Find a Bankruptcy Lawyer in Roseville, California

Find the right Bankruptcy attorney in Roseville, CA

In Roseville, California, bankruptcy is a court procedure in which a person or business has some or all of their debts absolved (or "discharged"), theoretically allowing them to commence with a clean slate, and move on with their lives no longer drowning in debt (and hopefully having learned to better manage their use of credit in the process). Remember, though, that bankruptcy should not be viewed as a fitting way to get out of debt that you don't feel like paying back. It is meant to serve as an option of last resort for people and businesses faced with debt that they will probably never be able to pay back. The decision to file for bankruptcy can result in negative consequences, such as damaged credit ratings, which must be seriously weighed against the probable benefits.

For that reason, it would be advisable to speak with a good Roseville, California bankruptcy attorney. This attorney will be able to advise you as to whether or not filing for bankruptcy is a good idea, given your specific situation. This determination is highly dependent on the details of each individual case, so a Roseville attorney's advice is really indispensable.

Types of Bankruptcy in Roseville, California

There are three basic bankruptcy schemes that are most commonly used in Roseville: Chapters 7, 13, and 11. Bankruptcy is a creation of federal law, so the process for filing for bankruptcy in Roseville, California will be roughly the same as it would be anywhere else in the U.S. Chapter 7 bankruptcy involves liquidation of many of the debtor's assets in order to pay off as much of the debt as possible. This sounds harsh, but there is an upside: once the liquidation is complete, the debts are legally viewed as having been paid in full, whether or not the full amount was covered by the liquidation. Liquidation involves selling some personal property, and using the funds to pay off debt. Numerous types of property are exempt from liqudiation, and therefore may not need to be sold. They include homes, cars, and insurance policies, among others. You should know that some types of debt cannot be discharged in Chapter 7 bankruptcy, including taxes, student loans, and child support.

The other popular bankruptcy system in Roseville is Chapter 13 bankruptcy. Under this system, the debtor's debts are restructured, instead of discharged. This involves creating a new repayment plan that the debtor will find manageable, given his or her income, and that will result in the creditors being paid in a decent amount of time. When a repayment plan is authorized by a court, creditors are legally barred from trying to collect under the original terms of their arrangement with the debtor. Chapter 11 bankruptcy is almost always used by businesses, but there is nothing that legally prevents it from being used by individuals, and its use by individuals is very rare. Chapter 11 bankruptcy requires the debtor to come up with a restructuring plan - telling the court how they propose to cut costs, fix their operations, and pay down their debts. The plan has to be approved by a majority vote of participating creditors.

One major advantage of Chapter 11 bankruptcy is that it allows businesses to continue their operations while the process plays out. Moreover, their stock can still be bought and sold.

How Can a Roseville Bankruptcy Lawyer Help?

The need to examine all the options and consider the costs and benefits of applying for bankruptcy in Roseville cannot be overstated. If you are considering filing for bankruptcy, it would be a good idea to speak with a Roseville bankruptcy attorney beforehand.

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Life in Roseville

Roseville, California is located in Placer County in the Sacramento region. With the 11th highest retail sales for the state of California, the city is a major shopping destination. Roseville has been named one of the "Best Places to Live" by CNN Money. It has a growing population of over 118,000 and has ranked on the top 100 list for "America's best small cities".

Retail shopping plays an important role in the economy of Roseville, California. The city is home to a number of major retail centers and one of the largest auto malls in the U.S. Particularly, the Westfield Galleria at Roseville is the central shopping center for the city. The Galleria is a high-end shopping mall with popular retail chains and restaurants. Many other shopping centers are located throughout the city.

In addition to shopping, Roseville is an ideal location for housing, employment, and recreation. The Roseville Theater Arts Academy and the Blue Line Gallery are some favorite spots for entertainment and art-centered events. The city also hosts a number of community events and sports activities for residents. Roseville's Golfland SunSplash is a popular water park that draws many people during the warmer seasons.

Lawyers in Roseville, California practice law in a number of fields and handle many kinds of legal matters. Roseville is close to Sacramento, the state capital of California. Many Roseville lawyers assist their clients at the capital or at the Superior Court Santucci Justice Center Courthouse, located in Roseville.

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