backs on any case that comes our way. For a bankruptcy lawyer in Del Mar that can provide you with representation and guidance on filing for bankruptcy, call our firm today.
When it comes to all matters of bankruptcy and knowing whether to file for bankruptcy is the step you should take, working with a dedicated and knowledgeable bankruptcy attorney in Del Mar can get you the advice you need. Many Del Mar clients turn to our firm because they know we have the experience from handling over thousands of bankruptcy cases, and will see their case from start to finish. To go bankrupt can be a big and anxiety-inducing step, but when you have a skilled Del Mar bankruptcy attorney at your side, you can be much more reassured throughout the process.
We know many clients who are considering bankruptcy are dealing with overwhelming debt, and we won’t add to that. We offer cost-effective expertise, aka, you get the big firm experience without the hefty price. How can a bankruptcy lawyer from our premier Del Mar firm help you today? Whether you are filing as an individual, couple, or looking to file business bankruptcy, you can get the support you need from our law firm. We will always fight for you, advocating to try and get you the relief you deserve.
How does one go about filing for bankruptcy? There are a few steps to take in the process, including speaking with a legal expert on whether bankruptcy is the right choice for you, as well as what form of bankruptcy to file for. The process for bankruptcy filing goes like this:
The first step is to always schedule a consultation to speak with a professional bankruptcy attorney.
During consultation, your financial situation will be thoroughly examined by one of our attorneys. Questions that may be asked of your financial situation may be something like: What debts have you acquired, why has repayment been difficult, and will you be able to repay those debts within a certain time frame? Do you rely on a steady stream of income? Are you a business owner? Have you received any threats of collection lawsuits?
The next key step is to review your financial options with one of our attorneys. This also means exploring non-bankruptcy options, such as debt negotiation or a settlement. Bankruptcy is not always the option for everybody, but one of our professional bankruptcy attorneys can let you know.
The final step is creating a debt relief plan. Filing for bankruptcy may be a part of this plan. If you are dealing with a number of conflicts from debt, such as wage garnishment, repossession, liens, and creditor harassment, our attorneys can offer legal representation in the event of any of these problems and other escalating collections lawsuits coming your way. If you are considering a divorce bankruptcy attorney because you and your soon-to-be ex spouse are looking into options for filing for bankruptcy jointly, one of our Del Mar attorneys can provide guidance as well.
Bankruptcy chapters are the types of bankruptcy plans you can qualify for. An attorney from our Del Mar law firm can provide a deeper explanation, as well as help you decide which plans works for your current situation. There are 3 common bankruptcy chapters.
Chapter 7 bankruptcy consists of a court-appointed trustee liquidating all of the debtor’s nonexempt property (as a debtor, you can file the motion to exempt some assets such as: houses, cars, life insurance, etc.) and sending funds acquired to the creditors. Chapter 7 bankruptcy is a low cost bankruptcy, which is beneficial if you have lost your main source of income or unable to repay debts within a certain timeframe. Many individuals choose this chapter of bankruptcy particularly if they have lost a job or are unable to pay within a certain timeframe. Some charges left after assets have been liquidated may end up getting discharged as well.
Chapter 11 bankruptcy (also referred to as corporate bankruptcy) is filed by businesses or individuals who want to keep their business open and operating. The business compiles a payment plan that is court-approved and supervised by a court-appointed trustee. This business bankruptcy chapter can allow for businesses to stay open while reducing assets and other finances for payment. This is known as a reorganization chapter of bankruptcy where assets and finances can be liquidated as well.
Chapter 13 bankruptcy allows people to repay a large portion of their debt within 3-5 years. There is also a court-approved plan made that will detail finances and payment agreements. While in this chapter, collectors of debts are deemed unable to attempt full collection, which can give many individuals a break from creditor harassment and other possible collection lawsuits. To qualify for chapter 13 bankruptcy, you must prove you have a reasonable source of income.
When it comes to filing for bankruptcy, you may not even be sure where to start, or if you even qualify for bankruptcy. This is where a legal professional from The Law Offices of Marc Duxbury comes in. We will explore all financial options, offer representation in collection lawsuits, and assist you with the bankruptcy filing process. Give our firm a call today to get started.