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Filing Bankruptcy in California With Your Sacramento Bankruptcy Attorney

There are four basic ways to declare bankruptcy. Chapters 11 and 12 focus mainly on corporations and other business types that need to restructure and reorganize. The two we will be focusing on are Chapter 7 and Chapter 13. There are advantages and drawbacks with each method. To decide which option is right for you, you need to be aware of how each one works.

A Chapter 7 typically costs more money upfront; however, it is the better option if the majority of your debts are unsecured. Credit cards are an example of unsecured debt. When you file a Chapter 7, you make a list of all debts that you want to get rid of and take it to your Sacramento bankruptcy attorney to discuss your options. In most cases, especially if credit cards are the main reason you are filing bankruptcy, you will have no problem keeping your house and your vehicles. Once you and your lawyer have decided on the debts that will be placed within the property of the bankruptcy estate, you can move ahead with filing. As soon as you have filed and paid the necessary attorney’s fees, you will be on your way to getting rid of your debts and getting a fresh start financially.

A Chapter 13 costs less upfront because the sacramento bankruptcy attorney can work the necessary fees into the payments you make to the trustee of your account. Chapter 13 is the best alternative for those who are facing foreclosure, who owe a substantial amount of money to the IRS, or who have more secured debts and/or exemptions than is allowable under a Chapter 7. The major difference between a Chapter 7 and Chapter 13 is that under the latter you make monthly payments to your bankruptcy account trustee. This is a better option for those who owe money that cannot be bankrupted out of (like money due to the IRS) or those who face a foreclosure that will lead to later capital gains taxes because it provides you with a legal leg to stand on, so to speak. As long as you make your payments, the government cannot come after you for more money because your Sacramento bankruptcy attorney has filed a legal agreement that implicitly states what you owe and what you are paying to fulfill those secured debts.

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Criterion for Choosing Your Bankruptcy Attorney, Sacramento

Now that you have some basic information about various methods for filing bankruptcy, it is time for you to start looking for a Sacramento bankruptcy attorney. Your first step is to do some research. If you know anyone personally who has filed bankruptcy in the Sacramento area, ask him or her who represented him or her. Ask them what they liked and did not like about their lawyer. If you do not know anyone who has filed, or you do not feel comfortable asking him or her, then look on the Internet. Look for testimonials from different law firms who specialize in bankruptcy.

When you have selected a few law firms that you think are right for you, then start doing some research about the specific attorney who work at those firms. It would be wise to check with the Better Business Bureau and California State Bar Registry to find out if any complaints have been filed against the attorneys you are considering. Next, you should start calling the firms to speak with the lawyers themselves, or at least make an appointment for a consultation. Notice if it is possible for you to speak to the lawyer directly over the phone or not. If you cannot, it means one of two things: either they are good at what they do and stay busy with clients, or they would rather not be bothered by clients unless it is absolutely necessary.

Obviously, you want to work with the attorney who is busy and successful, but not too busy to work with you and give personal attention to your needs. To make sure this is the type of professional you work with, when you speak to him or her, be sure to ask pertinent questions. Such questions include the following.

* How many cases have you filed?
* How many years of experience do you have working with bankruptcy cases?
* How much are your fees?
* How often will I be updated as to the status of my case?

These are not the only questions you can ask; you should ask any questions that come to your mind to make you feel at ease with your attorney. You should choose the lawyer that makes you feel secure and comfortable, because this will ensure the willingness of both parties to work together amicably and respectfully.

With the knowledge from this article, you are now prepared to get in touch with a Sacramento bankruptcy attorney. Be sure to know what you are looking for in terms of service from your lawyer. Accept nothing less than the best; after all, you are paying for this professional relationship. Be polite, courteous, and respectful, and accept only the same in response. You can have a successful business relationship with your Sacramento bankruptcy lawyer, and you can reset your debt at the same time.

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