Corona and Riverside, California, Bankruptcy Attorneys
If you are struggling with debt, you may be wondering if bankruptcy is the right option for you. It could be the best strategy for eliminating your debt and achieving a fresh start. However, before you can begin the bankruptcy process, you will need to work with an experienced bankruptcy lawyer to determine what form of bankruptcy you qualify for.
At the Law Offices of Buckey & Schurter, we have been helping consumers and business owners put an end to debt problems since 1994. We will provide you with the opportunity to work closely with an attorney to determine if you qualify for Chapter 7 or Chapter 13 bankruptcy.
Do you qualify for Chapter 7 or Chapter 13? From the initial means testing to helping you rebuild your life after bankruptcy, our attorneys will be with you every step of the way. Contact us today to schedule your free initial consultation.
Chapter 7 Bankruptcy
Sometimes referred to as "straight bankruptcy," Chapter 7 releases individuals from personal liability for certain dischargeable debts, while allowing a debtor to retain most of their assets.
Due to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, consumers who file bankruptcy are required to undergo a means test to determine whether they qualify for relief under Chapter 7.
Chapter 13 Bankruptcy
Chapter 13 is a common remedy for individuals who cannot pass the means test for Chapter 7. Unlike Chapter 7, Chapter 13 bankruptcy requires a debtor to make monthly payments to creditors. This is a particular advantage for individuals looking to save their homes from foreclosure. In a Chapter 13 bankruptcy, similarly to chapter 7, a debtor can keep valuable assets, such as homes or cars, and repay their creditors over time — usually three to five years.
What If You Don't Qualify for Either?
Unfortunately, some people earn too much to qualify for Chapter 7 but don't have enough disposable income to qualify for Chapter 13. If you fall into this situation, our attorneys may be able to set up a plan that will enable you to repay creditors or qualifying for bankruptcy down the road. In this respect, we work as a team in solving your troublesome debt problems.
We look forward to helping you explore your debt reduction options. To contact an experienced bankruptcy lawyer, call 951-893-5394 or toll free 888-591-8958 today.
