Bankruptcy Attorney in Woodland Hills CA
HOW TO DEAL WITH BANKRUPTCY
Bankruptcy is not a one-size-fits-all solution. In addition to explaining Chapter 7 Bankruptcy and Chapter 13 Bankruptcy, an experienced bankruptcy attorney in Woodland Hills CA will help you explore bankruptcy alternatives, methods for stopping foreclosure of your home, and even ways to just buying time. Simply understanding your options will help ease your stress.
A LAWFUL WAY TO GET BACK ON YOUR FEET
You may be in the toughest stage of your life right now. With more debt than you ever imagined, and no way to realistically pay it off, you may find yourself in this situation for many reasons:
- Medical bills
- Risky investments that didn’t pay off
- IRS Tax debts (Don’t apply for “Offer and Compromise” before consulting us)
- Dropping home values, negative equity, and potential foreclosure
- A Court judgment or wage garnishment
- Outrageous credit card fees and penalties
- Business failure
- High interest Credit Card Debts
There’s only one thing you need to know: regardless of what contributed to your financial problems, bankruptcy is a legal way to get back on your feet. It’s one of the few laws remaining in force designed to help consumers, not financial institutions. Hiring a bankruptcy lawyer in Woodland Hills will rightly guide you in filing for bankruptcy.
Debt Relief in Woodland Hills CA
ALTERNATIVES TO BANKRUPTCY
Sometimes what seems like a bankruptcy alternative only delays the inevitable and ends up causing additional stress, suffering, and harm. But contacting Nader & Berneman for debt relief in Woodland Hills CA will save from any further stress. Some of these options may include:
Debt Relief and Settlement
Debt settlement involves making an offer to immediately pay off a debt with a reduced lump sum (for example, 50% of the total amount owed) or just lowering the interest rate. This can work if you have money available to pay the lump sum. The creditor understands that your only other alternative is to file for bankruptcy, in which case they may receive far less or nothing.
This works best when you are dealing with only a few larger debts rather than multiple smaller debts, especially if the debts are old and being paid off slowly. And using a debt relief attorney in Woodland Hills can maximize the benefit of this approach, by rightly guiding you through the process.
Credit Counseling Services
When high interest rates and penalties are making it difficult for you to pay off your debts, a consumer credit counseling service may be helpful. In addition to helping you develop and stick to a realistic budget, they can often negotiate with your creditors for more favorable terms (interest rates and waved penalties). Sometimes credit card companies are more likely to respond to such requests when made by a consumer credit organization – it tells them you are serious, are seeking help, and are getting advice on how to meet your obligations. However, there is no guarantee a credit card company will agree to this, and they are not obligated to do so.
Debt consolidation may help if you can obtain a lower interest loan to pay off all of your higher interest debt. However, if you already have a lot of debt, this usually requires borrowing against an asset (such as a home or land) that you pledge as collateral. You are essentially converting your unsecured debts (credit cards for example) to secured debt (perhaps a second mortgage). While the interest may be lower, the risk of losing your property increases should you be unable to make timely payments. If there’s any chance you may eventually end up filing for bankruptcy, be sure to discuss this with one of our San Fernando Valley bankruptcy lawyers.
Contact our debt relief in Woodland Hills CA today to determine what alternatives may be most helpful for you.
Chapter 7 Bankruptcy in Woodland Hills CA and Legal Judgments
If you are currently thinking of filing for Chapter 7 bankruptcy, you have undoubtedly accumulated an amount of debt that you’re not comfortable with. It’s also likely that you’re being inundated by calls from debt collectors, at home and at work.
In a worst-case scenario, some of your creditors may have filed lawsuits against you and a judge has awarded them a judgment. This judgment is basically the court ordering you to pay what you owe a creditor. But a judge’s order doesn’t make the money to magically appear in your bank account.
If you find yourself hounded by creditors, and see no relief in sight, you need to speak to an experienced Chapter 7 bankruptcy attorney in Woodland Hills CA. It’s time to take control of your life again. Nader & Berneman has spent more than two decades helping hardworking people like you get out from under suffocating debt so that they can get on with their lives.
Chapter 13 Bankruptcy in Woodland Hills CA and Your Property
Chapter 13 remains one of the most powerful tools available to stop the foreclosure process immediately and save your home. It can be helpful in many ways like:
- You may obtain a loan modification, while in a Chapter 13 (in fact you have a better chance).
- Allows you to keep your assets.
- You may eliminate Tax debt.
- Your unsecured debts may be eliminated
- You can pay back certain non-dischargeable debt without interest.
- Lower your auto loan balance to its fair market value and reduce the interest rate.
Too often lenders have provided temporary loan modifications which they call “Trial Loan Modification”, which are then denied after many modified payments have been made by the homeowner. In essence the lenders are covering their cost while the property values are on the rise, to maximize their profit when they are ready to foreclose on your property.
Over the past two decades, we have seen too much abuse by lenders. It is time for you to stand and claim your legal rights and save your home. We will fight with you every step of the way.