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ChGuide to a Fresh Start. This brochure tells you all you need to know about what happens when you file a Chapter 7 Bankruptcy Case. We would only suggest a Chapter 7 if you do not own real property (a house) or have no equity in the house over and above your allowed homestead (which in California, has limits). Also you must qualify to do a Chapter 7 so we must ask you specific questions about your family, your income and your expenses. Click on the Chapter 7 link above for the free brochureapter 7
Guide to Personal Reorganization. This brochure tells you all you need to know about personal reorganization after you file a Chapter 13 Bankruptcy Case. We would suggest a Chapter 13 if 1) you are behind in your mortgage payment; 2) you do not qualify for a Chapter 7; 3) you have substantial non-dischargeable tax liability; or 4) you have a second mortgage or HELOC that can be stripped from your home or rental property. There are debt limits that will prevent you from filing a Chapter 13. Currently you cannot have secured debt over about $1,080,000 or unsecured debt over about $362,000. These figures change so ask if you are close to the limits. If you are over the limit you would have to file an individual Chapter 11. Click on the Chapter 13 link above for a free brochure.
Guide to High End Personal or Business Reorganization. Chapter 11's are generally for businesses. However, individuals may use this procedure as well because it gives you greater flexibility and more options than a Chapter 13. In the Chapter 11 proceeding we are able reduce the principal balance on your mortgage for all rental and commercial properties. We cannot do this on your principal residence unless it is a multi family home, doubles as a commercial property, has a detached guest house or you move and rent out the property to a stranger. This is a court ordered reduction in principal amount you own on your mortgage. It can save you hundreds of thousands of dollars. We would put you in a Chapter 11 if you did not qualify for a Chapter 13 in terms of secured or unsecured debt limits, if you are a going business, if you have multiple properties or if you need time to begin to pay back the arrearage on your home mortgage. Click on the Chapter 11 link above for a free brochure.