San Fernando Valley Bankruptcy & Debt Relief Attorney
The Law Offices of Michael H. Raichelson
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6400 Canoga Avenue Suite 352 Woodland Hills, California 91367 USA |
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(888) 670-2424
(818) 444-7776
www.cabkattorneys.com
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Law Firm Overview
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The Law Offices of Michael H. Raichelson, based in Oxnard, California, focuses heavily on the needs of individuals, families and businesses that are financially paralyzed by debts. We believe everyone deserves a break. Our skilled Ventura County bankruptcy lawyers know how to get you a fresh start if you qualify for bankruptcy, and most people do.
Among The Law Offices of Michael H. Raichelson’s advantages: We are experienced. We have a proven track record of success and get our clients the best results possible; We know how to get our clients a discharge if they qualify; We charge reasonable fees compared to the competition; We offer free initial consultations; We meet with you personally. We give you the attention you need and deserve; We are prompt and return phone calls; We can file your bankruptcy on short notice.
While it is our job to solve our clients’ financial problems through bankruptcy, we also help them become better with their finances. We not only want to help you clean your financial house, we want to help you keep it clean for years to come and give your family an opportunity to gain control of its future. We assist our clients in taking the steps beyond bankruptcy to gain control of their personal finances and evaluate potential claims against persons or companies that have harmed them. We have the resources to connect you with people or companies that can help you after bankruptcy, so you will not end up in bankruptcy again.
Practice Areas
Additional Practice Areas: Bankruptcy Exemptions; Chapter 11 Bankruptcy; Chapter 13 Bankruptcy; Chapter 7 Bankruptcy; Life After Bankruptcy.
Practice Areas Description
Our bankruptcy practice includes:- Bankruptcy Exemptions
Federal bankruptcy laws allow for certain assets to be exempt from bankruptcy proceedings. Each state has its own exemptions. In California, two systems are used to determine exemptions — one geared towards equity in your home and the other towards cash and liquid assets. The Law Offices of Michael H. Raichelson will help you determine which system works best for you.
- Chapter 11 Bankruptcy
A chapter 11 bankruptcy allows an individual or business to reorganize under chapter 11 of the Bankruptcy Code. When an individual or business can no longer service its debt or pay its creditors and the debtor does not qualify for a chapter 13, the debtor can file a chapter 11 to reorganize its business affairs. A chapter 11 case is available to individuals, corporations and partnerships; however, it is primarily used for corporate reorganizations. The attorney’s fees and administrative costs are much greater in a chapter 11 case versus a chapter 7 or 13 case.
- Chapter 13 Bankruptcy
A chapter 13 bankruptcy is also called a wage earner’s plan. It is a repayment plan, which done correctly, will likely enable you to pay less back to your unsecured creditors over time. It enables you, if you have a regular income, to make a repayment schedule to repay all or part of your debts. Under a chapter 13 case, your attorney proposes a chapter 13 plan to make monthly payments to your creditors over a three to five year period, depending on several factors.
If your income is less than the California median income for a family of your size, your repayment plan will be three years. If your income is more than the California median income for a family of your size or, you are self employed, your repayment plan must be five years. While you are in the repayment plan, your creditors must not start or continue collection efforts. Also, the repayment plan may include amounts to catch up on past due mortgage or car payments. In other words, you can save your home from foreclosure or your car from repossession. So, if you want to keep your house or car, you are behind on your payments, and you have a steady stream of income, a chapter 13 bankruptcy may be the right choice for you.
- Chapter 7 Bankruptcy
One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor, like you, a “fresh start.” You have no liability for discharged debts. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. Partnerships and corporations may file a chapter 7 case so that the remaining assets of a partnership or corporation may be distributed in an equitable way so that no one creditor is wrongfully preferred over another creditor. Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. Also, and importantly, a chapter 7 case does not extinguish a lien on property.
- Life After Bankruptcy
After going through the chapter 7 bankruptcy process, you deserve a fresh start. However, if you do not take steps following your discharge to 1) monitor your credit; 2) clear up inaccuracies in your credit report; and 3) rebuild your credit, the opportunity you have following a Chapter 7 bankruptcy could be squandered. To get the most out of this opportunity, you should use the tools we offer through our website to 1) monitor your credit; 2) repair your credit; and 3) rebuild your credit.
More Information on The Law Offices of Michael H. Raichelson
San Fernando Valley Bankruptcy AttorneysWoodland Hills, CA Bankruptcy Exemptions Attorney
Bankruptcy Means Test Law Firm, Woodland Hills, CA
Woodland Hills, California Chapter 11 Bankruptcy Lawyer
Chapter 13 Attorney in Woodland Hills, California
Woodland Hills, California Chapter 7 Bankruptcy Lawyers
Law Offices of Michael H. Raichelson Testimonials
The Law Offices of Michael H. Raichelson Blog
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- USA - California, Oxnard - Main Office
