Bankruptcy Attorney San Diego, California

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The most common types of personal bankruptcy for individuals are Chapter 7 and Chapter 13. Corporations and other business forms often file under Chapter 7 or Chapter 11.

 

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CHAPTER 7

In a Chapter 7 bankruptcy, the primary goal for the individual is to achieve a “fresh start,” debt forgiveness and obtain a “Discharge.” A Discharge is a legal document that prevents a debt from being collected on. As part of this process, the individual is also allowed to keep certain exempt property. Many individuals only own exempt property and will not have to surrender any property to the trustee. Chapter 7 involves technical issues that Shanner & Associates can make easy to understand.

Click Here to read more about using San Diego bankruptcy attorney to file Chapter 7

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CHAPTER 13

In Chapter 13, the individual devotes some portion of his or her income to repaying creditors, generally over a period of three to five years. The amount of payment and the period of the repayment plan depend upon a variety of factors, including the value of the debtor’s property and the amount of a debtor’s income and expenses. Secured creditors may be entitled to greater payment than unsecured creditors. However, the interest rates paid through this system the court is usually much lower than if one were to try to pay off their credit cards, cars, and other debts on their own. Chapter 13 involves technical issues that Shanner & Associates can make easy to understand.

Click here to read more about using San Diego bankruptcy attorney to file Chapter 13

 

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WHICH CHAPTER DO I FILE?

We hope that you feel comfortable to call our office and take advantage of a free consultation to discuss your options and which Chapter is right for you. We pride ourselves on a personal touch and relationship with our clients.

What to expect from your free consultation! Click here to read.

I NEED A FRESH START. HOW DO I GET STARTED?

Please call us today at 619.232.3057. We can help.

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