BANKRUPTCY ATTORNEY IN CATHEDRAL CITY, CALIFORNIA

When the term bankruptcy is used, those considering it are usually worried about the future and are possibly upset about decisions they made in the past. However, bankruptcy is not a sign of financial failure.

Instead, it is a strategic tool that can be used to help those struggling with overwhelming debt by helping them restructure or eliminate part or all their debts. 

At the Law Office of Robert L. Firth, we're here to help you ease your worries about your finances and show you that there is a path forward. While bankruptcy is clouded in stigma, you don't have to face this process alone.

Our attorney has decades of experience guiding individuals through the bankruptcy system. To get started, schedule a free initial consultation with us.  

Located in Cathedral City, California, we serve individuals in the surrounding areas of the Coachella Valley Palm Springs, Palm Desert, Desert Hot Springs, Rancho Mirage, Yucca Valley, 29 Palms, Blythe, El Centro, Menefee, and Riverside. 

Understanding Bankruptcy 

Bankruptcy is a legal process designed to help individuals and businesses who are unable to repay their outstanding debts.

Under the United States Bankruptcy Code, bankruptcy proceedings provide an orderly means for debt relief, allowing debtors to either eliminate or restructure their debts under the protection of the federal bankruptcy court.  

Filing for bankruptcy offers a fresh start for debtors by providing legal protections such as an automatic stay, which halts collection actions, including foreclosure, repossession, and wage garnishment while the bankruptcy case is active.

However, it is vital to understand that not all debts can be discharged in bankruptcy, and the process may have long-term financial implications. 

It's important to consult with an experienced bankruptcy attorney who can help you navigate the complexities of bankruptcy law effectively and make informed decisions about your financial future. 

Which Kind of Bankruptcy is Right for You? 

There are two primary types of bankruptcy to consider: Chapter 7 and Chapter 13. Each of these processes has distinct benefits and costs. 

Chapter 7 Bankruptcy 

Chapter 7 bankruptcy, also known as “liquidation” bankruptcy, allows you to cancel most or all your unsecured debts. This process assigns a bankruptcy trustee to sell your non-exempt property and assets to pay back creditors.

California, however, provides a generous bankruptcy exemption limit, which allows you to keep most of your essential assets, such as your home, car, and various household goods. 

To qualify for Chapter 7 bankruptcy, you must pass a means test that compares your income to the median income in California. If your income is below the state's median income, you may be eligible to file for Chapter 7.

If not, you may still qualify after deducting specific expenses from your current monthly income calculation. 

Chapter 13 Bankruptcy 

Chapter 13 bankruptcy, also known as "reorganization bankruptcy," allows individuals with regular income to develop a plan to repay all or part of their debts over three to five years. Unlike Chapter 7 bankruptcy, this option allows you to keep your property, even if you are over the exemption limits.  

With a structured repayment play, Chapter 13 bankruptcy allows you to consolidate multiple debts into one payment and often allows you to catch up on missed mortgage or car payments.

In addition, you may also be able to eliminate a second deed of trust on your home, commonly referred to as a “lien strip,” if your home is worth less than the first deed of trust. 

To qualify for Chapter 13 bankruptcy, you must prove that you have a regular source of income and that your existing unsecured debts are below a certain amount set by law. Currently, the amount is $419,275 for unsecured debts and $1,257,850 for secured debts. 

How Can Our Firm Help? 

Navigating the bankruptcy process can often be overwhelming and difficult. That's why it's crucial to have an experienced bankruptcy attorney by your side to guide you through every step of the way. Some of the services our firm provides include: 

• Evaluate your financial situation: We will help you review your finances and determine whether bankruptcy is the right option for you. 

• Determine eligibility: Each type of bankruptcy has specific qualifications and requirements. Our attorney can help you determine which option is best for your specific situation. 

• Assist with paperwork: Filing for bankruptcy involves a significant amount of paperwork, including income statements, asset lists, debt schedules, and more. Our attorney will strive to assist you with completing and filing these documents accurately. 

• Represent you in court: If your bankruptcy case goes to court, our experienced attorney is prepared to represent you and advocate on your behalf. 

Don't face bankruptcy alone. Contact our firm today to schedule a free consultation and get on the path towards financial freedom. Let us help you take control of your finances and start a new chapter in your life.  

Bankruptcy FAQ 

Will filing for bankruptcy impact my credit? 

Bankruptcy will impact your credit score regardless of which type of bankruptcy you file for. However, the effect is not permanent. Chapter 7 bankruptcy will stay on your credit report for ten years, while Chapter 13 will remain for seven years. While your credit score may initially decrease, you can rebuild your score by making regular payments to pay off your existing debts. 

How much does it cost to hire a bankruptcy attorney? 

In this time of financial stress, the last thing you need to worry about is expensive attorney fees. For this reason, our firm offers flexible payment plans for our clients. We genuinely care about your financial health and your future, and we want to make this process as painless as possible so you can start moving forward with confidence. 

I found other attorneys offering significantly low prices. Is this legit? 

We caution you to stay away from bankruptcy attorneys offering unrealistically low prices. Any legal professional charging less than $800 to handle your case to completion is likely not legitimate.

The low prices advertised by these attorneys typically only cover the cost of filing your case with the bankruptcy court and don’t include the cost of court appearances, attendance at creditors’ meetings, or efforts to stop post-filing collection calls.

Our rule of thumb: If it seems too good to be true, it probably is. 

At our firm, we aim to ensure that our prospective clients understand the cost of the entire bankruptcy process from beginning to end upfront. Our goal is to be as transparent as possible while offering fair and flexible payment arrangements. 

Schedule a Free Consultation Today 

Don’t let overwhelming debt define the rest of your life. Schedule a free consultation with our team at the Law Office of Robert L. Firth.

We serve all Californians—including members of the LGBTQ+ community and Spanish speakers—in Cathedral City, Palm Springs, Palm Desert, Desert Hot Springs, Rancho Mirage, and the Coachella Valley.