Sacramento Bankruptcy Lawyers
Sacramento
Bankruptcy Lawyer — Michael Rehm
Call (916) 233-7346 for a free, confidential consultation with Michael Rehm,
Bankruptcy Lawyer in Sacramento, California. Mr. Rehm will provide you with the
information needed to proceed successfully from this point on.
Sacramento Bankruptcy Lawyer Michael Rehm provides competitive rates and payment
plans are accepted.
Sacramento Bankruptcy Lawyers: You can have a link on this page for less than you might think.
Send an email to BankruptcyLawyers@badjocks.com
for details.
Sacramento
Bankruptcy Lawyer - The Law Offices of Stephen Koonce practices primarily
in Chapter 7 (liquidation), Chapter 11, and Chapter 13 (reorganization)
consumer bankruptcy. Stephen created this site to provide information about
filing bankruptcy in Sacramento CA, what it could mean to you. Get creditors
off your back and start your life new by filing for bankruptcy. It could mean
a whole new start for you and your family. In times when consumer debt is at
an all time high, even the affluent can be confronted by overwhelming debt as
a result of a loss of a job, death of a family member, or severe illness.
Filing bankruptcy will immediately get the creditors off your back. With
Chapter 7, most debts are able to be discharged. In Chapter 13, a payment plan
can be established. Either way, your financial situation will be greatly
improved.
Barry H.
Spitzer: Sacramento Bankruptcy Lawyer - My law practice focuses on the
areas of:
bankruptcy, collection, contract disputes, and civil litigation. I also
am available for special appearances and to serve as local counsel for out of
area attorneys. My office provides bankruptcy, collection, contract dispute
and civil litigation services in the Eastern District of California including:
Sacramento County; Yolo County; Placer County; El Dorado County; Sutter
County; Davis; Folsom; Elk Grove; Citrus Heights; Rancho Cordova; Gold River;
Natomas; Arden; Land Park; Greenhaven; Pocket; Antelope; Rosemont; Carmichael;
West Sacramento; Rio Linda; Orangevale; Fair Oaks; Laguna; Roseville; Rocklin;
North Highlands; Del Paso Heights; Florin and Meadowview.
Sacramento
Bankruptcy Attorneys and Foreclosure Prevention Attorneys - We know
times are tough, you aren't sure what to do, but you know one thing, you need
to do something. Maybe you are upside down in your home and tired of
throwing good money at a bad problem, maybe you can't afford your house
payments anymore due to an adjusting loan, you've tried talking with your
lender and after months you have gotten nowhere. Your bills are mounting,
your credit cards are maxed, you are starting to receive creditor calls...it
is time to let the experienced bankruptcy and real estate attorneys at the
Litchney Law Firm step in and take control of your problems, we will steer you
in the right direction for YOU, we are one of the few law firms that can
assist with BOTH your real estate needs (loan modification, principal
reduction, forensic loan audit review, short sales, foreclosure assistance,
and deed-in-lieu of foreclosure) and your bankruptcy needs so which ever
option fits you and your needs the best, you can rest assured that our
experienced attorneys can assist you quickly and competently. And with
our offer of a free consultation you have nothing to lose and everything
to gain.
Call the Litchney Law Firm today to schedule
your free one-on-one confidential consultation with one of our experienced and
caring Bankruptcy and Foreclosure Prevention Attorneys.
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SACRAMENTO BANKRUPTCY COURT INFORMATION
California
Eastern District Court
What is Bankruptcy?
Bankruptcy is a way for people and businesses who owe more money than they can
pay right now (‘debtors') to either work out a plan to repay the money over
time in a case under chapter 11, chapter 12 or chapter 13, or to wipe out
(‘discharge') most of their bills in a chapter 7 case. The filing of a
bankruptcy petition immediately stops most actions to collect debts which were
due at the time of filing, including law suits, repossessions, and foreclosures.
Based upon the circumstances, the court may, however, permit some eviction,
repossession and foreclosure actions to continue even after the case is filed.
What chapter you choose to file under, what bills can be eliminated, how long
payments can be stretched out, and other details are controlled by the
Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. These are federal
laws, which means they apply all over the United States. The Code and Rules are
found in Title 11 of the United States Code. The various sections of the
Bankruptcy Code are referred to throughout this booklet as "11 U.S.C. §
____." In addition to the Bankruptcy Code and Rules, what property you can
keep will be affected by sections 703 and 704 of the California
Code of Civil Procedure.
What are the different
"chapters" in bankruptcy?
Chapter 7 is the liquidation chapter of the Bankruptcy Code. Chapter 7 cases are
commonly referred to as "straight bankruptcy" or
"liquidation" cases, and may be filed by an individual, corporation,
or a partnership. Under chapter 7, a trustee is appointed to collect and sell
all property that is not exempt and to use any proceeds to pay creditors. In the
case of an individual, the debtor is allowed to claim certain property exempt.(1)
In exchange for this, the debtor gets a discharge, which means that the debtor
does not have to pay certain types of debts. (2)
Corporations and partnerships do not receive discharges. Consequently, any
individuals legally liable for the partnership's or corporation's debts will
remain liable. Therefore, individual bankruptcies may be required as well as the
corporation or partnership bankruptcy.
Chapter 9 is only for municipalities and governmental units, such as schools,
water districts, and so on.
Chapter 11 is the reorganization chapter available to businesses and individuals
who have substantial assets and/or income to restructure and repay their debts.
Creditors vote on whether to accept or reject a plan of reorganization which
must be approved by the court. In addition to the filing fee paid to the Clerk,
a quarterly fee shall be paid to the U.S. Trustee in all chapter 11 cases.
There is no debt limit under Chapter 11. To qualify as a "small business
chapter 11," the debtor must be engaged in commercial or business
activities, other than the ownership of real property, and the total of its
secured plus unsecured debts must be less than $2,190,000. Due to the expense
and complexity of chapter 11, the decision to file a chapter 11 petition should
be made in consultation with an attorney.
Chapter 12 offers bankruptcy relief to those who qualify as family farmers or
family fishermen. There are debt limitations for chapter 12, and a certain
portion of the debtor's income must come from the operation of a farming or
fishing business. Family farmers and family fishermen must propose a plan to
repay their creditors over a period of time from future income and it must be
approved by the court. Plan payments are made through a chapter 12 trustee who
also monitors the debtor's farming or fishing operations while the case is
pending.
Chapter 13 is the debt repayment chapter for individuals with regular income
whose debts do not exceed $1,347,550 ($336,900 in unsecured debts and $1,010,650
in secured debts), including individuals who operate businesses as sole
proprietorships. It is not available to corporations or partnerships. Chapter 13
generally permits individuals to keep their property by repaying creditors out
of their future income. Each chapter 13 debtor proposes a repayment plan which
must be approved by the court. The amounts set forth in the plan must be paid to
the chapter 13 trustee who distributes the funds for a percentage fee. Many
debts that cannot be discharged can still be paid over time in a chapter 13
plan. After completion of payments under the plan, chapter 13 debtors receive a
discharge of most debts.
Chapter 15 is a new chapter to deal with insolvency cases involving debtors,
assets, claimants, and other parties in interest in more than one country. Due
to their complexity, these "cross border insolvency cases" will always
need a lawyer.
1 Additional
information about exempt property may be found in item 14.
2 For additional information about discharges and
dischargeable debts, please see items 22, 23
and 24.
*This site is not affiliated with any lawyer or law firm.
All information is provided for reference purposes only. Please consult a
qualified attorney before taking any legal action.
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