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Bankruptcy Facts in San Fernando Valley

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, we 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
  • Layoffs
  • 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.

Complex Bankruptcy Laws

Since the creation of new bankruptcy laws in 2005, it’s more important than ever to consult with an attorney who deals exclusively with filing bankruptcy cases. Banks used their powerful lobby to include numerous provisions in the new laws to make it more difficult to file bankruptcy in California, and also limit what debt can be eliminated.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) requires a Means Test, Credit Counseling, and Financial Management Certificates to be completed before a discharge of debts can be ordered by the Court. Satisfaction of the Means Test can be very complex and the most important part of your case.

Bankruptcy – More Than Just Filing Forms

Bankruptcy is no longer a simple matter of just filing some forms. Only an experienced Bankruptcy lawyer can provide you with all of the answers you need. The good news is that most people can still be eligible to file for bankruptcy protection without losing their business, home, autos, cash, 401k, and many other assets.

We have helped thousands of people avoid millions of dollars in debt either through bankruptcy or alternatives to bankruptcy. We can help you too.

Contact our Encino bankruptcy lawyers for a free consultation today.

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