Bankruptcy Information

Bankruptcy is a legal vehicle that provides relief to individuals and businesses in serious financial trouble. Generally, the bankruptcy process assesses the debtor's assets and liabilities and provides a structure within which you are allowed to keep your property and pay the expenses you can afford, according to an order of priority established by law. The remaining debts are released. Some individuals believe that by filing for bankruptcy they will be affected for life. Nothing could be further from the truth.

The traditional stigma of bankruptcy has faded and been replaced by the view that it is a fresh start after a time of trouble. We can provide you with numerous examples of individuals and businesses that have filed for bankruptcy and later achieved financial success. The laws surrounding bankruptcy have been established to allow each individual a new opportunity to start fresh without an overwhelming financial burden. By filing bankruptcy you will provide yourself with an opportunity to free yourself from all or most of your debt that you have incurred. This will help you re-start your life fresh and take advantage of the lessons you have learned.

If you have experienced unexpected and extreme financial shock, caused by sudden events such as job loss, increase in mortgage payment, business failure, death, divorce or illness, filing bankruptcy may be the right solution for you. If you are facing serious financial challenges, it is very important to seek the counsel of an experienced bankruptcy attorney to help you to assess your legal options. We can assist you in determining whether or not to file for bankruptcy and, if so, to file for bankruptcy, relieving you of your debt and reestablishing your credit and financial health after the bankruptcy.

Filing for bankruptcy will relieve the mental and emotional stress you are going through, stop your wage garnishments and the hassles associated with debts collectors. The moment you file for bankruptcy, the credit collection agencies must cease hassling you immediately and deal with us. Rather than worrying day after day at home or work, come and discus your options with us today for free. To set up your free case evaluation, Email us at [email protected] or call us at 1-866-RAS-ATTY (1-866-727-2889). We will listen to your problems and advise you on all the possible options. Even though filing for bankruptcy is not pleasant, the benefits are immediate when you receive the relief provided by the Court. You get to go home and rest maybe for the first time in a long time knowing that you will receive a fresh start with expenses that you can afford and maintain. In many cases filing for bankruptcy is a life saver when there are no other options left. Email or call our offices today to schedule a free consultation so that you can take control of your life with a better financial perspective.

The definition of bankruptcy from the United States Bankruptcy Court in the Eastern District of California:

Bankruptcy is a way for people and businesses who owe more money than they can pay right now (�debtors�) to either work out a plan to repay the money over time in a case under chapter 11, chapter 12 or chapter 13, or to wipe out (�discharge�) most of their bills in a chapter 7 case. The filing of a bankruptcy petition immediately stops most actions to collect debts which were due at the time of filing, including law suits, repossessions, and foreclosures. Based upon the circumstances, the court may, however, permit some eviction, repossession and foreclosure actions to continue even after the case is filed.

What chapter you choose to file under, what bills can be eliminated, how long payments can be stretched out, and other details are controlled by the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. These are federal laws, which means they apply all over the United States. The Code and Rules are found in Title 11 of the United States Code. The various sections of the Bankruptcy Code are referred to throughout this booklet as "11 U.S.C. � .� In addition to the Bankruptcy Code and Rules, what property you can keep will be affected by sections 703 and 704 of the California Code of Civil Procedure.

Rust, Armenis & Schwartz,
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