Even though you own a highly valued home or other significantly valued, non-exempt assets and have a well-paid job, your bills can become overwhelming.
At the Law Office of John Iaccarino, we help people get the debt relief they need. With more than 20 years of experience, our Burlingame Chapter 11 bankruptcy lawyers can help you if your situation becomes unmanageable. Call or e-mail us for a free initial consultation.
Redwood City Lien Stripping Lawyers
Recent developments in California law have made it possible for individuals to file Chapter 11 bankruptcy in situations where they do not qualify for filing, and/or it would not be beneficial to file for Chapter 13 bankruptcy. California residents are well suited to filing for Chapter 11 bankruptcy because of inflated property prices.
Chapter 11 bankruptcy provides for similar benefits to filing for Chapter 13, but you may create a payment and debt restructuring plan for $1 million in secured debt and approximately $330,000 in unsecured debt, much higher than the debt parameters existing to file for Chapter 13 bankruptcy. You are also able to cram down auto loans with negative equity under Chapter 11, regardless of when they were purchased. Further, there is no state trustee or debtor in possession unless the court intervenes, so you need only work with the U.S. trustee.
It is important that you work with a knowledgeable San Mateo bankruptcy lawyer who has specific experience with handling Chapter 11 bankruptcies, as the timelines and procedures are substantially different than with Chapter 13 bankruptcy.
Daly City Bankruptcy Filing Law Firm for a Free Consultation
Call our Redwood City lien stripping attorneys or send us an e-mail to schedule a free initial consultation. We find it rewarding to help our clients find a financial solution that meets their unique needs.
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