Chapter 7 & 13 Bankruptcy
A Chapter 7 Bankruptcy can wipe out all your unsecured debts within a period of months. In a great majority of cases debtors have no assets that they would lose because California’s laws protect them for you. A Chapter 7 bankruptcy gives a person a relatively quick “fresh start”, and eliminates your debt, while keeping all of your exempt assets.
A Chapter 13 Bankruptcy is for those that have some money left over after paying all their necessary expenses, or who have assets of significant value. People in these situations can reorganize on their debt and pay back only what they can afford to pay over a period of three to five years. Chapter 13s can also allow a person to strip their second and junior mortgages if the value of the home is less than the balance owed on the first mortgage.
In many situations, a bankruptcy may not be the right or only answer. Some people may make too much money, have too much in assets, or have a prior bankruptcy within the last 8 years. There are many more reasons why a person may choose not to file bankruptcy. For these individuals, Los Angeles bankruptcy Attorney Jacob Emrani offers Debt Negotiations or settlements, where we can reduce the amount owed on each individual debt.
Creditor Abuse / FDCPA
Your Federal and State governments protect you, the consumer, against abusive and harassing collection attempts by creditors and collection agencies. The law regulating how a debt may be collected from you is called the Fair Debt Collection Practices Act (FDCPA).
Under the FDCPA, collectors are limited in what they can and cannot do when they attempt to contact you for payment.
A few of the things collectors cannot do are:
1. Harass you with threats of harm or obscene language
2. Lie about the amount that you owe
3. Threaten you with criminal charges or jail time if you do not pay
4. Call or contact you at inappropriate times, like in the middle of the night, late at night, or in the early morning
5. Call or contact you at inconvenient places
6. Add interest or penalties that are illegal
7. Contact you at your workplace when you’ve told them not to
8. Discuss your debt with anyone else aside from yourself or your attorney
If a creditor or collector violates the law, you are entitled to sue them in State or Federal court. You are entitled to compensation for damages caused by the collector, $1,000.00 in statutory damages, court costs and attorney’s fees. In California, the Rosenthal FDCPA (California Civil Code §§ 1788 et seq.) offers even more protections to consumers than its Federal counterpart.
Often times, a person like yourself who is in need of federal bankruptcy protection, may also need the protections of the FDCPA. If you are having difficulty paying your bills or haven’t been paying them, then it is very likely you are being inundated by collection calls at home, on your cell, at your workplace, or even at the home of your family members.
Many collectors will call you, knowing that you do not know the laws protecting you. In addition, many collectors themselves do not know such laws. These situations give rise to abuse and harassment. If you are being contacted by creditors, please call us for a free consultation. We will discuss how you can stop the calls, and possibly recover against these collectors due to their abuse.
Many individuals do not seek bankruptcy protection in time, which allows creditors to place involuntary or judgment liens on their assets such homes, cars, or bank accounts. As a skilled Los Angeles bankruptcy lawyer, Jacob Emrani will help to avoid these liens before they happen. But if they do Jacob Emrani can help to get them removed.
No matter what your financial situation, the Law Offices of Jacob Emrani can offer you needed legal insight. Call the firm today to learn how we can help you!