San Diego Bankruptcy
The Bankruptcy Lawyers at San Diego Bankruptcy Bulldogs, a division of the Law Firm of Vohwinkel & Associates, are well known for the spirit with which they represent their clients. Mr. Rory Vohwinkel, along with his associate attorneys and staff enjoy using California Bankruptcy Law to eliminate their clients’ debts and to help them get a “fresh start.” They also advise and counsel their clients on how to rebuild their credit after bankruptcy. The staff at San Diego Bankruptcy Bulldogs derives real satisfaction from protecting financially pressed individuals in San Diego, CA, that are being taken advantage of by high interest credit card companies and predatory lenders.
The two types of personal bankruptcy that can be filed by an individual or married couple are Chapter Seven Bankruptcy and Chapter Thirteen Bankruptcy. The bankruptcy laws for personal filing are different than corporate filing. Chapter 7 and Chapter 13 also have their own unique set of guidelines. Here is a basic breakdown:
Chapter 7 Bankruptcy:
- Lower income earnings based on household size
- Many assets may be kept and claimed as exempt
- Discharge of all remaining creditor debt
- On credit report for 10 years
- Timeline of 3-5 months to discharge
Chapter 13 Bankruptcy:
- Higher income earnings
- Property can be kept
- 3-5 year debt repayment plan
- On credit report for seven years
- Timeline of 36-60 months for discharge
Although Bankruptcy Lawyers in San Diego handle Southern California filings, the bankruptcy laws in every state are all mandated by the United States Bankruptcy Court.
Meeting with an experienced Bankruptcy Attorney in San Diego, like San Diego Bankruptcy Bulldogs, can help you determine which type of bankruptcy you should file or whether a simple loan modification would be your best option. A Loan Modification is a very straightforward process whereby you are simply re-negotiating the terms. Learn more about Loan Modification in San Diego
Every situation is unique. Whether you should file Chapter 13 Bankruptcy, Chapter 7 Bankruptcy or consider another option such as loan modification depends upon your goals and your own particular combination of assets, liabilities, income and expenses. The first step is to sit down with an experienced bankruptcy attorney to discuss these matters. If you are in San Diego and need to find an effective solution to unmanageable debt, contact San Diego Bankruptcy Bulldogs for a free consultation.