Grass Valley, California
Nevada City, California
Red Bluff, California
Welcome to Sierra Bankruptcy
Complete Debt Solutions
You may have felt there is no way out of your financial problems but help is available. If you are burdened by debt problems or unmanageable debts, put the Bankruptcy Law Offices of Stephen Johnson to work for you. We specialize in helping people to get a new financial start.
At the Bankruptcy Law Offices of Stephen Johnson, we have helped thousands of people in the Lincoln, Rocklin, Roseville, Sacramento, Redding, Chico, Colfax, Truckee, Nevada, Yolo, Shasta, Tehama, and Amador area obtain debt relief. We can stop creditor harassment, foreclosures, the IRS, wage garnishments and repossession immediately. In most cases, we are able to immediately stop foreclosure and renegotiate mortgage terms more favorable to our client.
To put it simply, we give people a second chance at financial security. In just a few weeks or months, you could be on your way to a brighter financial future. Contact us today to schedule a free consultation.
We Do More Than File a Petition
Our firm provides complete debt solutions for our clients. We will look at all aspects of your financial situation looking for ways to reduce your debts and strengthen your financial position.
We can completely discharge unsecured debts such as credit card debts, medical bills and personal loans through the Chapter 7 bankruptcy process. We can stop foreclosure and eliminate a second mortgage through a Chapter 13 bankruptcy. In most cases, we can eliminate your old IRS and state tax debt or negotiate with the IRS to reduce or eliminate non-dischargeable taxes.
From start to finish, we will handle all aspects of your case - working to obtain maximum debt reduction while allowing you to keep as much property as possible. You will have the confidence of knowing that a team of dedicated professionals is working to guide you to a more secure financial future.
Compositions and extensions - A "composition" is a contract between the debtor and two or more creditors in which the creditors agree to take a partial payment in full satisfaction of their claims. An "extension" is a contract between the debtor and two or more creditors in which the creditors agree to extend the time for payment of their claims. An agreement may be both a composition and an extension; in other words, an agreement to accept less money over a longer period of time.
There is no requirement that all of the debtor's creditors agree to a composition or extension, but most of them must voluntarily support it for it to work. Creditors that do not agree to the workout are not affected by it and remain entitled to pursue other remedies to collect the debts owed to them. Although they can theoretically proceed to recover the full amount due, they forfeit the right to benefit automatically from whatever partial payment the composition would have allowed had they taken part.
Assignment for the benefit of creditors - An assignment may be a simpler and cheaper alternative to bankruptcy for a small business that wishes to be liquidated. The debtor assigns all nonexempt property to an assignee who acts as a fiduciary for the benefit of creditors. The assignee liquidates the assets and distributes the proceeds pro rata among creditors who have filed claims with the assignee. An assignment is voluntary, but all creditors must accept it.
Chapter 11 - Filing for bankruptcy under Chapter 11 may be an option for debtors such as corporations, sole proprietorships and partnerships that are engaged in business. These debtors may wish to stay in business and avoid liquidation. Under Chapter 11, the debtor can have debts reduced or have the time for repayment extended.
Chapter 13 - Chapter 13 may be an option for individual debtors with regular income. Chapter 13 allows individual debtors to save their homes from foreclosure by coming up with a payment plan for past due payments. Sole proprietorships may also be eligible to file for Chapter 13.
Speak to a bankruptcy lawyer
Non-bankruptcy alternatives such as compositions and extensions have several benefits. However, in some circumstances, a debtor is afforded greater protection by a formal bankruptcy, and attempting a workout may just prolong the financial agony and delay the inevitable. An attorney who has experience in bankruptcy and debtor-creditor law at the Bankruptcy Law Offices of Stephen Johnson in Auburn, California, can help both debtors and creditors around Lincoln, Rocklin, Roseville, Sacramento, Redding, Chico, Colfax, Truckee, Nevada, Yolo, Shasta, Tehama, and Amador, California determine whether a workout is the best option for debt repayment, or whether bankruptcy is the better choice in their particular circumstances. Call today to schedule a consultation.
Free Consultation with a Lawyer
We can meet with you during business hours, in the evening or on weekends by appointment.
For a free consultation with an attorney at the Law Office of Stephen Johnson in Auburn, including Lincoln, Rocklin, Roseville, Sacramento, Redding, Chico, Colfax, Truckee, Nevada, Yolo, Shasta, Tehama, and Amador, California, Call 530-823-3655, or Toll Free at 888-623-5936, or send us an e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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