Frequently Asked Questions
Should I File for Bankruptcy?
Bankruptcy is the ultimate tool that can give an honest debtor a clean start. Most people suffering financial hardship have acquired their debts over long periods of time. While most debtors intend to repay their debts, they sometimes find themselves unable to do so because of unexpected changes in circumstances such as health or family problems, job losses or failed businesses. Any of these circumstances, combined with various penalty fees and extraordinarily high interest rates that creditors now charge can result in insurmountable debt, and bankruptcy in this case is the only way to a fresh start.
Should I File Bankruptcy with an Attorney?
Filing for bankruptcy is not as easy as some people think. Bankruptcy is a highly technical and at times confusing area of law. Business owners and consumers are often misinformed about the legal process and repercussions of the filing. A good bankruptcy lawyer spends a great deal of time preparing and reviewing your case to avoid unpleasant surprises during the process.
Bankruptcy is the ultimate tool that can give an honest debtor a clean start. Most people suffering financial hardship have acquired their debts over long periods of time. While most debtors intend to repay their debts, they sometimes find themselves unable to do so because of unexpected changes in circumstances such as health or family problems, job losses or failed businesses. Any of these circumstances, combined with various penalty fees and extraordinarily high interest rates that creditors now charge can result in insurmountable debt, and bankruptcy in this case is the only way to a fresh start.
Should I File Bankruptcy with an Attorney?
Filing for bankruptcy is not as easy as some people think. Bankruptcy is a highly technical and at times confusing area of law. Business owners and consumers are often misinformed about the legal process and repercussions of the filing. A good bankruptcy lawyer spends a great deal of time preparing and reviewing your case to avoid unpleasant surprises during the process.
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How Much Will My Bankruptcy Cost?
One of my duties as a bankruptcy lawyer is to set reasonable fees that my clients can afford, and to tell them upfront exactly how much they will spend. My clients never have to worry about hidden fees. Likewise, I offer competitive pricing to assist creditors in their collection efforts and in navigating the bankruptcy waters. My first consultation with you is free. What Services Should I Expect from My Lawyer? I provide a comprehensive financial analysis for every one of my clients in order to determine which option is best for each particular situation. The most important goal when assisting clients facing financial hardship is to help them regain control of their financial life. I believe that this can only be achieved through a careful and individualized process. |
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What Should I Do if a Debtor to My Business Files for Bankruptcy?
The bankruptcy process can be just as daunting for the creditors. Howett Isaza can guide business owners through creditor hearings, lifting of the stay in bankruptcy, and even bankruptcy litigation to challenge the discharge of certain debts. Howett Isaza is equipped to help business owners navigate the complex process of such bankruptcy proceedings.
What is the Difference Between Chapter 7 and Chapter 13?
Chapter 7 bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors. The debtor usually receives a discharge of all dischargeable debts within four months. In the vast majority of cases, all of the debtor’s assets are protected, so Chapter 7 would give that person a relatively quick "fresh start."
Conversely, Chapter 13 Bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. This type of bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.
Do you have any other questions?
Please feel free to call me at 909.908.6251, or send an e-mail.
The bankruptcy process can be just as daunting for the creditors. Howett Isaza can guide business owners through creditor hearings, lifting of the stay in bankruptcy, and even bankruptcy litigation to challenge the discharge of certain debts. Howett Isaza is equipped to help business owners navigate the complex process of such bankruptcy proceedings.
What is the Difference Between Chapter 7 and Chapter 13?
Chapter 7 bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors. The debtor usually receives a discharge of all dischargeable debts within four months. In the vast majority of cases, all of the debtor’s assets are protected, so Chapter 7 would give that person a relatively quick "fresh start."
Conversely, Chapter 13 Bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. This type of bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.
Do you have any other questions?
Please feel free to call me at 909.908.6251, or send an e-mail.
Disclaimer: The information presented at this site should not be considered formal legal advice, nor the formation of a lawyer or attorney client relationship. Please note that you are not considered a client until you have signed a retainer agreement and your case has been accepted by us. You should consult an attorney in your area for individual advice regarding your own situation.
Copyright © 2012 - All Rights Reserved
Copyright © 2012 - All Rights Reserved
