Bankruptcy San Clemente

Bankruptcy can be a frightful process. You've worked hard for your home and possessions, and the prospect of losing everything can be quite harrowing. If you are close to considering bankruptcy in San Clemente or anywhere else in Orange County, you should consult with an attorney you can trust. At Stockton Law Offices, we have advocated for hundreds of individuals and married couples in the throes of financial ruin. While the law does allow for Americans to file for bankruptcy on their own, it isn't a very good idea. If you are thinking about bankruptcy in San Clemente, you absolutely should speak with someone at Stockton Law.

There are several types of bankruptcy allowed by law. Two are used more than the others. Chapter 7 and Chapter 13 are the most common forms of bankruptcy in San Clemente today. These are also known as "liquidation" and "reorganization", respectively. When an individual declares Chapter 7 bankruptcy in San Clemente, they are forced to sell off big-ticket items such as yachts and furs, but they are sometimes allowed to retain basic necessities such as a house, a vehicle within a certain value range and tools and equipment used for work. Chapter 7 is most often reserved for individuals with relatively low income. Filers with more income are generally required to file for Chapter 13 bankruptcy in San Clemente.

If your income is sufficient to pay your debts, you will probably have to file for Chapter 13. This can actually work to your advantage. Chapter 13 may stop a foreclosure and force the lender to agree to a payment plan. You will have to stay current on your monthly mortgage payments and pay down your missed payments over a certain agreed-to time period. In order for this plan to work, you will be required to prove that you are able to make these payments, in full and on time. It is nearly impossible to negotiate these sort of terms on your own. If you think that a Chapter 13 may be what you want to do, first consult with an experienced attorney at Stockton Law Offices. Our lawyers are well versed in all aspects of consumer law. We can handle all sorts of cases, from credit problems to identity theft to bankruptcy in San Clemente. Please don't feel embarrassed about your financial difficulties. Here at Stockton Law Offices, we have heard just about everything.

If you believe that bankruptcy is your best and only choice, please contact Stockton Law Offices as soon as you can. Our toll-free telephone number is 866.682.8776. If you prefer, you may make initial contact via the Stockton Law website. Putting it off will only make matters worse. Speak with an experienced bankruptcy attorney and tell them your story. Call just as soon as you can.