ABOUT ME

I strive to give the best service to my clients


Jennifer Ann Aragon

Attorney at Law

I believe in being polite but very persistent. Let my knowledge, experience and enthusiastic approach to the law work for you!

If you need to file for bankruptcy, I will work to discharge your debts and help you retain all of your exempt property. Furthermore, I am happy to give you advice on re-establishing your financial future! I've successfully filed over 8,000 bankruptcies since 1995.

I feel fortunate to be able to work in a career that enables me to help so many people! And (I can't deny) I am very proud of the good service I provide to my clients!

Visit my blog - Life is Beautiful

  • Don't let anything pass you by without looking at it carefully.

    — Dr. David Abrahamsen, M.D., The Road to Emotional Maturity

  • Grasp the thistle firmly.

    — Unknown

  • Who is wise? He who learns from everyone.

    — Talmud

  • Many people resent having favors done for them.

    — Harold Kushner, Overcoming Life's Disappointments

  • Of the thirty-six ways of averting disaster, running away is the best.

    — Chinese Proverb

  • The best cooking is the least cooking.

    — Chizuko Moriyama

  • Eat to please thyself, but dress to please others.

    — Benjamin Franklin

CHAPTER 7

Wipe out your debts


On October 17, 2005, the bankruptcy law changed. Since then, many clients have told us they thought the bankruptcy law ended then and that they would not be able to file anymore. This is not true. Most people can still file Chapter 7 bankruptcy and wipe out their debts. It is a little harder now because there are more procedural requirements under the new law, but most people can still qualify for bankruptcy if they are swamped with high interest credit card debt.

Frequently Asked Questions

How much does it cost to file a Chapter 7 Bankruptcy with Jennifer Aragon?

$665.00 - Attorney's fees
$335.00 - Court Filing fee
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$1,000.00 - Total Fee

What is a Chapter 7 Bankruptcy?

A Chapter 7 Bankruptcy is a "liquidation of debts". The Debtor (that's you) receives a discharge a court order stating that you no longer have to pay your creditors--usually within four months. In the vast majority of cases Chapter 7 will give you a very quick "fresh start".

How difficult will it be for me to file a Chapter 7 under the new bankruptcy laws?

For the vast majority of people, Chapter 7 is still very possible with very little extra effort! The main difference is that there is more paperwork than there used to be prior to the 2005 change in the law. Jennifer Aragon will take care of all of the paperwork and court appearances for you!

Will my creditors stop harassing me?

Yes, absolutely! By law, all actions against a Debtor must case once the documents are filed with the court. Creditors cannot initiate or continue any lawsuits, wage garnishments, or even telephone calls demanding payment.

Will my spouse be affected?

Not directly. However, California is a community property state, so it is generally advisable to file jointly with your spouse, as both husband and wife may be deemed liable for the other's debts. Ask Jennifer more direct questions on this topic when you meet with her.

Who will know that I filed for bankruptcy?

Bankruptcy filings are public records. However, under normal circumstances, no one will know that you went bankrupt, unless they were specifically searching the court files for your personal information.

How often can I file for a Chapter 7 Bankruptcy?

You may file for (and receive a discharge in) a Chapter 7 Bankruptcy case once every 8 years. If you have received a discharge in another chapter of bankruptcy within the last several years this might also affect your eligibility to receive a discharge in a Chapter 7 Bankruptcy.

Isn't consolidation better for my credit than Bankruptcy?

In most cases, consolidation is not better for your credit. Chapter 7 will cost you less money and you will rebuild your credit rating faster than if you had tried to consolidate. Be cautious if you are trying to consolidate many "non-profit" credit counseling groups engage in fraud against financially desperate people. i.e., they may take your money and do nothing on your behalf.

Can I keep my credit cards?

Whether a Debtor keeps credit cards after filing for Bankruptcy is up to the credit card company. But in most cases, even if you have a zero balance, the credit card company will cancel your charging privileges.

Can I get more credit after filing for Bankruptcy?

Yes! Usually you will qualify to purchase a house within about two years after having filed for bankruptcy. You should be able to obtain credit cards shortly after having filed for a Chapter 7 Bankruptcy. Only you can decide if obtaining further credit cards is an advisable course of action.

Can my employer fire me for filing bankruptcy?

No! U.S.C. Section 525 prohibits any employer for discriminating against you because filed for bankruptcy.

Will I lose property by filing a Chapter 7?

In almost all cases the anwer is "No!" Almost all property you have will be considered EXEMPT (untouchable by the court and/or creditors). Secured property (homes, cars, etc.) with loans against them will be exempt and can be retained SO LONG AS YOU ARE CURRENT AND KEEP CURRENT ON YOUR MONTHLY PAYMENTS.

Do I have to go to Court?

You are required to appear once at a civil hearing, which will be held 20 to 40 days after the date of filing your petition. However, you will not be in a courtroom and you will not see a judge. The attorney, Jennifer Aragon, will be present with you while a court trustee asks you a few simple questions. You do not have to face this alone!

What role does my attorney play in filing a Chapter 7 Bankruptcy?
  • Advisor
  • Handle all creditor calls
  • Prepare all necessary paperwork
  • Appear at court hearing with you
  • Protect your assets

CHAPTER 13

Restructure your debts


A Chapter 13 bankruptcy allows you to restructure your debts so that you can begin rebuilding your credit and regaining financial solvency. I will evaluate your case and determine whether Chapter 13 bankruptcy is appropriate in your case.

Chapter 13 is designed to allow consumer debtors to repay only the amount of unsecured debt that they can reasonably afford to repay over a three to five year term. Chapter 13 may be appropriate if you do not qualify for Chapter 7 bankruptcy, or if you owe arrearages on a mortgage and would like to keep your home, or if you have a small business and need to restructure your business debt. Chapter 13 bankruptcy is not available to corporations or limited liability companies.

One important advantage of Chapter 13 bankruptcy is that, in some circumstances it is possible to "lienstrip" a second mortgage or home equity line of credit if the value of your house has declined so that your home is worth less than you owe on the first mortgage. When a second lien is stripped, the lien is included as unsecured debt in you Chapter 13 case, so that if you make it through a three to five year repayment plan the balance of your unsecured debt (including the "stripped" lien) is discharged.

If you decide to proceed with a Chapter 13 bankruptcy, I will handle your bankruptcy case from start to finish. Remember, we are here to help you out!

Call for a free consultation!

(213) 482-2300

FAMOUS DEBTORS

Debt problems? You're not the only one!


Walt Disney

Walt Disney had filed for bankruptcy in 1923. Later, of course, he went on to have great financial success. Nowadays, Disney characters invade our lives to such an extent that most people don't realize that Pinocchio, Snow White, etc., are not original Disney creations, but rather interpretations of old stories.

Thomas Jefferson

Though he did not file for bankruptcy, Thomas Jefferson, was a chronic debtor. One of our founding fathers, Mr. Jefferson's intelligence and renaissance talents could not save him from financial ruin. His image appears on the face of every nickel, and the beautiful mansion that he designed, Monticello, appears on the tails side. I always think about this when I have five cents in my hand!

Donald Trump

In 2003, his casinos lost tens of millions of dollars, and his company was $1.8 billion dollars in debt. It would seem that he's not nearly as solvent as he portrays himself to be. Though Mr. Trump has filed for bankruptcy previously, he refuses to admit that his business practices are anything but inspired.

Michael Jackson

Michael Jackson was also deeply in debt, but to my knowledge, had never filed for bankruptcy. His molestation lawsuits, contract disputes, as well as his penchant for high living (Neverland, surgery, sleepovers with young boys) had caused him to incur millions of dollars of debt.

Elvis Presley

Elvis Presley had serious debt problems. With a fleet of planes and cars, all specially emblazoned with the initials TCB (Taking Care of Business), Mr. Presley also had a huge entourage of people, most of whom were just paid to hang around Graceland and keep him company. Since his catalogue of songs dramatically increased in value after his death, his heirs, namely Lisa Marie, are now exceedingly wealthy. Let's hope they can learn from Elvis' example and not spend everything.

Willie Nelson

Willie Nelson had a huge entourage and highly paid backup musicians. His drummer was even in the "Guiness Book of World Records" as the world's highest paid drummer. He also gave millions of dollars directly to fans, who claimed they needed it for funerals, prosthetic body parts, and other tragedies. It is likely that some of these people just wanted money but Mr. Nelson never verified what the people used it for. Huge debts ensued when Mr. Nelson couldn't pay his taxes. In 1993, he settled his $16.7 million delinquent tax bill.

Nicolas Cage

Nicolas Cage was also once linked romantically with Elvis' daughter. Cage, an Oscar winning actor has done a lot of shopping. He bought houses -- including a couple of castles -- cars, yachts, a Gulfstream jet, and even reportedly purchased real diamonds for the bottoms of his fish tanks. He's lost a few of his houses lately, at least one was sold in a foreclosure sale in April of 2010.

Kim Basinger

Kim Basinger filed for bankruptcy in 1993 over a contract disagreement regarding the movie "Boxing Helena." I thought this movie would have been about a female boxer named Helena. It was actually about a woman who was chopped up and put into a box No wonder Ms. Basinger didn't want to star in it!

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