If your debt is unmanageable, you need to know what financial options are available to you, including bankruptcy. Bankruptcy laws in California allow people living with a disability, or those caring for a loved one with a disability, to file for bankruptcy in conjunction with other debt-relief options.
All hope for financial control is not lost when you reach out for bankruptcy help. American Disability Association will thoroughly review your financial situation and provide a personalized legal strategy that meets your short- and long-term goals.
A Chapter 7 bankruptcy in the State of California permits you to discharge a significant portion of your unsecured credit card debt while allowing you to keep some or most of your assets. Qualifying for Chapter 7 requires you to pass a straightforward bankruptcy means test.
Passing the means test is as simple as having a total household income lower than the median for your household size.
Higher-earning families may struggle with this aspect even though they are still facing tremendous financial stress. If you do not initially pass the Chapter 7 means test, our California Bankruptcy Lawyer will help you look for opportunities, where available, so that you can.
Chapter 13 bankruptcy proceedings in the State of California are for those who do not qualify for Chapter 7 or for those living with a disability who are attempting to save their home. Under Chapter 13, you still pay back some or all your debt. However, you also receive the benefit of financial relief while keeping your assets, like your home and car.
Essentially, Chapter 13 is a debt reorganization that requires you to make regular payments, often only a small percentage of the unsecured debt that is owed. After a three to five-year period, your general unsecured debt will be discharged upon completing your chapter 13 plan.
We will help you get out from underneath your overwhelming debt and look for opportunities to keep your assets. We want to help you understand the bankruptcy process in California and obtain debt relief so you can have a fresh start. It only takes one telephone call to get started.
Contact us at (888) 323-2133 to get help today.