California Bankruptcy Lawyers
Providing solutions to overwhelming debt
Even in a promising economy, mounting debt can begin to feel unmanageable and overwhelming. Established businesses with cash flow issues, aged accounts receivable, rising costs of doing business or burdensome long term leases may face insolvency issues that require experienced analysis, not just a quick fix solution. At Hughes & Hughes, LLP, our attorneys bring knowledge and skills to help you take control of your debt so you can take control of your life.
Negotiators of insolvency options
At our firm, we want what is in your best interest, which is not always bankruptcy. When bankruptcy is not your best option, our experienced attorneys are experienced with other possible options to resolve your situation. A workout with creditors is a business option, as well as possible state court assignment for benefit of creditors. Reorganization can be in a chapter 11 case or informally with your creditors. We will look at all possible options for your specific situation.
Experts in debt analysis
We truly listen to your needs and thoroughly analyze your case to determine if bankruptcy offers the most effective way to ease your financial burden. We review your debts, income and expenses, and explain the ultimate impact bankruptcy would have on your family, business, home, and future credit. We answer all your questions about the bankruptcy process and the outcomes you should expect. Our compassionate approach to bankruptcy leaves no surprises.
Reprieve through automatic stay
Creditors’ aggressive collection methods unfairly compound the stress of escalating debt. As soon as you file for bankruptcy, creditors must immediately stop collections efforts, including those distressing letters and phone calls. Your attorneys then deal with your creditors so you can regain your peace of mind.
Your bankruptcy options in California
- Chapter 7 bankruptcy: If you and/or your spouse own few assets and earn relatively low wages, you may qualify for filing a Chapter 7 bankruptcy to provide relief from your debts through liquidation of your assets. Because many household and personal items are exempt from bankruptcy liquidation, you can make a fresh start with limited disruption to your life. If you are a business owner and 51% or more of your debt is business related you can file a Chapter 7 case. If Chapter 7 is not right for you we will evaluate the suitability of a Chapter 13 or a Chapter 11.
- Chapter 11 bankruptcy: If you own a corporation, partnership or sole proprietorship, Chapter 11 bankruptcy permits your business to continue operating while you pay creditors under a reorganization plan. The Chapter 11 option helps you escape debt without losing the business you struggled so hard to build. An individual may also qualify for a Chapter 11 if you have significant assets to reorganize.
- Chapter 13 bankruptcy: Chapter 13 bankruptcy enables you to prevent your lender from foreclosing on your home in certain circumstances. If you and your spouse have substantial incomes, but sudden illness, job loss or another unexpected circumstance has interfered with your ability to pay your debts, Chapter 13 bankruptcy permits you to pay debts over time.