"During our initial meeting we immediately felt confident that Mr. Banks was honest and had integrity.  Now we have a strong respect and appreciation for the services a lawyer provides.  We are overjoyed that everything went so smoothly.   We feel very blessed now -- like a huge bolder has been lifted off our chests.  We wake up each day with a smile. We would say that Mr. Banks is a man of integrity, who will help you from beginning to end.  Mr. Banks is a true professional.  We thank you from the bottom of our hearts for helping us get our lives back.  You truly made this process stress free.  We look forward to each day now, free from money worries and all those nasty calls.  You were instrumental in solving our enormous problems. You are our HERO!"                      Mr. and Mrs. D., Fresno

"Because of the recession, we just kept getting into a financial whirlwind, with nowhere to go. From day one, Rick and his staff took over our financial mess and with great kindness and efficiency, got us started on the right path once again. We will be eternally grateful to them. "                      Mr. and Mrs. L., Fresno

FRESNO BANKRUPTCY LAWYER AND ATTORNEY

Bankruptcy law is a federal law based on the policy of giving honest people a fresh start by eliminating most of their debt or by allowing them to repay their debt over an extended period of time.

The Law Office of Rick D. Banks can provide several options to offer clients who are in need of debt relief.

Our rates are competitive, and an uncontested no-asset Chapter 7 bankruptcy can be filed for as little as a $1,250 fee. If you don't have the full fee right now, call us to discuss prioritizing your payments.

For people who have no significant assets and primarily unsecured debt, Chapter 7 "Fresh Start" bankruptcy is most desirable.

For people who do have significant assets and would like to retain those assets, Chapter 13 "Bill Consolidation" would be most desirable.

In either case, Chapter 7 and Chapter 13 both eliminate:

Advantages of Filing Bankruptcy

Here are some of the advantages you may be entitled to receive depending on the type of bankruptcy you file:

The U.S. Bankruptcy Code can deliver protection to people who are suffering under mountains of debt or facing foreclosure or repossession.

Bankruptcy laws were created to provide relief to those who have been financially hurt by divorce, job loss, identity theft, medical bills, disability or other financial turmoil. Usually, however, a combination of unfortunate events contributes to significant financial woes. Some seemingly manageable credit card debt can become insurmountable when combined with a job loss. So, stop blaming yourself for your situation and take control of it.

Chapter 7 is a viable option for both individuals and businesses that are in need of a fresh start.  A Chapter 7 petition is filed with the U.S bankruptcy court in the district in which the person or business is located.  A notice is sent to all creditors advising of the date of hearing and deadlines to object to discharge.  The hearing is known as the 341 meeting of creditor and is rarely attended by anyone other than the debtor, debtor’s attorney and Chapter 7 trustee.  Every so often, a creditor or two may appear to ask questions of the debtor. The questions may force the debtor to explain items listed on the petition or items that were not listed on the petition.

Each state provides for exemptions which allow a debtor to keep property free and clear from claims of the creditors.  There are limits however on the amount of property that one can keep.  If the debtor’s property exceeds the state or federal exemption amounts, that property can be sold by the Chapter 7 trustee for the benefit of creditors.  Prior to the property being sold by the trustee, the debtor would have the ability to keep the property by buying out the trustee’s interest. 
A debtor can obtain a discharge under Chapter 7 of the bankruptcy code every 8 years.  Hopefully, one fresh start is all a person would need.  Hopefully, a debtor has resolved whatever caused the financial difficulties in the first place.

Chapter 13 is a powerful method for repaying all or a portion of one’s debts over a period of 36 to 60 months.  The debtor pays a Chapter 13 trustee, who in turn, distributes funds to creditors.  Secured creditors are paid as a priority ahead of the general unsecured creditors.

Chapter 13 involves the filing of a petition as well as a plan to repay creditors.  A confirmation hearing is held whereby the Chapter 13 trustee will either recommend that the plan be confirmed or not.  Of course, the judge can confirm a case over the objection of the trustee.  However, if you want to have a successful Chapter 13, you would be wise to satisfy the trustee.  If the trustee is seeking clarification or amendments to schedules, try to make such amendments.  In my experience, it is very difficult to have a case recommended for confirmation when the trustee is arguing vociferously against it.

Once a case is confirmed, the burden continues with the debtor making the required payments.  In addition to the trustee payment, the debtor may have specific payments to make outside of the Chapter 13.  These can often include post-petition mortgage payments, leased auto payments, association fees and child support, alimony or maintenance payments.

Many Chapter 13 cases fail because the debtor is unable to maintain both the Chapter 13 trustee payments and their post-petition mortgage payments.  However, Chapter 13 often does provide for time for the debtor to refinance or sell the property, effectively paying off the debt.

 FREE Initial Consultation

Begin by scheduling an appointment for a confidential FREE no-obligation consultation. During this consultation, Rick will assess your financial situation and determine whether bankruptcy is a viable option for you.  You can schedule your Free consultation by:

1. Calling our office at (559) 222-4891;
2. Sending us an email at bk@centralvalleylaw.com, or
3. Simply filling out the Contact Us form on the right side of this page, and in the space for Brief description of your legal issue, type in the word "Help" and we will contact you to make an appointment.
   
   If you and Rick agree that he should represent your legal interests, he will outline exactly what will transpire through the various stages of the legal process, what you will need to do, and what he will do. He will also explain in detail the fees involved and their timing. When you need sound legal advice about Family Law, Estate Planning, or Personal Injury Law from someone you can trust, contact Rick D. Banks. You’ll learn why clients throughout Fresno and the San Joaquin Valley rely on him to represent their rights.

The United States Congress has designated the Law Office of Rick D. Banks, as a Debt Relief Agency.  We help people file for Bankruptcy under the Bankruptcy Code.  The Bankruptcy Reform of 2005, totally changed filing for Bankruptcy.  In short, it made filing a Bankruptcy a more complex process requiring designated Debt Relief Agencies, such as the Law Firm of Rick D. Banks, to gather more information from you, the potential Client.  No attorney client relationship is established by submitting information through this website form.