Let’s face it, when it comes to the economy, you don’t need us to tell you just how bad things have been over the last few years. Ever since the stock markets and banks collapsed a few years ago times have been very difficult. The cost of living seems to increase on a weekly basis, while earnings and incomes simply do not. Businesses all over the world have suffered immensely, with many of them going under or being forced to eliminate employees as they simply cannot afford to keep them on.
If you are struggle with debt and you don’t see a way out, you should seriously consider contacting our Glendale bankruptcy attorney and get free bankruptcy advice. California residents and businesses have taken a real hit due to the recession. Movie studios and music labels have downsized; which is why bankruptcy service from a bankruptcy attorney in Glendale are in high demand. The need and demand for a Los Angeles bankruptcy law firm has never been higher, so if you need to file bankruptcy to eliminate debt, you should call and talk to our experienced bankruptcy attorney. We can help you eliminate debt and stop foreclosure.
What Exactly Is Bankruptcy?
In basic terms, bankruptcy is a type of legal process allowing you to eliminate unsecured debts and continue to pay secured debts for car[s] or your home. As a practical matter, filing bankruptcy allows you to wipe out your credit card debt, medical bills, old IRS debt, and any personal loans that are not tied to a car or home [or otherwise secured]. At the same time, you can usually keep your car and home and personal belongings as long as you can afford to pay for any loans tied to them [secured loans].
Do I Qualify for Bankruptcy?
Not everybody and every business can automatically qualify and file for bankruptcy. There are a number of factors that must be taken into consideration before a person is able to determine whether or not they qualify for bankruptcy. Before a person is able to file for bankruptcy, they must meet the absolute minimum of the following criteria to be able to file bankruptcy:
- They must owe at the very least $1,000.
- They have to be unable to meet any regular payments they may have set up when they are due.
If any of the above applies to you and you find yourself in need of a Glendale bankruptcy lawyer, then just remember that our Glendale bankruptcy lawyers are here to make things better for you. Contact one of the premiere Los Angeles bankruptcy law firm, Consumer Action Law Group. We will help you get out from under your debt and leave behind any financial difficulties you may be experiencing. The first call with our attorneys and the first meeting is free; and it is always worth knowing what your options are when it comes to dealing with your debt.