The Liviakis Law Firm in Sacramento specializes in consumer and small business bankruptcy legal services. Founded in 2008, the firm offers debt solutions, settlement with creditors, and reorganization plans to effectively combat creditor action.
An attorney with the Sacramento law firm, Mikalah Raymond Liviakis begins the process by assessing a client's total asset value, average income, and the types of debt belonging to the client. These initial determinations provide a framework for the attorney to recommend a course of action that may involve business or individual bankruptcy. Sometimes not filing or conducting an out-of-course work out settlement is the best solution for the client.
As of March 21, 2011, Liviakis has worked out unanimous consent to a small business chapter 11 plan that included provisions to strip-down the mortgage debt associated with the debtor's business property. The alteration in mortgage payments was essential to help the business survive. The banks reluctantly agreed that a reduced interest payment would be better than having the debtor wind up in chapter 7. This is certainly not the typical outcome of a chapter 11 case, as most of these cases are either dismissed or converted to a
chapter 7 bankruptcy before the debtor can accomplish a successful reorganization.
Now, the Liviakis Law Firm has focused its attention on the mortgage crisis and has used the tools available in bankruptcy to address some of the problems borrowers are facing in Northern California. As borrowers fall behind on their mortgages when payments spike they risk having their houses wind up in foreclosure. Mikalah Raymond Liviakis has used the chapter 13 bankruptcy forum to eliminate second mortgages, set up payment plans up to five years for missed mortgage payments, and lower the principle balance on mortgage debt linked to rental property.
For more information the Liviakis Law Firm can be reached at 916-458-4027 in Sacramento, California.
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