Regain Control of Your Financial Life
Stop the Collection Calls and Letters!
If you are reading this, it is likely that you are receiving collection calls and letters on a daily basis. You are facing a financial crisis and need sound advice on how to resolve it. Depending on your situation, it may be possible to renegotiate debts, but sometimes the best solution is to file for bankruptcy.
How to Get Started
You need an attorney who can guide you through the bankruptcy process. As in any other profession, in law there are generalists and there are specialists. You want to be sure to find a Bankruptcy Specialist; unless your attorney has a thorough command of the law, it’s easy to make errors that could cost you financial peace of mind rather than restoring it.
Your attorney should…
- Be a member in good standing of the California Bar Association
- Have a track record of satisfied clients
- Specialize in Bankruptcy
- Have practiced Bankruptcy law regularly
- Take continuing education courses to stay abreast of changes in the law
- Know the court judges’ rules
- Be someone with whom you’re comfortable discussing your finances
- Offer a free consultation to assess your situation
- Chapter 7, Chapter 11 or Chapter 13?
The different types of bankruptcy – known by their law chapters – are appropriate for different circumstances. Here is a simplified overview of the most commonly used chapters:
If done right, bankruptcy will eliminate your debts and allow you to keep your assets.
Chapter 7 – If you or your company or corporation cannot afford to pay back debts, Chapter 7 discharges them. You may keep some or all of your assets.
Chapter 11 – If you or your corporation has significant* debts that you cannot afford to pay back at the current rate, Chapter 11 reorganization restructures them so you can catch up and repay what you owe at a pace you can afford.
Chapter 13 – If you have less significant debts (under the limits set for Chapter 11), Chapter 13 reorganization allows you to restructure them so you can catch up and repay what you owe at a pace you can afford.
Filing bankruptcy stops the collection calls and letters
Because the law is more complicated than this summary can explain, Burton Law Offices will need to review your unique circumstances to make a recommendation.
*Unsecured debts of more than $360,475 and secured debts of more than $1,081,400 (updated for cost of living increases).