If you’re overwhelmed by debt, at risk of losing your home or car, or you can’t afford your monthly credit card or personal loan payments, bankruptcy may be the solution to help you get a fresh start.

Filing for bankruptcy is a big decision, so it’s important to talk with a bankruptcy specialist. You need an attorney who understands bankruptcy law and how it pertains to the court that your case is filed in.

Attorney Kevin Simon has 25 years of experience helping people in Camarillo and the surrounding community navigate the bankruptcy process. He has helped more than 8,000 people successfully get relief from burdensome debt through bankruptcy.

During your free consultation, we will help you determine whether bankruptcy is the right choice for you, answer all your questions, and walk you through your debt-relief options.

What Is Bankruptcy?

Bankruptcy is a legal process that empowers you to eliminate much of your debt, stop harassment by creditors, and get your finances back on track.

Bankruptcy is a federal process that overrides state law. This means you may be able to put an end to state court filed lawsuits.

There are two major categories of bankruptcy: liquidation and reorganization. Most individuals and married couples file either Chapter 7 (fresh start) or Chapter 13 bankruptcy (reorganization).

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is for individuals and married couples who are having trouble paying their bills or making monthly payments.

There’s no repayment plan with Chapter 7 bankruptcy, and it can eliminate many types of debt, including credit card bills, medical bills, personal loans, and old taxes.

Once you file a Chapter 7 bankruptcy case, creditors are prohibited from trying to collect payment from you. Your wages can’t be garnished, and creditors can’t levy your bank account. Chapter 7 also puts a stop to lawsuits.

When you file bankruptcy, a trustee will be assigned to your case. The trustee’s primary duty is to ensure your creditors are paid as much as possible of what you owe them, so you need an experienced attorney on your side to ensure your assets and interests are protected.

Our Camarillo bankruptcy attorney has good relationships with the local trustees. We will ensure your assets are protected in a Chapter 7 case.

Once your debt is discharged under a Chapter 7, you can get a fresh start and rebuild your financial profile. Within 2 years of discharge, your credit should be 700..

Advantages of Chapter 7 Bankruptcy

It’s quick. Many people prefer Chapter 7 because it’s a fast path through bankruptcy. A typical Chapter 7 case takes 3-4 months to complete.

There’s no repayment plan. Unlike Chapter 13 bankruptcy, filers don’t have to repay debts under a Chapter 7 filing.

Many debts get wiped out. Chapter 7 will help you eliminate many types of debt, including credit card bills, medical bills, personal loans, and old taxes.

You can keep your house. You can protect over $626,400 in equity in your property, but an experienced bankruptcy attorney must do the property analysis.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows you to keep your property and repay your debts over a period of 3-5 years. It’s called the “home saver bankruptcy” because it stops the foreclosure process and allows you time to catch-up on delinquent mortgage payments so you can keep your home.

Chapter 13 also stops wage garnishments, bank levies, and lawsuits, and it allows you to pay back taxes without accruing penalties. In short, it gives you breathing room to catch up on past due payments and get creditors off your back.

The Chapter 13 repayment plan includes unsecured debt like credit card bills, personal loans, and medical bills.

But the repayment plan is structured so that most of your monthly income goes toward your most important bills, like overdue mortgage and car payments. As a result, many Chapter 13 filers end up paying nothing at all or pennies on the dollar for their unsecured debts.

In general, Chapter 13 is best suited for people who do not qualify for Chapter 7 or Chapter 7 is not the right legal solution to your situation. It may also be an option if you’ve filed a Chapter 7 bankruptcy in the last 8 years.

After you have completed your repayment plan, your remaining debts will be discharged, and you will have a fresh start.

The debt limit was recently increased to $2.75 million for individuals filing for Chapter 13 bankruptcy. Additionally, both secured and unsecured debt now count toward the single limit. These changes make Chapter 13 accessible to more people.

Our skilled Camarillo bankruptcy attorney will help you determine whether Chapter 13 is right for your situation. We have good relationships with local trustees and will guide you through the entire process.

Advantages of Chapter 13 Bankruptcy

It gives you time to catch up. A Chapter 13 repayment plan gives you more time to make your payments. You may be able to reduce the amount of your payments or stretch out the terms of your payments.

You can save your home. Chapter 13 will stop foreclosure on your home, regardless of how far behind you are on your mortgage payments and even if a foreclosure complaint has already been filed.

You can keep valuable property. Chapter 13 allows you to keep valuable possessions, including your home and car. There are also exemptions in California that allow you to keep heirlooms, jewelry, and works of art.

You may pay little to nothing for unsecured debts. Depending on your financial situation, you may end up paying pennies on the dollar for credit card debt, medical bills, personal loans, and other types of unsecured debt.

What Bankruptcy is Best For You and Your Family?

It’s important to speak with an experienced Camarillo bankruptcy attorney to understand what bankruptcy can and cannot do. Our attorney can help you decide if filing is the best option for your situation.

Why You Need a Bankruptcy Expert

Bankruptcy laws are complex. It’s not enough to have someone with the word “attorney” behind their name. This is no guarantee of experience or skill.

An inexperienced lawyer may not properly protect your assets during bankruptcy proceedings. Worse, if they fail to disclose the proper information on your bankruptcy forms, your case could be dismissed.

You need someone who specializes in bankruptcy law in California. Here’s how to protect yourself when choosing an attorney:

• Make sure any attorney you are considering has experience in Chapter 7 and 13 bankruptcy. Ask to see court dockets or cases they have filed.
• Meet with the attorney for at least one hour before deciding to retain them.
• If the attorney refuses to meet with you or only spends a few minutes with you, move on; this is a red flag for future problems.
• Ask family, friends, or other trusted professionals for a referral.
• Check the California State Bar website to see if the attorney has been disciplined or sued.
• Read online testimonials and reviews of the attorney.
• If you decide to retain the attorney, get a plan of action in writing.
• Never sign anything you don’t understand. Ask for clarification.
• Walk away if you feel uncomfortable for any reason. You have a right to an attorney you feel is honest and forthright.

Why Choose the Law Offices of Kevin Simon?

Most of our clients come from referrals from family, friends, and other professionals. We think that says a lot about the quality of our work and dedication to our clients.

Our team treats clients with dignity, respect and honesty, and strives to provide low-cost bankruptcy services, because we know you’re already struggling financially.

Kevin Simon has more than 25 years of experience helping clients navigate the complex and often stressful process of filing for bankruptcy. We have legal skills, resources, and experience to get you the best outcome.

Call, text, or contact us online to schedule a free consultation. Our law firm serves clients in Camarillo, Oxnard, Ventura, as well as the Conejo Valley and the San Fernando Valley.

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