How Bankruptcy Attorney in Sacramento CA Can Help Preserve Your Future

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There have been numerous changes made over the past ten years or so regarding the regulations and rules concerned with filings for federal bankruptcy protection. For this and several other reasons, selecting the correct bankruptcy attorney in Sacramento CA is of paramount importance.

Attempting to find one’s way through the many federal laws and regulations involved in this procedure truly requires the expertise of a professional who understands all that is involved. Although the protection is still in fact in place, some of the new procedures are there to guarantee the complete integrity of the individual who is filing the bankruptcy claim. In addition, some of the latest procedures have been instituted for the purpose of trying to make certain a situation that is similar to this one will not be occurring again in the future.

Selecting a competent professional bankruptcy attorney in Sacramento CA to go over and explain all of the minute details of this sometimes complicated process is truly so important as well as so comforting at a difficult time. The calm guidance leading one through the intricacies at a time their mind is most likely racing in a hundred different directions is so appreciated.

The value of having that concerned and caring bankruptcy attorney in Sacramento CA who will offer the very best advice and counsel to help deal with what are often extremely aggressive creditors cannot be overstated. These creditors have one agenda and one agenda only, and that is to try and get a hold of whatever assets they possibly might from the person who has filed for bankruptcy. They are relentless and truly uncaring toward the individual experiencing and going through this trying time. It can be very upsetting and nerve rattling and having that experienced bankruptcy attorney in Sacramento CA to offer any and all legal protections and advice is invaluable. Just knowing and understanding that at least someone else cares about the person involved and their family is worth whatever costs might be involved in the proceedings.

For the most part a debtor may file according to the requirements and qualifications under one of basically three chapters. It is true that there are several other chapters but these are much less commonly used or for businesses (ie. Chapter 11). The chosen bankruptcy attorney in Sacramento CA is the one who will direct the client to the proper place for them to be. Each situation is unique to the individual involved in it and the attorney is the best choice to guide one to the proper place for them to be. Not every one of the chapters require the person involved to actually appear in court. One’s bankruptcy attorney in Sacramento CA will advise them when and if it is necessary for them to appear, and of course if it is, they will be with the client every step of the way.

A Chapter 7 filing, sometimes referred to as a “no asset case”, is basically one in which the debtor has no means or assets to be able to pay any of the debts that they do owe at all. This filing is also for the individual and not a business. Basically, there are no assets to liquidate and no means whatsoever to distribute anything at all. The individual basically got themselves into a situation where they were drowning with no way to reverse what was happening. One’s bankruptcy attorney in Sacramento CA can and will provide all direction in this area.

One should keep in mind that all information regarding the proceedings will remain on the record for a period of ten years. The good news is that the person involved is allowed to attach a statement to the record explaining their side of the bankruptcy and what happened. They are able to report any difficult circumstances that may have led to this happening. Often, this will be a big help in getting future credit.

There is also a Chapter 13 filing. Basically, this is one where the debtor does have assets that can be liquidated to help satisfy their creditors. Again, the bankruptcy attorney in Sacramento CA will work in conjunction with the federal trustee to set up a repayment schedule the individual involved can live with and the debts will be repaid and when completed the bankruptcy will be discharged.

One should realize that filing under chapters where debts will be repaid require the debtor to reaffirm their debts to the creditors. Everyone must then be in agreement as to the terms of the repayment plan. These can be very delicate proceedings and having the best bankruptcy attorney in Sacramento CA available can be very comforting during this time.

The bankruptcy proceedings require the debtor to be subject to what is known as a “means test”. What this basically produces is a way for the court to examine all the information provided so that a determination can be made as to what chapter one should be filing under.

In addition, the debtor will be required to take some credit counseling classes that are designed to assist them getting back on their feet and moving forward in the right direction. At time, these classes are available online, or if not, there are a wide variety of times and dates available so as to fit any and all schedules.

The bottom line is that one’s bankruptcy attorney in Sacramento CA can and often will be the lifeline to a brand new and greatly improved life for the individual involved

 

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