Chapter 7

Chapter 7, 11, and 13 Bankruptcy Attorneys

At McQueen & Ashman LLP, we represent creditors in Chapter 7, 11 and 13 bankruptcy cases. Our attorneys are committed to helping secured and unsecured creditors maximize their recovery in bankruptcy proceedings in the most cost-effective manner possible. This involves being active to ensure that any assets transferred pre-bankruptcy are recovered for the benefit of the creditors and that the debtor is not allowed to waste its available assets.

We also have extensive experience defending businesses in adversary actions filed in bankruptcy cases, including preference and fraudulent transfer actions.

From our offices in Irvine, California, we also help debtors throughout Southern California achieve debt relief through Chapter 7, 11 and 13 bankruptcies. If your business is struggling to pay its bills, is being sued by creditors or you have large amounts of past due debt, please contact our office and arrange a consultation today.

Chapter 7 Bankruptcy

At McQueen & Ashman LLP, we understand your need to rid yourself of financial burdens and get a fresh start. Filing for Chapter 7 bankruptcy can help you do just that. Our lawyers will review your financial situation and determine if you qualify to file for bankruptcy under Chapter 7.

Many of our clients are worried about losing their houses, cars and other assets after filing Chapter 7 bankruptcy relief. California allows you keep some of these assets through exemptions or by reaffirming the debt. Our attorneys will explain this process, maximize your exemptions and/or help reaffirm the debt as necessary so you can keep your most prized assets if and when possible.

Chapter 11 Bankruptcy

Our attorneys have extensive experience representing both secured and unsecured creditors in Chapter 11 bankruptcy proceedings. This includes moving for relief from stay to enforce liens against a creditors’ collateral or to allow a lawsuit to move forward against the debtor. We also represent unsecured creditors and creditors committed to maximizing their recovery under any proposed plan of reorganization. The best results for creditors are achieved by being active and aggressive once a bankruptcy proceeding has been commenced.

Our attorneys also have experience representing businesses and helping them with debt reorganization. Sometimes debt can be restructured with creditors without the need for filing Chapter 11 bankruptcy. In Chapter 11 bankruptcy, debt is analyzed and agreements are made with creditors to reorganize the debts into more affordable payments as part of a consensual plan of reorganization. The business is allowed to keep their assets and is given a chance to bounce back from financial difficulty. If a consensual plan of reorganization is not possible, under certain circumstances, the creditors’ claims can be reduced or eliminated as necessary to reorganize the business.

Chapter 13 Bankruptcy

In October of 2005, sweeping changes occurred to the federal bankruptcy laws. Among other things, these changes made it more difficult for some people to qualify for Chapter 7 bankruptcy relief. Even if you do not qualify for Chapter 7 under the more restrictive criteria, you may still qualify for Chapter 13 protection. Chapter 13 bankruptcy is commonly known as either “debt repayment” or the “wage-earner plan.” Basically, under Chapter 13, a plan is put into place for you to pay down your debt over a period of three to five years. This differs from debt consolidation plans in that it is under the supervision of the bankruptcy court and involves negotiating lower interest rates or forgiveness of a portion of your debt with the creditors themselves.

If you are a creditor, we will help you maximize your recovery by aggressively asserting your rights in the debtor’s Chapter 13 bankruptcy case.

Contact Our Offices Today

To arrange a consultation with one our experienced Chapter 7, 11 and 13 bankruptcy attorneys, contact our office in Irvine, California, at 949-223-9601 and ask for attorney Phillip Ashman, or complete our contact form.