Bankruptcy

Riverside Business & Consumer Bankruptcy Attorney

The new bankruptcy laws went into effect in October of 2005. Although the new law does make filing bankruptcy a more involved process, the option is still a viable one and available for many who are experiencing overwhelming debt. At Winfield Payne & Associates, we provided experienced help to individuals and businesses who need relief from their debts.

Are you interested in speaking with a lawyer regarding consumer bankruptcy or business bankruptcy? Please contact attorney Winfield Payne today to arrange a free consultation. Since 1979, Mr. Payne has provided hands-on legal representation by personally preparing and filing all bankruptcy documents.

Comprehensive Bankruptcy Help

At your initial consultation, Mr. Payne can discuss with you your options and the advisability of chapter selection.

• Chapter 7 Bankruptcy: Under the new bankruptcy law, individuals are required to undergo a "means test" to determine eligibility for Chapter 7 Bankruptcy. The means test will consider the state's median income relative to your current monthly income. Chapter 7 Bankruptcy is debt liquidation. The bankruptcy trustee will gather, liquidate, and distribute nonexempt property.
• Chapter 11 Bankruptcy: Businesses, partnerships, and corporations can file Chapter 11 Bankruptcy. Similar to Chapter 13, Chapter 11 is a reorganization of debt.
• Chapter 13 Bankruptcy: For those who are not eligible for Chapter 7, Chapter 13 is an option. Chapter 13 is a reorganization of debt that allows a consumer to get current on payments including mortgage payments and car payments.

Although the new bankruptcy law has presented some obstacles, it is still possible to file successfully and start anew on your finances. Please contact Winfield Payne & Associates to learn how we can help you.