Practice

Robert Uriarte
Partner

Robert G. Uriarte is an AV rated lawyer whose emphasis is in the bankruptcy litigation and creditors’ rights areas, however, he has a substantial amount of experience litigating non-bankruptcy matters in both state and federal courts. In addition, Mr. Uriarte has significant experience in appellate matters and has obtained published opinions from the Court of Appeals for the Ninth Circuit. Mr. Uriarte is a graduate of Loyola Marymount University and the U.C.L.A. School of Law. Upon graduation from law school, he clerked for William J. Lasarow, then Chief Judge of the United States Bankruptcy Court for the Central District of California. Mr. Uriarte is a former Panel Member of Chapter 7 Trustees for the Central District of California, and has also acted as receiver in cases before the Los Angeles, Riverside and San Bernardino Superior Courts. Mr. Uriarte has represented creditors in Chapter 7 and 11 liquidation and reorganization proceedings in the United States Bankruptcy Courts. He has represented creditors committees, indenture trustees Chapter 7 and 11 trustees and has negotiated workout agreements, in addition to representing business and individual debtors. He has litigated matters involving alleged employer violations of wage and hour laws and wrongful termination. In addition, he has represented employer clients before the California Labor Commissioner.

Bankruptcy is a federal court procedure that grants debt relief and protection to debtors that are having difficulty or are totally unable to pay their creditors. One of the primary purposes of the Bankruptcy Act is to relieve the honest debtor from the weight of oppressive indebtedness and to provide the debtor with a fresh start. Bankruptcy can be filed by individual consumers or businesses. US Consumer Law Group provides assistance to businesses and consumers that need relief from their debt in the form of representation for both Chapter 7 and Chapter 11 bankruptcy filings.

Chapter 7

In the typical Chapter 7 bankruptcy, a trustee collects the non-exempt property of the debtor, converts the property into cash (liquidation), and distributes the cash to the creditors. However, in many Chapter 7 cases, there are no significant assets to be liquidated, but many lawyers and judges may still refer to the filing as liquidation.

Chapter 7
bankruptcy may be a good option for you if:

You don’t own a home or have little or no equity in it
You don’t own any major non-liquid assets
You have a low to moderate income stream
You have a variety of unsecured debts (e.g. debt on credit cards, past due medical bills, money owed to private creditors)

Chapter 7 filings usually flow through the court system quickly and you may be able to have your unsecured matters discharged in a few months. If your wages have been garnished, if you owe money to a payday lending operation, or if you’ve had a judgment rendered against you, these debts may be discharged along with your other various unsecured debts. However, a Chapter 7 filing cannot discharge student loans, alimony or palimony, or federal income tax debts.

Chapter 11

Chapter 11 is available to any business, whether organized as a corporation or sole-proprietorship. In Chapter 11, in most instances the debtor remains in control of its business operations as a debtor in possession, and is subject to the oversight and jurisdiction of the court. Bankruptcy affords the debtor in possession a number of mechanisms to restructure its business. A debtor in possession can acquire financing and loans on favorable terms by giving new lenders first priority on the business’ earnings. The court may also permit the debtor in possession to reject and cancel contracts. Debtors are also protected from other litigation against the business through the imposition of an automatic stay. While the automatic stay is in place, most litigation against the debtor is stayed, or put on hold, until it can be resolved in bankruptcy court, or resumed in its original venue.

Debtors may "emerge" from a Chapter 11 bankruptcy within a few months or within several years, depending on the size and complexity of the bankruptcy. The Bankruptcy Code accomplishes this objective through the use of a bankruptcy plan. With some exceptions, the plan may be proposed by any party in interest. Interested creditors then vote for a plan. Upon its confirmation, the plan becomes binding and identifies the treatment of debts and operations of the business for the duration of the plan.

Debt settlement is often misrepresented and misunderstood. It is not for everyone but is a good option for some. Certainly everyone would rather pay thirty, fifty or even seventy percent of the debt they owe rather than the full amount, especially when most of the balance is attributable to late fees, interest and other penalties. Creditors often will accept less than the full amount owed on a debt because if the debtor goes into bankruptcy they may receive no money at all. For those who do not wish to file bankruptcy and can afford to set aside money each month in order to make settlements on their debts, debt settlement may be the best option.

For debt settlement to be a viable option the account settled must be past due. Creditors are not interested in accepting an amount less than what is owed to them when an account is current and being paid timely. Bear in mind that not all creditors will settle with you. If your offer doesn’t sufficiently compensate a given creditor, he may refuse to negotiate out of spite or out of the hope that he can collect out of your liquidated assets before other creditors can. Moreover, the Internal Revenue Service may still require you to pay out taxes on your settlement. (You can, however, file a 982 Request with the IRS if you are undergoing unique hardships.) In addition, the credit bureaus will likely downgrade your credit as a result of your past due status on your credit accounts.

US Consumer Law Group provides the support and services you need to negotiate effectively with the people and corporations who hold your debt. To learn more about your debt settlement options, get in touch with US Consumer Law Group today. The firm offers complimentary consultation regarding personal debt settlement matters.