If you’re facing bankruptcy, you’re probably worried about the future. You have important choices to make and need the most updated information and advice available. There are many people to deal with – creditors, mortgage companies, and business colleagues. Not to worry! An expert bankruptcy lawyer the David P. Gardner Law Firm in Petaluma, California can evaluate your unique financial situation and discuss all the options that are available to you, treating you with the respect, dignity, and compassion you deserve.
Types of Bankruptcy
In California, the two main types of bankruptcy that are filed are Chapter 7 and Chapter 13. To file for Chapter 7 bankruptcy, your income must be below the California median for a household of your size. If you qualify and file, a trustee will manage of all your assets and determine how to use them to pay your debts. Most of your debts will be eliminated, allowing you to start over with a clean financial slate. Chapter 7 bankruptcy is a good choice if you don’t have any possessions you want to keep, like a home.
Meanwhile, with Chapter 13 bankruptcy, you’ll pay off more of your debts, but will have more time to do so. If you have a home you want to keep but are behind on payments, you may be able to keep it by modifying your loan. With Chapter 13 bankruptcy, your debts can be consolidated with a payment plan.
An expert bankruptcy lawyer can help you choose the right kind of bankruptcy for you.
Call to Speak to a California Bankruptcy Lawyer for Legal Advice
If you need help filing for bankruptcy, contact a California bankruptcy lawyer for legal advice. The David P. Gardner Law Firm of Petaluma, California offers a free legal consultation and will advocate for you during this difficult time. Call (707) 658-4460 and get peace of mind today.