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Hire Affordable Bankruptcy Attorneys In Riverside And Sacramento In California For Peace Of Mind

The US Bankruptcy Code governs all bankruptcy filings in the country. A federal bankruptcy judge oversees the court, and makes important decisions regarding whether the bankruptcy is allowed under the most common Chapter 7 or Chapter 13, or other chapters, which debts can be eliminated, which can be restructured. These chapter names refer to sections of the US Bankruptcy Code, and the necessity to file for bankruptcy under one chapter or another will determine whether you will be put on a debt repayment plan, or the debts are settled by liquidating the property you own. If you are confused and find yourself at the crossroads to decide whether filing for bankruptcy would be the right option for you, and if so, which one, you can hire a bankruptcy attorney Riverside in California, who can provide you with the right options for affordable bankruptcy Sacramento in California, and other areas of the state.  


Your assets can be exempted under Chapter 7 bankruptcy 

Under Chapter 7 bankruptcy, also known as liquidation bankruptcy, individuals falling below certain income levels can be rid of unsecured debts, such as unpaid credit cards and medical bills. Qualifying debts are completely discharged, and most people can retain all their assets. Some assets are exempt from liquidation, the list of exempt assets varies by state but typically includes personal clothing, household furnishings, and up to a particular value, an automobile. Once you hire bankruptcy attorney Riverside, you may be asked to pass a Means Test, wherein your household income must be less than the median income of the state of California. You must complete a credit counseling course from an approved provider as part of the process. While most of your debts are discharged, you may volunteer to pay off one or more debts, under a process called reaffirmation.   

Chapter 13 bankruptcy can stop foreclosure proceedings   

Chapter 13 bankruptcy, also called a wage earner’s plan, is generally for individuals with a regular income or job. This affordable bankruptcy Sacramento option allows you to keep valuable assets, like a home, and develop a plan to pay the debt over time. It also provides a discharge of certain types of debt, including those from divorce and some tax obligations. This affordable bankruptcy Sacramento offers you a number of advantages over liquidation under Chapter 7. By filing for affordable bankruptcy Sacramento under Chapter 13, the fliers can stop foreclosure proceedings, and may cure delinquent mortgage payments over time. It also has a special provision that protects third parties who are liable to the debtor on consumer debts. This provision may also protect co-signers. 

Experienced bankruptcy attorneys to your help   

Recovery Law Group has highly experienced bankruptcy attorneys who can help you with all aspects related to your bankruptcy. You can hire bankruptcy attorney Riverside who has an exceptional track record to help those facing bankruptcy get debt-free. The trusted law firm offers affordable bankruptcy Sacramento option to help you overcome financial difficulties during difficult times. With a trusted legal partner by your side, Recovery Law Group will ensure that you not only get justice and protection for creditors’ collection actions, but also complete peace of mind.   

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