Understanding Bankruptcy

Is bankruptcy my best option?Sometimes the right choice is not the easiest choice. This is certainly true when considering a personal or business bankruptcy in San Diego. Depending on the approach, a bankruptcy can be a rebirth, a fresh start, an opportunity to address lingering issues in order to move on with business, finances, and even life.

When considering Chapter 7 or Chapter 11, you need to consult a San Diego Bankruptcy Attorney. The bankruptcy attorneys at Higgs Fletcher & Mack can help guide you through the seemingly endless mountains of paperwork commonly associated with such a situation, and reach a fair and equitable solution for all parties involved.

Is Bankruptcy my Best Option?

PastDue_Glasses_200_300Bankruptcy can sometimes indeed be your best option. Depending on your situation, your debt structure, and your ability to remit payment to your creditors, insolvency can help give you the time you need to consider your goals and give you a fresh start to begin your financial life anew.

It can be difficult to face the reality of a challenging economic situation. However, if you fail to take advantage of the protection the law affords, if you let your creditors take you to court, you risk losing much more in the process than if you took a moment to realistically appraise your situation and contact a San Diego bankruptcy attorney at Higgs Fletcher & Mack. The only thing left to determine is whether Chapter 7 or Chapter 11 is right for your needs and how soon your financial nightmare can end.

Which Type of Bankruptcy is Right for Me?

Before proceeding with a bankruptcy in San Diego, you need to consider your individual situation. Federal law outlines the procedures and requirements of several different kinds of bankruptcy that apply to individuals, businesses or other entities that need it.

The personal and business bankruptcy attorneys at Higgs Fletcher & Mack handle two of the three of the most common types:

  • Chapter 7 Bankruptcy: Often referred to as “straight bankruptcy,” Chapter 7 is the simplest kind of bankruptcy, and involves liquidation of individual or business assets. Individuals are able to “discharge” most of their debts and begin with a fresh start. Businesses do not discharge their debts as do individuals but simply liquidate in Chapter 7.
  • Chapter 11 Bankruptcy: This type of bankruptcy is rehabilitation or reorganization mostly used by businesses and individuals that do not qualify for Chapter 7 “straight bankruptcy” or Chapter 13 “consumer reorganization.” Chapter 11 is a complicated and sometimes lengthy process that requires careful planning and guidance.

What Can a Bankruptcy Attorney do for my Situation?

Which type of bankruptcy is right for you?The Bankruptcy Attorneys at Higgs Fletcher & Mack have years of experience guiding San Diegeans through the bankruptcy process.

There are always individual variables for personal bankruptcy or business bankruptcies that vary from client to client, so it is best to consult with a San Diego bankruptcy attorney as soon as you begin to consider such an endeavor.

Some aspects of bankruptcy are contingent on fast action, and the longer you wait to talk to a professional about your finances the more a delay can adversely affect your situation.


Considering Bankruptcy? Consult with an Experienced Bankruptcy Attorney Today.

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San Diego Bankruptcy Attorneys at Higgs Fletcher & Mack can Help.

Bankruptcy law is complicated and full of variables that affect different people and businesses in different ways. After 70 years of experience working with clients throughout San Diego, Higgs Fletcher & Mack understands the needs of individuals and businesses, large and small, is testament to our commitment to our place in the community. Whether you are considering a Chapter 7 or a Chapter 11, the San Diego bankruptcy attorneys at Higgs Fletcher & Mack stand ready to use their resources and experience to help you do what’s best for you and finances.

Video Resources:

  • Someone who owes you money has filed for Bankruptcy

    My name is Paul Leeds and I’m a Bankruptcy Litigator at Higgs Fletcher & Mack. Someone who owes you money has filed for bankruptcy, is there anything you can do about it? Well, the answer is yes, as long as you act quickly. There are nineteen different types of debt that are discharged in a bankruptcy, but three of them require you to file a lawsuit in the bankruptcy proceeding and if the debtor has been dishonest to you or has lied in the bankruptcy process, we can object to their discharge on your behalf. The attorneys at Higgs Fletcher & Mack have helped thousands of creditors recover millions of dollars in bankruptcy cases and would be glad to talk to you about your case.

  • Writ of Attachment

    I’m John Morrell, managing partner of Higgs Fletcher & Mack but also a commercial lawyer. I’ve been practicing in this field for thirty years. If you owe money to a company or individual, one of the things that might be involved is a writ of attachment, you want to be aware of this because if a writ is taken against you, you may not be able to access your bank account or other property. You might not be able to refinance it or sell it, so you want to be able to get into see us so that we can help you with regard to this immediately.