Newbury Park Bankruptcy Attorney

At any moment, your life can be upended because of a medical emergency, divorce, job loss, or inflation. This can have such an impact on your finances to the point where you may be struggling with debt and you feel like you have no control anymore. If you are being harassed by creditors, being sued, or are at risk of losing your home or your car, it may be the time to look into bankruptcy options.

You’re not alone; most households in the U.S. are in some kind of debt. If you need help getting a fresh start and having some peace of mind, bankruptcy may be the right solution for you.

You need a knowledgeable Newbury Park bankruptcy attorney to provide you with expert legal advice if you are considering filing bankruptcy. You will have greater peace of mind when you consult an experienced bankruptcy attorney who understands the financial, psychological and emotional cost that debt has on individuals, and who can help you make the best decision based upon your particular situation. Filing for bankruptcy is an important decision that is best discussed with an experienced attorney, so that you have as much insight as possible.

Our bankruptcy law firm has represented clients throughout Los Angeles and Ventura County for over 25 years. We have helped over 8,000 people file for bankruptcy and gain their financial freedom. Our reputable bankruptcy attorney has the skills and experience to provide the best legal advice to help you receive the best outcome and get a fresh start.
Contact us today for a free consultation, and Attorney Simon can walk you through your choices to help you decide if bankruptcy or if another plan for debt-reduction is best for your situation. We will discuss your options for financial relief in detail, and our team will be sure to answer all your questions completely.

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What Is Bankruptcy?

Most individuals or married couples file either a Chapter 7 or a Chapter 13 bankruptcy.

Bankruptcy is a legal process that can help you get your finances back on track by eliminating much of your debt. A bankruptcy can also provide you with a payment plan to catch up mortgage, tax, or car payments if you are behind and want to keep your car or home.

Bankruptcy is mandated under federal law; this means it prevails over state law. Because of this, it can stop state court legal actions like lawsuits for unpaid credit card debt or lawsuits for back rent. Bankruptcy will also put an end to garnishments and bank levies.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy only takes about 90 days from start to finish, and is the fastest way to eliminate debt. This is a good option for individuals or couples who are not able to afford their monthly expenses and have fallen behind on payments. Levies by creditors, garnishments, repossessions and harassing calls and lawsuits are all halted once a Chapter 7 bankruptcy is filed. You can eliminate many kinds of debt, including credit card bills, personal loans, medical bills, and old taxes in a Chapter 7 bankruptcy.

A knowledgeable bankruptcy attorney will make sure the proper bankruptcy exemptions are used so that all your property, including your home and car(s) are protected. An experienced Newbury Park bankruptcy attorney will / help you protect all your assets.

Who Can File Chapter 7 Bankruptcy?

Your income should be reviewed by an experienced attorney who can confirm that you pass a “means test” to qualify for a Chapter 7 case. If you plan to keep your home or vehicle, you should be current on mortgage or car payments in order to file Chapter 7 bankruptcy. As long as your assets (all personal and real property) can be protected by bankruptcy exemptions, you can file Chapter 7 bankruptcy. Current law allows you to protect up to $626,400 of equity in your home.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is called a “home saver bankruptcy” because it stops the foreclosure process and lets you keep your home. Chapter 13 also stops lawsuits, bank levies, car repossession and wage garnishments. If an individual or family does not qualify for Chapter 7, or is behind on mortgage payments, car payments or taxes, a Chapter 13 bankruptcy is a good option.

A Chapter 13 filing gives you breathing room to catch up on past due payments over 3-5 years. It also allows you to pay back taxes without accruing penalties.

An experienced Newbury Park Chapter 13 attorney will prepare an affordable payment plan for you. It will be structured so that most of your payments go toward important bills like overdue house and car payments.

Many Chapter 13 filers end up paying little or nothing at all toward their unsecured debts. An experienced bankruptcy attorney is essential to preparing the case, as they will know the best way to keep payments as low as possible. Our attorneys have great relationships with the Trustees, Judges and creditors and work with them daily, so these relationships help your case move forward smoothly and efficiently.

Who Can File Chapter 13 Bankruptcy?

Chapter 13 is usually better suited for:

Individuals/married couples who are behind on mortgage, car or tax payments and need help catching up
Individuals/married couples whose assets cannot be protected and could lose their assets if they file for Chapter 7 bankruptcy
Individuals/married couples who had previously filed a Chapter 7 case within the last 8 years, so they can receive a discharge in Chapter 13

Once your case is completed and discharged in 3-5 years, your remaining debts are discharged, meaning you will no longer owe those debts.

Many people who normally would have been forced to file an excessively expensive Chapter 11 bankruptcy can now file Chapter 13 bankruptcy due to recent changes to the debt limit. The limit for unsecured and secured debt combined has increased to $2.75 million for individuals.

What is the Cost to File for Bankruptcy?

Chapter 13: Depending on the complexity of the case, the up-front fee generally starts at $500. The remaining fees can be paid through the bankruptcy plan payments, made over 3-5 years to the Trustee, which means Chapter 13 up-front fees are lower for clients.

Chapter 7: Fees are usually $1,000 to $1,300, depending on the difficulty of the case. This amount does not include the filing fee and credit report. We offer helpful payment plans so you can start your case for $500.00 and then pay the remaining balance of fees over a month or two.

The Law Offices of Kevin Simon knows you are going through a difficult time financially, so we strive to keep costs as low as possible for our clients, while maintaining excellent customer service throughout the process.

We are able to do this because we have perfected an efficient process for preparing and sustaining bankruptcy cases due to our 25 years of experience and more than 8,000 cases filed.

There are no hidden fees or hidden costs when you utilize the services of The Law Offices of Kevin Simon. You will receive a clear written statement explaining what you will pay. We work diligently to keep your costs low and transparent. Once you retain us to assist you, the fees do not change.

Choosing the Right Attorney

Not all attorneys are looking out for your best interest, are trustworthy, or are even knowledgeable enough to handle your case. Here are some suggestions to help you find the best attorney for your situation:

Look on Google, Yelp and attorney websites to read reviews and testimonials of the attorney.
Check to see if the attorney has been disciplined or sued on the California State Bar website.
Bankruptcy laws are very different from other areas of law, so having experience in Chapter 7 and 13 bankruptcy is a must. Make sure the attorney you are considering files bankruptcies, and ask to see some of the cases they have filed on the bankruptcy court website.
Make sure you feel that the attorney is being honest and up front with you. Having confidence in your attorney is important. Find another attorney if they’re not being honest with you.
Ask for referrals from family, friends, or trusted professionals (broker, accountant, attorney, etc.).
Make sure the attorney spends plenty of time meeting with you. If they don’t give you more than a few minutes of their time, this is not a good sign.
Never sign anything you don’t understand, make sure the attorney clearly explains what you are signing.
Get a plan of action in writing.
Before you decide to retain the attorney, spend at least an hour with them.

Facts About Bankruptcy

You have probably been given a lot of incorrect information from creditors trying to collect from you. Creditors and collection companies are paid to be very aggressive and intimidating, may say a bankruptcy can’t help you, and may not tell you the truth about your rights. It’s important to know the truth. Here are some facts about bankruptcy:

Creditors often try to scare debtors into believing that you will lose your home, car, or personal belongs if you file for bankruptcy. This is just not true. With the help of a reputable Newbury Park attorney, you should be able to keep all your possessions. A competent attorney will be sure to expertly prepare your case, advise if a Chapter 7 or 13 is best for you, and protect your assets.
Both the Old and New Testaments of the Bible recommend debt forgiveness; bankruptcy has been around for over 2,500 years.
The bankruptcy “automatic stay” stops collection attempts, and gives you space to breathe. Once you have filed for bankruptcy, creditors can no longer harass, collect from you, or even contact you.
Any foreclosure sale or repossession of your vehicle is immediately stopped once you file for bankruptcy. It gives you the ability to catch up on late payments.
Once your debts are wiped out in a bankruptcy, you can begin the work to fix your credit score. Most people who file bankruptcy are approved for a credit card soon after their case has been discharged. If you actively work to improve your credit, you could see your credit score increase to 700 within two years.
Unexpected financial problems can happen to anyone. U.S. Federal law has codified modern bankruptcy laws because people have had financial issues for thousands of years. It is an important tool created to help you out of a seemingly impossible situation.

Why Choose the Law Offices of Kevin Simon?

The bankruptcy process is complex, and can be difficult to navigate without the proper assistance. This is why it is so important to have a knowledgeable, dedicated attorney on your side to make sure your case and all paperwork is completed and filed correctly.

The Law Offices of Kevin Simon have over 25 years of experience filing bankruptcy cases. Our impeccable reputation has enabled us to file more than 8,000 cases. We are one of the most established and trusted top bankruptcy law firms in Los Angeles County. Most of our cases come from referrals from prior clients, other professionals, family, and friends.

We’re able to keep costs much lower than our competitors through our incredibly efficient system, refined over two and half decades. We know you’re already in a tough financial situation, so we keep costs low to benefit you, the client. We will answer all your questions, and will provide you with the best legal protection you need every step of the way throughout the bankruptcy process.

The Law Offices of Kevin Simon represents clients throughout Los Angeles and Ventura counties, including Newbury Park, Reseda, Simi Valley, Woodland Hills, Van Nuys, Lancaster, Valencia, Santa Clarita, Burbank, Canoga Park, and cities throughout Los Angeles County. Text, call, or contact us online today to schedule a free consultation with an experienced Newbury Park bankruptcy lawyer.