Bankruptcy
Our firm will assist you with your bankruptcy filings, negotiating a settlement of your debts, defend you against collection
litigation and help you delay or stop your foreclosure.
litigation and help you delay or stop your foreclosure.
The purpose of bankruptcy is to provide you with a fresh start. Bankruptcy claims are filed in the Federal Court System as a solution to your financial distress. There are various types of bankruptcy and reviewing your finances, assets, and delinquencies with a qualified and experienced attorney can help you determine the best course of action.
Our firm handles both Chapter 7 and Chapter 13 bankruptcies. We will look over your specific case and let you know whether bankruptcy is right for you. While we understand declaring bankruptcy may be a difficult thing to do, juggling several creditors and dodging phone calls can be even harder. We can help you wipe your slate clean and start over with relief. If you are ready to get rid of your debt that you simply cannot afford, give us a call for a free initial consultation. We welcome the opportunity to discuss your financial issues, bankruptcy questions through a free, no obligation consultation. Please contact our office today to set up your free consultation. |
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Chapter 7
Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. Debtors whose debts are primarily consumer debts are subject to a "means test" designed to determine whether the case should be
permitted to proceed under Chapter 7. If your income is greater than the median income for the state of residence and family size, in some cases, creditors have the right to file a motion requesting that the court dismiss your case under section 707(b) of the Code. It is up to the court to decide whether the case should be dismissed.
Chapter 7 exempts most assets. Over 90% of our clients keep everything. In Chapter 13, you keep all assets you choose, because most unsecured debts are "as if in full". In both chapters, all assets must be listed at time of filing.
The purpose of filing a Chapter 7 case is to obtain a discharge of your existing debts. If, however, you are found to have committed certain kinds of improper conduct described in the Bankruptcy Code, the court may deny your discharge and,
if it does, the purpose for which you filed the bankruptcy petition will be defeated.
Most general unsecured debts are discharged in Chapter 7. There are some exceptions. You may still be responsible for most taxes; student loans; debts incurred to pay non-dischargeable taxes; domestic support and property settlement obligations; most fines, penalties, forfeitures, and criminal restitution obligations; certain debts which are not properly listed in your bankruptcy papers; and debts for death or personal injury caused by operating a motor vehicle while intoxicated. Also, if a creditor can prove that a debt arose from fraud, breach of fiduciary duty, theft, or from a willful and malicious injury, the bankruptcy court may determine that the debt is not discharged.
Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. Debtors whose debts are primarily consumer debts are subject to a "means test" designed to determine whether the case should be
permitted to proceed under Chapter 7. If your income is greater than the median income for the state of residence and family size, in some cases, creditors have the right to file a motion requesting that the court dismiss your case under section 707(b) of the Code. It is up to the court to decide whether the case should be dismissed.
Chapter 7 exempts most assets. Over 90% of our clients keep everything. In Chapter 13, you keep all assets you choose, because most unsecured debts are "as if in full". In both chapters, all assets must be listed at time of filing.
The purpose of filing a Chapter 7 case is to obtain a discharge of your existing debts. If, however, you are found to have committed certain kinds of improper conduct described in the Bankruptcy Code, the court may deny your discharge and,
if it does, the purpose for which you filed the bankruptcy petition will be defeated.
Most general unsecured debts are discharged in Chapter 7. There are some exceptions. You may still be responsible for most taxes; student loans; debts incurred to pay non-dischargeable taxes; domestic support and property settlement obligations; most fines, penalties, forfeitures, and criminal restitution obligations; certain debts which are not properly listed in your bankruptcy papers; and debts for death or personal injury caused by operating a motor vehicle while intoxicated. Also, if a creditor can prove that a debt arose from fraud, breach of fiduciary duty, theft, or from a willful and malicious injury, the bankruptcy court may determine that the debt is not discharged.
Chapter 13
Chapter 13 is designed for individuals with regular income who would like to pay all or part of their debts in installments over a period of time. You are only eligible for Chapter 13 if your debts do not exceed certain dollar amounts set forth in
the Bankruptcy Code.
Under Chapter 13, you must file with the Court a plan to repay your creditors all or part of the money that you owe them, using your future earnings. The period allowed by the court to repay your debts may be three years or five years, depending upon your income and other factors.
After completing the payments under your plan, your debts are generally discharged with limited exceptions. Domestic
support obligations; student loans; certain taxes; most criminal fines and restitution obligations; certain debts which are not properly listed in your bankruptcy papers; certain debts for acts that caused death or personal injury; and certain long term secured obligations, may continue to exist after discharge in Chapter 13.
Chapter 13 payment plans are determined by calculating net monthly income less normal living expenses. The amount left over is paid to a trustee, who in turn pays creditors monthly.
Chapter 13 is not a loan. It is a federal plan that requires creditors to take less money each month from you, for a longer period of time. It is available to individuals with:
· regular income from any source
· unsecured debts not exceeding $336,900
· secured debts not exceeding $1,010,650.00
If the amount left over cannot repay creditors in full over 3 to 5 years, we reduce the balance owed to unsecured creditors and sometimes secured creditors. You pay creditors 0% to 100% of the balance owed which is dependent on your budget and the county's court. Eliminating all interest on most unsecured debts and certain types of secured debt is allows for affordable payments.
Chapter 13 is designed for individuals with regular income who would like to pay all or part of their debts in installments over a period of time. You are only eligible for Chapter 13 if your debts do not exceed certain dollar amounts set forth in
the Bankruptcy Code.
Under Chapter 13, you must file with the Court a plan to repay your creditors all or part of the money that you owe them, using your future earnings. The period allowed by the court to repay your debts may be three years or five years, depending upon your income and other factors.
After completing the payments under your plan, your debts are generally discharged with limited exceptions. Domestic
support obligations; student loans; certain taxes; most criminal fines and restitution obligations; certain debts which are not properly listed in your bankruptcy papers; certain debts for acts that caused death or personal injury; and certain long term secured obligations, may continue to exist after discharge in Chapter 13.
Chapter 13 payment plans are determined by calculating net monthly income less normal living expenses. The amount left over is paid to a trustee, who in turn pays creditors monthly.
Chapter 13 is not a loan. It is a federal plan that requires creditors to take less money each month from you, for a longer period of time. It is available to individuals with:
· regular income from any source
· unsecured debts not exceeding $336,900
· secured debts not exceeding $1,010,650.00
If the amount left over cannot repay creditors in full over 3 to 5 years, we reduce the balance owed to unsecured creditors and sometimes secured creditors. You pay creditors 0% to 100% of the balance owed which is dependent on your budget and the county's court. Eliminating all interest on most unsecured debts and certain types of secured debt is allows for affordable payments.
Foreclosure Defense
At The Law Offices of Julieann R. Sayegh we understand the hardships families face when confronted with the uncertain future foreclosures present, but more importantly we know how to stop foreclosures. Our mission is to help you get a fresh start by stopping the foreclosure process permanently. We work with lenders around the country on a daily basis and know the best strategies to help prevent foreclosure.
When it comes to foreclosure law we know the intricacies of refinancing, payment forgiveness and loan modification. With our team of legal professionals on your side, you will have the tools to leverage these tactics to create a plan that's unique to your particular situation.
We can help you stop foreclosure no matter how dire your situation is, but the sooner you act the better your chances. The longer you put off getting help, the harder it will be for us to help you.
At The Law Offices of Julieann R. Sayegh we understand the hardships families face when confronted with the uncertain future foreclosures present, but more importantly we know how to stop foreclosures. Our mission is to help you get a fresh start by stopping the foreclosure process permanently. We work with lenders around the country on a daily basis and know the best strategies to help prevent foreclosure.
When it comes to foreclosure law we know the intricacies of refinancing, payment forgiveness and loan modification. With our team of legal professionals on your side, you will have the tools to leverage these tactics to create a plan that's unique to your particular situation.
We can help you stop foreclosure no matter how dire your situation is, but the sooner you act the better your chances. The longer you put off getting help, the harder it will be for us to help you.
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Bankruptcy FAQ
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818 North Mountain Ave. Suite 219 - Upland, CA 91786 | Phone: (909) 919-7201 | Fax: (866) 919-4325
Copyright © 2010 Upland Law Group. All rights reserved
The information in this web site is provided with the understanding that the publisher is not engaged in rendering legal, tax or
investment advice. Consult an attorney for legal advice.While every attempt has been made to provide current and accurate information, neither
the author nor the publisher can be held accountable for any errors or omissions. You agree not to hold uplandlawgroup.com liable for action you take
from the information on its website.
818 North Mountain Ave. Suite 219 - Upland, CA 91786 | Phone: (909) 919-7201 | Fax: (866) 919-4325
Copyright © 2010 Upland Law Group. All rights reserved
The information in this web site is provided with the understanding that the publisher is not engaged in rendering legal, tax or
investment advice. Consult an attorney for legal advice.While every attempt has been made to provide current and accurate information, neither
the author nor the publisher can be held accountable for any errors or omissions. You agree not to hold uplandlawgroup.com liable for action you take
from the information on its website.