Pre-Bankruptcy Concerns

Pre-Bankruptcy Concerns

The Liviakis Law Firm helps individuals, families and businesses understand their options for resolving debt problems, particularly the associated benefits and disadvantages. Filing for bankruptcy, for example, stops creditor harassment and pending legal actions such as foreclosure proceedings and wage garnishment. You may have some concerns about what filing for bankruptcy means, however, in terms of the effect it will have on your short-term credit.

To discuss these pre-bankruptcy concerns, contact me today for a free initial consultation.

Explaining What You Need To Know About Bankruptcy

Working with a qualified, experienced bankruptcy lawyer who has knowledge of bankruptcy laws may prevent costly and time-consuming oversights, and is likely to lead to a better outcome. I will guide you through the process, answering each of your questions thoroughly and ensuring that bankruptcy is the best option for your individual situation.

In Chapter 7 bankruptcy, the trustee liquidates nonexempt assets and pay portions of secured and possibly unsecured debt according to a prioritization schedule of creditors established by the court. Chapter 13 bankruptcy, on the other hand, provides the opportunity to create a plan that repays debt in manageable monthly payments over three to five years.


Chapter 11 bankruptcy provides a similar repayment opportunity for small businesses that protects against creditor collection actions. Chapter 12 bankruptcy operates in much the same way, but is specifically intended to assist farmers and vineyard owners.


At the beginning of the process, a petition and schedules listing all of your assets and debts to each creditor are filed with the bankruptcy court. You will be required to attend a creditors meeting with a bankruptcy trustee assigned by the court so that the trustee may confirm the information provided. Your creditors are also invited to this meeting, but are not often present.

Learn About Bankruptcy Options With a Sacramento Attorney

To discuss what you need to know about bankruptcy prior to filing, contact our office for a free initial consultation. I represent clients in communities throughout Sacramento County, El Dorado County and Placer County, California. My offices are located in Folsom and Sacramento.

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    Client Testimonial

    Wonderful Bankruptcy Attorney!

    I retained Mr. Liviakis after a very bad experience with another lawyer who basically abandoned my case. Mr. Liviakis was thorough in his analysis of the law and the facts of the case and very prompt in responding to all of my questions. His professional handling of the case gave me confidence that the matter would be done right.

    Professional and Talented Attorney

    Very professional and talented bankruptcy attorney. He helped me though a very difficult situation. I recommend Liviakis to others in the community of Sacramento. Liviakis took time to answer all of the bankruptcy questions that I had. My case turned out very well. It was an easy experience and no stress at all.

    They Truly Cared

    After interviewing several lawyers, I decided to use Miki. Miki and his staff were knowledgeable and helpful throughout the process. They kept me informed every step of the way and made me feel like they “cared”. I have worked with a number of attorneys over the past 25 years and Miki is someone whom you can trust.

    Definitely Recommend

    I would definitely recommend Atty. Liviakis to anyone that I know that needs help to sort out their financial problem. Very easy to talk to and always prompt when I have questions. Chapter 11 Client

    Mikalah was the most informed and knowledgeable proffesional i have ever had the privilege to work with.not only did he handle our case succesfully,he treated us with dignity and respect in a very tough time. I highly recomend this attorney he is a man with integrity,a true professional.

    Chapter 7 Client

    Liviakis Law Firm was professional and empathetic to my situation. I felt that I could discuss my situation without judgment or feeling shame. I appreciated the quick communication and professional demeanor of all staff.