Alameda Bankruptcy Lawyers
Bankruptcy is not a dirty word but an honest and legal solution to debt problems. You should not feel guilty for telling the truth and following the law to discharge your debts legally. Millions of people have filed for bankruptcy protection and now lead happier debt free lives. Schedule a free consultation with our experienced Alameda Bankruptcy lawyers and attorneys today to find out how bankruptcy can help. We also have phone consultations available for clients. Call toll free at 1-877-963-9543 to schedule a free consultation.
Meet our attorneys: Ryan C. Wood and Kitty J. Lin
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We know you never thought you would be contacting Alameda bankruptcy lawyers :: attorneys to inquire about filing for bankruptcy protection. No one ever does until they unfortunately have to. You are not alone and should not feel bad or ashamed. It can happen to anyone. Just Google celebrity bankruptcies and read about how millionaires had to do the same thing you are thinking about doing. Bankruptcy is not about trying to make people feel bad about their debt problems, but provide a fresh start. You will not be barefoot and have nothing after receiving a discharge of your debts. There are limits to the amount of assets that can be protected by exemptions (in most cases all of your assets can be protected). There are state exemptions and federal exemptions. What and how much you can protect depends upon the state you live in and their exemption rules. California has generous exemptions that usually allow bankruptcy filers to protect and keep all of their stuff. If you have jewelry or vehicles that are paid in full and worth thousands of dollars you may have unexempt or unprotectable assets. Do not worry, there are always options to allow you to keep your stuff even if it cannot be protected by bankruptcy exemptions.
The whole point in filing bankruptcy is to get rid of burdensome debts to make sure you can pay your car payment each month, your home mortgage, your rent or other vital necessities we all must pay each month. No one is going to make you feel bad about seeking our help. Of course not us, not the trustee assigned to your case or the bankruptcy court. Bankruptcy is the legal process of discharging or eliminating burdensome debts forever. The only people or companies that find out you filed bankruptcy are those you owe money to and those you give permission to access your credit report. Many clients ask about renting an apartment after filing for bankruptcy with our Alameda bankruptcy attorneys and lawyers. If you owned an apartment complex would you rather rent to someone who has $40,000 in debt and a credit score of 550 or someone who has no debts, a credit score of 550 and they filed for bankruptcy? Most reasonable human beings are going to rent to the person who has no debts because they are going to more likely be able to pay their rent each month. The person with the $40,000 in debts but no bankruptcy is a higher risk to not pay the rent each month because they are struggling with paying their debts each month. Our Alameda bankruptcy attorneys and lawyers will discuss your assets with you during your free consultation.
There are many ways in which filing bankruptcy can help your financial situation. The most common is getting rid of overwhelming credit card debts once and for all. If you qualify to file a Chapter 7 bankruptcy case and all of your stuff can be protected, then all of your eligible unsecured debts like credit cards, medical bills, utilities, lawsuits and more can be discharge or eliminated completely. In most cases all of your stuff is protected by the available exemptions. These exemptions prevent your stuff from become assets the trustee assigned to your case can take and sell for the benefit of those you owe money to. For those of you who have high incomes, high asset values or a lot of equity in a house and are having problems with debts a Chapter 13 bankruptcy might have to be filed. If you have disposable income left over each month, or can afford to pay back some of your debts, then a Chapter 13 bankruptcy is the proper chapter under the bankruptcy code. It all depends upon your individual circumstances and your income, expenses and the value of your assets. We are your Alameda Bankruptcy Lawyers :: Attorneys.
By
Ryan
C. Wood