Looking for help out of financial crisis? Want to learn about bankruptcy and its legal ramifications from a legal professional but don’t know where to start? To find the best bankruptcy attorney in OC, people who are dealing with financial issues should compile all debt and asset related information including student loans, credit cards, lawsuits that have already been filed, judgments creditors have obtained, liens, homes, cars, savings, jewelry, and even insurance policies and inheritance before meeting with an attorney. Choosing the right legal representation to handle an OC, CA bankruptcy case is important if the person going through bankruptcy wants to negotiate keeping assets and property that could possibly be forfeited.
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Bankruptcy laws tend to change and can be difficult to decipher. In most cases, it takes a skilled OC bankruptcy attorney to help people interested in filing bankruptcy to figure out what type of bankruptcy would need to be filed. An OC bankruptcy attorney will be able to help people complete the Bankruptcy Means Test that determines if people are able to file a Title 7 bankruptcy in CA. The means or income test looks at current monthly income and helps figure allowable living expenses under The IRS National Standards for Allowable Living Expenses. Additionally, before bankruptcy can be filed by an OC bankruptcy attorney, the people filing for bankruptcy must complete mandatory credit counseling, a mandatory debt management course and must submit the previous year’s tax return for the means test if one was filed.
What to Look for in Qualified and Affordable OC Bankruptcy Attorneys
Bankruptcy attorneys understand the financial position their clients are in, and they often have payment plans and low initial retainers to help give people looking to file for bankruptcy in the OC, CA area a chance to have legal representation while getting back on their feet. Clients who need to file a Chapter 7 bankruptcy, a Chapter 13 bankruptcy that helps a debtor restructure payment of debts or even a Chapter 11 bankruptcy for a small business can all find affordable OC bankruptcy attorneys to meet their needs. Some bankruptcy attorneys make a promise to save the debtor more money than the debtor will spend to pay them. No matter what type of bankruptcy is being filed, the debtor will have to pay a filing fee to the United States Bankruptcy Court. Understand what the OC bankruptcy attorney can offer and make sure an exact schedule of payments is agreed upon before moving forward.
A qualified bankruptcy attorney in OC will not only help with bankruptcy filing, but will also help protect debtors from creditors while they reorganize finances. Whether a debtor needs help with credit card debt, garnishment, unpaid medical bills or harassment from other types of creditors, a qualified OC bankruptcy attorney will be able to give legal advice and help create a solution for solvency. The best bankruptcy attorney will give their clients personal attention and have an analytical approach to the facts. Every debtor is counting on their attorney to help them avoid bankruptcy or achieve the best possible outcome. Once an attorney files a petition for bankruptcy in OC, creditors must stop contacting debtors and await the terms of the monthly payment schedule.
To find a qualified OC bankruptcy attorney, pay close attention to the attorney profiles and areas of expertise when interviewing attorneys or gathering information from their offices. Is the attorney certified as a bankruptcy specialist? Does the attorney know the local OC judges and trustees? What kind of technology does the bankruptcy firm use to aid in preparing bankruptcy cases? Ask lots of relevant questions, and compare the services being rendered for the proposed fees. Check with the State Board of California Board of Specialization to inquire about bankruptcy specialists in OC.
Additionally, a bankruptcy attorney may be able to negotiate with lenders for loan modifications debtors would never be able to achieve on their own. If the lending institution turns down the modification request, the lender can then file bankruptcy in an OC court with the help of their attorney. An OC bankruptcy attorney can prove invaluable in a foreclosure defense case and can help clients not only through loan modification to keep their home but could also help negotiate debt consolidation and other options to bypass bankruptcy and get back on track financially. If Chapter 7 bankruptcy has been filed, a Notice of Discharge sent from the Court after the matter has been settled means creditors named in the case can never contact or collect from the debtor again regarding the discharged debt.
