San Francisco Bankruptcy

Bankruptcy is the legal process available to debtors where the debtor receives protection from creditors and a full or partial discharge of all debts. Consumers generally file for bankruptcy under Chapter 7 or Chapter 13. Chapter 7 bankruptcy provides a complete discharge of all debts after liquidation of assets, while Chapter 13 bankruptcy allows a debtor to set up a repayment plan for paying off their debts.

In 2005, sweeping changes were made to the bankruptcy law process. The revised law requires debtors to undergo credit counseling and pass a “means test” to determine whether they qualify for total discharge under Chapter 7. Otherwise, those debtors who do not qualify for Chapter 7 bankruptcy must file under Chapter 13.

Our office can help you with the entire process, from considering the options before filing, through discharge of debts or workout through a repayment plan.

Contact us today at 415 230 5315 to discuss your situation and make a plan to get you out from under your oppressive debt load.

San Francisco Bankruptcy Lawyers
Affordable Bankruptcy and Debt Relief
www.kevinjstewart.com

When dealing with debt collectors, there are many options to consider. In the case of people who have no assets and are considered “judgment proof,” then the best option may be to wait and see if the collector files a lawsuit, let them obtain a default judgment, and challenge them to collect anything. But this is a good approach only if you will never have wages to garnish or other assets.

If you need to fight a debt collection action in court, there are some defenses and arguments you can make, but be prepared to lose on the issue of liability. To delay the collection process and buy some time to negotiate settlement, you may only need to file an answer. Debt collectors want default judgments. Answering defendants are a pain in the neck for them.  

This firm can help you aggressively fight a debt collection action, and in some cases negotiate a favorable settlement. Contact us today for a free consultation.

San Francisco Bankruptcy Lawyers
Affordable Bankruptcy and Debt Relief
www.kevinjstewart.com

Foreclosure is a complicated process that can cause a great deal of fear, confusion, and stress for any borrower who receives a foreclosure notice from their lender. But unless your property has already been sold in a foreclosure sale, there are steps you can take to stop the process and give yourself time to make the right decisions regarding your property. Consider the following options if you are facing foreclosure:

• File Chapter 13 Bankruptcy – This is probably the most effective response to a foreclosure, because it stops the process and gives you time to restructure all of your secured and unsecured debt based on your ability to pay.
• Negotiate a Loan Modification – Although we hear more about loan modifications today than ever before, the fact is that few borrowers are able to save their property through loan modification. In most cases, borrowers only buy some time before they find themselves behind in payments again and facing the same foreclosure process all over again.
• Negotiate a Short Sale – Short sales are agreements by the lender to accept an offer for less than the total debt securing the property. It is difficult to get a lender to agree to a short sale in the first place, and then lenders usually take too much time to approve the offers (if any) submitted by the borrower.
• Surrender the Property – This is often the best choice for a distressed borrower, where the borrower surrenders title back to the lender. Also called a Deed in Lieu of Foreclosure, this relieves the borrower of their security obligation, while saving the bank the costs of the foreclosure process.  

We can help you decide which option is best for you. Call 415 230 5315 today to discuss your situation and arrange a personal consultation.

San Francisco Bankruptcy
Affordable Bankruptcy and Debt Relief
http://www.kevinjstewart.com