Most people get confused on wether or not to file Chapter 7 or Chapter 13 Bankruptcy. Here is the lay down: The one key point that differentiates filing for Chapter 7 and Chapter 13 bankruptcy is income level. Only those who fall below a certain income level are eligible to file for Chapter 7 bankruptcy. Typically, chapter 7 bankruptcy is normally simpler and takes less time than Chapter 13 bankruptcy. Approximately 71% of all bankruptcy cases are Chapter 7 cases, while the remaining 29% are Chapter 13 bankruptcies. Chapter 7 Bankruptcy: Chapter 7 is a liquidation bankruptcy that wipes out most of your general unsecured debts such as credit cards and medical bills without the need to pay back balances through a repayment plan. To qualify for Chapter 7 bankruptcy you must meet income requirements. If you make too much money, you’ll have to file under Chapter 13 bankruptcy. Chpater 13 Bankruptcy: Chapter 13 is a reorganization bankruptcy designed for debtors with regular income who have enough left over each month to pay back at least a portion of their debts through a repayment plan. Even though most Chapter 13 filers make too much money to qualify for Chapter 7 bankruptcy, many debtors choose to file for Chapter 12 bankruptcy because it offers many benefits not available in Chapter 7 (such as the ability to catch up on missed mortgage payments or strip wholly unsecured junior liens from your house).
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Real estate lawyers review real estate transactions, including purchases, leases, inspections and appraisals. They typically specialize in legal matters related to property, from sale transactions to disputes between parties. Some general duties of a real estate lawyer include:
Real estate law encompasses the purchase and sale of real property (land and any structure on it). It also covers legal issues related to anything that is attached to the property or structures, such as appliances and fixtures. How Much Do Real Estate Attorney Cost? Most real estate lawyers charge by the hour for their services. Typically, the range is $150 to $350 per hour, or a flat fee of $500 to $1,500. |
Talkov LawTalkov Law is one of Southern California’s preeminent law firms for real estate, business and bankruptcy litigation, disputes, trials and appeals. Based in Riverside, California, Talkov Law Firm has helped thousands of clients in providing legal counsel and helping them meet the many legal challenges and decisions they face. As a law firm with integrity, we consistently strive for the best possible results and provide the best legal service for our clients. ArchivesCategories |