Federal law in Chapters 7, 11, and 13 of the Bankruptcy Code (Title 11), details the type of bankruptcy relief available in the United States. Today's blog, the second in a series, addresses some questions that you should ask if you are unsure which type of bankruptcy is best for you. Chapter 7 of the Bankruptcy Code regulates the procedure for liquidation under federal bankruptcy law. In contrast to chapter 7, chapters 11 and 13 govern...
Federal law, specifically chapters 7, 11, and 13 of Title 11, detail the most common types of bankruptcy relief. Today's blog, the first of a series, addresses some questions that you should ask if you are unsure which type of bankruptcy is best for you. Chapter 7 of the Bankruptcy Code regulates the procedure for liquidation under federal bankruptcy law. Chapter 13 of the Bankruptcy Code provides for the adjustment of debts of an individual with...
When life's problems cause you to get behind on mortgage payments with the resulting consequence that you face the possibility of the foreclosure of your family's home, bankruptcy may help save it. After all, your home is the most important, vital asset that you own. How will bankruptcy help save your home? A bankruptcy case filed under Chapter 13 may prevent the foreclosure of a personal residence or another parcel of real property. You can't afford...
Many of life's unexpected events such as the loss of a job, tragic accident, sudden illness, or death of a spouse may cause unforeseen, negative changes, especially in an individual's pool of assets and income. Such events may have the effect of eliminating adequate funds to make monthly payments on home loans, credit cards, utility bills, and other financial obligations. When such events cause serious financial difficulties, bankruptcy may help. Everyone has debt. Hopefully, it is...
Alberto Montefalcon and the Montefalcon Law Offices serve all residents of the Sacramento area. We proudly serve individuals who need to file bankruptcy to solve their financial problems. Whether married or single, if you need to solve your problems related to financial difficulties, we may help. Please call our office today. Consumers should never allow the stigma of bankruptcy to prevent them from taking complete advantage of the benefits of bankruptcy provided by federal law. Many...
A chapter 13 discharge is distinct from a chapter 7 discharge. A chapter 13 discharge releases a chapter 13 debtor from the legal obligation to repay all debts provided for by the plan or disallowed, with some exception. Some debtors may fail to complete their chapter 13 plan and consequently, never receive a discharge. However, after chapter 13 plan confirmation, despite a failure to meet all of the plan's requirements, a debtor may still receive...
Bankruptcy debtors with questions related to the meaning of a discharge in a bankruptcy case should consult with experienced and knowledgeable bankruptcy counsel. A chapter 13 discharge, which is distinct from a chapter 7 discharge, releases a chapter 13 debtor from the legal obligation to repay all debts provided for by the plan or disallowed, with some exception. As a result of the issuance of a chapter 13 discharge order, creditors provided for in the...
An experienced bankruptcy attorney like Alberto Montefalcon has the expertise and experience to assist all chapter 13 debtors who must reorganize and file a chapter 13 repayment plan. Additionally, a chapter 13 plan must be able to withstand any objection by creditors and be confirmed by the United States Bankruptcy Court. Filing a bankruptcy case and seeing it through to discharge may be complicated and requires the assistance of an attorney who will be actively...
An experienced and knowledgeable bankruptcy attorney such as Alberto Montefalcon may assist anyone whose financial situation necessitates the filing of a bankruptcy case. Prospective bankruptcy debtors need someone to provide them with information about their rights, including whether to file a bankruptcy case. Individuals who operate their own businesses as sole proprietors must file individual bankruptcy cases and may not file a case in the name of the business. Also, of significance is the fact that...
Do you have problems making bill payments? Are these payments regularly delinquent? Is this monthly routine causing financial hardship and even other non-financial problems? Is this stress negatively affecting quality of life? Is bankruptcy a viable option and solution? Have you considered it? If so, where do you turn? An experienced bankruptcy attorney like Alberto Montefalcon has the expertise and experience to protect all individual consumers with the assertion of their legal rights related to the...