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Bankruptcy Attorneys in Downtown Los Angeles, CA

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Bankruptcy regulations in Downtown Los Angeles, CA can be very complicated, that’s why we’ve created tons of articles that simplify and explain them to you. Our lawyers have saved incredible amounts of money that we cannot disclose!

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What is the Fresh Start lending Program?

If you are burdened with debt, then our fresh start program can help you have a financial clean slate. We’re talking about what could be your saving grace, bankruptcy. By filing bankruptcy, you can get rid of all your unsecured debt, and enjoy a new financial beginning.

Experience

If you decide to file for bankruptcy, but you are unfamiliar with the laws surrounding this process, it may be a bad idea to do so on your own. An excellent bankruptcy attorney will have all the experience necessary to make your bankruptcy filing successful. In addition, a bankruptcy attorney knows the state laws and regulations inside and out, and will guide you through all the procedures.

Assess all your options

The extensive financial knowledge of an experienced bankruptcy attorney will allow him/her to diagnose your financial situation, and then determine what type of bankruptcy is best suited for your situation. You may want to get rid of your debts quickly, in which case the attorney will recommend chapter 7 bankruptcy. Or you may have a steady income and qualify for chapter 13 bankruptcy.

Protection from creditors

You may be receiving constant calls, and even visits, from creditors demanding payment of your debt. However, if your creditors know that you have an excellent bankruptcy attorney on your side, they will leave you alone immediately. Your attorney will make sure they stay away from you. He or she will tell you about the types of behavior that are considered abusive, and about the rights you have in your position. Once you file for bankruptcy, creditors are legally required to stop collecting on the debt.

Save your home or vehicle

If you are facing foreclosure proceedings, or if you are receiving threats to repossess your vehicle, hiring a bankruptcy attorney may be your best option to save those precious assets. The attorney will explain to you the options you have to have the best chance of keeping them. In addition, he/she will assist you in making lists of exempt assets, so that you do not make any mistakes during the procedure and end up losing something important to you.

Peace of mind

Retaining the services of an experienced bankruptcy attorney will make the entire process much easier. If you are going through a difficult financial time, you do not need to stress about legal procedures, when you can entrust it to someone who is much more experienced than you are in this field. Once you retain the services of an attorney, you can relax a bit, and then focus on rebuilding your finances with some peace of mind.

What Are The Benefits of Bankruptcy in Downtown Los Angeles

One benefit of filing for bankruptcy in California is that, you will be given two separate lists of assets which you can exempt (or protect) – and California is just one of the few states who do this.

However, you cannot mix the assets listed in the two different lists and have them both exempted; you have to choose between them.

Non-exempt properties, assets and properties you cannot “protect”, are sold by your bankruptcy trustee as your means to payment to your creditors (this is, if you choose Chapter 7, and this happens with any US state). If you filed for either Chapter 11 (best for large businesses) or Chapter 13 (best for individuals and small businesses), you can keep those non-exempt assets (for a while, at least) while you reorganize your finances (called repayment or reorganization plan) so you can pay your creditors in a given amount of time. Failure to do so will mean your non-exempt properties be taken away from you – depending, of course, on the remaining balance you have.

What Are The Different Types of Bankruptcy in Downtown Los Angeles, California?

Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is the fastest way to fix (most of) your debt problems – simply sell your non-exempt assets and pay the proceeds to your creditors (this is done by your bankruptcy trustee). Most of your remaining debts will be discharged (but not all, such as child support, fraudulent debts, student loans, etc.)

Filing Chapter 7 Bankruptcy is best if you want a quick solution for your debt issues – and if you’re fine with selling your assets and properties (many find this uncomfortable).

The great side is, once you file for Bankruptcy Chapter 7, it will be quick for you to rebuild your finances and have a fresh start again.

Fresh Start Programs are willing to help you rebuild your credit, usually by having “Fresh Start Lenders” lend money to you.

Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is the fastest way to fix (most of) your debt problems – simply sell your non-exempt assets and pay the proceeds to your creditors (this is done by your bankruptcy trustee). Most of your remaining debts will be discharged (but not all, such as child support, fraudulent debts, student loans, etc.)

Filing Chapter 7 Bankruptcy is best if you want a quick solution for your debt issues – and if you’re fine with selling your assets and properties (many find this uncomfortable).

The great side is, once you file for Bankruptcy Chapter 7, it will be quick for you to rebuild your finances and have a fresh start again.

Fresh Start Programs are willing to help you rebuild your credit, usually by having “Fresh Start Lenders” lend money to you.

What Can A Chapter 7 Bankruptcy Attorney in Downtown Los Angeles Offer You?

Filing for Chapter 7 Bankruptcy will be smooth if you work with the best Bankruptcy lawyers of Downtown Los Angeles, California.

Bankruptcy lawyers in Downtown Los Angeles should help you in preparing and submitting your bankruptcy files in a bankruptcy court. They will also help you in finding a reliable bankruptcy trustee.

Chapter 7 bankruptcy lawyers, together with your trustee, will help in the liquidation of your assets, which then will be used to pay to your creditors. In the process, other debts – most of your unsecured debts, like credit card debts – will be discharged from you (meaning, you don’t have to pay them).

Once everything is settled, you are financially free again (though you still have some debts, the non-dischargeable debts). You can finally have a fresh start in your finances and be able to build your credit again.

Chapter 13 Bankruptcy

A Chapter 13 bankruptcy is very similar to paying off a loan to the bank. Basically, it involves restructuring your finances so that you can develop a payment plan, through which you will settle your debts with your creditors.

This is an option tailored to small business owners and individuals who have some financial stability. It’s a way to get rid of your debt without putting your most valuable assets at risk.

Each month, your restructuring plan payment will be deducted from your income. You should have enough money to continue living normally even while making your monthly payments.

Chapter 13, also known as “wage earner bankruptcy,” can be quite extensive. From a few months, to several years. It all depends on your accumulated debts.

Chapter 13 Bankruptcy

A Chapter 13 bankruptcy is very similar to paying off a loan to the bank. Basically, it involves restructuring your finances so that you can develop a payment plan, through which you will settle your debts with your creditors.

This is an option tailored to small business owners and individuals who have some financial stability. It’s a way to get rid of your debt without putting your most valuable assets at risk.

Each month, your restructuring plan payment will be deducted from your income. You should have enough money to continue living normally even while making your monthly payments.

Chapter 13, also known as “wage earner bankruptcy,” can be quite extensive. From a few months, to several years. It all depends on your accumulated debts.

What Can A Chapter 13 Bankruptcy Attorney in Downtown Los Angeles Offer You?

Bankruptcy lawyers of Downtown Los Angeles, California are great in reorganizing your finances to ensure you can pay your creditors well (over a given period of time) while you can meet your basic daily living.

Consulting with a bankruptcy attorney before proceeding with your filing will help you determine which type of bankruptcy really fits your case. Not everyone qualifies for Chapter 13 bankruptcy, if you don’t want to have any doubts about which one is right for you, contact an attorney.

If, after consultation with an attorney, you determine that a Chapter 13 bankruptcy is right for you, he or she will handle all of the paperwork necessary to file. This process can be complicated if you decide to do it on your own, so it is best to leave it to a professional.

Chapter 11 Bankruptcy

Chapter 11 Bankruptcy is very similar to Chapter 13, except that this is primarily for big businesses (partnerships or corporations).

If you live in Downtown Los Angeles, a bankruptcy attorney will help you fix your business’ finances, create you reorganization plan, and help you through in paying your debts.

Like Chapter 13, Chapter 11 Bankruptcy does not necessarily mean you will lose your assets – it’s even possible to keep ALL of your assets; that, of course, depends on your situation!

Once you’ve paid your debts through the reorganization plan you and your Downtown Los Angeles Bankruptcy attorney had made, you can finally rebuild your finances again.

Chapter 11 Bankruptcy

Chapter 11 Bankruptcy is very similar to Chapter 13, except that this is primarily for big businesses (partnerships or corporations).

If you live in Downtown Los Angeles, a bankruptcy attorney will help you fix your business’ finances, create you reorganization plan, and help you through in paying your debts.

Like Chapter 13, Chapter 11 Bankruptcy does not necessarily mean you will lose your assets – it’s even possible to keep ALL of your assets; that, of course, depends on your situation!

Once you’ve paid your debts through the reorganization plan you and your Downtown Los Angeles Bankruptcy attorney had made, you can finally rebuild your finances again.

What Can A Chapter 11 Bankruptcy Attorney in Downtown Los Angeles Offer You?

Chapter 11 bankruptcy is a financial reorganization process that can be extremely complex. Therefore, it is imperative that an experienced professional handle every step of the filing to ensure that it is successful.

It is important to keep in mind that in order for your business to be able to file for Chapter 11 bankruptcy, it must have the services of an attorney attached to the federal bankruptcy law.