Encinitas Bankruptcy Lawyer
Bankruptcy can be an intimidating process for many. A bankruptcy attorney can offer the perfect legal guidance when it comes to exploring your financial options and deciding if bankruptcy is the next step for you. Whether you are considering individual bankruptcy, couple bankruptcy, or corporate bankruptcy, The Law Offices of Marc Duxbury is the law firm you can turn to to connect with a bankruptcy lawyer in Encinitas. We are a dedicated team of professionals who never turn our backs on clients seeking debt relief.
Declaring yourself or your business bankrupt may not seem like an easy task. Working with an Encinitas bankruptcy attorney from The Law Offices of Marc Duxbury can make the filing process a lot easier. How can you get started on the filing process with a trustworthy bankruptcy lawyer? Here are the steps you must take:
First thing’s first, schedule a consultation with our law firm to meet with a local Encinitas bankruptcy attorney. One of our attorneys will meet with you to go over your case thoroughly.
During consultation, your financial situation will be thoroughly examined by one of our attorneys. Questions that may be asked include: 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 have a steady stream of income? Are you a business owner? Will you liquidate assets? Have you received any 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 doesn’t have to be the final step for everybody, and you can determine this by speaking to a bankruptcy attorney in Encinitas from The Law Offices of Marc Duxbury. A professional bankruptcy legal expert will make sure to review all options, being realistic and giving you all the possible expectations for your case, along with much-needed legal expertise.
The final step is creating a debt relief plan. This is where you’ll learn to file for bankruptcy, if determined to be the best option. If you are dealing with a number of conflicts from debt, such as wage garnishment, repossession, liens, and creditor harassment, our attorneys can help fight these petitions and allow you to gain back the money needed for living expenses, while formulating your debt relief plan. We can also offer legal representation in the event of any 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, an Encinitas bankruptcy lawyer will also provide help.
If going bankrupt is the step you’re taking, it’s important to understand the sections of bankruptcy available. These sections, also known as chapters, can determine what form of debt relief may work for you, whether as an individual or business. The most common bankruptcy chapters are:
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 the funds acquired to the creditors. Chapter 7 bankruptcy is considered a low cost bankruptcy, which is beneficial if you have lost your main source of income or are not able 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 known as corporate bankruptcy) is filed by businesses or individuals who want to keep their business open and still 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 end up liquidated as well.
Chapter 13 bankruptcy allows debtors to repay a large portion of their debt within 3-5 years. 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. The biggest difference between chapter 7 and chapter 13 bankruptcies is those who want to file for chapter 13 bankruptcy must have a job with reasonable income.
The Law Offices of Marc Duxbury is a preferred law firm for many Encinitas residents because we are a dedicated team of attorneys who have handled thousands of bankruptcy cases. We know many clients are in serious debt, which is why we offer cost-effective expertise. Working with our firm allows you to have the big firm experience at a great price. We will focus on your case and stick beside you every step of the way, seeing your case from start to finish. For a law firm in Encinitas you can trust to handle your bankruptcy case and provide exceptional help with filing and other inquiries, you can turn to The Law Offices of Marc Duxbury.
Is your debt keeping you from living your life? Are you constantly facing creditor harassment, and have been threatened with lawsuits? The lawyers at The Law Offices of Marc Duxbury can provide you with the representation you need for any collection lawsuits, as well as expert legal aid in filing for the right chapter of bankruptcy. We will go over your financial situation in-depth and provide necessary aid. Contact us today.