San Jose Bankruptcy Lawyer Blog

A San Jose bankruptcy attorney explains how business owners can save their company by reorganizing.

By using business reorganization a business owner can salvage their company when facing financial hard times. A business owner tends to have more control when going through a reorganization and business formation; this is unlike a Chapter 11 Bankruptcy where a trustee is appointed to be in charge of each and every decision. When a company decides to reorganize they must cut costs while not sacrificing the value of their products and services or the reliability of the business. During reorganization and business formation a plan of action must be set into place to ensure the business does not completely become destroyed.

The planning phase that occurs during business reorganization is usually very intense. This is the phase in which an existing business plan has substantial changes made in order to ensure the business will survive. The next part is to set up a financial plan that will get the business through at least the next 3 months. A very crucial part of business reorganization and formation is to rid of any non productive employees, making sure that everyone is held accountable. Most importantly, it is always important to remember how and why a business initially went wrong.

If you would like more information on this topic or other bankruptcy topics, please contact our San Jose office at 408.279.2288 or 1800.941.6730. We at Sagaria Law can connect you with one our our experienced San Jose bankruptcy attorneys. We have bankruptcy attorneys located throughout California and Oregon to assist you with your bankruptcy questions. If you need assistance regarding a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! Please contact us to receive a free consultation or visit our website at www.sagarialaw.com to request an in-person consultation with an experienced bankruptcy attorney. We have an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting San Jose.

A San Jose bankruptcy attorney gives a brief overview of Chapter 13 bankruptcies.

In the event a person finds themselves deep in debt, there is still relief available to them, such as filing a Chapter 13. There are specific processes and guidelines a person must follow, when filing Chapter 13 bankruptcy. First, a person's eligibility needs to be determined. In Chapter 13, a person is allowed to keep their property, and are put on a payment plan to pay back their debts. This is also referred to as reorganization bankruptcy. In order to file Chapter 13 bankruptcy, a person must show proof of their income and ability to repay their debts. If it is determined that a person would be unable to follow a structured repayment plan, their eligibility would then be denied. If a person's secured debt is over $1,010,650, or their unsecured debt is over $336,900, they will also be denied.

Once eligibility is determined, their are several forms that must be filed. The current filing fee is $274. The court will then assign a bankruptcy trustee to the case. The trustee's job is to setup a reasonable repayment plan, and ensure compliance. Once all payments have been made, any leftover debts that are eligible for discharge, will be wiped out.

Please do not hesitate to contact us at our San Jose office by calling 408.279.2288 or 1800.941.6730 for your debt resolution needs. You can receive a free consultation over the phone, or request a free in person appointment at a Sagaria Law office nearest you. Please visit our website at www.sagarialaw.com and fill out a free online evaluation form to determine if you are a qualified candidate for bankruptcy. Sagaria Law's team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff at San Jose can assist you with all aspects of your bankruptcy case. We at Sagaria Law can assist you regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. and we are happy to help! Our bankruptcy attorneys located throughout California and Oregon can assist you with your bankruptcy questions.

A San Jose bankruptcy attorney answers a visitor submitted comment: Who Files Chapter 9 Bankruptcies?

Chapter 9 bankruptcy can only be filed by municipalities that are in trouble and cannot pay their debt load. When a municipality files chapter 9, it allows them a chance to restructure their debts and find better repayment options while getting back on their feet. There are several causes that can force a municipality into bankruptcy:

• Budgeting got out of control
• A horrible tragedy or natural disaster accrued
• A severe recession or depression

The municipality's attorney files chapter 9 bankruptcy protection with the state as a last resort for protection of debt collection from creditors. The municipality is then allowed to come up with a place for repayment. This plan reduces the debt load by one or all of these methods:

• Reducing the debt load
• Reducing the interest rates
• Extend the terms of the loan
• Or refinance the amount owed

Creditors are not allowed to submit a plan, only the municipality, for a judge to sign off on. Filing for chapter 9 is used as a last resort and to help a municipality come back from trouble with minimal disturbance to its citizens.

We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in San Jose, call us at 408.279.2288 or 1800.941.6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.

A San Jose bankruptcy attorney explains how you may resume doing business even after filing a Chapter 11 bankruptcy.

Most businesses do not declare bankruptcy in the way that we probably think. They do not have to declare an end to business operations when they declare bankruptcy. Rather, most of them use chapter 11 bankruptcy in order to help themselves to be able to reorganize until they are able to pay off their debts.

Generally speaking business after ch. 11 remains much the same as it was before bankruptcy is declared. The only thing that might change is that the public might have the impression that the company is no longer stable. This is simply because much of the public does not understand the difference between chapter 11 bankruptcy and other forms of bankruptcy.

Business after chapter 11 is something that you are going to have to keep a close eye on. You want to make sure that your operations continue to run smoothly after you have declared bankruptcy. There is no reason why they shouldn't so long as you have maintained the principles that you had before bankruptcy. It may have just been a case of your business growing too quickly and running into debt issues because of it. Bankruptcy does not always mean that there is something wrong with the structure of the business. It is important to remember that.

At Sagaria Law, we offer an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting San Jose. If you need help regarding bankruptcy in San Jose, contact us at 408.279.2288 or 1800.941.6730 for a free consultation or visit us online at www.sagarialaw.com to request a free in person appointment at a Sagaria Law office location nearest you. We can answer your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation to quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose!

A San Jose bankruptcy attorney advises on bankruptcy exit plans.

Bankruptcy is a complex legal process that few who are not in the legal field really understand. This is why many people get a lawyer in order to file their bankruptcy. However, many wonder if they also need a lawyer in order to make an exit from bankruptcy.

The answer to this question is that while it is not totally a requirement for you to get a lawyer in order to exit from bankruptcy, it is highly recommended. Just like entering your bankruptcy was a complex legal process, so is coming out of it. You need someone who will be able to help you to get your credit issues straightened out as well as other parts of your financial life.

If you are able to get a lawyer who can help you through this process, then you will end up in much better shape than you would otherwise. After all the work you just put in to get out of bankruptcy you don't want to throw it all away by not getting an attorney to help you out on this final part. Look into all of the options that are available to you today and see which one you feel like you can afford.

Please do not hesitate to contact us at one of our California offices by calling 1800.941.6730 for your debt resolution needs. You can receive a free consultation over the phone, or request a free in person appointment at a Sagaria Law office nearest you. Please visit our website at www.sagarialaw.com and fill out a free online evaluation form to determine if you are a qualified candidate for bankruptcy. Sagaria Law's team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff can assist you with all aspects of your bankruptcy case. We at Sagaria Law can assist you regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. and we are happy to help! Our bankruptcy attorneys located throughout California and Oregon can assist you with your bankruptcy questions.

A San Jose bankruptcy attorney provides a walk through of the process of filing for a Chapter 13 bankruptcy.

Chapter 13 bankruptcy is called a reorganization. You have income but not enough to pay your bills. You make to much money to qualify for chapter 7 bankruptcy, so you qualify for chapter 13. You should consult with an attorney. One that has experience in this type of bankruptcy. Then, get as much chapter 13 information as you can from the free consultation. In fact, have 3 or 4 consultations with different attorneys.

Your attorney will submit all required documents and information to the court. You are now under court protection from collectors and lenders. They cannot take any action against you and they cannot call you, your attorney is the contact person for your case now.

In a few months you will go in front of the trustee for the question and answer session. The trustee will review your file and check for all the requirements for chapter 13. Once completed your case goes to the judge, he will do another review of your files. This should be about a month after your meeting with the trustee. When the judge approves your case, that's it.

The assets you're allowed to keep will be outside the bankruptcy. This means you make the normal payments, all other debt you included in the bankruptcy will be consolidated and the court will tell you what your new monthly payment will be for these debts. This program lasts 5 years, once completed all outstanding debt is discharged.

We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in California, call us at 1800.941.6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.

A San Jose bankruptcy attorney defines the process of a false bankruptcy.

False bankruptcy is the process of filing a bankruptcy claim by means of using someone else identify. The thief steals another persons' name, social security number, and other pertinent information. Oftentimes, people can afford to pay their debts, but they would rather file a false claim in hopes of avoiding their obligations. Unfortunately, this is true of so many people. False bankruptcy claims have been the down fall of so many innocent people.

Many victims find out they are a victim of such a crime, usually by accident. For instance, if a credit card no longer works, or have been suspended or blocked (unexpectedly), usually sends out a warning signal that something is wrong. People who file false bankruptcy claims using another persons identify usually have destroyed their own credit, and are desperate. It's a good ideal to shred, or destroy any personal records that are no longer in use.

There are laws that protect individuals from such offenses. One way to protect yourself is to periodically request a copy of all three credit reports. The law allows each person to receive their credit report annually, from all three credit bureaus without paying a fee. This is one way to fight back.

At Sagaria Law, we offer an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting California. If you need help regarding bankruptcy in California, contact us at 1800.941.6730 for a free consultation or visit us online at www.sagarialaw.com to request a free in person appointment at a Sagaria Law office location nearest you. We can answer your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation to quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, California!

A San Jose bankruptcy attorney explains why you may need a debt creditor law firm.

For people who fall under hard times and deal with mounting debts, finding a debt creditor law firm to help them through the process of filing a bankruptcy, or resolving a debt with a creditor may be the best way to go. This is especially true for those who have over ten thousand dollars worth of debt. There are certain things a debt creditor lawyer will be able to do that can make the process for the debtor less stressful.

Having a debt creditor law firm on your side can cause many things to happen. The first thing, is that the lawyers can file an automatic stay which will cause the creditors to stop their attempts to collect the debt. They will then help the debtor settle with the creditors or help complete a reorganization of assets depending on how much debt the person has, and what chapter bankruptcy they wish to file. The end result will be an organized procedure that benefits the debtor. Having a debt creditor lawyer will also ensure that the debtor is protected legally and has taken all the proper precautions and followed the right procedures for filing a bankruptcy or settling a debt.

If you have a question regarding Bankruptcy in California please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy .

A San Jose bankruptcy attorney explains a Plan of Reorganization.

Firstly, there are three generally known bankruptcy tactics used to clear debts and/or reorganize. A Chapter 7, Chapter 11, and Chapter 13 are most common. A debtor's plan of reorganization is usually via a Chapter 11 bankruptcy filing. In the legal parlance, it means a business or corporate reorganization in which assets are stipulated and disbursed after being approved by the court and the business creditors.

A debtor's plan of reorganization is subject to court guidelines. However, in some cases, depending on the reorganization plan, the current owners may be able to retain control of the business. Other times, depending on the strength of the creditors, the creditors may have enough leverage and power to become the new owners of the business and company. The only downside on this debtor's plan of reorganization is that they were merely investors, and may not have management or marketing experience to make the business successful which could lead, in time, to having this Chapter 11 reorganization repeat itself.

Keep in mind that a creditor could be a bank, but is more often one person or a group of private party investors, and the debt could be secured or unsecured with no collateral.

If you would like more information on this topic or other bankruptcy topics, please contact one of our California offices at 1800.941.6730. We at Sagaria Law can connect you with one our our experienced California bankruptcy attorneys. We have bankruptcy attorneys located throughout California and Oregon to assist you with your bankruptcy questions. If you need assistance regarding a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! Please contact us to receive a free consultation or visit our website at www.sagarialaw.com to request an in-person consultation with an experienced bankruptcy attorney. We have an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting California.

A San Jose bankruptcy attorney provides five simple tips to avoid foreclosure.

To avoid foreclosure and scammers, follow these guidelines:

1. Never pay upfront. Avoid any consultant that charges a fee up front before providing services.

2. Do not send your mortgage payment to a new address. If your mortgage company is taken on by a larger financial institution, it may change addresses. However, the address for your mortgage payment will rarely ever change.

3. Do not ignore the problem. Be sure to work with your mortgage company and keep up with mailings. They have assistance programs designed to avoid foreclosure procedures.

4. Know your mortgage rights. Read your paperwork and know what the lender may do if you do not make your payments on time. Learn about time frames and laws in your state, as each state may have different laws.

5. Contact a Housing and Urban Development (HUD) approved counselor. The U.S. Department of HUD provides low cost or free housing counseling nationwide. They can assist you with getting your funds under control, represent you when dealing with your lender, and help you understand laws.

Please do not hesitate to contact us at our San Jose office by calling 408.279.2288 or 1800.941.6730 for your debt resolution needs. You can receive a free consultation over the phone, or request a free in person appointment at a Sagaria Law office nearest you. Please visit our website at www.sagarialaw.com and fill out a free online evaluation form to determine if you are a qualified candidate for bankruptcy. Sagaria Law's team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff at San Jose can assist you with all aspects of your bankruptcy case. We at Sagaria Law can assist you regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. and we are happy to help! Our bankruptcy attorneys located throughout California and Oregon can assist you with your bankruptcy questions.

A San Jose bankruptcy attorney defines bankruptcy.

Bankruptcy litigation is a legal process people go through in order to obtain debt relief from a bankruptcy court. Filing bankruptcy is often done when a person has exhausted all other means of repaying their debts. The primary purpose of bankruptcy is to help a person relieve all of their debts so that they can have a fresh start.

Commonly, we think of individuals filing for bankruptcy. However, businesses can also file for bankruptcy. All bankruptcy litigation is handled by the federal courts rather than state level courts. Bankruptcy can occur in two ways: either voluntary or involuntary. If a bankruptcy case is filed voluntarily, then it is often done by the debtor. If the bankruptcy case is involuntary, filing is often forced by a creditor.

There are three main bankruptcy litigation types: these are known as Chapter 7, Chapter 11 and Chapter 13. Chapter 7 and Chapter 13 are used for individuals, while Chapter 11 is meant for businesses. During Chapter 7, a process referred to as liquidation takes place. All of the debtor's assets are sold, and the money gained is distributed to creditors and all remaining debt is canceled. Chapter 13 bankruptcy requires the debtor to agree to a three to five year debt repayment plan and creditors must reduce or eliminate all interest charges. This allows the debtor to keep his home and assets.

We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in San Jose, call us at 408.279.2288 or 1800.941.6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.

A San Jose bankruptcy attorney advises you to create a checklist before your 341 meeting.

The 341 meeting is sometimes also referred to as the "creditors meeting". As one of the last steps in your bankruptcy proceeding, you want to make sure that you come to the 341 meeting prepared.

The 341 meeting allows the Trustee to verify information and ask you questions directly. Your attorney will be able to help you answer any questions; however, the questions are usually straightforward and easy to answer. The most important thing to remember is to be honest in your court statements.

You will need to provide proof of your identity and social security to the court in two forms. The first could be any of the following: State driver's license, state-issued ID, military ID, student ID, U.S. passport, or resident card. To provide proof of your social security number, any of the following will suffice: social security card, pay stub, a W-2 form, a 1099 form or a medical insurance card that displays your name and has your social security number on it.

You should refrain from bringing small children to the proceeding if at all possible. Also, do not bring any electronic recording devices or cameras, and remember to turn off your cell phones and pagers.

At Sagaria Law, we offer an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting San Jose. If you need help regarding bankruptcy in San Jose, contact us at 408.279.2288 or 1800.941.6730 for a free consultation or visit us online at www.sagarialaw.com to request a free in person appointment at a Sagaria Law office location nearest you. We can answer your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation to quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose!