How much does a bankruptcy lawyer in san diego cost?

The cost of filing bankruptcy in San Diego can vary depending on the type of bankruptcy you file. Chapter 7 bankruptcy can typically cost between $300 and $1,500 to file, while Chapter 13 bankruptcy can cost between $200 and $1,000. However, these costs may be lower or higher depending on the individual's case. Cost of Bankruptcy If you are considering filing for bankruptcy, it is important to consult with an experienced attorney who can help you understand your options and guide you through the process. Contact our law office for more information about the cost of filing bankruptcy in San Diego.

What is the difference between Chapter 7 and Chapter 13 bankruptcy in San Diego?

The main difference between Chapter 7 and Chapter 13 bankruptcy is that in a Chapter 7, the debtor's nonexempt assets are liquidated to pay creditors, while in a Chapter 13, the debtor's debts are restructured so that he or she can repay them over time. Chapter 7 Bankruptcy In a Chapter 7 bankruptcy, the debtor gets a "clean slate" and is discharged from most of his or her debts. A Chapter 13 bankruptcy, on the other hand, allows the debtor to keep most of his or her property and to repay creditors over time. There are other important differences between these two types of bankruptcy as well. For instance, in order to file for Chapter 7 bankruptcy, the debtor must pass a "means test" that

What bankruptcy clears all debt in San Diego?

Bankruptcy can clear all debt, but there are a few things you need to know about bankruptcy first. When you file for bankruptcy, the court orders a "bankruptcy discharge." This order eliminates most of your debts. However, not all debts are eliminated. Debts that cannot be discharged in bankruptcy include child support and alimony payments, some taxes, student loans, and court fines. Filing for Bankruptcy In most cases, filing for bankruptcy can provide relief from creditor harassment and give you a fresh start financially. However, it's important to remember that bankruptcy is a serious decision that should not be taken lightly. Speak with an experienced bankruptcy attorney at our san diego office to learn more about how filing for bankruptcy can help you get back on track financially.

What happens if you file for bankruptcy in San Diego?

When you file for bankruptcy in San Diego, California, the court will appoint a trustee to oversee your case. The trustee will review your financial situation and make recommendations to the court on how to best repay your creditors. Typically, this involves liquidating some of your assets and using the proceeds to pay off your debts. In most cases, filing for bankruptcy can provide relief from creditor harassment and give you a fresh start financially. However, it's important to remember that bankruptcy is a serious decision that should not be taken lightly. Speak with an experienced bankruptcy attorney to learn more about how filing for bankruptcy can help you get back on track financially.

Do you have to pay back debt after bankruptcy?

There is no one-size-fits-all answer to this question, as the decision of whether or not to pay back debt after bankruptcy will depend on the particulars of your case. However, in general, you will likely be required to pay back at least some of your debt after declaring bankruptcy. If you have significant assets that can be used to repay your debts, you may be asked to do so. In other cases, a repayment plan may be put in place that allows you to gradually pay off your debts over time. It is important to speak with an experienced bankruptcy attorney if you are considering declaring bankruptcy, as they will be able to advise you on what is likely to happen in your specific case.

How do you know if bankruptcy is right for you?

Bankruptcy is a big decision, and it's not something to take lightly. The most important thing to keep in mind is that bankruptcy is a last resort, and you should explore all other options before making a final decision. Some factors to consider include: your total debt load, your ability to make payments each month, whether you have any assets that could be liquidated, and whether you have any major upcoming expenses (like car repairs or medical bills). If you decide that bankruptcy is right for you, there are two main types of bankruptcy to choose from: Chapter 7 and Chapter 13. Chapter 7 is the more common type, and it involves the liquidation of most of your assets in order to pay back your debts. Our San Diego Bankruptcy Experts can help guide you through the entire process of choosing which bankruptcy is right for your situation.

How Long Does a Bankruptcy Case Take?

Every bankruptcy case is unique, and it is difficult to predict exactly how long your bankruptcy case will take. The amount of time a bankruptcy case takes from start to finish depends on which type of bankruptcy you filed for and your unique circumstances. These factors can either hasten or delay bankruptcy proceedings. Typically, chapter 7 bankruptcy takes less time than chapter 13 bankruptcies, which are more complex and usually last between three and five years. If you are a business owner filing for chapter 11 bankruptcy, the process will likely be complicated and time-consuming. How Long Do Chapter 7 Bankruptcy Cases Take? Chapter 7 bankruptcies are called liquidation bankruptcies because they involve liquidating your assets to pay off your creditors. People with high debt and limited income typically file for chapter 7 bankruptcies. For most people, a Chapter 7 bankruptcy will take around four to six months to be completed. The first step in filing for a Chapter 7 bankruptcy involves filing a petition and listing all your assets, debts, and information about your creditors. You will need to meet with the trustee assigned your case, complete a meeting with your creditors, and give your trusty time to sell your assets and pay off your creditors. If the trustee needs more information from you, the bankruptcy process will take longer. How Long Do Chapter 13 Bankruptcy Cases Take? Once your petition for chapter 13 bankruptcies is filed, you will need to work with your bankruptcy trustee and create a plan to reorganize your debt. This process will involve consolidating your debts and creating a payment schedule. The bankruptcy trustee will supervise your repayment plan. You will make a lump sum payment to the trustee every month, and the trustee will pay your creditors and turn. There is typically more detail involved in a Chapter 13 Bankruptcy than in a Chapter 7 bankruptcy. Chapter 13 bankruptcies last longer because it usually takes between three and five years to repay debt. How Long Do Chapter 11 Bankruptcy Cases Take? Businesses struggling to stay open and pay their debts may benefit from filing a Chapter 11 bankruptcy. Chapter 11 bankruptcy gives business owners some time to get back on their feet financially. Individuals can also file for Chapter 11 bankruptcy, but this is rare. A Chapter 7 bankruptcy goes fairly quickly, but a Chapter 11 bankruptcy typically involves multiple hearings. The principals will need to be prepared to testify for these hearings. As a result, Chapter 11 bankruptcy can be drawn out for a year or more. Contact a Skilled San Diego Bankruptcy Lawyer Do you have questions about filing for bankruptcy, including how long it will take before your bankruptcy is finalized? If so, the experienced lawyers at Bankruptcy Law Center are here to help. Contact our San Diego Bankruptcy Law Firm today to learn more about how we can help you get a fresh financial start.

Why Do Most People Declare Bankruptcy?

In many cases, bankruptcy is not caused by overspending or recklessness. Filing for bankruptcy is often seen as a negative option for people who cannot manage their money. On the contrary, many people file for bankruptcy or hard-working individuals who simply cannot afford to deal with major and expected expenses such as medical bills or job loss. Additionally, bankruptcy filings usually increase whenever there is an economic downturn. We will discuss some of the most common reasons people file for bankruptcy in the United States. Divorce and Legal Separation Going through a divorce can be traumatic on many levels, including emotionally and financially. When two spouses get divorced, their income is divided. Many couples will go through a period of legal separation. The expensive setting up another home, such as paying another rent payment or mortgage, can hurt the couple’s financial situation. They will also incur legal fees, which can be extremely high depending on the divorce. The longer the divorce lasts, the higher the legal fees and costs. The couple will need to deal with the division of their marital assets, spousal support, child support, and/or alimony. Finally, they will need to deal with the ongoing cost of maintaining two separate households after the divorce. Medical Bills Due to an Illness or Disability Severe illness or injury can happen to anyone at any time. It only takes car accidents or diagnoses to result in hundreds of thousands of dollars in medical bills. Although many Americans have health insurance, they may still have to pay expensive premiums. A patient's treatment may not be covered by their insurance, costing them thousands of dollars in additional fees. Due to the high cost of hospital stays, surgery, and medication, one illness or ailment can devastate a person financially, making it necessary to file for bankruptcy. Job Loss or Reduction in Income The coronavirus pandemic has caused a volatile job market and economy. Many people have been laid off or had their hours cut unexpectedly. Before the great recession, most people filing for bankruptcy had lost their incomes due to unemployment. This group of bankruptcy filers ranged from around 35% of all filers. That figure got as high as 42% of all bankruptcy filers in the middle of the great recession. Currently, over half of Americans have less than three months’ worth of expenses saved in their emergency fund. Out of every four Americans do not have an emergency fund at all, up from 21% of Americans in 2020. Only one out of every six Americans reported having more cash saved today than before the pandemic. 34% of people say they have last money in their savings account, as I did before the coronavirus pandemic. The lack of emergency fund savings can be devastating for people who experience job loss. Many Americans cannot survive two to three months without a job, and they are living paycheck to paycheck. If they lose their job or have their income reduced in any way, they may not be able to pay their bills. Filing for bankruptcy can be one of the best options to protect themselves and their savings. Job loss is due to a disability or medical illness in some cases. When an employee loses their job, the employee will also lose health insurance coverage. The employer needs to pay for intermediary COBRA insurance that will drain the job seeker’s limited financial resources. Those who cannot find another job for an extended time frame may not be able to recover from their lack of a steady income to keep their creditors satisfied. Most employees do not receive any type of severance package to help tide them over. Unexpected Emergencies Many people who need to file for bankruptcy do so because of an unexpected expense. They may have experienced property loss due to theft or natural disaster. Floods, tornadoes, and earthquakes can all place someone who was otherwise financially stable into an unstable situation. For example, many homeowners do not know that they have to take out separate insurance coverage for some types of natural disasters such as earthquakes. People who do not have coverage can lose their homes and most of their possessions. They will run through their emergency funds quickly by merely paying for temporary shelter. Consumer Overspending Approximately one-quarter of people who file for bankruptcy say that they have overspent and abused credit cards and consumer debt, leading them to seek bankruptcy protection. Poor personal finance choices have played a significant role in bankruptcy filings for any consumer-driven economy. As mentioned above, the market has become more volatile due to shutdowns in the coronavirus pandemic. Many people have used credit cards to get them through the end of the month and pay their bills. Once they are a significant amount of money to the credit card company, it can be difficult to continue paying their credit card bills and other bills. The consumer debt begins to snowball. Filing for bankruptcy can be one of the best options for people with a significant amount of consumer dad to seek help. Addiction Americans have become increasingly dictated to opioids. Approximately one out of every hundred bankruptcies result from some type of addiction, whether it is substance abuse or gambling. Alcoholism is another common cause of financial destruction. We suspect that the number of people who file for bankruptcy due to addiction is higher than we know because many people do not self-report. For example, for gambling addicts, the number of bankruptcy cases likely ranges up to 10%. Even when people try to get help for their addiction, they can suffer devastating financial consequences. Many insurance companies do not cover stays in rehabilitation facilities, requiring people to pay out of pocket.

What are the Alternatives to Filing for Bankruptcy?

Filing for bankruptcy can help you achieve a fresh financial start. Although there is still a stigma around bankruptcy, many people have been able to file for bankruptcy, recover a good credit score, and go on to make smart financial decisions in the future. Nonetheless, filing for bankruptcy is a serious decision. It can reduce your credit score and make it more difficult for you to borrow money or make finding a job or housing more challenging. Before you file for bankruptcy, understanding alternatives to bankruptcy can help you make sure you are making the right decision for yourself and your future. There are several alternatives to filing for bankruptcy that may be valid options for you. Debt Settlement Whether you use a debt settlement company or try to negotiate yourself, you may be able to agree with your creditors to pay less. Depending on your circumstances, you may be able to pay considerably less than the debt you owe. The debt collector or creditor needs to be willing to accept partial payment from you in exchange for settling the total balance to achieve a fair settlement. You will need to be in default to pursue debt settlement. Usually, creditors will not forgive part or all of your debt if you make the minimum monthly payment. However, if you are in default or file for bankruptcy, creditors may cut their losses and be willing to strike a deal. You should only pursue settlement for debts you have stopped paying. Meanwhile, continue making minimum monthly payments on the debts you can afford. You may want to consider working with a bankruptcy attorney who can negotiate a settlement agreement for you. Taking Out a Debt Consolidation Loan A debt consolidation loan is a loan that combines all of your debt into one payment. Instead of having to deal with multiple payments, you will only have to deal with one monthly payment. Suppose you have five credit cards with $5,000 each on them. You owe $25,000 in debt. Your average interest rate is 20 percent. With a debt consolidation loan, you may lower monthly payments and lower your interest rate to 15. The terms you will be able to get through that consolidation depend on multiple factors, including your credit and how much you want to combine your debt. Don’t worry about your credit score or report. Debt consolidation usually will not lower your score. You should keep in mind that there are predatory debt consolidation companies that will try to take advantage of you or could even be engaging in nefarious activities. Debt Management Through Debt management allows you to collaborate with a debt consolidation or credit counseling company to help you manage your debts. You will pay through the debt management company, which will try to negotiate the debt interest rate for you. You may be able to waive certain fees that will help you put money toward your monthly payment. A debt management agency will look through your debt and determine the amount it will take for you to pay off your debts within a certain time frame, usually three to five years. You will begin making payments to the company that will pay the creditors on your behalf. Many debt management agencies take advantage of customers, so it’s important that you understand the agreement you are signing before you sign it. Refinancing Your Mortgage The mortgage payment is the most significant debt and the largest monthly payment they owe for many. It may be possible for you to refinance your mortgage to save hundreds of dollars a month that you can put toward paying off your debt. In the mortgage refinancing process, the homeowner acquires a new mortgage loan that replaces their previous loan. For example, suppose you owe $300,000 on your mortgage, but the value of your home is now $600,000. You have $300,000 in equity. If you refinance your mortgage, you could use the extra cash to pay off your debt. However, your monthly payment may also be higher. For example, suppose you are 10 years into a 30-year loan. If you refinance, you will be back on a 30-year loan. Home Co-Investment Beware exemptions protect your assets from being liquidated in a Chapter 7 bankruptcy. When you are considering filing for bankruptcy, one of the challenges could be that your home has equity above California’s bankruptcy homestead exemption. For example, if your home equity exceeds the exemption limit and you file for chapter 7 bankruptcy, you could risk losing your home. If you file for chapter 13 bankruptcy, your payment plan could be too expensive. You may be eligible to obtain a reverse mortgage. These challenges make it difficult for many people to file for bankruptcy. There is something called co-investment in which a company will invest in your home for a share of your home’s equity. When you sell your home, you will get some of the equity, but the co-investor will also yield a profit. One of the benefits of using this program is to access the equity in your home in a debt-free way. Not all homes are eligible, and you should consider the pros and cons of this option before you do it. A downside could be that a lien is placed on your house. Make sure you understand how long you will have to share the equity back with the company and how much Equity you would be required to share with them if you sell your home. Paying Off Debt Before you file for bankruptcy, you should consider whether you can pay off debt yourself. Many phone apps can help you get out of debt faster. The snowball method, which starts by listing all deaths from smallest to largest, is a popular debt repayment method. They begin paying off the small debt and then making their way to the largest. Watching debts as they are paid off can be motivating. You may want to consider working with a financial planner who can help you make a strategy to pay off your debt.

What if I Do Not Qualify for Chapter 7 Bankruptcy?

If you are considering filing for Chapter 7 bankruptcy, you will need to pass a means test before applying. The means test looks at your income and expenses to decide if you can repay enough of your unsecured debts to your creditors. If you can pay enough of your debt on your own without filing for bankruptcy, you will not qualify for a Chapter 7 bankruptcy. What happens if you want to file for Chapter 7 bankruptcy but do not need the means test? There are several different options available to you. Review the Means Test for Accuracy If you calculated the means test on your own, we recommend requesting assistance from a lawyer. A bankruptcy lawyer can review your case and help you determine whether you failed the means test or whether a mistake caused you to fail. The means test is one of the most complicated forms debtors need to complete in the bankruptcy process. As a result, making mistakes is common. Some of the most common mistakes include the following: overestimating your income using the wrong household size underestimating or missing important deductions that you are left to take Delay Your Filing if You Can Pass the Means Test Later When you complete the means test, it will request information about your average income for the six months before you filed for bankruptcy. If your situation has changed in the last six months, the means test may not accurately reflect your financial circumstances. For example, if you lost your job or received a pay cut, waiting a few months to retake the means test would lower your average income and could allow you to qualify for a Chapter 7 bankruptcy. File for Chapter 13 Bankruptcy Instead If you have availed yourself of the options listed above and you still cannot pass the Chapter 7 means test, it is time to consider filing for Chapter 13 bankruptcy. In a Chapter 13 Bankruptcy, you will work with the bankruptcy trustee to develop a plan for how you can repay a portion of your debts over a three to five-year time frame. The trustee will consider your income, expenses, and non-exempt property to determine the amount of your monthly payments. Most debtors only end up paying pennies on the dollar toward their unsecured debt, such as medical bills and credit cards. Even if you were not eligible to file for Chapter 7 bankruptcy, filing for a Chapter 13 Bankruptcy could significantly help you. Contact a San Diego Bankruptcy Lawyer If you would like to discuss the options available to you, the best thing you can do is discuss your case with a bankruptcy lawyer. The best thing you can do is discuss your case with a bankruptcy lawyer. Our experienced lawyers have helped many San Diego residents file for bankruptcy at Bankruptcy Law Center and began a fresh chapter of their lives. Contact us today to schedule your free initial consultation.

About
Our Firm

Want to know about us?

Our expert bankruptcy attorneys have filed literally thousands of bankruptcy cases for consumers, including Chapter 7 and Chapter 13, providing San Diegans with an unprecedented level of professional commitment and service. The Bankruptcy Law Center is proud of its team of lawyers, paralegals and thoughtful staff and we believe that we are the most diligent and committed bankruptcy law firm in the Greater San Diego area. We are serious and passionate about getting you the relief you need when you need it most.

Our Locations

The Bankruptcy Law Center serves the Greater San Diego area with offices in downtown San Diego and Vista.

We also serve the inland areas of San Diego, Riverside and San Bernardino Counties. And with an office in Los Angelesas well, we pretty much have Southern California covered, from the mountains to the desert to the sea! Call us today if you are in need of a Experienced Bankruptcy Attorney .

Our Team of Professionals

We believe that we have the most talented team of bankruptcy lawyers in the entire United States. With decades of experience in bankruptcy law, and with litigation and related experience in other key fields of law, you’ll quickly find that our team can handle any financial problem no matter the origin.

Whether your problems arise from foreclosure, divorce, real estate disputes, disputed automobile loans, vehicle repossession, lien disputes, litigation, a failed loan modification or you simply have overwhelming credit card debts, rest assured that our team of lawyers has seen your problem before and that we will quickly and efficiently guide you to your best legal options.

How We Approach Your Financial Situation

We are the best because of our experience and expertise. But we also have a proven method of representation that quickly and efficiently helps people with their most pressing financial challenges. And we are used to helping people that have limited funds and no idea how they can afford to pay a lawyer. You can trust our system because it will work for you the way it has worked successfully for so many people before you!

Here is what you may expect from our honest and sincere approach to your financial problems:

We will meet with you for FREE and provide you with a careful analysis of your situation and your legal options. The banks have lawyers and you deserve a law firm to protect you, so we make it as easy as possible to start the process and to understand your rights—it’s FREE.
We keep our fees LOW and we will show you options for handling payment that will make it easy and painless to get relief from your debts. It’s what we do. Every client that hires us has very little cash and no idea how they will pay a lawyer. And yet, they still file bankruptcy and get a fresh start!
We plan your Chapter 7 or Chapter 13 bankruptcy case and we show you ways to deal with any “risk” that you might face from the loss of a key asset or any troublesome debts (like tax debts, debts that you may not be allowed to discharge, or the need to do some exemption planning to protect your property). There are solutions for you and we will show them to you, explain them and execute a thoughtful plan to deal with any risks.
We will then professionally file and manage your San Diego bankruptcy case.
We will protect you and we will always talk to you before, during and after your case.

You are just one phone call away from getting help. We can stop creditors from harassing you, lower your payments, stop a repossession, and even save your home. Call 1-800-551-7922. Our professional bankruptcy attorneys are ready to assist you in getting your life back on track.

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SAN DIEGO OFFICE

1230 Columbia St. #1100 San Diego, CA 92101

800-551-7922

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11500 Olympic Blvd., 4th Floor Los Angeles, CA 90064

800-551-7922

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380 South Melrose Drive #308 Vista, CA 92081

619-207-4579

Legal Disclaimer: The Bankruptcy Law Center is a California Licensed law firm with attorneys licensed in the state of CA, NY. Attorney Ahren Tiller is responsible for this advertisement. Bankruptcy Law Center’s principal office is located at 1230 Columbia st. Suite 850 San Diego, CA 92101. Prior results listed on this site do not depict or in any way infer a prediction or outcome. Bankruptcy Law Center is a debt relief agency proudly providing options to people with financial problems. View our Privacy Policy

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About
Our Firm

Want to know about us?

Our Locations

Our Team of Professionals

How We Approach Your Financial Situation

See What Our Clients Have To Say

Ready To Eliminate Your Debt?

FREE CASE EVALUATION

SAN DIEGO OFFICE

LOS ANGELES OFFICE

VISTA OFFICE

AboutOur Firm

Want to know about us?

Our Locations

Our Team of Professionals

How We Approach Your Financial Situation

See What Our Clients Have To Say

Ready To Eliminate Your Debt?

FREE CASE EVALUATION

SAN DIEGO OFFICE

LOS ANGELES OFFICE

VISTA OFFICE

About
Our Firm