Riverside Bankruptcy Lawyer

If you find that you are in over your head with your finances or are facing foreclosure, a competent Riverside bankruptcy lawyer like those at the law firm of Steven P. Chang can give you the guidance and representation you need. The law firm represents individuals and businesses with debt related issues including any and all secured and unsecured debts. With a focus on consumer law, Riverside bankruptcy lawyer Steven P. Chang has helped thousands of clients in debt related issues since 2002. He has a dedicated team of professionals that he works with under his leadership to help thousands of families discharge debts successful and begin their lives anew.

The United State Bankruptcy Code allows an individual, corporation, or partnership to obtain relief from certain debts under the law so that they can get a fresh start from some of their obligations. There are different chapters of bankruptcy that can be filed and you need a reliable Riverside bankruptcy lawyer to guide you about how to file and what your obligations and your rights are. A Riverside bankruptcy lawyer can help you follow the guidelines to ensure you do everything you need to in order to get the most relief possible from your debt. Normally, you won't lose your possessions once you file bankruptcy although the liquidation aspects of Chapter 7 mean that there is a risk to losing your assets.

Your Riverside bankruptcy from the Steven P. Wang Law Offices will help you understand the different chapters in bankruptcy and what is required for each. They will also help you learn what to expect once you have filed. Chapter 7 is the liquidation bankruptcy and your assets that are non-exempted are liquidated by the appointed trustee in order to pay your creditors. Chapters 11 and 13 are known as the reorganization bankruptcy. Businesses, unlike individuals, may only file for a Chapter 11 reorganization while it is generally for individuals who have too much debt to file a Chapter 13. Chapter 13 is the debt repayment Chapter for individuals but also those who are sole proprietors can use this chapter. This is the Chapter of bankruptcy for those with regular income to fund the plans and with debt limits less than $336,900 in unsecured debts and $1,010,650.00 unsecured debts.

Securing the services of a Riverside bankruptcy lawyer will help you get garnishments stopped since creditors must obey the automatic stay imposed by a bankruptcy filing. Your Riverside bankruptcy lawyer will also explain to you how bankruptcy will affect your credit. While it will initially lower your FICO score, you can use credit wisely and make all payments on time afterwards to improve your FICO return. You will also have to take a "means test" before you can file bankruptcy to determine if you quality for a Chapter 7 or Chapter 13 bankruptcy. Only those individuals whose debt is 51% or more business debts do not have to take a means test or those filing for Chapter 9 or Chapter 12. Go to www.rsbankruptcy.com to learn more about bankruptcy and what it can mean for you.