Bankruptcy is a federal court action in which consumers and businesses can eliminate or reorganize their debt under the protection of the court. Many Americans have turned to bankruptcy to get our from under mounting credit card debt that was acquired due to job loss or business failure. Others have been overwhelmed with medical debt, or the fallout from a divorce.
Often times people take on even more debt hoping to wade through difficult times, but never find the light at the end of the tunnel. If you have stopped answering your phone or opening your mail due to the ceaseless calls and letters from creditors - perhaps bankruptcy is he answer. Bankruptcy can stop wage garnishments and bank account levies. Bankruptcy can stop, at least temporarily, the home foreclosure process.
Bankruptcy can be a financial planning tool to alleviate the stifling burden of insurmountable debt. Bankruptcy can give you a fresh start and a path back to productivity. If you are looking for caring, individualized representation in your bankruptcy, call the Law Offices of Marjorie S, Archer for a free consultation.
Often times people take on even more debt hoping to wade through difficult times, but never find the light at the end of the tunnel. If you have stopped answering your phone or opening your mail due to the ceaseless calls and letters from creditors - perhaps bankruptcy is he answer. Bankruptcy can stop wage garnishments and bank account levies. Bankruptcy can stop, at least temporarily, the home foreclosure process.
Bankruptcy can be a financial planning tool to alleviate the stifling burden of insurmountable debt. Bankruptcy can give you a fresh start and a path back to productivity. If you are looking for caring, individualized representation in your bankruptcy, call the Law Offices of Marjorie S, Archer for a free consultation.
Services
Marjorie S. Archer, Attorney at Law has been providing legal services in the San Gabriel Valley, Pomona Valley, the Inland Empire California and surrounding communities for more than 30 years.
A native of Southern California, Marjorie attended school, became involved in her local community, started her legal career and raised a family here in the South Land.
As an attorney at law Marjorie began catering to the legal needs of families and individuals in her community providing family law services, performing probates, as well as doing wills, trusts and bankruptcy where she continues to do so today from her law offices in San Dimas.
A native of Southern California, Marjorie attended school, became involved in her local community, started her legal career and raised a family here in the South Land.
As an attorney at law Marjorie began catering to the legal needs of families and individuals in her community providing family law services, performing probates, as well as doing wills, trusts and bankruptcy where she continues to do so today from her law offices in San Dimas.
Chapter 7 Bankruptcy, often referred to as liquidation or fresh start bankruptcy, can provide a new financial beginning for those who find themselves overwhelmed by debt with no realistic expectation of ever being able to pay their creditors.
Creditors, especially credit card companies, have become increasingly aggressive in their efforts to collect on overdue balances.
Whatever the reason for the financial hardship: job loss, unexpected medical expenses, divorce, business failure, or just an accumulation of poor financial decisions.
Creditors, especially credit card companies, have become increasingly aggressive in their efforts to collect on overdue balances.
Whatever the reason for the financial hardship: job loss, unexpected medical expenses, divorce, business failure, or just an accumulation of poor financial decisions.
Chapter 13 bankruptcy may be your best option if you are facing foreclosure or vehicle repossession.
This may also be a solution for unsecured and secured debt of sole proprietorships that meet the criteria set by the Bankruptcy Code.
This option is currently limited to cases where unsecured debts are less than $360,475 and secured debts are less than $1,081,400, adjusted periodically to reflect changes in the consumer price index.
Because all of the debts and assets of a sole proprietorship are owned by that one person, they are considered debts and assets of the individual owner and thus possibly eligible for Chapter 13 filing.
This may also be a solution for unsecured and secured debt of sole proprietorships that meet the criteria set by the Bankruptcy Code.
This option is currently limited to cases where unsecured debts are less than $360,475 and secured debts are less than $1,081,400, adjusted periodically to reflect changes in the consumer price index.
Because all of the debts and assets of a sole proprietorship are owned by that one person, they are considered debts and assets of the individual owner and thus possibly eligible for Chapter 13 filing.
Over the last 4 or 5 years I have seen an increase in bankruptcy consultations and filings for folks over 60.
The age of the debtor is not listed on the bankruptcy petition so there are no real statistics on this subject - but it seems to be a growing trend.
Seniors contemplate bankruptcy primarily to deal with out of control credit card debt.
Because the income has been reduced due to loss of a job, reduction on investment values or medical problems - people will turn to their credit cards to make up the difference.
The age of the debtor is not listed on the bankruptcy petition so there are no real statistics on this subject - but it seems to be a growing trend.
Seniors contemplate bankruptcy primarily to deal with out of control credit card debt.
Because the income has been reduced due to loss of a job, reduction on investment values or medical problems - people will turn to their credit cards to make up the difference.
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