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Posts Tagged ‘orange county chapter 13’

The best form of Loan Modification may not be a Loan Modification at all! Part 1 of 2: Chapter 11 & 13 Bankruptcies

Thursday, May 12th, 2011

In California, consumer bankruptcies rose 25% in 2010 and were up 9% nationwide. There were 24,117 consumer bankruptcy filings here in the Santa Ana division of the Central District of California…and that was just in the first quarter of 2010! The majority of those were Chapter 7 filings to liquidate assets and eliminate unsecured debts.

What should be of great interest, especially here in South Orange County is the growth seen in Chapter 13 and consumer Chapter 11 bankruptcy filings. In both of these, the consumers typically are able to keep their homes, eliminate their junior mortgages (i.e. 2nd, 3rd, and 4th mortgages) entirely, and even reduce the amount owed on other secured debts. When an individual does not qualify for Chapter 13, they often consider a Chapter 11 bankruptcy.  For example, if a debtor’s secured debt exceeds $1,081,000 and/or combined unsecured debt exceeds $360,475, and the debtor wishes to keep delinquent assets, the only viable bankruptcy recourse would be to file for Chapter 11 bankruptcy protection.

To read the full story click here

Bankruptcy…a ‘Patriotic’ Solution? Part 2: BANKRUPTCY AND THE CONSTITUTION

Wednesday, May 4th, 2011

Bankruptcy was so important to our Founding Fathers that they included it in the US

Constitution before defining the Bill of Rights, which includes our freedom of speech and religion, due process, trial by jury, and prohibition against cruel and unusual punishment.

Isn’t it ironic that we Americans will provide shelter and security for those from distant and foreign lands, and yet struggle with the idea of accepting the same helping hand? Don’t those very words on the Statue of Liberty apply equally to the financially downtrodden – tired, poor, huddled masses yearning to breathe free? Don’t her broken shackles of oppression and tyranny apply equally to all of us? At Doan Law Firm, we break those shackles and provide a fresh start to all who pass through our doors.

To read the full article click here

Highest Bankruptcy Filings in More than 5 Years

Friday, April 29th, 2011

In Orange County the first quarter of the year ended with a 65 month high in Bankruptcy filings.1,881 individuals and businesses filed for Bankruptcy Protection making it the highest one-month total since the Bankruptcy law was changed in 2005. This represented a 10.1% year over year increase and the highest number of Bankruptcy filings for the month in 11 years as reported by the U.S. Federal Bankruptcy Court.

Source: U.S. Bankruptcy Court, Central District California

Although nationally, the increase of Bankruptcy filings seems to be slowing, the bottom line is that it continues to increase. The economic recovery here in Orange County, Los Angeles, and the Inland Empire will remain extremely slow until unemployment improves and the housing market gets upward traction…neither of which will likely happen soon. Until then, Chapter 7, Chapter 11, and Chapter 13 Bankruptcy will remain among the most viable means for individual economic recovery. For many, Bankruptcy is an excellent wealth management strategy. Doan Law Firm has helped more than 25,000 people remove over one billion dollars of toxic debt. We have crafted an ever increasing number of Chapter 13 plans to save clients’ homes. And, we help all of our clients get a fresh financial start.

For more on this visit OC Metro’s Metro Minute video on the topic.

Bankruptcy in California

Tuesday, April 26th, 2011


Chapter 7 and Chapter 13 Bankruptcy in California has risen substantially since 2005. With the recession and struggling economy, it is harder and harder for people to pay their debts. Last year the number of bankruptcies filed in the US hit a record high, 1.53 million. That equates to more bankruptcies than the entire decade of the 60’s!

As the U.S. reached new highs, California followed suit. In 2010, the Golden State filed 255,041 bankruptcies, which grew from the 206,000 in 2009 (Bankruptcy-Statistics.com). This rise in the number filing has been present throughout the last three years.

Although we have all been hopeful to see bankruptcies decrease this year, showing signs of a stronger economy, reports have been discouraging. California filed 17,007 bankruptcies in January, 2010 and 19,091 this January, 2011. The same rising numbers were calculated in February and March this year.

Until our unemployment improves and our economy begins to shows clear signs of recovery, Bankruptcy will remain both a viable solution and a wealth management strategy for millions more Americans struggling to make ends meet.

http://www.bankruptcy-statistics.com/

Experience matters

Tuesday, January 11th, 2011

Experience matters. So too does compassion and quality client care. We can tell you why, but it may be better and more insightful for you to hear it from a client.


“When we looked you up on your website we appreciated the Bible verses and immediately felt you were right for us.
Our case was handled by an excellent attorney, Alexa Rodriguez, from beginning to end with an exceptional bankruptcy team that dealt with other issues. Everyone we dealt with at Doan Law Firm was extremely professional, courteous, knowledgeable and efficient. We cannot speak more highly of your firm! From what I could tell, your firm runs like a well oiled machine! Excellent!!!!!
While filing BK is one of the most stressful things a person can go through, if anyone is considering filing for BK I would, without a doubt, recommend Doan Law Firm to them. The hardest part is making that initial call.
When we attended the Creditor’s Hearing, we noticed that Doan Law Firm, attended by attorney Alexa Rodriguez, was the only attorney present that had a clear understanding of all of her clients files and was familiar with them and had all of the proper documentation with her. It was unfortunate that other debtors scheduled that day were being represented by “specially appearing” attorneys that were fumbling through the hearing and did not know what they were doing or didn’t have enough information/knowledge to assist their client. After witnessing this, my husband and I were so glad we decided to have Doan Law Firm handle our bankruptcy. Again, Doan Law Firm, Alexa Rodriguez and your bankruptcy team did an EXCELLENT job and my husband and I were very happy with your representation. Thank you, thank you, thank you!!!!!”

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    Laguna Hills Bankruptcy
    25401 Cabot Rd.
    Suite 113
    Laguna Hills, CA 92653
    Call 888-362-6529

    Santa Ana Bankruptcy
    930 West Seventeenth St.
    Suite C
    Santa Ana, CA 92706
    Call 714-795-3536

    Corona Bankruptcy
    1411 Rimpau Ave.
    Suite 108
    Corona, CA 92879
    Call 909-708-4597

    Moreno Valley Bankruptcy
    24490 Sunnymead Blvd.
    Suite 101
    Moreno Valley, CA 92553
    Call 951-579-4756

    Watsonville Bankruptcy
    444 Airport Blvd.
    Suite 109
    Watsonville, CA 95075
    Call 888-362-6529

    Oceanside Bankruptcy
    1930 S Coast Hwy
    Suite 206
    Oceanside, CA 92054
    Call 760-450-3333

    Chula Vista Bankruptcy
    333 H Street
    Suite 5000
    Chula Vista, CA 91910
    Call 619-500-6535

    Escondido Bankruptcy
    320 East 2nd Ave.
    Suite 108
    Escondido, CA 92025
    Call 760-746-4476

    La Mesa Bankruptcy
    4817 Palm Ave.
    Suite I
    La Mesa, CA 91942
    Call 619-462-362

    San Diego Bankruptcy
    185 West F St
    Suite 100
    San Diego, CA 92101
    Call 619-234-3626