San Mateo Bankruptcy Lawyers
San Mateo, located in the heart of the San Francisco Peninsula, is known for its picturesque scenery, bustling downtown, and proximity to tech giants and other industries that shape our world. With a population of over 105,000 according to the latest Census data, San Mateo is a vibrant center for innovation, commerce, and community life.
However, living in a high-cost area replete with opportunities and challenges can lead many individuals and businesses down a path of debt.
The tech industry is a major component of San Mateo's economy, but it is not immune to fluctuations and layoffs. Job losses in this sector can be particularly devastating given the high cost of living in the Bay Area.
At EH Law Group, we're well aware of the challenges that come with sudden unemployment, especially for individuals who have built their careers in the tech industry. Our firm is dedicated to providing comprehensive support for those affected by job layoffs.
If you’ve found yourself overwhelmed by debt due to a layoff, medical expenses, or any other reason, know you’re not alone; the San Mateo bankruptcy lawyers at EH Law Group are ready to help you find a path toward financial recovery.
Our team understands the multifaceted challenges that financial distress brings. Whether you’re a resident or a small business owner seeking debt solutions, we're here to offer experienced guidance and support. Our skilled bankruptcy attorneys are committed to helping you seek the best possible outcome for your future.
Our San Mateo office number is: (650) 699-5341
San Mateo Bankruptcy Resources:
Why Should I Hire a Bankruptcy Lawyer in San Mateo?
Often, individuals and businesses face financial turmoil due to various reasons such as economic downturns, medical emergencies, or poor financial management. In such events, a bankruptcy lawyer can help navigate the complex legal process, allowing clients to achieve financial relief or restructure their debts without taking on additional burdens.
The entities responsible for your financial distress should be addressed with the assistance of a skilled San Mateo bankruptcy attorney from EH Law Group, who can help you get back on your feet. Contact us before making any financial decisions and ensure you get the appropriate guidance and support.
Possible relief after filing for bankruptcy can include:
Discharge of eligible debts
Protection from creditors' collection efforts
Opportunity to rebuild credit
Retention of essential assets and property
What Are Common Causes of Bankruptcy?
Bankruptcy can be caused by numerous factors, often beyond the control of the individuals or businesses involved. Common causes include:
Medical expenses
Job loss or reduction in income
Excessive debt and poor financial management
Divorce or separation
Unexpected emergencies
Economic downturns affecting businesses
Our bankruptcy lawyers will take the time to thoroughly evaluate your financial situation and any outstanding debts and assets to develop a tailored plan for debt relief and financial recovery. Whether it's pursuing a Chapter 7 bankruptcy for a fresh start or a Chapter 13 bankruptcy to restructure your debts, our team will guide you every step of the way.
What's the Difference Between Chapter 7 and Chapter 13 Bankruptcy?
Understanding the difference between Chapter 7 and Chapter 13 bankruptcy is crucial in determining the right path for financial recovery:
Chapter 7 Bankruptcy: Often referred to as "liquidation bankruptcy," it involves the sale of non-exempt assets to pay off creditors. Suitable for individuals with limited income and significant debt.
Chapter 13 Bankruptcy: Known as "reorganization bankruptcy," it allows individuals to keep their assets and repay debts according to a court-approved plan over three to five years. Suitable for those with a steady income who wish to retain their property.
With our comprehensive knowledge of bankruptcy laws and a proven track record, we strive to provide personalized strategies tailored to meet your specific needs in San Mateo's diverse economic landscape. From dealing with credit card debt and medical bills to foreclosures and business debts, our bankruptcy lawyers at EH Law Group are ready to help you regain control over your finances. Call us today to schedule a time to discuss your case and options.
Get Advice From a San Mateo Attorney
Schedule a ConsultationCan I Keep My Home and Car if I File for Bankruptcy?
One of the most frequent concerns for individuals considering bankruptcy is the potential loss of their home or car. In many cases, you can retain your essential assets through bankruptcy exemptions.
In Chapter 13 bankruptcy, for example, a repayment plan is developed, allowing you to keep your property while you pay off your debts over time.
In Chapter 7 bankruptcy, specific state or federal exemptions can protect your home and car from liquidation.
Our San Mateo bankruptcy lawyers can help you understand which exemptions apply to your case and how to best protect your valuable assets.
How Long Does Bankruptcy Stay on My Credit Report?
The duration that a bankruptcy filing remains on your credit report depends on the type of bankruptcy. A Chapter 7 bankruptcy can stay on your credit report for up to 10 years from the date of filing, while a Chapter 13 bankruptcy typically stays for 7 years.
While this might seem like a huge hit, it’s important to note that your credit can begin to improve shortly after your debts are discharged, especially if you adopt good financial practices. With strategic rebuilding of your credit, many people find they can qualify for loans and credit sooner than anticipated.
What Do I Do After Filing for Bankruptcy in San Mateo?
Navigating life post-bankruptcy requires careful planning and adherence to financial discipline. Here’s a list of steps to take after filing:
Follow the court-approved repayment plan diligently if filing Chapter 13.
Stay current on all new financial obligations.
Take financial education courses to improve money management skills.
Rebuild credit gradually by using secured credit cards and making timely payments.
Schedule a Meeting With Our San Mateo Bankruptcy Lawyers Today
California has its own bankruptcy laws and filing requirements that dictate how and when you can file for bankruptcy and achieve financial relief. Whether you're an individual overwhelmed by medical bills or a business dealing with an economic downturn, the attorneys at EH Law Group can help guide your San Mateo bankruptcy case toward success.
Our bankruptcy attorneys can discuss the exact details and laws that may come into play in your particular case when you request a free consultation.
Our San Mateo office is located right off the intersection of Hwy 92 and 101, serving individuals and businesses in the community and surrounding areas. If you or your business is facing financial difficulties, contact the San Mateo bankruptcy attorneys at EH Law Group to start protecting your financial future. We look forward to working with you!