California Debt Relief Lawyers
Attorneys practicing in Debt Relief Debt Relief Case Evaluation Contact the law offices of New Horizon & Associates LLP
Debt Relief Practice Areas
Foreclosure Defense
Short Sale Deed in Lieu
Loan Modification
Bankruptcy
Chapter 13
Chapter 7
Loan Audits
Foreclosure Loans

Southern California Chapter 7 Bankruptcy Lawyer

Helping Debtors in Ventura, San Bernardino and Los Angeles File Chapter 7 Bankruptcy Cases

It is an unfortunate truth that even honest, hardworking people may find themselves in situations where they are facing mounting debt, foreclosure, and no place to turn. When you and your family are drowning in debt and you feel that there is nothing you can do, you may be able to file for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code. Filing for bankruptcy will automatically put an end to creditor harassment, wage garnishment and repossession and can give you the breathing room needed to move toward a better financial future.

 You can get a fresh start by filing for bankruptcy, but how Chapter 7 bankruptcy will affect you will vary depending on your exact financial situation as well as your goals for the future. At the Law Offices of John Ribarich, we are committed to helping clients make the right choices about bankruptcy. We know this is an important decision to make, and we can offer you the advice, guidance and information that will be invaluable in assisting you to make the decision that is best for you and your family.

How Does Chapter 7 Work?

In filing for bankruptcy under Chapter 7 of the Bankruptcy Code, a debtor's non-exempt assets will essentially be "liquidated" in order to pay off debt. However, this is one area of Chapter 7 bankruptcy that is often misunderstood. The typical debtor who files for bankruptcy will keep most of his or her property, including clothing and other personal property. A certain amount of equity in a house may even be protected. Whatever assets are not protected will be surrendered to the bankruptcy court, where they will be sold to pay off a portion of the person's debt. When the case is successfully resolved, all eligible debt will be discharged.

Chapter 7 bankruptcy may be able to offer you and your family the fresh start you need. To learn more about your options in this regard, contact a bankruptcy lawyer at our law firm today. We help clients throughout Los Angeles, Ventura, San Bernardino and the surrounding areas in Southern California.





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Address: 15223 Burbank Blvd.    Sherman Oaks, CA 91411    Phone: (877) 306-6343

Further Disclaimer: By now, you may have made your own attempts at loan modification. You now know what we have known: Despite all the government and media hype, the voluntary loan modifications are not the silver bullet to the foreclosure crisis. Even after President Obama introduced the HAMP program, only about 8% of the anticipated 9 million loan modification applications have been considered. Never forget that lenders and loan servicers are in the business of making money for their shareholders, not solving people’s financial problems. Despite the incentives created by the government, loan servicers remain inconsistent, negligent, understaffed, arrogant and just plain indifferent to the financial plight of most folks. If you’ve ever wondered why the bank doesn’t seem to care? Consider that it is the investor, not loan servicer, takes the financial hit when a property is foreclosed. Loan servicers make more money when a borrower falls into foreclosure. Servicers have an incentive to drag out the foreclosure and loan modification process. Despite what the government and the lenders may say, the loan modification or short sale process is not as quick and easy as has been portrayed.

VIOLATIONS CAN GIVE YOU LEVERAGE to secure a “SETTLEMENT”, not a LOAN MODIFICATION.

Whether hiring a lawyer will increase your chances for success a little or a lot depends on whether the lender has done something wrong. This is why Attorney Ribarich encourages every client to commission an audit of the original loan documents, review the appraisal and take measure of any agency relationships between the broker, the lender, the appraiser, the escrow and the title companies. Anecdotally, Attorney Ribarich believes that your chances of success increase fourfold if there is litigation or bankruptcy. Hiring a lawyer to review your options and handle the process makes sense. Your chances of obtaining a substantial loan modification will be greatly improved if the lender has violated the law…but how will you ever know? A lawyer can help you gain negotiating leverage on your behalf by finding violations of the law or capitalizing on provisions of the bankruptcy code.