Bankruptcy Firm in Stockton, CA
Most people are reluctant to consider bankruptcy due to its social stigma. However, the government has recognized its need and provided the public with a legitimate route to restoring financial health. You may believe that, not only will you lose your reputation through bankruptcy, but you will lose all of your property and assets. However, these are not the realities of what occurs through the bankruptcy process. That is why we strongly recommend that you learn more about what bankruptcy entails and its benefits. (See our blog on the myths and facts about bankruptcy).
Our Legal Services
Thousands of individuals seek bankruptcy every year in California. With recent economic events putting people out of work, this is not surprising. If your debt level has overgrown your ability to cope, you need solutions that will work for you. The longer you wait, the further your debt load will likely grow which is why we advise seeking legal help sooner rather than later. You may be struggling with student loan debt, credit card debt, wage garnishment, repossession, and the threat of foreclosure as well as nasty creditor harassment that can make your life miserable.
How Our Stockton Bankruptcy Law Firm Can Help
Our firm can provide the debt relief you need. Whether through a Chapter 7 or Chapter 13 bankruptcy or some other viable solution, we understand the urgency. Our Stockton lawyers can help you move forward with a plan customized to your needs. Let us help you save your paycheck from garnishment, your vehicle or other belongings from repossession, and your home from foreclosure with appropriate plans of action. Let us help restore your peace of mind and put you in the financial driver’s seat so you can move forward with security and confidence.
Arrange for a free consultation with our bankruptcy lawyers in Stockton, CA via our online request form or by calling us at (209) 243-7560.
Don’t Wait. Act Today.
Is It Better to File a Chapter 7 or 13?
Choosing between Chapter 7 and Chapter 13 bankruptcy depends on your financial situation and goals.
Chapter 7 typically offers a quicker, more straightforward path to discharge certain unsecured debts. It's ideal if you have limited income, few assets you want to keep, and significant unsecured debts like credit cards. However, Chapter 7 may require you to liquidate non-exempt assets to pay creditors.
Chapter 13 provides a structured repayment plan over three to five years. It's suitable if you have a steady income and want to keep assets like a home and car. You can catch up on arrears (e.g., mortgage or car payments) and consolidate some debts. It's beneficial if you're not eligible for Chapter 7, facing foreclosure or tax debt, or need more time to pay debts.
Ultimately, the decision depends on your unique financial circumstances and goals. Consulting a bankruptcy attorney is crucial to determine which chapter aligns best with your situation.
What Are the Consequences of Bankruptcy?
While bankruptcy can offer relief from excessive debt, it also has serious drawbacks. First off, your credit score will suffer, making it harder for you to get credit or loans in the future. Your financial reputation may be impacted by bankruptcy for several years after it has occurred.
Assets may also be impacted. Non-exempt assets may be liquidated to repay creditors in Chapter 7. You can keep your assets in Chapter 13 but you must follow a court-approved repayment plan. Furthermore, bankruptcy can affect your ability to qualify for mortgages or existing home and car loans.
Bankruptcy often entails social and emotional consequences, like the stigma associated with financial failure. Employment prospects might be affected as well, especially for positions involving financial responsibility.
Finally, filing for bankruptcy also becomes public record, making your financial situation more transparent. It is critical to balance these consequences with the relief that bankruptcy can provide. A bankruptcy attorney can assist you in navigating these complexities and making an informed decision.
Call Our Bankruptcy Law Firm Today
Our helpful and friendly team can further address your concerns and worries about bankruptcy and debt relief through proper legal counsel. We are here to ensure you understand the facts about bankruptcy, how it will affect you in the long-run, and how its appropriate use can change your life for the better. To get started, phone or email our friendly staff today. The sooner you act, the sooner you can pursue the relief you need.
Arrange for a free consultation with our Stockton bankruptcy lawyers via our online request form or by calling us at (209) 243-7560.
What Makes Us Different?
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Qualified ExperienceOver 30+ years of combined experience.
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Free ConsultationsSchedule a free consultation with one of our attorneys now, we will give you the information you need to decide if bankruptcy is right for you.
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Honest & CaringWe take great pride in being known as a compassionate law firm that cares about our clients.
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We Stand for What We BelieveWe stand behind our work with nine iron-clad guarantees, you'll be treated with the care and respect you deserve.
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Se Habla EspañolWe have Spanish speaking lawyers available to speak with you immediately.
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“Helpful, know what they’re doing. Everything about my experience there was wonderful, I’d recommend this place to friends and family.”
- Former Client -
“They really took the worry out of the process and I can highly recommend them for both bankruptcy and debt settlement.”
- Former Client -
“Greg & Law Office, I want to thank you for the quick, professional, and pleasant way you handled my Chapter 7 proceedings.”
- Former Client -
“John Kyle and his team are highly professional and knowledgeable, but beyond that, they are also friendly, hospitable, and help you to get through the process.”
- Former Client