Hiring the right bankruptcy lawyer is one of the most important decisions you will make in this process, but the first step is to find your bankruptcy Law firm Thousand Oaks that will be the best solution for you. The easiest way to accomplish that is to search for bankruptcy attorney Thousand Oaks.
The next step is to determine which type of bankruptcy lawyer Thousand Oaks offers.
- Chapter 7 Bankruptcy Lawyer Thousand Oaks
- Chapter 13 Bankruptcy Attorneys Thousand Oaks
- Foreclosure Attorney Thousand Oaks
- Debt Relief Thousand Oaks
Once you’ve determined the location and the type of bankruptcy services that you need, you should check the credentials of the lawyer. Find out if the attorney is licensed, but also check to see what kind of experience they have in bankruptcy law. How many years have they been a lawyer, but also, in that time, how many cases have they handled?
Once you’ve chosen the attorney who is right for you and your needs, you still may need to determine whether you qualify for a Chapter 7 or Chapter 13 bankruptcy. Of course, there are a number of factors that come into play when you are determining which path forward is best for your financial situation. Here’s a quick overview of what each bankruptcy type means, and how one might work over the other for your financial situation.
A Chapter 7 bankruptcy, also known as “liquidation” or “straight bankruptcy,” is usually the easiest type, and it’s also the most common. Depending on the factors and financials involved, this option can be done in a matter of three-to-five months. You might consider this option if you are so deeply in debt that you cannot pay your bills. For you to qualify, you typically must earn less than the median income every month, but you must also submit your financial records for a “means test.” Your level of debt must also be high enough to qualify.
A Chapter 13 bankruptcy, also known as a “wage earner’s bankruptcy,” is a way for you to consolidate or reorganize your debt for a period of three-to-five years of repayment. With this type of bankruptcy, you submit a reorganization plan that protects you from foreclosure or repossession, while requesting forgiveness from other debts. It’s typically used if you have a job, but you’ve just become overwhelmed by debt. It’s a way to get out of debt, and really just gives you breathing room to pay off your debt. For you to qualify, you must have no more than $394,725 in credit card or other unsecured debt, and no more than $1,184,200 in mortgages and other secured debt.
Depending on your financial situation, you may find that you may also need help with several other legal considerations related to your debt and recovery.
A foreclosure is the legal process where the lender, often a bank or other financial institution, attempts to repossess the property. While the bankruptcy options may stop the foreclosure on your home or property, an attorney can help you determine the option that’s best for you and your financial situation. It’s important to look at Ventura foreclosure Thousand Oaks.
A lawyer will also discuss other debt relief options. You may not be eligible for bankruptcy or you may just not want to go that route. It’s not an either/or scenario. An attorney can offer a plethora of options, but he or she can also make recommendations for the solution that may be the best solution for your needs. As part of your debt relief exploration, you can also look at a Debt settlement attorney Thousand Oaks.
With this quick overview of the most common bankruptcy options, you probably already have a lot to discuss, and the good news is that you’re not alone in this. We are here to answer all of your questions, and assist you in pursuing the legal path that should work best for you. Our most common services include: Chapter 7, Chapter 13, Foreclosure, Debt relief, Medical Debt Relief, and Debt settlement.
Talk to our Bankruptcy Lawyer today!