Murrieta Bankruptcy Lawyer
Our Murieta area law firm has been helping residents of Murrieta CA from our Temecula Valley bankruptcy office to file for Chapter 7 bankruptcy and Chapter 13 bankruptcy protection for years. We have an experienced legal staff that can help you examine your options and make an informed decision. Our focus is on examining your financial situation and facts and explaining the different options available to help you resolve your situation. Every client’s situation is different, and it is important that we look at their overall facts and background to determine what is the proper course of action. Often people choose to sell their property and use all their savings and retirement before considering bankruptcy as an option. Bankruptcy should not be the last resort to consider but should be an option that will help you protect your savings, assets and retirement from creditors.
CHAPTER 7 AND CHAPTER 13 BANKRUPTCY
The bankruptcy code was developed to assist individuals and businesses in eliminating debt and rebuilding their financial future. Chapter 7 and Chapter 13 bankruptcy are the main chapters used by individuals to eliminate or reorganize their debts.
A Chapter 7 bankruptcy is often referred to as a liquidation bankruptcy where unexempt assets are liquidated to pay creditors. In the majority of cases creditors do not receive any distributions and no assets are liquidated. In most Chapter 7 bankruptcy cases the California bankruptcy exemptions protect assets from creditor liquidation.
A Chapter 13 bankruptcy is referred to as a reorganization bankruptcy and offers a number of benefits to clients. Through a Chapter 13 bankruptcy our clients can stop foreclosure and have the opportunity to pay past due arrears on their home through a structured 3 to 5 year payment plan, remove second mortgage and homeowners association liens, and structure a payment plan to pay IRS and state tax debt over a 3 to 5 year term. Determining your qualification to file for Chapter 13 bankruptcy protection is based on examining your income and expenses and determining whether there is available disposable income to distribute to creditors. During the initial consultation we will complete a review of your income and expenses to evaluate whether Chapter 13 bankruptcy is feasible and beneficial for you.
The founder of Southern California Law Advocates, P.C. (SCLA), Orange County bankruptcy attorney Norma Duenas, is an experienced bankruptcy attorney who graduated from the University of San Diego Law School, Cum Laude. Ms. Duenas has handled hundreds and hundreds of Chapter 7 and Chapter 13 bankruptcy cases – simple and complex.
Attorney Norma Duenas will make time to sit down with you personally if you call and schedule a free and confidential consultation.