If you are neck deep in debt and your creditors are continuously contacting you for payment, and there is no way you can afford to pay them, contact Thomas Hogan Law Office Oakland. Our bankruptcy attorneys will review your circumstances and advice you of your options. If there is no viable alternative, our attorneys will suggest bankruptcy. We advise all our clients to consider bankruptcy as the last option. Also not all debts can be discharged through bankruptcy. If your debts are those that cannot be discharged in bankruptcy, filing for bankruptcy will serve no purpose. Here are the answers to some of the most common questions related to bankruptcy law:
- I forgot to include some items in my bankruptcy petition, can I add these debts to my filed petition?
- What constitutes bankruptcy fraud?
- Is my spouse also liable for my debts?
- Which type of bankruptcy filing is better, Chapter 7 or Chapter 13?
Individual debtors usually file for Chapter 7 bankruptcy. If you have no source of income and your financial position is unlikely to improve in the near future, you should seriously consider filing under Chapter 7. Most Chapter 7 filers receive a discharge. The trustee will pay off your debts by selling your assets. You can retain some of your assets. These assets are known as exempt assets. Depending on how you apply the exemptions available to you, you may be able to retain some valuable assets. The Oakland bankruptcy attorneys of Thomas Hogan Law Office have assisted many debtors get a Chapter 7 discharge.
The Bankruptcy Abuse Prevention and Consumer Protection Act makes it much harder for individuals to file for Chapter 7 bankruptcy. Chapter 7 allows debtors to wipe out their obligations after forfeiting their non-exempt assets. Bankruptcy courts previously had broad discretion to decide who can file for it or for Chapter 13 which has much less generous terms. The Act has introduced a means test in place of the judicial discretion. When you contact Thomas Hogan Law Office for Chapter 7 filing, our Oakland office bankruptcy attorneys will first determine if you qualify for filing a Chapter 7 under the Means Test.
Chapter 13 is best suited if you have a regular source of income. A Chapter 13 proceeding can only be filed by individual debtors. To be eligible for filing under Chapter 13 of the bankruptcy code, you must be an employee, self employed or operating an unincorporated business. Chapter 13 is also referred to as the wage earner’s plan. You must demonstrate that you have sufficient income after deducting certain slowed expenses to meet the repayment obligations under the Chapter 13 plan. The bankruptcy attorneys in our Oakland location can assist you file a Chapter 13 petition and help you prepare a payment plan that will be approved by the bankruptcy court. If you have a source of income, you should consider filing under Chapter 13 whereas if you do not have a source of income, you should file for bankruptcy protection under Chapter 7.
In a debt settlement, you attempt to settle the debt for less than the full amount of debt. If you want to enter into a debt settlement with the debt collector, you must request a meeting with the debt collector. During the meeting explain to the debt collector your present financial position and the other debts that you have to pay. Follow up this meeting with a letter and make an offer of what you think is the best you can pay for the debt. You should keep in mind that debt collector will not generally accept the very first offer you make. You should be ready to increase it slightly. Be prepared for a long negotiation. If the debt collector accepts your offer, you should get it in writing. You must ensure that the debt collector accepts your offer as full and final settlement of the debt. When you make the payment, make sure you keep a record of the payment. Our Oakland bankruptcy attorneys are experienced in settling debts and assist you accordingly throughout the process.
Testimonials for Thomas Hogan Law Office Oakland
By Trex N.:
“Appreciate how you kept me updated with all legal matters about the case which ended up in such a good timing.“
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I was in a difficult situation and needed a reputable and trustworthy lawyer to represent me in court against a government agency. I am glad I made an appointment to meet Tom Hogan in his office. The entire office staff is very courteous and professional. Tom Hogan is very likeable, he has a good sense of humor, and my anxiety went away after talking to him for a few minutes. He listened intently on what I had to say and gathered information by asking me several questions pertaining to my case. He has great attention to details. I was able to understand better my predicament after he explained the situation I am in so I decided on day 1 that he is the lawyer I am looking for. He showed up on all my court dates and stood for me against seemingly insurmountable odds. For those who are summoned to appear in court by the government, I guess you can relate… you are in between a hard place and a rock. His arguments turned around the case in my favor. The last court appearance went like a blur and I was still in disbelief as we are walking out of the court house. I asked him, what is going on? He responded ” We won. They are not going to bother you anymore.”Joe Stockton
Mr. Hogan took a personal interest in helping me with my legal issue. It was refreshing to find a lawyer that did not treat you like a number. He asked all the necessary questions so that he could properly represent me. He obviously has a lot of experience and it showed in how he handled my case. I would definitely recommend Mr. Hogan to any of my friends for legal assistance.Al M. Modesto
When I decided to get married he established my pre-nup. Since I had no idea how or what to put into it he was able to advise me on thing I would have never thought about. then 8 years later I needed a legal separation. Since the pre-nup was very detailed it made the legal separation quick and easy. Tom is very knowledgeable and is very understanding. I appreciate that he is tough when he needs to be but at the same time sensitive to the situation. He won’t just tell you what you want to hear but is honest and tell you how the law looks at things. I recommend Tom to anyone that needs a lawyer!Jeri E. Modesto
Mr. Hogan and his staff were a pleasure to work with. I consulted with them regarding a potential IRS tax issue. They answered all my questions gave me invaluable advise. I am sleeping much better at night since my stress has been diminished. Thank you Mr. Hogan.Evelyn M. Modesto
If you need an attorney with a keen understanding of financial matters, look no further than Tom Hogan. Mr. Hogan deserves the gold star for his accomplishments as an attorney and CPA. I never expected to ever find an attorney as competent, caring and driven as Mr. Hogan. As soon as Tom took on my case, he was determined to help me. He immediately plowed through the reams of documents pertaining to my case, financial and legal, and honed in on the critical pieces.Roberta C. Modesto
We care about our clients and are dedicated to addressing their legal issues to the best of our ability.Tom Hogan Founder