Bankruptcy

California Lawyers Helping You Make a Fresh Start

Tough economic times have had a grave impact on many individuals, families and small businesses. Debts owed to credit card and mortgage companies can become overwhelming. If you or your business has fallen behind and can't seem to catch up, filing for bankruptcy may be your best option for relief.

Bankruptcy Can Give You a New Beginning.
Call 951-686-4800 or toll free at 866-748-8753 or E-mail Wagner & Pelayes to Put the Process in Motion.

When you choose Wagner & Pelayes, LLP, Attorneys & Counselors at Law as your debt relief agency, you are employing an experienced Riverside area legal team. Lawyers at our firm have the knowledge and skill to help you with debt reorganization that suits your business or personal needs. Let us guide you down the road to financial freedom.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy, commonly known as liquidation, is an option for individuals, families or businesses who have found themselves unable to pay their debts. Eligibility for Chapter 7 is determined by a means tests. This test measures the amount debt against income potential.

In Chapter 7, assets may be liquidated to cover outstanding debt. Any remaining dischargeable debt will be eliminated.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is designed for wage earners who are not eligible for Chapter 7. Chapter 13 bankruptcy is often an option for halting foreclosure proceedings on your home. Upon filing, an automatic stay is put into place, stopping all collections actions.

In Chapter 13, a court-approved payment plan is developed to assist you in paying your creditors. The plan typically lasts three to five years. Following successful completion, remaining non-exempt debts will be discharged.

Please call 951-686-4800 or toll free at 866-748-8753 or e-mail Wagner & Pelayes, LLP, Attorneys & Counselors at Law, to discuss your debt relief options. Our offices are conveniently located near the Riverside Justice Center and the San Bernardino Superior Courthouse.