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Bankruptcy law allows people who are not able to pay their creditors to get a fresh start.
Personal Injury is where harm is caused to an individual because another individual failed to use reasonable care.
Estate planning is very important and everyone needs an estate plan. Estate planning is building an estate during a lifetime, and then making sure that those assets are protected in an estate that can be passed to the next generation.
In forming a business, there are different ways of protecting your business and yourself. It is best that you seek advice from an attorney to understand whether the route you are taking is the correct one for your needs.
Served with a summons and complaint? Trouble keeping up with credit card and medical bills? Bankruptcy can be the solution for you.
California bankruptcy law can stop garnishments, foreclosures, and harassment from creditors. Our office specifically handles these types of cases. Our office has helped thousands of people navigate the bankruptcy process and successfully obtain complete discharge of their debts.
This type of bankruptcy wipes out all debts that are considered dischargeable. Credit card debts, medical bills, pay day loans, and personal loans are types of debts that are dischargeable. Certain debts are non-dischargeable by law, which include student loans, income taxes less than 3 years old, child support, property taxes and debts incurred by fraud.
To qualify for Chapter 7, the debtor's income and assets are taken into consideration. The debtor must show that his or her income is less than the "median income" of other people in the State of California. As of May 1, 2018, the median income allowed for a household of one is $54,797. If an individual has a total gross income less than or equal to $54,797, then it is presumed that they would qualify for a Chapter 7 bankruptcy. If an individual has a total gross income more than $54,797, then they are subject to a "means test" to determine whether they are able to file a Chapter 7 bankruptcy.
To have a better understanding of whether Chapter 7 bankruptcy is the right solution for you, contact our office for a free consultation.
This is also called "reorganization" bankruptcy. Some debtors with higher-than-average income are limited to Chapter 13. In a Chapter 13, the bankruptcy case administrator (also called the bankruptcy trustee) collects monthly payments from the debtor and then re-distributes the payments to the creditors. In most cases, debtors are only required to repay back a fraction of their total debts. The remaining unpaid debts are discharged (meaning they are wiped out) in the bankruptcy.
Since every Chapter 13 plan must be drafted from scratch, an attorney's assistance is usually required to properly file.
A Chapter 13 bankruptcy can also stop a foreclosure sale. If a debtor is behind on his or her mortgage, a Chapter 13 can be used to catch-up on mortgage arrears. The bankruptcy code allows up to 5 years to catch-up on a delinquent mortgage. While a debtor is in a Chapter 13 payment plan, federal law prohibits lenders from foreclosing on that property. Chapter 13 can only stop a foreclosure sale as long as the bankruptcy case was filed before the actual foreclosure sale date.
If you are facing foreclosure, don't wait! If you are stressed or worried, call today to setup a free in-person consultation with one of our attorneys.
Slip and Fall
Personal Injury is when harm is caused to an individual because another individual failed to use reasonable care. It comes about due to the negligence of another party. Under personal injury law, the injured party can file a lawsuit to seek compensation for the damages that they have suffered.
Personal injury claims are:
Slip and Fall
Under personal injury law, the person injured may be entitled to economic and non-economic damages. Compensation is available for pain and suffering, medical costs, lost wages and more.
Proving a personal injury case and the damages that have accumulated is a difficult process. A personal injury lawyer will provide legal representation and recover the maximum amount for damages.
At Khach Law Group, PC, our experienced attorneys are dedicated to serve our clients and their best interest. Our goal is to help clients obtain the justice and compensation they deserve for the damages that they have suffered.
There are time limitations in which an individual can bring a claim for compensation so it is important that you act fast.
Call Khach Law Group today for a free consultation.
Estate Planning is very important and every needs an estate plan. Estate planning is building an estate during a lifetime, and then making sure that those assets are protected in an estate that can be passed to the next generation.
Estate Planning tries to encourage a wealth-building approach for everyone. This process looks at the income tax, fiduciary tax, estate tax, and gift tax to minimize the overall tax burden of the total family unit. Anyone with income, property, and investments must be concerned with estate planning.
Limited Liability Company (LLC)
Limited Partnership (LP)
Limited Liability Partnership (LLP)
S Corporations are corporations that elect to pass corporate income, losses, deductions, and credit through their shareholders for federal tax purposes.
Taxation of S Corporations is similar to that of a partnership in that the income, deductions, and tax credits flow through to shareholders annually. As a result of this, income is taxed at the shareholder level and not at the corporate level.
Forming S Corporation
Before you elect to be an S Corporation, you must first file as a corporation.
Once you file as a corporation, all shareholders will have to sign and file Form 2553 to make the election of being an S Corporation.
In forming a corporation, it is best that you seek advice from an attorney to understand whether the route you are taking is the correct one for you. Our firm can help you make the right decisions to best protect you as you start a new business.
C Corporations are separate taxable entities. Unlike an S Corporation, C Corporations file a corporate tax return and pay taxes on a corporate level.
A Limited Partnership exists when two or more partners come together to jointly conduct business but limiting their liability to the extent of the amount of money each partner has invested.
A Limited Liability Partnership is general partnership with the added benefit of giving the partners at least some limited personal liability.
A nonprofit organization is a business entity that is dedicated to furthering a specific social cause.
This website is for informational purposes only. Using this site or communicating with Khach Law Group, PC through this site does not form an attorney/client relationship. This site is legal advertising.
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