Bankruptcy in Gilroy
The city of Gilroy is the “Garlic Capital of the World” but also boasts considerable wine and mushroom production. Gilroy has a population of around 48,821 residents. Despite its beautiful surroundings, those who live in Gilroy are not immune to financial hardship. In 2000, the median income for a Gilroy household was $66,401 and the median income for a family was $80,371. The per capita income for a Gilroy resident was $22,071, meaning that around 10% of the population of Gilroy was living below the poverty line. These statistics prove that you are not alone if you are a Gilroy resident suffering from financial difficulties.
At Lockhart Park, LLP our Northern California bankruptcy lawyers cater to individuals and small businesses throughout the Bay Area and Sacramento region. We represent in individuals in matters as far south as Hollister spanning north to Santa Rosa. At Lockhart Park, LLP we take pride in being the premier Northern California law firm representing individuals living in Gilroy that are forced to file a Chapter 7 or Chapter 13 bankruptcy. Not only do we strive to offer you both sound legal advice and a sympathetic ear during our free initial consultation, but our attorneys possess the unique knowledge and skill to determine whether bankruptcy makes sense for your particular circumstances, or if there is an alternative option available. At Lockhart Park, LLP, you will get the sophistication of a business law firm, but an affordable, honest and trustworthy lawyer that has compassion for people.
If you are an individual whose income is not substantial, have unsecured debt including credit card obligations, bank loans, medical expenses, or recently lost your job, a Chapter 7 bankruptcy may be the right choice for you. Chapter 7 is usually referred to a “straight liquidation” or “no asset” bankruptcy which can discharge most, if not all, of your unsecured debt. The process was designed to give Americans that become debtors a fresh start within a time frame of around 3 to 4 months. As of October 2005, debtors must pass what is called a “means test” to qualify for a Chapter 7. The attorneys at Lockhart Park, LLP have the training and expertise to give you the best chance of passing the means test and filing a Chapter 7 bankruptcy.
Alternatively, a Chapter 13 bankruptcy is a three (3) to five (5) year payment plan that is also known as a “debt reorganization” that was designed for debtors who has a steady source of income, but are steeped in debt and are unable to pay off their creditors. Basically, under a Chapter 13 bankruptcy, all your debt and payment obligations are consolidated into monthly payment plans up to 60 months. When the payment plan is over, the remaining unsecured debt is discharged and the debtor is given a fresh start. Individuals filing a Chapter 7 or Chapter 13 bankruptcy must also take an approved credit counseling course and obtain a certificate prior to filing, and a debt management course before a discharge is entered. A brief court appearance at a 341 Meeting of Creditors and a Confirmation Hearing in a Chapter 13 case are required.
If you are a Gilroy resident, we are happy to explain the process to you in more depth during your free consultation. Please contact our Sunnyvale office at 408-416-2929 to schedule an appointment and get the advice you need to make an informed decision regarding a possible bankruptcy. We also welcome you to go to our bankruptcy page on our website at www.lockhartpark.com/bankruptcy. To assist our clients, our bankruptcy office is located at 4655 Old Ironsides Dr #250, Santa Clara, CA 95054. This location is also very accessible to the Bankruptcy Court in San Jose. Remember, you are not alone if you are suffering from financial difficulties. At Lockhart Park, LLP, you will have a partner and true counselor of law to guide you through a Chapter 7 or Chapter 13 bankruptcy proceeding.
Please contact our office to speak with an experienced and compassionate bankruptcy attorney today.