December 10, 2010

Chapter 9 Bankruptcy Overview

A Sacramento bankruptcy attorney writes about Chapter 9 bankruptcies.

Chapter 9 bankruptcy is the part of US Bankruptcy code that deals with municipalities and the help that they need in restructuring their debts. In 1934, bankruptcy in the United States was afforded to municipalities, mainly due to the Great Depression. Before that time, when a city or town was faced with debt they had to raise taxes in order to get the money.

One major part of Chapter 9 bankruptcy is collective bargaining. One advantage of this is that it gives municipalities the ability to negotiate on their own terms without any trustees or other help. It also gives them the ability to rewrite previous bargains that they had previously.

There have been some famous Chapter 9 cases in the US with some of those being Orange County, California back in 1994, Desert Hot Springs, California back in 2004, Vallejo, California in 2008, and Washington Park, Illinois back in 2009.

We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, discharging a debt, asset protection, etc. If you need help regarding a bankruptcy in Sacramento, call us at 916.792.6025 or and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Bankruptcy Law Firm office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.

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November 22, 2010

Municipality Reorganization

A Sacramento bankruptcy attorney defines Chapter 9 municipality bankruptcies and reorganization.

The process of municipality reorganization can be difficult. There are many municipalities who end up struggling due to the fact that so many businesses out there end up closing. If you happen to be a mayor and the small businesses in your town begin to thrive, then you certainly would not have to worry about municipality reorganization. A city attorney should be able to help a city through the Chapter 9 bankruptcy process. You have to want to write a business plan that can be like a municipality reorganization. Many people think of an individual filing bankruptcy and a corporation filing bankruptcy, but they do not think of a city doing so.

The truth of the matter is that one of the most famous cities in the world, that being New York City has even had to file bankruptcy in the past. New York City continues to grow and largely thrive from a revenue standpoint today, so this is proof that the chapter 9 bankruptcy process can work. A city should be allowed to protect itself from their creditors in the face of tragedy. A city may have also elected people to office who did the budgeting process in such a negative way that it was borderline criminal.

If you would like more information on this topic or other bankruptcy topics, please contact our Sacramento office at 916.792.6025 or . We at Bankruptcy Law Firm can connect you with one our our experienced Sacramento bankruptcy attorneys. We have bankruptcy attorneys located throughout California and Oregon to assist you with your bankruptcy questions. If you need assistance regarding a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! Please contact us to receive a free consultation or visit our website at www.sagarialaw.com to request an in-person consultation with an experienced bankruptcy attorney. We have an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting Sacramento.

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October 29, 2010

What is a Chapter 9 Bankruptcy?

A Sacramento bankruptcy attorney defines Chapter 9 bankruptcies.

A Chapter 9 Bankruptcy is a formal proceeding that allows municipalities to get relief from their financial debts. It is a way to provide help to the municipal debtors and creditors. A municipality can be towns, cities and counties. This is a way for the municipality to get their debt under control so the whole municipal will not feel the loss. Chapter 9 bankruptcy law is designed for reorganization not liquidation.

There are many reason why a municipal might need to file a Chapter 9. It can happen because of poor budgeting or a terrible tragedy. Most of the time, the problems that a municipality face will have a direct affect on it's people living there. Chapter 9 Bankruptcy Law allows a failing community to reorganize their debt and get back on their feet.

The reorganization process starts with a petition being filed with the court. Along with the petition is a list of all debtor's creditors. During this time, lawsuits and all collection activity must be stopped, also known as an automatic stay. Chapter 9 Bankruptcy law allows the debts to be repaid according to a court set repayment plan.

If you would like more information on this topic or other bankruptcy topics, please contact our Sacramento office at 916.792.6025 or . We at Bankruptcy Law Firm can connect you with one our our experienced Sacramento bankruptcy attorneys. We have bankruptcy attorneys located throughout California and Oregon to assist you with your bankruptcy questions. If you need assistance regarding a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! Please contact us to receive a free consultation or visit our website at www.sagarialaw.com to request an in-person consultation with an experienced bankruptcy attorney. We have an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting Sacramento.

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100% Money-Back Guarantee from Sagaria Law

If the courts do not accept your bankruptcy filing because of an error on our part, we will refund 100% of your money, including the filing fee!

At Sagaria Law, PC we want to guide you on the path to financial freedom and realize this is not an easy task for most. We respect your devotion to better your circumstances even with financial hardship and thus are willing to guarantee that if you retain us, we will do everything we can, legally and ethically, to help you become debt-free.

The Fine Print

The Sagaria law guarantee covers everything that a bankruptcy law firm produces in order to successfully complete a bankruptcy filing. We guarantee that it will be done in a manner that is accepted for filing with the bankruptcy clerk's office.

There may be reasons beyond our control that may cause a case to be dismissed. Therefore, the 100% Money-Back Guarantee does not guarantee;

  1. That you will receive a discharge.
  2. That you will receive a discharge of all debts or of any particular debt.
  3. That your case won't be dismissed for reasons not related to the paperwork being accepted for filing.
  4. That you, our client, will successfully complete all of your obligations including accurate disclosure of debts, completing your forms on time and attending your 341 meeting as scheduled.
  5. That you will not lose assets in chapter 7, or that creditors won't successfully argue for the repossession of collateral in chapter 13.
  6. That you will not encounter challenges of any kind to your bankruptcy case.

Take advantage of this offer. Get started now by completing your FREE online bankruptcy evaluation, accessible from our home page.

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