The Bankruptcy Process
Valencia Bankruptcy Attorney
If you are facing overwhelming debt and are considering filing for bankruptcy, you should understand the different types of bankruptcy protection available and the steps necessary to qualify for the relief and protection bankruptcy can provide. Your first step should be to meet with a Valencia bankruptcy lawyer at Financial Recovery Law. We can review your particular financial situation with you in a free consultation and explain the different options available.
We have helped over 5,000 clients solve their financial difficulties through bankruptcy since 2001.
All our attorneys are dedicated to helping individuals and business owners who are faced with burdensome debt and who need a chance to rebuild their financial lives. The first step is to provide us with the last six months of your income to calculate your average income. This is compared to the median income for families of the same size living in your city or county. If your income is equal or below this amount you will qualify for chapter 7 bankruptcy. If it is higher, then you will need to do a more thorough "means test" to factor in your debts and expenses and see if you might still qualify. If not or if you have significant equity in your home or other assets you wish to protect, you will probably qualify for chapter 13 bankruptcy.
Speak to a Bankruptcy Lawyer in Valencia
Once it is determined which type of bankruptcy you are qualified for, you must submit your forms to be filed with the court. Immediately, the court will issue a "stay" that prevents any bill collectors or creditors from contacting you. In a chapter 7 bankruptcy, about 30 to 40 days later you will need to appear at a meeting with the bankruptcy trustee and your creditors. Your lawyer will be there to represent your interests. 60 to 75 days later the court will discharge all your unsecured debt and declare your bankruptcy complete. The chapter 13 bankruptcy process is different in that the court will reorganize your debts into a single monthly payment calculated to pay them all off within five years. Your home and other assets will be protected. Speak to one of our skilled attorneys today.
Contact a Bankruptcy Attorney in Valencia to find out how the bankruptcy process works and what to expect.
Real Stories From Real People
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"Clearly understood"Great explanation. Clearly understood. Ready for the next step!- Benjie B.
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"Thank you for your help."Very informative and highly recommended. Thank you for your help. God bless you Attorney Ray.- Michael C.
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"Very impressed"Very impressed with Mr. Bulaon. He is obviously very good at what he does. He is friendly, smart, and patient and makes you feel comfortable right away. I wouldn't hesitate to hire this firm or recommend him to anyone needing the service he provides!- Traci B.
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"Very professional and kind person."Very helpful. Explained every possible way to solve my case. Very professional and kind person. Thank you for helping me again.- Normita
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"Thank you"After being frustrated with our case being prolonged by another firm, I found Mr. Bulaon of RJB Law Offices. I was very pleased with our initial meeting. I look forward to getting our case resolved finally and behind us. My only disappointment was with myself for not finding Mr. Bulaon sooner. Thank you.- Verla R.
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"Very professional"Very professional and informed, his knowledge of our situation was obvious and I feel we will come to a great resolution.- Michael G.
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