Complete Solutions

What we do

Everyone’s situation is different. We know the ins and outs of all aspects of consumer bankruptcy law. No matter how simple or complex your situation might be, we can handle it and we will make sure you can afford it.

Chapter 7 Bankruptcy

Chapter 7 is the most common form of bankruptcy which allows an individual or married couple quickly discharge their debts, usually within 4 to 6 months. In most cases, careful planning will allow someone to keep their property and not be forced to pay back any creditors. Although Chapter 7 tends to be the most preferred type of bankruptcy, it is not always the best option and not everyone is eligible to file a Chapter 7.

Business Bankruptcy

Businesses can file under Chapters 7, 11, and a new form of Chapter 11 bankruptcy created in early-2020 referred to as Sub-chapter V. Chapter 13 may also be available in some cases where an individual is reorganizing business debts. Depending on the size and complexity of your business and whether you intend to continue operating, you may be able to liquidate or reorganize under these chapters.

Complex Bankruptcy Issues

Some bankruptcies can get much more complex when contentious issues arise. These issues can include prosecuting and defending from the trustee, creditors, the US Trustee, non-dischargeability complaints, objection to discharge, objections to exemptions, and more. These cases require extensive knowledge of bankruptcy law and the overlap between bankruptcy and other areas of the law.

Chapter 13 Bankruptcy

Chapter 13 involves monthly payments over a period of time, usually from 3 to 5 years. Chapter 13 may be your best option if you are trying to avoid foreclosure or repossession by getting caught up on your mortgage or auto payments, strip a second mortgage, or pay back taxes or other non-dischargeable debt. Chapter 13 is also for people whose income is too high to qualify for Chapter 7 or who would lose property in a Chapter 7.

Chapter 7 Bankruptcy

We at Nexus Bankruptcy are here to help you file bankruptcy under Chapter 7
and get a fresh start.

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is the most common chapter to file under as it usually results in the discharge of most or all debts with cases lasting between 4 to 6 months while retaining all of your property through the use of exemptions. Chapter 7 bankruptcy is also sometime referred to as “liquidation bankruptcy” since, unlike Chapter 13, it does come with the risk of losing property. Through careful and creative use of exemptions and pre-bankruptcy planning, this risk can be mitigated.

Who Is It For?

The primary considerations in a Chapter 7 are: income, assets, the nature of your debts, and whether you have previously received a discharge. If your income is low enough, you would not loose any assets, and a Chapter 7 will solve your debt problems, then Chapter 7 is probably your best option.

Navigating The Complexities Of Chapter 7

How We Can Help

The laws of bankruptcy are not just what's inthe Bankruptcy Code, but also involve other Federal laws, State law, and considerations of the law in other jurisdictions. There are many lesser-known aspects of bankruptcy that should be considered in every case, no matter how simple or complex your situation might seem. Nexus Bankruptcy has offices in Orange County and Riverside County. Contact us today and be one step closer to the next chapter of your life.

Bankruptcy Can Get Complex...

Ways We Can Help

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Timeline to Discharge

Consultation

At your initial consultation, we will discuss the specifics of your financial situation. If bankruptcy is your best option, we will clearly explain your options and the process. We will also quote you a fee for our services and make sure that it is something affordable within your budget.

Preparing the Petition

Once we have most of the information we need, we will begin the process of preparing your petition. A bankruptcy petition is around 50-70 pages of required disclosures of your debts, assets, and other details of your current and historical financial situation.

Planning

Sometime it makes sense to plan ahead to file sometime in the near future. This could be to avoid the loss of property, maximize exemptions, or to pass the Means Test. If you are in this situation, we will assist you along the way to ensure that the proper steps are taken.

Filing

Once your petition is completed and you are in a position to maximize the success of your bankruptcy case, we will file the petition with the court. We will immediately receive judge and trustee assignments and hearing dates.
Once your case is filed, all of your creditors are stayed from taking any actions against you including wage garnishments, bank levies, and furthering court proceedings.

Trustee Communications

Shortly after filing your case, the trustee assigned to your case will be requesting certain documents and information. Common requests include tax returns, bank statements, mortgage statements. We will make sure that everything is timely provided to the trustee. We will also know which documents the trustee has not requested but would be helpful to your case, and we will provide those as well.

Meeting of Creditors

At your Meeting of Creditors, also called the 341(a) Hearing, you will be meeting with the trustee who will be asking you a few questions about your financial situation. We will be with you at this hearing and will be able to assist with legal and procedural issues. This hearing usually goes by fairly quickly and easily.

60-Deadline for Objections

Creditors have until 60 days after your Meeting of Creditors to file a complaint asking that a debt be determined to be non-dischargeable or that your discharge be denied entirely. The grounds upon which these can be based are very narrow. These cases are very rare and we will usually know if that is something to be concerned about.

Discharge!

Once that 60-day deadline passes, you are entitled to receive your discharge. Usually discharges are entered within a week of that deadline. If there are no other pending issues, your case will usually close within a few days of receiving the discharge.

Other Issues

Here are some of the more common issues that we see in bankruptcy cases.

The Means Test

The Means Test is a pre-requesite to filing a Chapter 7 bankruptcy which is based on your household income. For some, this is a relatively simple test to pass. For others, it can get very complex.


The Means Test is also used in Chapter 13 bankruptcy as a factor in determining your plan payment amount.

Avoiding Liens on Property

In a Chapter 7 bankruptcy, you have the option keep or surrender a vehicle. For a financed vehicle, your options are reaffirmatIf you have already been sued, your creditors might have already attached judgments against your property. A Chapter 7 bankruptcy can remove those liens from your property and discharge the debt.ion, ride-through, surrender, or redemption. For a vehicle that is leased, you can assume or reject the lease.

Ending Creditor Harassment

Once you’ve retained our office, we can stop the creditor harassment even before your case is filed. Once your case is pending or after discharge, creditors can face severe penalties for instituting any type of collection activity, including phone calls, past due notices, filing lawsuits, bank account levies, and wage garnishments

Discharging Taxes

Contrary to what many people believe, it is actually possible to discharge many tax debts. The general rule is that if a tax debt was due more than 3 years ago, then it might be possible to discharge that debt. However, other factors can complicate this and potentially require strategically approaching your case in order to maximizing your discharge.

Keeping Your Property

Chapter 7, also sometimes referred to as “liquidation bankruptcy”, can come with a risk that some of your property could be taken by the trustee and used to pay off a portion of your debts. By maximizing exemptions, pre-bankruptcy planning, and an expertly drafted petition, this risk can be greatly reduced.

Chapter 13 Plan Options

The debtor has complete control of how to structure their Chapter 13 plan, so long as it complies with all relevant provisions of the Bankruptcy Code. For every case, we will put together several different plan options and help you decide which is best for your particular situation.

Family Law Issues

Bankruptcy often involves family law issues including divorce, divorce debts, child or spousal support, and California community property law. These issues require a wealth of knowledge of how bankruptcy and family law overlap.

Keeping or Surrendering Vehicles

In a Chapter 7 bankruptcy, you have the option keep or surrender a vehicle. For a financed vehicle, your options are reaffirmation, ride-through, surrender, or redemption. For a vehicle that is leased, you can assume or reject the lease.

Modifying a Chapter 13 Plan

At the onset of a Chapter 13 case, your plan will be “confirmed” and the order will lay out exactly what your payments will be for the remaining term of your plan. However, life happens and we can help modify your plan so that your case does not fail. This can involve skipping or reducing payments, increasing or reducing the term of your plan, or other modifications to ensure your succecss.

Student Loan Analysis

While it is true that most student loans are non-dischargeable, some can actually be discharged. There are two situations where this is possible: 1) when repaying the loan would cause an “undue hardship”, or 2) if the student loan does not qualify as a non-dischargeable student loan. Regardless of whether your loans are dischargeable, our attorneys can assist you with understanding what your student loan options are.

Stopping Foreclosure

Either a Chapter 7 or 13 bankruptcy will stop a foreclosure once the case is filed which imposes a stay against your creditors. In a Chapter 7, this might only be temporary, but it can allow you some breathing room to allow you to pursue your options. In a Chapter 13, you can catch up on your mortgage through monthly payments over a period of up to 5 years.

Adversary Proceedings

An adversary proceeding is a separate lawsuit filed in conjunction with a bankruptcy case. There are many types of adversary proceedings that can be filed by creditors, the trustee, the US Trustee, or the debtor.

Non-Dischargeability Actions

The most common type of adversary proceeding is one for a determination of non-dischargeability of a debt. There only limited grounds upon which a debt can be non-discharged, the most common are fraud, marital/divorce/support debts, and willful 

Trustee Turnover "Claw Back" Actions

If the trustee wants to have property forcibly turned over to them, they might be required to file an action asking the court to issue such an order.

Objections to Discharge

Unlike an action regarding dischargeability where a creditor is seeking to have a single debt excepted from discharge, an objection to discharge could result in your entire discharge being denied or revoked.

Fraudulent Transfers

A fraudulent transfer is where property is transferred prior to a bankruptcy being filed in a manner suggesting that it may have been done to keep property out of the hands of creditors or the bankruptcy trustee. The look-back period is either 2 or 4 years, depending on the circumstances of the transfer and your financial situation at the time of the transfer.

Preferential Transfers

A preferential transfer or payment is where a creditor is paid prior to a bankruptcy case being filed. Depending on the amount and nature of the debt, the trustee may be able to recover that payment or property from the creditor.

Appeals

Appeals are when a party seeks to have a higher court make a determination of whether the bankruptcy judge’s decision in a case was proper. These cases can make their way up to the district court, bankruptcy appellate panel, circuit court, or United States Supreme Court.