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Isleton, CA Bankruptcy Attorney

Despite the fear that the term “bankruptcy” tends to instill in most people, it’s not a dirty word! It’s actually a simple legal process that can help those who are suffering from debt find financial freedom. Whether you’re sick of being harassed by creditors, concerned about foreclosure or eviction, or fearful that your car will be repossessed, our Isleton bankruptcy attorney can help you pursue a fresh start! Call Equal Justice Law Group today to request a consultation.

Isleton Bankruptcy Attorney

What Is Bankruptcy?

Bankruptcy is a legal way for an individual (or a business) who is unable to repay their debts to gain financial relief. Due to the state of our economy, making ends meet can be difficult. Unexpected circumstances such as job loss or medical emergencies can significantly impact your ability to repay debts.

In certain bankruptcy situations, the debt is rearranged into a payment plan, while others have their debts erased altogether. Regardless of the situation, bankruptcy can serve as a clean slate – a do-over. It can also reverse some of the negative consequences associated with debt, such as immediately stopping creditor harassment through an automatic stay. This automatic stay takes effect immediately upon filing for bankruptcy, preventing creditors or debt collectors from contacting you via text, call, email, or mail.

In addition, any processes like evictions, repossessions, or foreclosures that may have already begun have to come to an immediate halt once you’ve filed for bankruptcy. Creditors face serious penalties for contacting you after bankruptcy filing. Having our skilled Isleton bankruptcy attorney on your side can prevent debt from wrecking your life!

The Different Types Of Bankruptcy

There are several types of bankruptcy, with the most common being Chapter 7, Chapter 13, and Chapter 11.

  • Chapter 7 bankruptcy, also known as liquidation bankruptcy, allows debtors to keep assets such as vehicles, property, household items, and more, up to a certain value. If the value of these items exceeds the federal or state’s allowed amount, debtors can choose to pay the excess or surrender the property to the bankruptcy trustee. It’s important to note that Chapter 7 bankruptcy often allows debtors to retain their belongings.
  • Chapter 13 bankruptcy, also called reorganization bankruptcy or wage-earners bankruptcy, involves a 3-5 year repayment plan for debts and is intended for individuals with steady income. Debtors under Chapter 13 do not have to give up their property but must make monthly payments towards their total debt, which are managed by the bankruptcy trustee and distributed to creditors.
  • Chapter 11 bankruptcy, similar to Chapter 13 but designed for businesses, enables companies to continue operations while restructuring and repaying their debts.

All three types of bankruptcy offer debtors the opportunity to eliminate or manage their debt and start fresh.

Common Questions About Bankruptcy

1. Will bankruptcy ruin my credit score?

No, the idea that filing for bankruptcy will ruin your good credit is a common misconception; in fact, filing can actually lower your debt-to-income ratio and improve your credit score.

2. Is the court going to take everything I own?

No, the court isn’t interested in your personal belongings. If you file for Chapter 7 bankruptcy, assets like real estate and vehicles are what’s typically included.

3. Can I ever buy a house again after bankruptcy?

Yes, you can still buy a home after bankruptcy, though you’ll likely need to wait between 1 to 4 years, depending on the type of bankruptcy you filed, your mortgage, and your lender.

Ready To Work Through Your Debt? Our Isleton Bankruptcy Attorney Can Help!

Whether your debt stems from personal loans, credit cards, mortgage payments, or something else, our Isleton bankruptcy attorney can help you initiate the process, stop the constant contact from creditors, and help you work towards a better, debt-free future. Call Equal Justice Law Group today to request a consultation with our Isleton bankruptcy attorney where you can learn about your options and next steps.

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Isleton, CA Practice Areas

I have worked along side this attorney for the last ten years. He is very easy to talk to and is able to come up with a solution to your problem. He has been an attorney for more than 20 years and knows how to effectively communicate with his colleagues in the law world. He is well-liked in the court systems. His staff work well with him to accomplish the needs of all our clients cases. It is such a good feeling to hear our clients thank us for solving their legal problems. Choose our firm to help you solve your problems you won't be disappointed.

Janelle F.

Great customer service, they helped me a lot highly recommend.

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Equal Justice Law Group

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