[fusion_builder_container background_color="" background_image="" background_parallax="none" enable_mobile="no" parallax_speed="0.3" background_repeat="no-repeat" background_position="left top" video_url="" video_aspect_ratio="16:9" video_webm="" video_mp4="" video_ogv="" video_preview_image="" overlay_color="" video_mute="yes" video_loop="yes" fade="no" border_size="0px" border_color="" border_style="" padding_top="20" padding_bottom="20" padding_left="" padding_right="" hundred_percent="no" equal_height_columns="no" hide_on_mobile="no" menu_anchor="" class="" id=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_text] <h1 style="text-align: center;">BRANDON J. ANAND, ESQ.</h1> <h3 style="text-align: center;">MANAGING ATTORNEY</h3> [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent="no" hundred_percent_height="no" hundred_percent_height_scroll="no" hundred_percent_height_center_content="yes" equal_height_columns="no" menu_anchor="" hide_on_mobile="no" class="" id="" background_color="" background_image="" background_position="left top" background_repeat="no-repeat" fade="no" background_parallax="none" enable_mobile="no" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" video_preview_image="" border_size="0px" border_color="" border_style="solid" margin_top="" margin_bottom="" padding_top="20" padding_right="" padding_bottom="20" padding_left=""][fusion_builder_row][fusion_builder_column type="2_3" layout="2_3" last="no" spacing="yes" center_content="no" hide_on_mobile="no" background_color="" background_image="" background_repeat="no-repeat" background_position="left top" hover_type="none" link="" border_position="all" border_size="0px" border_color="" border_style="" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="" margin_bottom="" animation_type="" animation_direction="" animation_speed="0.1" animation_offset="" class="" id="" min_height=""][fusion_text] <p style="text-align: justify;"><b><a href="http://www.anandlaw.com/wp-content/uploads/2017/11/brandon_anand.jpg"><img class="size-full wp-image-222 aligncenter" src="http://www.anandlaw.com/wp-content/uploads/2017/11/brandon_anand.jpg" alt="" width="209" height="160" /></a></b></p> <strong>Brandon J Anand</strong> serves as Managing Attorney of <strong>ANAND LAW PC</strong>.  He handles both transactional and litigation matters, focusing on the areas of business, real estate and entertainment/IP. Brandon has successfully litigated claims on behalf of Defendants and Plaintiffs, in state and federal court, on a range of cases, including: enforcement of fraud claims brought by a foreign entity; obtaining dozens of restraining orders against national banks and mortgage servicers; and, prosecution and defense of multiple breach of contract, breach of fiduciary duty, fraud, and intellectual property claims.  In addition, he has eliminated millions of dollars of debt and liens for clients through bankruptcy litigation. Brandon has also handled countless transactional matters, with a focus on the entertainment and real estate sectors, including: major label recording and publishing deals; intellectual property licensing agreements; development agreements; copyright synchronization agreements; management agreements; producer agreements; commercial leases with national landlords and developers; corporate formation/governance agreements; and, registration and enforcement of copyrights and trademarks. [/fusion_text][/fusion_builder_column][fusion_builder_column type="1_3" layout="1_3" spacing="yes" center_content="yes" link="" target="_self" min_height="none" hide_on_mobile="no" class="" id="" background_color="" background_image="" background_position="left top" undefined="" background_repeat="no-repeat" hover_type="none" border_size="0" border_color="" border_style="solid" border_position="all" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="" margin_bottom="" animation_type="" animation_direction="left" animation_speed="0.1" animation_offset="" last="no"][fusion_text] <p style="text-align: right;"><span style="text-decoration: underline;"><strong>Assistants</strong></span>:</p> <p style="text-align: right;">Leticia Bustamante: 323-325-3389 Ext. 103</p> <p style="text-align: right;">Janine Raduechel: 323-325-3389 Ext. 104</p> [/fusion_text][fusion_section_separator divider_type="slant" divider_position="left" divider_candy="top" icon="" icon_color="" bordersize="" bordercolor="" backgroundcolor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" /][fusion_text] <p style="text-align: right;"><span style="text-decoration: underline;"><strong>Social Links</strong></span>:</p> <p style="text-align: right;"><a href="https://www.avvo.com/attorneys/90036-ca-brandon-anand-1843347.html" target="_blank" rel="noopener"><img style="max-width: 100%; height: auto;" src="http://www.anandlaw.com/wp-content/uploads/2017/11/avvo.png" /></a>   <a href="https://www.linkedin.com/in/brandon-j-anand-5628bbb" target="_blank" rel="noopener"><img style="max-width: 100%; height: auto;" src="http://www.anandlaw.com/wp-content/uploads/2017/11/linkedin.png" /></a></p> [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_color="" background_image="" background_parallax="none" enable_mobile="no" parallax_speed="0.3" background_repeat="no-repeat" background_position="left top" video_url="" video_aspect_ratio="16:9" video_webm="" video_mp4="" video_ogv="" video_preview_image="" overlay_color="" video_mute="yes" video_loop="yes" fade="no" border_size="0px" border_color="" border_style="" padding_top="20" padding_bottom="20" padding_left="" padding_right="" hundred_percent="no" equal_height_columns="no" hide_on_mobile="no" menu_anchor="" class="" id=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_title size="3" content_align="left" style_type="default" sep_color="" margin_top="" margin_bottom="" class="" id=""]ADMISSIONS:[/fusion_title][/fusion_builder_column][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_checklist icon="fa-chevron-right" iconcolor="#1e73be" circle="no" circlecolor="" size="13px" class="" id=""][fusion_li_item icon=""]State Courts of California[/fusion_li_item][fusion_li_item icon=""]United States District Court for the Central District of California[/fusion_li_item][fusion_li_item icon=""]United States District Court for the Eastern District of California[/fusion_li_item][fusion_li_item icon=""]United States Court of Appeals for the Ninth Circuit[/fusion_li_item][/fusion_checklist][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_color="" background_image="" background_parallax="none" enable_mobile="no" parallax_speed="0.3" background_repeat="no-repeat" background_position="left top" video_url="" video_aspect_ratio="16:9" video_webm="" video_mp4="" video_ogv="" video_preview_image="" overlay_color="" video_mute="yes" video_loop="yes" fade="no" border_size="0px" border_color="" border_style="" padding_top="20" padding_bottom="20" padding_left="" padding_right="" hundred_percent="no" equal_height_columns="no" hide_on_mobile="no" menu_anchor="" class="" id=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_title size="3" content_align="left" style_type="default" sep_color="" margin_top="" margin_bottom="" class="" id=""]EDUCATION:[/fusion_title][/fusion_builder_column][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_checklist icon="fa-chevron-right" iconcolor="#1e73be" circle="no" circlecolor="" size="13px" class="" id=""][fusion_li_item icon=""]University of California, Irvine; B.A., Economics/Management;[/fusion_li_item][fusion_li_item icon=""]Southwestern Law School in Los Angeles, Juris Doctorate.[/fusion_li_item][/fusion_checklist][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_color="" background_image="" background_parallax="none" enable_mobile="no" parallax_speed="0.3" background_repeat="no-repeat" background_position="left top" video_url="" video_aspect_ratio="16:9" video_webm="" video_mp4="" video_ogv="" video_preview_image="" overlay_color="" video_mute="yes" video_loop="yes" fade="no" border_size="0px" border_color="" border_style="" padding_top="20" padding_bottom="20" padding_left="" padding_right="" hundred_percent="no" equal_height_columns="no" hide_on_mobile="no" menu_anchor="" class="" id=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_title size="3" content_align="left" style_type="default" sep_color="" margin_top="" margin_bottom="" class="" id=""]AFFILIATIONS:[/fusion_title][/fusion_builder_column][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_checklist icon="fa-chevron-right" iconcolor="#1e73be" circle="no" circlecolor="" size="13px" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id=""][fusion_li_item icon=""]<a href="http://www.abtl.org/" target="new">Association of Business Trial Lawyers (ABTL)</a>[/fusion_li_item][fusion_li_item icon=""] <a href="https://www.bklawyers.org/" target="new">Central District Consumer Bankruptcy Attorney Association (CDCBAA)</a> [/fusion_li_item][fusion_li_item icon=""] Consumer Attorney Association of Los Angeles (CAALA) [/fusion_li_item][fusion_li_item icon=""] <a href="http://realpropertylaw.calbar.ca.gov/" target="new">Real Property Section, California State Bar</a> [/fusion_li_item][fusion_li_item icon=""] Artists, Dreamers & Creators Co-Op [/fusion_li_item][/fusion_checklist][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

[fusion_builder_container background_color="" background_image="" background_parallax="none" enable_mobile="no" parallax_speed="0.3" background_repeat="no-repeat" background_position="left top" video_url="" video_aspect_ratio="16:9" video_webm="" video_mp4="" video_ogv="" video_preview_image="" overlay_color="" video_mute="yes" video_loop="yes" fade="no" border_size="0px" border_color="" border_style="" padding_top="20" padding_bottom="20" padding_left="" padding_right="" hundred_percent="no" equal_height_columns="no" hide_on_mobile="no" menu_anchor="" class="" id=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_title margin_top="" margin_bottom="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" size="1" content_align="center" style_type="default" sep_color=""] CHAPTER 13 BANKRUPTCY [/fusion_title][fusion_text] <p style="text-align: center;"><b>(ADJUSTMENT OF DEBTS OF INDIVIDUAL WITH REGULAR INCOME a/k/a THE REPAYMENT PLAN)</b></p> [/fusion_text][/fusion_builder_column][fusion_builder_column type="2_3" layout="2_3" last="no" spacing="yes" center_content="no" hide_on_mobile="no" background_color="" background_image="" background_repeat="no-repeat" background_position="left top" hover_type="none" link="" border_position="all" border_size="0px" border_color="" border_style="" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="" margin_bottom="" animation_type="" animation_direction="" animation_speed="0.1" animation_offset="" class="" id="" min_height=""][fusion_text] <h2 style="color: #002c53;"><strong>BANKRUPTCY IS A FUNDAMENTAL RIGHT THAT IS GUARANTEED UNDER THE CONSTITUTION.</strong></h2> <p style="text-align: justify;">A few unfortunate events can lead to a cycle of debt which quickly becomes impossible to overcome.  The law offers a solution by providing a way for you to eliminate some or all of your debt. Designed to provide honest but unfortunate debtors a “fresh start,” the Chapter 13 can allow you to reorganize for your financial future, and halt bill collectors, wage garnishments and lawsuits to give you the breathing room necessary to do so.</p> <h2 style="color: #002c53;"><strong>THE CHAPTER 13 REPAYMENT PLAN</strong></h2> <p style="text-align: justify;">If you qualify, a Chapter 13 will allow you to retain your home while paying off a percentage of your unsecured debts. You will be required to make monthly "plan" payments to the Bankruptcy Trustee. The Bankruptcy Trustee then pays your creditors. The plan payments will need to be made for three to five years, after which time you will owe nothing to your pre-filing unsecured creditors. <b>ANAND LAW</b> can devise an economically feasible plan which will allow you to retain your home and pay off unsecured debtors at an affordable rate.</p> <h2 style="color: #002c53;"><strong>FORECLOSURES AND CHAPTER 13 BANKRUPTCY</strong></h2> <p style="text-align: justify;">If you are facing foreclosure, filing for Chapter 13 bankruptcy may allow you to save your home. <b>ANAND LAW</b> can navigate the bankruptcy and real estate laws in order to allow you to halt foreclosure and make reasonable payments to continue living in your home.</p> <h2 style="color: #002c53;"><strong>REMOVING LIENS IN CHAPTER 13 BANKRUPTCY</strong></h2> <p style="text-align: justify;">In a Chapter 13 bankruptcy, you can remove fully unsecured liens from your primary residence.  This includes junior mortgages (including HELOC), HOA, tax, and judgment liens.</p> <h2 style="color: #002c53;"><strong>CHAPTER 13 VS. CHAPTER 11</strong></h2> If you have over $1,184,200 in secured debt, you are not eligible for a Chapter 13, but you can still reorganize your financial situation with a <a class="anker-class" href="http://www.anandlaw.com/bankruptcy/chapter11/">Chapter 11</a>.  A <a class="anker-class" href="http://www.anandlaw.com/bankruptcy/chapter11/">Chapter 11</a> can be used to prevent foreclosure, retain multiple properties, and remove liens and "cram down" mortgages (i.e. reduce the mortgage to the market value of the property).  Anand Law can evaluate your situation and determine what is best for you. <a class="anker-class" href="http://www.anandlaw.com/bankruptcy/chapter11/">Click here for more information on Chapter 11 bankruptcy</a>. <h2 style="color: #002c53;"><strong><span style="text-align: justify;">ANAND LAW HAS SUCCESSFULLY:</span></strong></h2> <ul> <li> <h3 style="color: #002c53;">SAVED HOMES FROM FORECLOSURE</h3> </li> <li> <h3 style="color: #002c53;"><strong>REMOVED MORTGAGE AND HELOC (HOME EQUITY LINE OF CREDIT) LIENS</strong></h3> </li> <li> <h3 style="color: #002c53;">REMOVED HOA (HOMEOWNERS' ASSOCIATION) LIENS</h3> </li> </ul> [/fusion_text][/fusion_builder_column][fusion_builder_column type="1_3" layout="1_3" last="yes" spacing="yes" center_content="no" hide_on_mobile="no" background_color="" background_image="" background_repeat="no-repeat" background_position="left top" hover_type="none" link="" border_position="all" border_size="0px" border_color="" border_style="" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="" margin_bottom="" animation_type="" animation_direction="" animation_speed="0.1" animation_offset="" class="" id="" min_height=""][fusion_imageframe lightbox="no" gallery_id="" lightbox_image="" style_type="none" hover_type="none" bordercolor="" bordersize="0px" borderradius="0" stylecolor="" align="center" link="" linktarget="_self" animation_type="0" animation_direction="down" animation_speed="0.1" animation_offset="" hide_on_mobile="no" class="" id=""] <img src="http://www.anandlaw.com/wp-content/uploads/2017/11/Bankruptcy_Chapter_13-Foreclosure_Mortgage_Litigation-300x199.jpg" alt="" />[/fusion_imageframe][fusion_separator style_type="none" top_margin="20px" bottom_margin="" sep_color="" border_size="" icon="" icon_circle="" icon_circle_color="" width="" alignment="center" class="" id="" /][fusion_widget_area name="avada-slidingbar-widget-1" background_color="" padding_top="" padding_right="" padding_bottom="" padding_left="" class="" id="" /][fusion_separator style_type="none" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" sep_color="" top_margin="50px" bottom_margin="" border_size="" icon="" icon_circle="" icon_circle_color="" width="" alignment="center" /][/fusion_builder_column][fusion_builder_column type="3_4" layout="3_4" last="no" spacing="yes" center_content="no" hide_on_mobile="no" background_color="" background_image="" background_repeat="no-repeat" background_position="left top" hover_type="none" link="" border_position="all" border_size="0px" border_color="" border_style="" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="" margin_bottom="" animation_type="" animation_direction="" animation_speed="0.1" animation_offset="" class="" id="" min_height=""][fusion_separator style_type="none" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" sep_color="" top_margin="35px" bottom_margin="" border_size="" icon="" icon_circle="" icon_circle_color="" width="" alignment="center" /][fusion_section_separator divider_type="slant" divider_position="right" divider_candy="top" icon="" icon_color="" bordersize="" bordercolor="" backgroundcolor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" /][fusion_text] <h2 style="text-align: center;">Click below to schedule a consultation.</h2> [/fusion_text][fusion_button link="tel:+13233253389" title="" target="_self" link_attributes="" alignment="center" modal="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" color="custom" button_gradient_top_color="" button_gradient_bottom_color="" button_gradient_top_color_hover="#ffffff" button_gradient_bottom_color_hover="#ffffff" accent_color="" accent_hover_color="#002c53" type="" bevel_color="" border_width="" size="" stretch="default" shape="pill" icon="fa-phone" icon_position="left" icon_divider="no" animation_type="" animation_direction="left" animation_speed="0.3" animation_offset=""]CALL US[/fusion_button][fusion_separator style_type="none" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" sep_color="" top_margin="35px" bottom_margin="" border_size="" icon="" icon_circle="" icon_circle_color="" width="" alignment="center" /][fusion_button link="http://www.anandlaw.com/contact-us/" title="" target="_self" link_attributes="" alignment="center" modal="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" color="custom" button_gradient_top_color="" button_gradient_bottom_color="" button_gradient_top_color_hover="#ffffff" button_gradient_bottom_color_hover="#ffffff" accent_color="" accent_hover_color="#002c53" type="" bevel_color="" border_width="" size="" stretch="default" shape="pill" icon="" icon_position="left" icon_divider="no" animation_type="" animation_direction="left" animation_speed="0.3" animation_offset=""]CONTACT US ONLINE[/fusion_button][fusion_section_separator divider_type="slant" divider_position="right" divider_candy="bottom" icon="" icon_color="" bordersize="" bordercolor="" backgroundcolor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" /][fusion_separator style_type="none" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" sep_color="" top_margin="50px" bottom_margin="" border_size="" icon="" icon_circle="" icon_circle_color="" width="" alignment="center" /][fusion_tagline_box backgroundcolor="" shadow="no" shadowopacity="0.7" border="1" bordercolor="#002c53" highlightposition="none" content_alignment="center" link="" button="" linktarget="_blank" modal="" button_size="medium" button_type="" button_shape="pill" buttoncolor="default" title="" description="" margin_top="" margin_bottom="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" animation_type="" animation_direction="left" animation_speed="0.3" animation_offset=""] <h3 style="color: #002c53;"><a class="anker-class" href="http://www.anandlaw.com/falqs/#tab-4b5b872312be1173c26" rel="noopener">BANKRUPTCY FREQUENTLY ASKED QUESTIONS</a></h3> [/fusion_tagline_box][fusion_separator style_type="none" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" sep_color="" top_margin="35px" bottom_margin="" border_size="" icon="" icon_circle="" 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[fusion_builder_container background_color="" background_image="" background_parallax="none" enable_mobile="no" parallax_speed="0.3" background_repeat="no-repeat" background_position="left top" video_url="" video_aspect_ratio="16:9" video_webm="" video_mp4="" video_ogv="" video_preview_image="" overlay_color="" video_mute="yes" video_loop="yes" fade="no" border_size="0px" border_color="" border_style="" padding_top="20" padding_bottom="20" padding_left="" padding_right="" hundred_percent="no" equal_height_columns="no" hide_on_mobile="no" menu_anchor="" class="" id=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="no" center_content="no" min_height="none" last="no" hover_type="none" link="" border_position="all"][fusion_title margin_top="" margin_bottom="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" size="1" content_align="center" style_type="default" sep_color=""] CHAPTER 7 BANKRUPTCY (LIQUIDATION) [/fusion_title][/fusion_builder_column][fusion_builder_column type="2_3" layout="2_3" last="no" spacing="yes" center_content="no" hide_on_mobile="no" background_color="" background_image="" background_repeat="no-repeat" background_position="left top" hover_type="none" link="" border_position="all" border_size="0px" border_color="" border_style="" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="" margin_bottom="" animation_type="" animation_direction="" animation_speed="0.1" animation_offset="" class="" id="" min_height=""][fusion_text] <h2 style="color: #002c53;">BANKRUPTCY IS A FUNDAMENTAL RIGHT THAT IS GUARANTEED UNDER THE CONSTITUTION.</h2> <p style="text-align: justify;">If you are caught in an endless cycle of debt, it is not your fault. Exorbitant interest rates on credit cards, medical bills and job loss are a few of the many reasons that cause financial hardship and can happen to anyone. A few unfortunate events can lead to a cycle of debt which quickly becomes impossible to overcome. But, you do not have to continue to drown in debt. The law offers a solution by providing a way for you to eliminate some or all of your debt. Designed to provide honest but unfortunate debtors a “fresh start”, bankruptcy protection is a powerful tool which can allow you to clear insurmountable debt and begin rebuilding your credit.</p> <h2 style="color: #002c53;">THE CHAPTER 7 LIQUIDATION PROCESS</h2> <p style="text-align: justify;">Chapter 7 is the most common type of bankruptcy filing for individual debtors and is titled “Liquidation”. Liquidation means that property will be sold in order to pay back creditors. However, property will <u>not</u> be sold if:</p> <ul> <li>It has no value and cannot readily (easily) be sold on the open market;</li> <li>It is exempt (this is typically determined by state law although federal law is also applicable), or</li> <li>It is fully or over-mortgaged</li> </ul> <p style="text-align: justify;">If property does not fall into one of the above three categories, it will be sold by the U.S. Trustee. Typically, chapter 7 cases are “no asset” cases, meaning the debtor(s) has/have no property which will be sold.</p> <p style="text-align: justify;">There are various reasons property is not sold. Real property (e.g. your home) is often fully or over mortgaged. The trustee will not sell this property because there will be no money from the sale with which to pay off creditors. Where there is equity, the property can often be claimed as exempt. State law provides for various exemptions which allows for people to keep property if they were sued in State court. In California, there are two sets of exemptions (State and Federal) and it is important to find a law firm which can help you best choose the best set for your situation.</p> <p style="text-align: justify;">Personal property is typically not sold because it has little or no value. Household goods, pets, pictures, and costume jewelry are all items which are highly unlikely to be sold.</p> <h2 style="color: #002c53;">MOST DEBTS ELIMINATED COMPLETELY</h2> <p style="text-align: justify;">A Chapter 7 bankruptcy allows debtors to eliminate (“discharge”) most debts. This means that you will no longer be obligated to pay, and creditors will no longer have the rights to enforce, these debts. There are three notable exceptions to debts which are discharged in a Chapter 7 bankruptcy:</p> <ol> <li> <p style="text-align: justify;"><u>Non-dischargeable debts</u>. These are debts that Congress had determined cannot be affected by bankruptcy filings. You will be obligated to pay, and creditors will retain rights to enforce, these debts after the bankruptcy. Here is a partial list of the most common non-dischargeable debts:</p> <ul> <li>Most, but not all taxes</li> <li>Child, spousal and family support debts</li> <li>Non-support debts which are related to a divorce or separation</li> <li>Most, but not all student loans</li> <li>Damages caused by driving, flying or boating under the influence</li> <li>Debts related to false statements (such as loan applications) or fraud</li> <li>Damages caused by intentional injuries</li> </ul> </li> <li> <p style="text-align: justify;"><u>Debts which are reaffirmed</u>. Bankruptcy allows for certain debts (e.g. car loans or loans from family members) to be “reaffirmed”. Reaffirmation is a process whereby you can agree to continue being responsible for a debt which would be otherwise discharged by the bankruptcy. Choosing to reaffirm a debt is complete voluntary, although payments will likely need to be made in order to retain property post-bankruptcy even if the debt is not reaffirmed (e.g., if you have a car loan and do not reaffirm the debt, you would likely need to make payments post-bankruptcy or the lender will seize the car).</p> </li> <li> <p style="text-align: justify;"><u>Secured debts</u>. These are debts which are secured to property such as your home or car. While the debt is technically eliminated through bankruptcy, payments to the lender will be required in order to retain the property post-bankruptcy.</p> <p style="text-align: justify;">Compliance with the bankruptcy court’s requests for information and financial records is essential to one’s ability to discharge debts. If the court finds a debtor to be non-cooperative, discharge may be denied.</p> </li> </ol> <h2 style="color: #002c53;">FILING PROVIDES BREATHING ROOM FROM HARASSING CREDITOR COLLECTIONS</h2> <p style="text-align: justify;">Filing for bankruptcy will immediately stop all collections, wage garnishments and lawsuits. Upon filing, an automatic court order is entered which places into effect the “automatic stay”. The automatic stay prevents creditors from collecting on a debt in any manner—that is, they may not call, write, e-mail or in any other way contact you or any other person to collect on any debt.</p> <h2 style="color: #002c53;">THE MEANS TEST</h2> <p style="text-align: justify;">In 2005, the credit industry convinced Congress that too many people who could pay their debts were filing for bankruptcy instead of doing so. The result was the requirement that debtors pass the “Means Test”. If your household earns less than the average household of your size in your area, then the Means Test does not apply. If your household earns more than this average, the Means Test must be performed. The Test essentially compares your household’s income and expenditures with standards set by the IRS. If the Means Test is not passed, a presumption arises that you can pay back your debts. 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