Defend your home with our expertise. Our Oakland attorneys stand ready to safeguard your property during the foreclosure process, ensuring your peace of mind.
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If you have defaulted on a loan to a lender or creditor, you may be at risk of repossession. While almost any item that you have purchased on credit could potentially be repossessed, vehicles are some of the most commonly repossessed items.
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Are you having difficulty keeping up with your student loan payments? Are you tired of paying too much in interest fees every month? If this is how you feel, don’t worry, you’re not alone.
Are you feeling overwhelmed by the weight of mounting debt? Are relentless creditors knocking at your door, and the threat of losing your home or car looming large? If you’re trapped in a vicious cycle of debt and despair, you’re not alone. Millions of Americans share your struggle, desperately seeking a way out.
At Kostopoulos Bankruptcy Law, we understand the emotional and financial turmoil that debt can cause. Our team of compassionate and experienced Oakland bankruptcy attorneys is dedicated to helping individuals and families break free from the shackles of debt and reclaim their financial freedom.
With over two decades of collective experience, we have successfully guided countless clients through the bankruptcy process, helping them:
Our Bankruptcy Law Firm – Oakland, CA
The Oakland bankruptcy lawyers at our firm have successfully helped thousands of clients pursue financial freedom in the past. Whether you are drowning in debt or feel lost in a sea of creditors, our legal team is ready to assist you.
Types of Bankruptcies
Discharging debt in bankruptcy is one of the most important steps towards financial freedom. With the right Oakland bankruptcy attorney on your side, you can effectively eliminate the maximum amount of debts while still restoring your credit over time.
While filing for bankruptcy can provide a significant amount of financial relief, you must keep in mind that there are some debts you cannot discharge. These may include child support payments, student loans, criminal fines, restitution fees, and most taxes.
You can, however, discharge the following:
We share nearly 100 years of collective legal experience. We use our experience, knowledge, and skill to help you obtain the fresh start that you deserve.
We have helped thousands of clients struggling with debt eliminate their financial hardships and end their debt nightmares.
We offer completely confidential consultations that are not only free of charge but are also of no risk or obligation to you.
We seek cost-conscious, strategic, and practical debt relief solutions that can help lead to long-term financial stability.
There are countless benefits to working with our legal team:
We share nearly 100 years of collective legal experience. We use our experience, knowledge, and skill to help you obtain the fresh start that you deserve.
Our firm is home to attorneys who have been chosen among America’s Top 50 Consumer Bankruptcy Attorneys.
We have helped thousands of clients struggling with debt eliminate their financial hardships and end their debt nightmares.
We offer completely confidential consultations that are not only free of charge but are also of no risk or obligation to you.
We seek cost-conscious, strategic, and practical debt relief solutions that can help lead to long-term financial stability.
As Certified Bankruptcy Specialists, we are more than qualified to help you navigate this complex and often overwhelming time. If you are considering filing for bankruptcy, please do not hesitate to contact our firm today for effective legal counsel.
Read through some of our testimonials straight from the source of our former clients to get a better idea of how we may be of help to you.
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While most common types of debts are dischargeable, it is essential to work with an attorney to ensure that you receive the maximum amount of relief. By planning, you can begin taking care of non-dischargeable debts earlier rather than falling back into a cycle of debt.
Owning a car is more than just having a means of transportation, as a vehicle is essential for you to get to work, attend personal errands, and support your family.
If you are burdened with the weight of choking debt, you may be looking into bankruptcy options to ease your financial struggles. Depending on how far you have researched, you
Many people have concerns about filing for bankruptcy in California, especially the impact on credit scores that they worry will follow them around for the rest of their lives. These
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Yes, filing for bankruptcy in Oakland will have an impact on your credit rating. If you file for Chapter 7 bankruptcy discharge, the case will appear on your report for 10 years. Under Chapter 13 rules, bankruptcy remains part of your credit history for 7 years. You do have options to rebuild your credit, such as obtaining a secured credit card or personal loan. Paying your monthly bills is also important, including your cable, phone, and utilities.
When you file for Chapter 7 in Oakland, a bankruptcy trustee is appointed to manage assets and debts throughout the process. The trustee will review all debts to ensure they qualify for discharge, and those that do will be eliminated. Another important role of the bankruptcy trustee is liquidating assets to pay back creditors. You can use exemptions to protect your assets. Note that the trustee will usually not sell off assets that would not be profitable.
With Chapter 7 bankruptcy in Oakland, you are seeking discharge of qualifying, unsecured debts. To qualify, there are strict rules related to your income. Still, at the end of your case, you will emerge debt-free. Chapter 13 is different because it involves a debt repayment plan where you pay back some of what you owe to creditors. Your plan will last 3 to 5 years, at which point your case concludes and qualifying debts are discharged.
The automatic stay is one of the key benefits of bankruptcy in Oakland, and it applies in both Chapter 7 and Chapter 13 cases. Upon the day you file, the automatic stay goes into effect, prohibiting your creditors from attempting to collect the debt you owe. Creditors cannot make calls or send letters, threaten or file a collection lawsuit, or garnish your wages. The automatic stay is in effect until your case closes, at which point qualifying debts are discharged.
When you file for Chapter 13 in Oakland, you work out a debt repayment plan to pay back some amounts to creditors. Your debts are combined into a single monthly payment that you can afford based on your income, so you will likely end up paying just part of what you owe. The debt repayment plan will be in effect for 3 to 5 years, and qualifying debts are discharged at the end of your case.
The point of Chapter 13 bankruptcy in Oakland is to pay back a portion of your debt to creditors through a debt repayment plan, which lasts 3 to 5 years. Fortunately, your debts are combined into an amount you can afford to pay monthly, usually less than the total you owe. At the end of your case, your remaining debts are discharged if they qualify under bankruptcy rules. However, you cannot discharge child support, alimony, and most types of taxes.
The core of a Chapter 13 bankruptcy case in Oakland is a debt repayment plan, in which debts such as credit cards are combined into a single monthly amount to pay back your creditors. Your debt repayment plan will last 3 to 5 years depending on your circumstances, but your remaining debts are discharged at the end of the case. Note that only qualifying debts are eliminated, but as an unsecured debt, your credit cards will probably be discharged.
When you file for Chapter 7 bankruptcy in Oakland, you can discharge your debt if you qualify under the rules on income. You can only eliminate debts that are unsecured, but medical bills typically fall in this category. Even interest and late fees can be discharged. You should keep in mind that part of the Chapter 7 process is liquidation, in which the bankruptcy trustee can sell your assets to satisfy your debt to creditors.
Unfortunately, those with high incomes typically will not qualify to file Chapter 7 bankruptcy in Oakland. There are two tests to determine whether you are eligible. If your earnings fall below the state median income, you automatically qualify. The Means Test is an option when your income exceeds this amount. You may be eligible if your earnings, reduced by important monthly expenditures, is below the threshold amount. However, high income individuals may qualify for Chapter 13 bankruptcy.