Knowing More About Our Temecula Bankruptcy Attorney
Temecula is one of the least populated cities in the United States but that does not mean that legal problems in the city are likely to be simpler. Finding the right Temecula bankruptcy attorney is important. It makes perfect sense finding a good legal expert who can provide the reliable guidance in going through legal procedures and in making the right choices.
After seeking referrals and compiling a list of potential lawyers, a consultation or an interview may be set to know more about the lawyers being considered or to evaluate them further. The right Temecula bankruptcy attorney to hire should be able to come up with practical and convincing answers to the questions that follow:
How long have you been in legal practice?
Obviously, competence is a significant factor to look at in a Temecula bankruptcy attorney. Competence comes from the years of training in an academic institution, the review, and the obtainment of a certification or license to practice law. Competence also comes with experience. An experienced lawyer with the exposure to various cases is likely to be more competent and more capable in handling cases.
What kinds of cases are you usually handling?
The expertise of a lawyer is important. Especially in California’s enormous legal system, finding and hiring the right attorney with the appropriate specialization for a particular case has an impact on the possible outcome of a case. For instance, a case involving adoptions could be best handled by a lawyer with the adequate experience and expertise in family law. Therefore, an experienced bankruptcy attorney or somebody with a different expertise, despite the years of experience, couldn’t be a proper choice.
What types of clients do you usually serve?
Is it individuals or corporations, business establishments or families? Most clients fail to inquire about this in interviewing their prospective lawyers. This is an important detail similar to expertise as earlier mentioned. A lawyer who had most of his or her career spent with corporate accounts can’t be expected to show the compassion and attention an individual needs.
Have you handled cases similar to mine? How many? What were the outcomes?
This is one of the questions that can be used to learn more about a lawyer’s track record. This is also one way to determine if the lawyer is suitable for the job. A detailing of the nature and the results of the similar cases the lawyer represented or handled can provide a clearer idea of whether the lawyer in question can competently handle a case or not.
What other special trainings or skills relevant to my case can you offer?
A lawyer is basically someone who earns a living by providing services to other people. One should not hesitate to treat him or her like a job applicant. A lawyer will willingly market all his or her applicable skills when asked. The answer to this question may also become a significant factor in deciding to hire a lawyer.
What are the fees, costs, and payment terms or options?
Absolutely, inquiring about the financial details involved in getting the services of a lawyer should not be missed. It is important to be clear with the attorney’s fees, filing fees, billing procedures and schedules, appointments, and various other costs and expenses that may be incurred. What have been discussed verbally should be the same things that would appear in the service contract, agreement, or billing. If negotiations or compromises are made, they should be put in writing to take effect as agreed.
Can you offer alternative ways to solve my case?
The interview with the lawyer is a way of exploring qualifications, testing skills, and probing experience. It may also serve as a consultation to some extent. An honest lawyer will lay out all possibilities—the available actions and probable consequences. A cunning attorney, however, will try to lead the case to a costlier direction. The client may or may not properly ascertain which answer is honest and which one is not. Nevertheless, given that this question is asked to several lawyers. The differences in answers should serve as a good basis for inference.
Filing for Bankruptcy in Temecula
Filing for bankruptcy can feel like a stressful and difficult decision to make. Getting peace of mind by knowing you are making the right decision can make the process less difficult. The first step in making this decision is becoming knowledgeable about your options. There are two main types of consumer bankruptcy cases that are filed: Chapter 7 and Chapter 13 bankruptcy. Understanding how each type of bankruptcy works and how it can help you can make the decisions making process easier.
Chapter 7 Bankruptcy – Chapter 7 bankruptcy help you eliminate debts such as credit cards, medical bills, unsecured personal loans, and old tax debt. It is not a repayment plan to creditors. In the majority of Chapter 7 bankruptcy cases the creditors receive nothing and you obtain a discharge of your debts. This means that in most cases the assets that you own are protected from creditors and you will get to keep your property. When you file for Chapter 7 bankruptcy there are two protections systems available to choose from to protect your assets. Generally if you own no home or own a home with minimal equity you will select the bankruptcy asset protection under Section 703. This section allows you to protect:
Section 703
- Wildcard Protection $30,825 (if you have not used the homestead protection)- You can protect any items you own up $30,825 of value.
- Vehicle Protection $5,850-You can protect up to the value of $5,850 in total for all vehicles. If the vehicle is worth more than $5,850 then you can utilize the available wildcard protection.
- Clothing, Household Goods, Furnishings-You can protect items up to $725 per item.
- Tools, Books, and Implements of Trade $8,725-You can protect work tools and business equipment used for your trade up to $8,725
- Other protections include, but are not limited to, protections for disability benefits and unemployment compensation.
If you have substantial equity in your home then you generally will select Section 704 to protect your assets in a Chapter 7 bankruptcy. The protections under Section 704 include:
Section 704
- Homestead Protection $300,000 to $600,000- Your homestead will be at least $300,000, but may be higher depending on the last years median sales prices of homes in your county. The maximum amount of the homestead is $600,000. To learn more about how this works go to: Increase in California’s Homestead Exemption
- Household Items and Personal Effects
- Vehicle Protection $3,325 -Protects up to $3,325 in equity in total for vehicles.
- Tools, implements, materials, books, uniforms, instruments, one commercial vehicle, equipment, and furnishings up to $8,725
Consult with a Temecula bankruptcy attorney who can guide you on whether the assets you own are protected in a bankruptcy. If an asset is not protected you may wish to file Chapter 13 bankruptcy to avoid the sale of the asset in a Chapter 7 bankruptcy.
Chapter 13 Bankruptcy-Chapter 13 bankruptcy is a repayment plan that ranges in most cases from 3 to 5 years. Although in a Chapter 13 bankruptcy you are repaying some of your debts back, it does not mean that you will have to repay all of your creditors back. How much of your debt you will need to repay as part of your plan will depend on the type of debt you owe, your disposable income and the value of unprotected assets. Chapter 13 bankruptcy is a good option when you have assets that would not be protected in a Chapter 7. Chapter 13 bankruptcy allows you to keep that asset and set up a repayment plan. Chapter 13 bankruptcy also has a number of other advantages including the ability to:
- Stop Foreclosure– allows you to repay your mortgage arrears through a plan.
- Repay Child Support
- Pay Recent Tax Debt
- Remove Second Mortgages
Chapter 13 bankruptcy can be a great option for giving you the breathing room you need to get back on track.