Santa Cruz Bankruptcy Attorney Ay Your Service
Are you financial difficulties? Thinking about filing for bankruptcy? A Santa Cruz Bankruptcy lawyer will be able to help in a time when you need it most. Handling all aspects of bankruptcy, a Santa Cruz Bankruptcy attorney will provide you with the legal methods for you to wipe out your debts. They will explain the main reasons and applications of bankruptcy law and how they function. A bankruptcy lawyer from your city can give you the fresh start you need.
With five different chapters of bankruptcy to choose from, you can find a way to end your debt. Just because you are filing bankruptcy does not mean you lose everything you own. There are also Chapters 9, 11, 12, and 13. These are plans that deal with debtor rehabilitation which involves court-approved plans and payment schedules.
Known as “straight bankruptcy”, Chapter 7 is what most people think of in terms of filing for bankruptcy. It is simply a liquidation of all assets. The money is then used to pay off debtors of all outstanding debts. A Santa Cruz attorney who specializes in bankruptcy has other solutions that might fit your case as well.
Municipal debts can be taken care of through Chapter 9. A federal process, similar to Chapter 11, it covers all municipalities such as town, counties, villages, school districts, and such. Chapter 11 is more designed for indebted commercial businesses. It allows the owners to keep running their businesses as they pay off their debts.
With more and more farmers losing their livelihood, Chapter 12 can help by giving them a much needed break. A Santa Cruz lawyer that focuses on bankruptcies can turn in a debt relief plan which stretches out the payments for over three years. If more time is needed, the court can approve up to a five year extension.
Chapter 13 gives much needed debt relief to both consumers and individuals. Usually the most favored of chapters, Chapter 13 lets you keep your most valuable assets like houses and cars. Unlike Chapter 7, not all of your assets are liquidated. The plan of action for Chapter 13 is considered at a confirmation hearing and is either disapproved or approved.
A Santa Cruz Bankruptcy lawyer can help clear your debts. Whether you are facing foreclosure, repossession, lawsuits, or liens, they are there for you. An experience Santa Cruz Bankruptcy attorney can help guide you through the process and give you much needed information to decide which is best for you.
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