Helping Clients With Personal Bankruptcy
At The Loftin Firm LLP, we help clients who are facing serious financial struggle achieve debt relief by filing personal bankruptcy. We assist in filing both Chapter 7 and Chapter 13 bankruptcy. We also counsel our clients on matters relating to bankruptcy law, such as exemptions, rebuilding credit and load modifications.
We work with people of all income levels in our bankruptcy law practice. Whatever their financial situation, our clients all have one goal in mind: achieve debt relief so they can get a fresh start. Contact our Carlsbad, California, office at 866.933.240 so we can help you. You can also contact us online.
When you first come to us, you may have a lot of questions. How will this affect my credit? Can I keep my home or car? Do I qualify for bankruptcy? Will I lose everything I own? How will this affect my taxes, support payments and student loans?
At The Loftin Law Firm LLP, we answer these questions and help prepare you for what to expect during the bankruptcy process. We help you understand your situation and the ramifications of your decision from a legal and personal standpoint.
Chapter 7 vs. Chapter 13 Bankruptcy
An important aspect of personal bankruptcy law is determining whether you should file Chapter 7 or Chapter 13 bankruptcy. In Chapter 7, unsecured debts are liquidated and creditors receive payments from the sale of some of assets, such as a boat or a car. In Chapter 13 bankruptcy, debts are reorganized into one lower monthly payment. Debtors work to pay off the creditors over a three to five year payment plan.
Despite the recent changes in bankruptcy law, many people can still qualify for Chapter 7 bankruptcy. To determine whether you qualify, you need to complete a means test that will determine your disposable income by deducting your debts from your average monthly income. In general, those that fall below the median income level in California qualify for Chapter 7, while those that are above it may file Chapter 13.
Small Business Bankruptcy
While we focus on personal bankruptcy, we will assist small businesses in filing Chapter 11 bankruptcy. We have a strong background in corporate counsel and we use this experience and knowledge to better serve our business clients during the debt relief process.
Contact Us
Our bankruptcy law attorneys are skilled in many areas of law including real estate and estate planning. We work with individuals from all walks of life, and we feel this enables us to connect to our clients on more personal level.
For more information, or to schedule an appointment with an experienced bankruptcy law lawyer regarding debt relief, please contact us. At The Loftin Firm LLP, we offer creative fee structures to fit the needs of our clients.
