Menifee Bankruptcy Lawyer
Bankruptcy can seem like that one overwhelming legal process that stops many individuals from possible debt relief. When you are working with a bankruptcy attorney, however, this process can become much easier to navigate. If you are looking for a dependable professional bankruptcy lawyer in Menifee, look no further. The team at The Law Offices of Marc Duxbury can provide help filing for bankruptcy, determine whether bankruptcy is the right choice for you, and much more.
Bankruptcy can seem like a terrifying idea for many. The truth is that filing for bankruptcy can be a form of debt relief that allows you time to make repayments. You may wonder, why work with a bankruptcy lawyer from our team? When you work with our firm, you can be sure that:
When wondering about bankruptcy and whether you should file for bankruptcy, a Menifee bankruptcy attorney from our team can be there to offer guidance and expertise. With our firm, you’re getting the big firm experience at a reasonable cost.
In our decades of practice, The Law Offices of Marc Duxbury has handled thousands of cases dealing with bankruptcy. A Menifee bankruptcy lawyer from our team has the experience and knowledge to successfully consult with you and represent you in a bankruptcy case.
We are a committed firm that will see your case from start to finish. You will feel reassured and confident throughout every legal process when working with our firm.
Not sure how the bankruptcy filing process will play out? Working with a Menifee bankruptcy lawyer from our team will make the process much less of a hassle for you. Here is what you can expect from the bankruptcy filing process with The Law Offices of Marc Duxby:
There’s no use in delaying sitting down with a legal professional from our team. The first step is to schedule your consultation for possible bankruptcy in a timely manner.
During consultation, your financial situation will be discussed in-depth. They may ask you a series of questions to get an idea of your financial situation, such as: Why is going bankrupt the right choice for you? Do you know what bankruptcy entails? What debts have you acquired, why has repayment been difficult, and will you be able to repay those debts within a certain time frame? Are you currently out of work? What assets do you have? Have you received any threats of legal action from creditors?
The next key step is to review your financial options alongside one of our lawyers. This also means exploring non-bankruptcy options, such as debt negotiation or a settlement. We will examine all financial options available to you while deciding if bankruptcy is the right choice, as well as what chapter of bankruptcy fits your situation. Bankruptcy is not for everybody, but one of our bankruptcy attorneys will let you know if that is the case.
The final step is to formulate a debt relief plan. Taking the step to 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 for any of these problems and other pending collection lawsuits. If you are also looking for 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 Menifee attorneys can take the job on. Couples who file bankruptcy before divorce may find more alleviated relief than filing individually, as the process can be less costly.
Bankruptcy chapters are the types of bankruptcy plans you can qualify for when filing for bankruptcy. The most common bankruptcy chapters you can file for 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 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. Some charges left after liquidation of assets may end up getting discharged.
Chapter 11 bankruptcy, which can also encompass corporate bankruptcy, is filed by businesses or individual business owners who want to keep their business open and operating during repayment. 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 chapter of bankruptcy is also known as a reorganization chapter, as it allows businesses to structure their finances and assets while not completely shutting down.
Chapter 13 bankruptcy allows people to repay a large portion of debt within a time frame of around 3-5 years.This repayment may follow a court-approved plan as well. While in this chapter, collectors of debts are deemed unable to attempt full collection, which can give many a break from creditor harassment and other pending collection lawsuits. To qualify for chapter 13 bankruptcy, you must prove you are working with a steady stream of income.
If bankruptcy is something that may relieve you from your current financial situation, sit down with a professional legal attorney to learn more. At The Law offices of Marc Duxbury, we will provide the help you need with filing for bankruptcy, as well as representation throughout. Give us a call today.