Are you drowning in credit card debt? Have you received threats from creditors? Are you worried about losing your home? If you’re struggling with debt and see no way out, bankruptcy may be the right solution.

Bankruptcy is a legal process that can help you eliminate many kinds of debt. It is over 2,500 years old that has helped millions of people get out of “debtor’s prison” and start fresh.

If you are considering bankruptcy, you need an experienced attorney to help you navigate the complex process of filing. Look for an Oxnard bankruptcy attorney who understands bankruptcy code and how bankruptcy law applies in California.

If you’re worried about losing your home, car, and belongings in bankruptcy, it’s important to know people who file bankruptcy with our Oxnard bankruptcy attorney retain all their property. Bankruptcy can help you protect your assets while simultaneously eliminating debts.

Attorney Kevin Simon will give you the facts about bankruptcy. He has more than 25 years of experience helping Oxnard clients successfully navigate the bankruptcy process.

We’ve helped more than 8,000 clients, and we’re ready to help you. Contact us for a free consultation to learn about all your debt-relief options.

What Is Bankruptcy?

Bankruptcy is a legal proceeding under federal law that can eliminate many kinds of debt. It is a protection and under federal law that can help you get a fresh start.

Bankruptcy is a good solution for many people, but it’s not for everyone. Our experienced bankruptcy attorney will help you determine whether bankruptcy is the right strategy for you and counsel you on all your debt-relief options.

The two most common types of bankruptcy filed by individuals, couples, and families are Chapter 7 bankruptcy and Chapter 13 bankruptcy.

Chapter 7 Bankruptcy

Many people prefer Chapter 7 because it can eliminate debts without having to repay anything to unsecured creditors. Chapter 7 is also the fastest path through bankruptcy. The entire process takes approximately 90 days.

Chapter 7 bankruptcy stops lawsuits, wage garnishments, bank levies, repossessions and foreclosures.

Our experienced Oxnard bankruptcy attorney will help you determine whether you qualify for Chapter 7 and whether this is the best option for your situation.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows you to repay your debts over a period of three to five years. It’s a good alternative if you do not qualify for a Chapter 7 bankruptcy due to high income or it is not legally appropriate to be in a chapter 7. It’s also an option if you filed a Chapter 7 in the last eight years.

Chapter 13 puts a stop to the foreclosure process so you can save your home. It also stops wage garnishments, bank levies, and all lawsuits. It gives you breathing room to catch up on overdue payments.

Once you file Chapter 13 bankruptcy, a trustee will be assigned to your case. Our Oxnard bankruptcy attorney will work with the trustee to set up a repayment plan and ensure your monthly payments are affordable.

Chapter 13 repayment plans include unsecured debt like credit card bills, personal loans, and medical payments. Depending on your income and expenses, you may not be required to pay these debts at all. In fact, many Chapter 13 filers end up paying nothing or pennies on the dollar for their unsecured debts. The only requirement is repaying secured debt like a mortgage or car payments.

Once you’ve completed your Chapter 13 repayment plan, most remaining debts will be discharged, allowing you a fresh start. Your credit should be 700 within 2 years.

Note: In June 2022, the debt limit was increased to $2.75 million for individuals filing for Chapter 13 bankruptcy. Both secured and unsecured debt now count toward the single limit. These changes make Chapter 13 accessible to more people.

Facts About Bankruptcy

Creditors can be incredibly aggressive and intimidating when attempting to collect on debts. They don’t always tell the truth about your rights, and they may even attempt to discourage you from filing bankruptcy.

It’s important to have the facts. Here are some things to know about bankruptcy:

Bankruptcy is an age-old tool for debt relief.

Debt forgiveness is prominently mentioned in the Old & New Testament. In modern times, bankruptcy is a federal process that provides a safety net from debt relief.

Filing for bankruptcy puts a stop to harassment by creditors.

Whether you file for Chapter 7 or Chapter 13 bankruptcy, the court will issue an “automatic stay.” This prohibits creditors from contacting you to collect payment.

People who file for bankruptcy are able to keep their belongings.

Creditors often try to scare debtors into believing that they will lose their house, car, and personal belongings in bankruptcy. The reality is that the majority of people who file for bankruptcy are able to keep their home and possessions.

Bankruptcy can help you save your home.

Filing for bankruptcy halts foreclosure on your home. This gives you room to breathe and catch up on late payments.

Bankruptcy can help you rebuild your credit.

Once your debt is discharged in bankruptcy, you can work on repairing your credit score. Many people are able to acquire a new credit card after discharge and get their score up to 700 within two years.

Filing for bankruptcy doesn’t have to be expensive.

Our bankruptcy law firm strives to keep costs low. We have developed an extremely efficient process for bankruptcy filing based on 25 years of experience and more than 8,000 cases filed.

The fees for Chapter 7 vary based upon the complexity of the case, but a typical case is $1,000.00 to $1,300.00, not including the filing fee and credit report. You can also set up payment plans.

The up-front fees for Chapter 13 range from $500 up, depending on the case. The balance of the fees is paid through monthly plan payments to the trustee. You will pay the fees over a period of 36 to 60 months.

Our law firm offers a transparent fee structure, and we will provide you with a written statement outlining what you will pay; this amount will not change once you retain us.

Choosing the Right Oxnard Bankruptcy Attorney

Just because a person has the word “attorney” attached to their name, it does not mean they are experienced or can be trusted to look out for your best interest.

Bankruptcy laws are complex. You need someone who specializes in bankruptcy law and understands how it pertains to the Central District of California. An inexperienced attorney may not have the skills or knowledge to properly protect your assets. If they fail to disclose all the required information on your bankruptcy forms, your case could be dismissed.

Here’s how to protect yourself when choosing an attorney:

Make sure they have experience in Chapter 7 and 13 bankruptcy and 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.

Always get a plan of action in writing and ask the attorney to explain anything that is unclear or confusing. Never sign anything you don’t understand.

You have the right to leave and find another attorney if you feel uncomfortable for any reason.