It’s not always easy to make the decision to pursue a bankruptcy, Debt Settlement or Foreclosure options. It may feel stressful, confusing or even overwhelming, but that’s why it’s important to hire the right attorney for you. You need someone who can answer all your questions, and help you avoid some of the most frequent missteps, which can be costly and time-consuming mistakes. First and foremost, you must ask these questions:
- Is the lawyer licensed?
- What is his/her background?
- Where is he/she located? Are they in Ventura County?
- How many cases does he/she handle every month or year?
- What is the attorney’s success rate? Are they willing to share success stories?
- Can your Attorney guide you with all possible options available such as:
As you move forward, another consideration is what option you may be qualified to pursue. Our Bankruptcy attorneys’ help you make an affirm decision as they will guide you with all possible options from the following:
The first type is usually called “liquidation” i.e. Chapter 7, where you would probably expect that most of your assets would be sold off to pay back your debt. It’s pretty straightforward and relatively fast: three-to-five months. Depending on your financial situation, some of your assets may be exempt, but you should discuss any questions you have about this type of bankruptcy with your attorney. You are qualified based on your median income but also based on the total amount of debt that you owe. So discuss your financials & qualification in depth with your local Ventura County Chapter 7 Bankruptcy attorney and make a decision accordingly.
Chapter 13 varies substantially from Chapter 7, primarily in the income level that you are probably at. This type of bankruptcy is called a “wage earner’s bankruptcy” because you have a job and a regular paycheck, but for whatever reason, you’ve fallen behind in your bills and you need help. It’s designed to protect you against foreclosure or other more serious penalties associated with being overwhelmed with debt. The idea behind this type of bankruptcy is that you should have some breathing room to pay back your debs over a period of 3-5 years, but you may also be eligible for the forgiveness of some debts. To be eligible, you cannot owe more than $394,725 in credit cards or other unsecured debt, while also owing no more than $1,184,200 in mortgages or other secured debt. To check if you qualify for this option, you may want to get in touch with one of our local Ventura County Chapter 13 Bankruptcy Lawyer today and work towards secured financial future.
Even after pursuing both Bankruptcy options, bankruptcy may not turn out to be the complete solution. So here are a few other possible services that you may need and our attorneys can help you with:
There may be a number of other reasons why you are seeking debt relief. Perhaps you lost your job, or you don’t qualify for bankruptcy or other consolidation programs. For whatever reason, you need help, and your attorney may be able to point you in the right direction, so you can get the help you need.
At Berneman Law Firm, Our Ventura County Debt Settlement Attorneys can help you gain your financial freedom. We can answer any questions that you may have, but we can also walk you through the process to help you determine which option(s) might work best for you and your financial situation. This can be a scary time, particularly if you are afraid of losing everything. Our goal is to explain the process so your situation will not feel so overwhelming. Here are some services that we offer.
While a Chapter 13 bankruptcy may allow you to keep your home, you may not qualify, or for whatever reason, you may have other concerns about foreclosure. A Foreclosure takes place when you take out Mortgage to buy a Property in Ventura County by agreeing to certain monthly payments unless the whole Mortgage amount is paid off where purchased property works as collateral. This means that lender can sell off the property to recover the balance mortgage due if you fail to pay the monthly payments as agreed. Lender has 2 options for Foreclosure; judicial and Non-Judicial however most of the times they prefer Non-Judicial as it’s simple and fast. Our Ventura County Foreclosure attorneys can give you personal guidance in such hard times and help you getting out of this situation as early as possible to avoid any mental trauma and gain your financial freedom back.
Talk to our Ventura County Bankruptcy Lawyer today to unfurl your best possible option and let us take the trouble of getting you out of bad phase of life.