There are two main options under the U.S. Bankruptcy Code for people seeking financial relief by filing bankruptcy. Chapter 7 Bankruptcy For people with little income, few assets and mounting credit card bills or medical debt, filing Chapter 7 bankruptcy may be a good option because it allows a discharge of unsecured debt—that means...
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Six common Fears and Misconceptions about Bankruptcy There are two main options under the U.S. Bankruptcy Code for people seeking financial relief by filing  a consumer bankruptcy.  For a free, 30-minute analysis with an experienced bankruptcy lawyer click here. Chapter 7 Bankruptcy For people with little income, few assets and mounting credit card bills...
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A Chapter 13 bankruptcy is very beneficial to the debtor in those situations where an asset or assets need to be protected, such as when a house is in foreclosure or a car is out for repossession. The Chapter 13 bankruptcy will immediately stop the foreclosure or repossession and all the past due amounts...
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In a Chapter 7 bankruptcy the court will discharge most types of debt including credit card balances, medical bills and finance company loans. Some types of debts like recent income taxes, student loans and child support obligations are not removed. On secured debts, like a home mortgage or car loan, you have the option...
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After successfully helping many clients decide whether bankruptcy is right for them, we understand that one consistent fear is the potential loss of assets. You worry that declaring bankruptcy will result in the loss of your home or car. Our bankruptcy lawyers serve clients like you in Orange and Los Angeles counties and throughout...
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