Business and Personal Bankruptcy in San Jose
For many individuals and companies facing insurmountable debt, bankruptcy offers a viable solution. The Law Offices of Gloria A. Florendo assist clients with financial problems to help them determine what type of bankruptcy best suits their needs.
San Jose Personal Bankruptcy
Chapter 7 Bankruptcy - Liquidation or Fresh Start bankruptcy
Many individuals and businesses have the option of filing personal bankruptcy in a Chapter 7 personal or business bankruptcy in San Jose. When the prospects of future income appear inadequate to cover debt, a business or individual may be forced to file Chapter 7. Chapter 7 involves liquidating assets to pay creditors. Companies generally file Chapter 7 when going out of business. On the other hand, individuals often file Chapter 7 when they have few assets and a large amount of unsecured debt. Chapter 7 wipes the slate clean, except for a few types of debt not covered, so it is often referred to as the Fresh Start option.
Chapter 13 Bankruptcy - Wage earner’s bankruptcy
Chapter 13 bankruptcy allows individuals to restructure debt payments and pay off debts while making a regular income. Bankruptcy attorneys help debtors to structure repayment of some or all debts at lower interest rates, and in some cases, to pay only owed principal.
Business Bankruptcy in San Jose
Chapter 11 bankruptcy —Reorganization bankruptcy
Chapter 11 bankruptcies differ from Chapter 7 in that the debtor has stable prospects of future income and just needs time to reorganize finances. This type of bankruptcy buys the debtor time to pay off debt over a three or five-year period. Companies use Chapter 11 as a way to stay in business while managing debt.
Contact Us To Discuss your Personal or Business Bankruptcy
The Law Offices of Gloria A. Florendo, experienced San Jose bankruptcy attorneys encourage you to contact us to discuss your bankruptcy concerns. When you call to schedule an appointment, please provide as much information as possible regarding your financial situation. While this contact does not serve to establish an attorney-client relationship, it allows our legal team to begin an assessment of your case.
Call 408-916-3040 or contact us today to arrange a confidential, no obligation consultation with a skilled bankruptcy attorney in San Jose.
A federally recognized Debt Relief Agency, the Law Offices of Gloria A. Florendo meets federal qualifications, working with individuals and businesses to file for bankruptcy relief under the Federal Bankruptcy Code, which includes Chapter 7, 11, and 13 bankruptcies.