chapter 11 bankruptcy in California
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Many California individuals file for bankruptcy for one or the other reason. Heavy losses in business, substantial debts, etc. are some of the main reasons why people seek bankruptcy. However, the process is extremely pressing and daunting. You don’t know whether you may get a favorable judgment or not. You may likely repent your decision later. In such a situation, you need the help of an expert bankruptcy consultant. Such a professional can streamline the process and let you get out of the pressing scene comfortably.

Why hire a California bankruptcy consultant?

Folks filing for bankruptcy in California can do so without hiring a consultant or attorney. If the case is simple and straightforward, you may save the consultant’s fees. However, a do it yourself approach isn’t a good idea. Many DIY enthusiasts ended up paying dearly and you could be next. This is even more correct if your case involves valuable assets. If you wish to opt for chapter 13, filing for bankruptcy would cost you more than your expectations. Here’s why you would need to hire a bankruptcy consultant.

California Bankruptcy planning

An experienced California consultant will identify any potential hiccup that may arise during your case and plan accordingly. In most cases, bankruptcy may not be the best and only way to attain financial freedom. If there’s a better way, the consultant will suggest a suitable alternative that should offer you financial peace.

Chapter 13 and chapter 7 serve different goals and accomplish different purposes. For example, California chapter 7 will let you get rid of most of your debts quickly. However, it won’t help you save your home if you lag on your payments. A reliable bankruptcy consultant will assess your needs and wants and choose the best course of action to achieve your goals.

California Bankruptcy preparation

Preparing for California bankruptcy can take a toll on any person. As a common man, you may not be familiar with the legwork associated with bankruptcy preparation and filing. You need a professional to ease the whole process. A reliable consultant will apply the means test and figure out whether you can make payments in chapter 13 or qualify for chapter 7.

The valuation of assets is another major deal. Your consultant will help you disclose and value your assets realistically. Each state has a distinct exemption system for keeping the property in bankruptcy. The expert will use the exemption to preserve most of your assets. The discharge of debts also needs detailed attention.

Some California debts don’t get discharged or wiped out in bankruptcy. On the other side, others get wiped out if particular conditions are fulfilled. The bankruptcy consultant will tell you which debts will get wiped out and which will survive. Accordingly, he’ll take suitable actions for your betterment.

Help with the whole process in California

As with any legal case, bankruptcy in California involves a lot of hassles and legwork. You could be stressed out with the hassles and the legalities associated with the case. Ideally, you may want to complete the schedules and other paperwork. You’ve to file various pages of data about your income, debts, assets, expenses, and the latest financial transactions.

The California bankruptcy consultant knows what you should disclose, what constitutes income, how to value your property, which expenses are necessary and reasonable, and many other issues. Not just that, the expert will give you good insights into the procedure. He’ll tell you what actions the creditors may take and how you should take suitable steps to qualify for a discharge.

One of the most pressing tasks is providing accurate, complete testimony. If you miss out on an important point, you’ll pay dearly. You may even lose the case. A reliable bankruptcy consultant will get you through all the proceedings comfortably.

He’ll help you sign the California bankruptcy papers under the penalty of perjury stating that the information is correct to the best of your knowledge. Plus, he’ll guide you about the case thoroughly. He’ll help you affirm in the court that you’re telling the truth. The consultant will see to it that your testimony is complete, accurate, and convinces the judge.

Handles California creditors

Handling California creditors might be out of your control, especially when you’ve piled substantial debts. Threatening calls from creditors can disturb your life. The services of a bankruptcy consultant come as a boon during such times. After filing your case, the consultant will monitor creditors who may violate the automatic stay.

Most California creditors don’t know when they should quit collecting. If a particular creditor violates the automatic stay, the consultant could demand compliance or ask the judge to hold the creditor in contempt. As well as keeping creditors from you, your consultant will use this point in your favor, which will pay off during the settlement tenure.

Better negotiation

Most California creditors don’t want to negotiate with you. They don’t trust your words. In such a situation, you need a person who could negotiate on your behalf for a better repayment plan. A reputed bankruptcy consultant will communicate with your creditors and convince them to receive a smaller amount citing your financial situation. Also, he’ll ensure that all fines and interest amounts are waived.

Rebuilds credit after bankruptcy

Making a fresh start after California bankruptcy isn’t easy. Many folks get mentally disturbed due to the tedious and herculean procedure. A bankruptcy consultant will ensure that your case goes on smoothly, allowing you to make a fresh start with minimum hassles. He’ll provide valuable guidance about rebuilding credit. Plus, the consultant will give you helpful tips to capitalize on the offers you’ll receive shortly after your case closes.

Bottom line

Many California individuals get disturbed at the very thought of bankruptcy. However, unusual situations may compel you to take this extreme step. In such a situation, you need an expert that can get you through the tedious and cumbersome process. A reputed bankruptcy consultant can live up to your expectations and get you through the procedure swiftly. Just be sure you turn to a reliable consultant with a proven track record. With an experienced consultant by your side, filing for bankruptcy becomes easy and hassle-free.

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