Stockton Bankruptcy Lawyer
Get a FRESH START today!
You are not alone, thousands of people are seeking help from the bankruptcy court.
If you find yourself in over your head in debt, the creditors are constantly howling at your door interrupting dinner meals, leaving threatening messages and embarrassing you at work. Every day the mail brings a new avalanche of bills and creditor letters, all marked “OVERDUE” in red lettering. Each ring of the phone is another collection agency greedily demanding payment now.
Bankruptcy is a tool, and when used properly can stop the harassing telephone calls from collection agencies, foreclosures, wage garnishments, liens and other unpleasantries of owing money to bank and creditors. Bankruptcy can help you get back on track, get out of debt and get a fresh lease start and lease on life.
Bankruptcy is a legal process that many individuals and businesses turn to when they are facing overwhelming financial difficulties and are unable to meet their debt obligations. Bankruptcy provides a structured way to address these financial challenges and potentially obtain relief from debt.
There are different types of bankruptcy, including Chapter 7, Chapter 13, and Chapter 11, each with its own set of rules and requirements. Chapter 7 typically involves the liquidation of assets to pay off debts, while Chapter 13 allows individuals to create a repayment plan to gradually pay off their debts over time. Chapter 11 is primarily used by businesses to reorganize and continue operations while repaying creditors.
Bankruptcy can be a complex and emotional process, and it’s often a last resort for individuals and businesses struggling with debt. It’s important to consult with a qualified attorney or financial advisor to understand your specific situation and explore all available options before pursuing bankruptcy. Additionally, bankruptcy laws and regulations can vary by jurisdiction, so it’s important to seek advice that is tailored to your location and circumstances.
You have questions. You are scared that you are going to lose your house to foreclosure, your car to repossession, and your paycheck to garnishment. Our bankruptcy attorneys at Law Office of Robert W. Fong can help you get out of this mess. Call (209) 475-0499 today for a free bankruptcy consultation with a Stockton bankruptcy lawyer.
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Law Office of Robert W. Fong
1151 West Robinhood Drive, Suite B15
Stockton, CA 95207
Phone: (209) 475-0499
Five Benefits of Bankruptcy
Keep Your Home
Stops Creditor Harassment
New Beginnings & Opportunities
Right to Your Privacy
Which Bankruptcy Chapter is Right for Me?
It is difficult to determine which bankruptcy (Chapter 7 or Chapter 13) is right for you without discussing your individual situation, goals, and financial abilities.
“Self-help” is not the answer in this situation with serious consequences. Without having a full legal knowledge of court procedures, the relevant statutes, published cases on the subject matter, and experience dealing with creditors and courts you will not be successful in your efforts. At the very least you will fall short of retaining all the benefits under the bankruptcy chapters, and the creditors will not hesitate to take advantage of uninformed or misinformed individual. The small and trivial detail are curtail in accomplishing the desired result.
Contact a bankruptcy lawyer at our law firm to determine which Chapter is right for you. Our experienced bankruptcy lawyers will discuss your individual situation and determine the best course of action. Call (209) 475-0499 today, we offer free consultation.
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy of the US Bankruptcy Code is the Bankruptcy Code’s “liquidation” chapter.
Upon the filing of Chapter 7 Bankruptcy petition, an impartial bankruptcy case trustee is appointed by the United States bankruptcy trustee to administer the case and liquidate the debtor’s nonexempt assets.
Chapter 7 bankruptcy attorney at Law Office of Robert W. Fong can help with the process. In Chapter 7 there is no repayment required for most unsecured debts, your debts are wiped out completely and permanently. In about 99% of Chapter 7 cases, the consumer keeps all property, and eliminates most debts.
The entire process usually takes less than 4 months to complete. After the bankruptcy is over, the consumer may choose to selectively pay back debts, such as debts to family members, however repayment is not legally required.
Chapter 13 Bankruptcy
The most common misconception regarding Chapter 13 is that it is a “repayment plan”.
Some people have to do a Chapter 13 instead of a Chapter 7 either because they make too much money or because they have an asset that they would lose in a Chapter 7.
Some people, however, choose to do a Chapter 13 because of the unique benefits that this type of filing provides the client. A Chapter 13 allows one to save their house from foreclosure by bringing their first mortgage current, and in many situation, completely eliminating their second mortgage. A Chapter 13 bankruptcy also allows you to repay IRS debt interest and penalty free, and to reduce your car loan.