Los Angeles Bankruptcy Attorney

Understanding Bankruptcy

We know that plummeting into debt can be one of the scariest situations to be in, especially if you have a family to take care of. While you were once happy and carefree, suddenly you feel as though the weight of the world is on your shoulders. You can't even believe that you are considering bankruptcy as a viable option. While this is a frightening and often overwhelming time, we have some good news for you: we can help. Bankruptcy is not as bad as you think it is and there are also several other alternatives you can explore.

More than one million bankruptcy cases are filed in the U.S. each year. Bankruptcy can be a way to protect your assets and protect you from creditors. There is a reason why the United States Constitution made provisions for bankruptcy back in the 1800s! Bankruptcy was designed to provide honest debtors with relief and to repay creditors in an orderly manner. Flush the myths out of your mind and realize that bankruptcy could be the best option for you. But before you decide to file for bankruptcy, we are knowledgeable about several other alternatives you should consider first.

Considering Alternatives

If you are struggling to pay your bills and unable to pay down your debts, talk to a lawyer from Price Law Group for assistance. Continuing on as you have been will only lead to more wasted effort and ongoing despair. It can lead to an even more dangerous financial situation. Talk to an attorney from our firm before you face wage garnishment, repossessions and similar financially and emotionally devastating events.

Even if you are already suffering these types of stressful situations, your legal counsel can take prompt action to help resolve the situation. There are many options available to help you out of the ongoing cycle of crushing debt and put you on the path to a brighter financial future. Alternatives to bankruptcy may include loan modification, debt settlement and other forms of debt relief, depending on the specifics of your finances. If you are at risk of losing your home, the firm can assist you in foreclosure defense. Depending on how you decide to address the situation, short sale negotiation and deeds in lieu can be greatly facilitated by an experienced lawyer.

The Bankruptcy Process

The bankruptcy process normally starts with filing a petition with the bankruptcy court. When you file, you must list your assets, income, liabilities, and the names/addresses of all your creditors and how much you owe them. After you have filed a bankruptcy claim, debt collection actions are prevented. Your creditors receive notice from the bank that you have filed for bankruptcy.

Different forms of bankruptcy cases involve different methods. In some cases a debtor can reorganize his debts and establish a plan for paying them off. This is considered chapter 13 bankruptcy and is available to a good majority of people who can afford to pay off their debts in specified amount of time.

In other instances a debtor must liquidate his assets in chapter 7 bankruptcy situations. While liquidating your assets is a difficult process, it can be simpler in that it prevents disputes over property, property worth, how much debt is owed, and whether or not you should be discharged of your debts. This process is only available to individuals who pass a means test, proving that they do not make enough income to pay off their debts with a plan. Almost all of the money owed will be discharged, except for student loans, any child support or spousal support and a few other government loans.

With skilled legal counsel managing your case, the bankruptcy exemptions and aggressive negotiations in bankruptcy court, can allow you to keep all of your assets throughout the bankruptcy process. This time does not have to be a desperate ending; it can be a fresh and hopeful beginning if you get qualified legal assistance and are willing to make some necessary lifestyle changes. Maybe it is time to stop the self-blame and despair and to give yourself a second chance!

Legal Help with Financial Solutions

Many different factors can contribute to financial woes: medical expenses, job loss, excessive use of credit, divorce, and unexpected expenses. The legal team at our firm is dedicated to helping you and your family with whatever financial problems you are facing. We can protect you against creditor abuse by defending your rights per the Fair Debt Collection Practices Act . The firm can even assist with tax resolution and pursuing a just insurance settlement.

The attorneys at our firm are dedicated to providing personalized attention and tailored legal help to each and every one of our clients. We will help you address any pressing concerns and then assist you in implementing the most appropriate long-term financial solutions for your personal situation. With over 20 years in the field, we have helped over 100,000 individuals successfully resolve their debt problems.

As the largest consumer bankruptcy firm in the southwest, we have earned the respect of the bankruptcy courts and achieved an A rating with the Better Business Bureau. Take advantage of our free consultation to help you get started on your quest towards a more secure and happier future. When you are going through the tumultuous time of considering declaring bankruptcy, it is of the utmost importance that you have premier legal assistance on your side.

A caring and proficient bankruptcy firm can act as your friend and advocate throughout the days ahead. One thing is sure: you will need a rock you can rely upon. Why not dismiss the bulk of your fears and uncertainties by contacting Price Law Group? We can provide you with aggressive legal services and help you take critical steps towards resolving your financial problems! What are you waiting for? Call now!