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Bankruptcy’s Fresh Start

Liviakis Law Firm Team

Filing bankruptcy can be an emotional decision. No one likes to admit that they lost control of their finances. Often to no fault of our own, we have lost the ability to keep up with our payments. Reasons can be:

  • Loss of a job
  • Lay off or cut back in hours
  • Unexpected medical bills
  • Death or divorce of the primary financial provider
  • Illness

Fortunately for debtors with no options of catching up on all their debt, bankruptcy is a legal way to eliminate all qualifying debt. The bankruptcy process can give you a fresh start, a financial do-over so you can stay on top of your obligations.

Chapter 7

A Chapter 7 bankruptcy is usually for those with a large amount of unsecured debt, like credit cards and medical debt. Chapter 7 discharges the unsecured debt in three to six months. This type of bankruptcy is usually the fastest and most common.

Chapter 13

A Chapter 13 bankruptcy is for those with debt that has collateral, a secured debt like a home or vehicle. This type of bankruptcy allows you to catch up on your late and missed payments over three to five years. You will need to continue to make your home and car payments if you wish to keep using the collateral. At the end of your court-approved payment plan, any remaining eligible unsecured debt will be eliminated.

Non-Dischargeable

Some debt is non-dischargeable no matter what type of bankruptcy you file. Alimony, child support, current taxes, and court-ordered restitution and fees will not be discharged. It is also tough to get student loans discharged in bankruptcy.

If you would like more information on how to get a fresh start, contact a Citrus Heights bankruptcy attorney.

Our Office

Former Office
1215 K St

Sacramento, CA 95814

Phone: 916 459 2364
New Office
2377 Gold Meadow Way
#100

Gold River, CA 95670

Phone: 916 459 2364

Client Reviews

Mr. Liviakis is extremely knowledgeable and answered all of the questions that we had about our situation. He made a really difficult time manageable with his help and expertise. I would definitely recommend...

Lindsey Joyner

Mik is a great attorney. Very friendly & professional. Price is was bit high compared to other firms. Probably the highest I've seen. If price your thing, checkout other firms. Other than that, Mik will get the...

Oi Vinn

Mik helped us save our home and settle with creditors during the pandemic after we were forced to close our family business for over a year. I am forever grateful. He was kind and professional and followed up...

Jina and Steven Hale

Mr. Liviakis was timely and professional. He patiently answered questions and explained the process. He provided handouts that clearly outlined due dates. The firm's paralegal was very easy to work with. I...

Wes Pohl

I nothing but great Experiences, and great service.

Tony Boone

Positive: Professionalism, Quality, Responsiveness, Value

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