Bankruptcy Legal Assistance
At the Law Offices of David R. Gunnin, we have been serving the residents of Chino, California in various bankruptcy and related matters for a number of years, we have more than three decades of experience in practicing bankruptcy law, and we can put this experience to work for you. We understand the difficulties associated with bankruptcy and severe debt loads, and you can be sure that we will stand by you and work with you to pursue the results that you need for your future. Our firm can help you in any of the following ways:
Asset Protection Exemption
In the state of California, there are two major exemptions that are available to residents who are filing for bankruptcy. One of these exemptions protects cash, while the other protects real estate, and there is a limit to the amount protected in each category.
Alternatives to Bankruptcy
If you are suffering from severe debt loads, then you may be looking for relief through various options. Some alternatives to bankruptcy could include options such as a short sale of your home, loan modifications, and many others.
Sadly, there are many instances where careless creditors and collection agencies do not distinguish personal debts from business debts. Therefore, you could be facing a lawsuit which names you personally for the debts of your company.
If you are a small business owner and you are facing severe creditor harassment and difficulty repaying debts, then your business may benefit from Chapter 11 bankruptcy. You will also benefit from the assistance of our firm in dealing and negotiating with creditors.
Designed to help family farmers and fisherman, Chapter 12 is similar to Chapter 13. This allows for farmers and fisherman to create a repayment plan to put their debts back in order and their lives under control once more.
Also called rearrangement bankruptcy, Chapter 13 will allow you to keep your assets, but it takes longer to complete. It involves paying your creditors back for a period of three to five years with all of your disposable income.
Also known as liquidation bankruptcy, this option will involve turning your assets over to an individual who will sell your assets and pay your creditors with the money made from these sales. Your unprotected debts will be discharged after this process is complete.
Credit Card Debt
There are many various ways to fall into debt, and credit card debt is one of the many causes for severe financial hardships. It is important that you are able to make payments on these loans, or that you are able to work out an alternative with your creditors.
Effects of Filing Bankruptcy
It is important to know that there are many different myths going around regarding the adverse effects of bankruptcy. You need to consult with a legal professional regarding the effects, rather than accept the rumors as truth.
Exploring Your Debt Relief Options
With our assistance, you can be sure that all avenues are explored and that you are pursuing the best possible choice for your circumstances in order to obtain relief from your unwanted financial circumstances.
If you have an asset which you obtained a loan for such as a car, and you are unable to make payments on it to the point that your loan falls into serious delinquency, then you could suffer from repossession of the asset to cover the debt.
IRS and State Tax Levies
If you owe the IRS or California state government taxes, then they can take action when these taxes are not repaid. A levy is a legal seizure of assets in order to cover a debt that is owed. This means that if you have not paid these debts, then they could be taken out of your bank account or from your paycheck.
IRS Information Back Taxes
Most federal and state tax debts are secured and non-dischargeable. There are some cases, however, in which we may be able to negotiate with the IRS to adjust this repayment, or to prevent a levy on your assets.
Creditors can often file lawsuits against you in order to secure payments of debts. If you are facing a lawsuit for a debt that you currently owe, or a lawsuit for a debt that was discharged, then speak with our firm immediately!
Life After Bankruptcy
It is important for you to understand that life after bankruptcy may not be nearly as bad as you think it is. Due to many various rumors that circulate regarding your credit, there are individuals who wait far too long to file for bankruptcy.
Due to the fact that your creditors want to receive payment, there are many cases where they are very willing to negotiate the monthly payment that you make so that you can make these payments more consistently, and they can feel more confident in receiving regular payments.
As an individual, there are many situations where you may be suffering from financial hardship. Bankruptcy is one option which may greatly help you to achieve the financial relief that you need for your future.
Rebuilding Your Credit
There are various tips that you can follow which may greatly assist in rebuilding your credit for your future. For example, obtaining a low limit credit card and making payments on time will slowly increase your credit score.
If you are facing foreclosure of your home, then a short sale may be a favorable alternative to losing your home. While you may not receive the full value of your home, you will be able to prevent the foreclosure from being completed and showing up on your credit history.
Stop Creditor Harassment
According to the fair debt collection practices act, you have the right to harassment-free collection practices. This means that collection agencies and creditors must abide by strict rules as to when and how they may contact you, as well as what they may do with your information, and other issues.
If you are unable to pay your debts, then there are certain instances where your creditors may garnish your wages through a court order to your employer. Not only is this embarrassing, but it can cause a serious issue with your finances.
If you are suffering from severe debt loads, then you need debt relief. Our firm knows the various options that may be available to you, and we can work with you to determine your options and to pursue the results you need.
If you have a mortgage payment that you are having difficulty making, then you could end up facing foreclosure of your home. It is important to understand what options that you may have in this situation and that you pursue legal assistance.
Let Our Three Decades of Experience Work for You
Your situation is important to us, and you can be sure that we will stand by you from start to finish of your case if you choose to work with us. We have helped hundreds of clients build better futures in the past, and we know how to help you in your situation. Whether bankruptcy or an alternative is the best solution, we will be sure to keep you involved in the process as much as possible. We offer a free consultation so that you may obtain some information before making any commitment to us. Contact our firm today to discuss your situation and to learn more about how we can help you.