Professional Bankruptcy Attorney in Santa Barbara .pdf
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Professional Bankruptcy Attorney in Santa Barbara
Santa Barbara is a city in southern part of US state of California has a
population 88,410 and this county has a population of above 423,895. In
spite of that, you can easily find bankruptcy attorney in Santa Barbara is
available right here in Santa Barbara. A bankruptcy attorney can handle
multiple functions filing for clients bankruptcy, resolving issues in real estate,
concerns related to estate and probate or civil / general litigations as well.
Bankruptcy attorney helps his clients in all issues pertaining to bankruptcy
petitions chapter 7 &13 including the filling and submission of all paperwork.
He also helps protecting client’s interest in meeting with creditors, trustees
and in court of bankruptcy. Time factor is very crucial in dealing with
bankruptcy and a bankruptcy attorney in Santa Barbara ensures maximum
benefit to clients with minimum delay in court proceedings.
The Chapter 7 is about liquidating bankruptcy in which the court may order
to discharge all of the debtor’s debts immediately. The Chapter 13 is more of
a proposal plan by debtor to be able to pay unsecured creditors a portion of
the credit owed over a period of five years usually. In both the cases a
bankruptcy attorney can help his clients in preparing filing and submitting
paperwork to court.
At times clients might be taking an incorrect decision of filing for bankruptcy.
In such cases the bankruptcy attorney in Santa Barbara will be able to help
clients reassess their decisions and ensure that they do not file in for
bankruptcy while there are more feasible options available.
Sometimes clients try to discharge taxes by filing for bankruptcy,
timing is not correct for instance the filing is done even a day before
eligible for discharging taxes, the client will not be able to discharge
taxes. In such cases recommendations of a good bankruptcy attorney
Barbara can be very helpful.
In 2005, the US lawmakers have introduced “Means Test” that is looked up
as curbing tool to prevent misuse of bankruptcy systems. Under this test the
income and expenses of party filing for bankruptcy are matched with IRS
standards and failing the Means Test may imply that the debtor client may
only be able to filing for Chapter 13 or not file at all.
There are two main types of exemptions in bankruptcy in state of California.
The difference between the two schemes is that one has the homestead
exemption that protects debtor’s right on his residence. The other is a socalled “wild card” exemption due to which a debtor may hold back any type
of property or cash, up to $24,000. Both schemes protect retirement funds,
Social Security payments, and many other types of assets. Choice of right
exemption is crucial to ensure the client get the maximum possible benefit
and minimum possible loss in a bankruptcy. This decision is taken by a
bankruptcy attorney in Santa Barbara.
As a result it is very crucial to choose a right bankruptcy attorney when one
is filing for bankruptcy in Santa Barbara given the limited number of
attorneys in the region.