Personal Bankruptcy Options

When in debt, sometimes it is necessary to file for bankruptcy and eliminate credit cards, medical bills, personal loans, and start fresh. The process of filing for bankruptcy can be difficult, and it is best to talk to experienced bankruptcy attorneys to help make the decision and advice about personal bankruptcy options. Strong bankruptcy attorneys can analyze your situation and advise you on the best course of action. By filing bankruptcy, you can stop wage garnishments, wipe out your debts, and reverse judgements from lawsuits. Bankruptcy attorneys can handle the complex legal issues and provide solutions to your debt problems.

What Personal Bankruptcy Options Are Open to an Individual Who Wishes to File for Bankruptcy?

A bankruptcy lawyer will advise an individual who wants to file for bankruptcy on the chapter of bankruptcy that can be filed and their pros and cons. A Los Angeles Bankruptcy lawyer will also advise the individual on the best chapter to file according to the local rules in California and the area where you live.

File Chapter 7 Bankruptcy

Filing Chapter 7 allows a debtor to eliminate debts. Chapter 7 benefits include:

  • Stopping foreclosure and eliminating debts such as personal loans and credit card debt. In most cases, filing Chapter 7 bankruptcy immediately stops foreclosure.
  • Filing Chapter 7 bankruptcy stops collection calls and creditors immediately.
  • Chapter 7 is an efficient way of stopping wage garnishment and getting a fresh start for credit card and medical debts that are too much to pay back.

File Chapter 13 Bankruptcy

Filing Chapter 13 bankruptcy enables individuals who have a regular income to create a plan to repay their mortgage or automobile debts or part of their debts. Filing Chapter 13 allows debtors to propose a plan for repayment through installments to creditors over a few years, usually three to five years. The benefits of chapter 13 includes:

  • Filing Chapter 13 bankruptcy will immediately stop foreclosure.
  • Filing Chapter 13 will eliminate medical bills, personal debt, and credit card debt.
  • In some cases, filing Chapter 13 bankruptcy eliminates a lien such as a second or third mortgage on a property.
  • Filing Chapter 13 bankruptcy halts collection calls and creditors immediately.
  • A chapter 13 type of bankruptcy is also an efficient way of stopping wage garnishment and can allow recovery of a repossessed car.

If you reside in Los Angeles, you can meet our Los Angeles bankruptcy attorney to give you free information on bankruptcy benefits best suited for your situation. Our bankruptcy attorney in Los Angeles can provide an in-depth legal evaluation of the situation before you pay for any services to ensure that you are well informed of the best decision for your circumstances.

Free Bankruptcy Advice

Getting advice from our bankruptcy lawyer is the best step to take before you make any decision, and filing may be the best way for you to get out of debt in the shortest possible time. Call our bankruptcy attorney Los Angeles today at 818-254-8413.

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