If you’re looking to file bankruptcy in the Carmichael, CA area, you may have many questions. To start, you may want to know if there are any experienced attorneys in the area. From there, you’ll need to decide the type of bankruptcy you want to file based on your income, assets and debt you’re looking to discharge.
Many Attorneys to Choose From
Luckily, there are a few different bankruptcy law firms to choose from. You can select from Michael Johnson, an experienced bankruptcy attorney in the Carmichael area. Or choose attorney Peter Cianchetta, another experienced bankruptcy lawyer. Avvo.com lists a few more experienced bankruptcy attorneys in the Carmichael area.
Determining the Type of Bankruptcy to File
The next thing on your to-do list is to determine the type of bankruptcy you want to file. Filing for individual bankruptcy is done through Chapter 7 or Chapter 13. Chapter 7 essentially wipes out your unsecured debt and allows you to start over completely. In order to qualify for Chapter 7, you must have little to no disposable income. Because you have no income, your assets are liquidated in order for you to pay as much to your creditors as possible. Chapter 7 bankruptcy is usually discharged within a few short months. The bankruptcy attorney you select can help you determine if you qualify.
If you don’t qualify for Chapter 7, you’ll need to consider Chapter 13. Chapter 13 bankruptcy is for those that have a steady, reliable income. With this plan, you’ll determine how much you have in unsecured debt and work with the bankruptcy trustee to set up a payment plan based on your income and other monthly payments, such as your mortgage or car payment. You make one payment each month to the bankruptcy trustee who then distributes your payment to your creditors. Chapter 13 helps to prevent any pending foreclosure on your home.
Contact a few different bankruptcy attorneys and discuss your options with each, and retain an attorney who has experience and is someone you feel comfortable with. Filing for bankruptcy is a big decision and not one to be taken lightly.