If you are being pursued by creditors, at risk of losing your home to foreclosure, or facing vehicle repossession, filing bankruptcy can help by stopping all debt collection efforts in their tracks. By law, once a bankruptcy petition is filed with the court, collection calls, foreclosure activity, and automobile repossessions must be halted until the bankruptcy process is completed. During this time, you will not receive harassing collection calls and will be able to stay in your home and keep your car.
The bankruptcy process can be an ever-changing experience with new laws, court rulings, and the ever-changing practices used by banks, lenders, trustees and creditors. We bring our first-hand knowledge of these evolving practices to every case so that our clients can focus on building their futures, not worrying about the details.
Chapter 7 Bankruptcy
Many people have fears about consumer bankruptcy. Let our law firm work with you to ease your worries. Chapter 7 bankruptcy is sometimes often the first, best step to financial recovery and a fresh start. When you declare Chapter 7 bankruptcy, discharging your unsecured debt is discharged and any nonexempt retaining your assets are liquidated is our goal for you. In most cases, a person filing bankruptcy can keep all of their assets.
Chapter 7 bankruptcy can be a good option for people who have large amounts of credit card debt or other unsecured debt and are having a difficult time making the minimum payments or your minimum payments don’t seem to put a dent in the amount you owe. The entire process can take up to six months to complete and the assistance of an experienced bankruptcy attorney can help to ensure that everything goes smoothly.
Chapter 13 Bankruptcy
In Chapter 13 bankruptcy, the bankruptcy court reorganizes your debts into a three- to five-year repayment plan. Unsecured debts can be reduced to a small percentage of what you originally owed. “The individual’s reorganization”: That’s how the Chapter 13 bankruptcy option is often regarded. It can give you three to five years of breathing room with which to pay down debt while you maintain possession of your home, car and belongings.
The payments you commit to under Chapter 13 go to a bankruptcy trustee. Those funds are then relayed to your creditors. The record of your Chapter 13 bankruptcy remains on your credit report for seven years. You emerge from the legal process feeling confident once again in your abilities to earn, provide and be productive.
Although some credit card disputes may be resolved by calling the credit card company and giving them the correct information about a charge or a balance, there are other circumstances where all attempts are unsuccessful. Whether you need legal counsel to challenge a vendor’s charge or you need an attorney to help you deal with the credit card company, the Law Offices of Kent O. Kirmaci are here to help. Because these matters can easily become highly complex and costly if not handled properly, and involving an experienced lawyer early on can help you avoid a great deal of headache.
Credit Card Debt Settlement
Credit card and other forms of unsecured debt is both frustrating and stressful. Because of the ridiculously high interest rates banks charge, even if you make big payments each month you may not even be reducing the debt. It may feel like you are spinning your wheels in the mud. You can do something about it that will help you quit wasting money, and start saving money for your retirement and for your family’s future. Our skilled lawyers will meet with you to discuss if negotiating with credit card companies for a settlement amount is the best action available.
Collection Defense Litigation
Are you being harassed by debt collectors who call at all hours and send threatening letters? Living with this type of unnecessary interruption and stress is a burden. You can fight back. You should know that you are protected by the Fair Debt Collection Practices Act. The FDCPA is a federal law that sets forth the specific rights of the debtor and further sets forth the acceptable collection practices that the debt collector may use. There are other California and federal laws that offer similar protections from these collection agencies.
Wage Garnishment Defense
You can see wage garnishment coming when you get notice you are being sued. Once the creditor takes a judgment, the creditor’s next action is to collect. This usually means wage garnishment. In wage garnishment your employer receives a court order to deduct a portion of your paycheck to pay for the debt. The creditor may continue with this action until the debt is paid. Once a bankruptcy is filed, the Court orders an automatic stay, preventing creditors from garnishing bankruptcy filers. Even an existing garnishment order may be stopped. Creditor phone calls and collection letters must stop–as long as the creditor in question was listed in the bankruptcy petition.