Bankruptcy in Coachella Valley

Thank you for visiting the Coachella Valley Bankruptcy Law Offices of “insert attorney name”.

Are you facing foreclosure of your home? Do not take chances with your future and the future of your family. Our attorneys are experienced and knowledgeable in California’s Bankruptcy laws. Please take a minute and visit our “Why hire us” page to see what makes us more than just a Bankruptcy law firm. We care, we listen and we can help you in your time of need.

Coachella Valley Bankruptcy Overview

• Filing for bankruptcy provides you with a fresh start.
• Bankruptcy laws help people who can no longer pay their debts.
• Bankruptcy laws give you 2 options:
  • Liquidate your assets to pay your debts
  • Create a repayment plan to pay your debts – extended time period
• Once you file for bankruptcy, an automatic stay comes into effect
  • Creditors are prohibited from contacting you
  • Foreclosure is halted
  • Stops repossession
  • Stops lawsuits
  • Stops wage garnishments
  • Bankruptcy remains on your credit report for 10 years.

Before filing for bankruptcy, ask yourself:

• Have you recently lost your job – your steady income?
• Do you have enough money to make your mortgage payment?
• Are you facing foreclosure?
• Has an unexpected debt come into your life?
• Will a payment plan help you catch up on your mortgage, bills?

Filing for bankruptcy will:

• Stop constant harassing telephone calls
• Stop collection letters
• Stop lawsuits
• Stop foreclosure or repossession of your property
• Stop garnishment of your wages
• Stop any lien on your property
• Erase credit card debt, medical bills and judgments against you

United States Bankruptcy Court

• In Coachella Valley, bankruptcy matters are taken to the Division Bankruptcy court.
• Bankruptcy cases cannot be filed in a California State court.

California Central Bankruptcy Court: (Riverside Divisional office) Serving Coachella Valley in California, including Palm Desert, Palm Springs, Rancho Mirage, Indian Wells, Indio, La Quinta, Coachella, Cathedral City, Thousand Palms, Desert Hot Springs, Banning, Joshua Tree, and all cities within Riverside County.

3420 Twelfth Street, Riverside, CA 92501. Phone #: 951-774-1000 – Open 9:00 a.m. to 4:00 p.m.

California Bankruptcy Laws

• California has exemption laws that protection your property from being taken by your creditors:
• Home
• Car
• Pension
• Furnishings
• CDs, IRAs

Homestead

• Exemption of $75,000:
  • Family member living with 1 or more non-owner family members.
• Exemption of $150,000
  • A person 65 or older
  • A disabled person
  • A person 55 or older with a gross annual income of $15,000 or less
• Exemption of $50,000
  • All others

Wages

• 75% of all paid earnings are exempt

Automobiles

• Up to $2,300 of the equity

Miscellaneous

• 100% exempt:
  • Personal property
  • Household furnishings
  • Clothing

Other:

• Jewelry - $6,075

Bankruptcy Code for Coachella Valley

• Bankruptcy Abuse Prevention and Consumer Protection Act – 2005
• Must complete a Credit Counseling Brief before filing
  • Helps to stop future bankruptcy filings
  • Must consult with an attorney before filing – regarding other options
  • Your income compared to California’s median income is compared
  • Makes it more difficult to file for Chapter 7 (discharge debts).
  • Forced to file for Chapter 13 (repayment plan).

Conclusion

The thought of bankruptcy can be frightening to many people. The stress of limited finances and creditor harassment can cause some people to make poor choices. Don’t make further mistakes. Call the Bankruptcy Law Offices of “insert attorney name” in Coachella Valley for advice you can follow.

 

 

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