North Hollywood, California
The stress of dealing with debt collectors can cause tension in your life, unhappiness in your relationships and a whole host of other problems. If you are behind or cannot make your payments, you need to get help now in being proactive about dealing with your debt. While not the right solution in every case, bankruptcy may sometimes be the single best thing you can do to resolve a bad financial situation. A North Hollywood bankruptcy attorney can help you to evaluate your own finances in order to determine if bankruptcy is the best course of action for you.
Considering North Hollywood Bankruptcy
Bankruptcy is a drastic step, without question, but it is also the right step to take if you are wasting money on payments but not making any headway, or if you are in danger of losing your home or having your wages garnished. Declaring bankruptcy sooner rather than later can help you to avoid throwing good money after bad and may be able to help you save your house, car or retirement accounts.
When you begin thinking about bankruptcy, contact a North Hollywood bankruptcy lawyer to learn more about how bankruptcy will impact your credit and your future financial picture. You may be surprised to learn that bankruptcy could actually cause your credit score to go up in certain cases, especially if you are getting hit with a report of late payments every single month. Your North Hollywood bankruptcy lawyer will also help you to understand the differences between chapter 7, 11 and 13 so you can decide which of these different types of bankruptcy filings is right for you.
Filing for North Hollywood Bankruptcy
After you have been armed with information to make an informed choice, your North Hollywood bankruptcy attorney will assist you in filing the paperwork for the relevant chapter of bankruptcy that is right for you. There are a number of forms you must fill out and it is essential that detailed and correct information about your assets and debts is provided in order to avoid undue delays or problems with certain debts not being forgiven.
Following the bankruptcy filing, an automatic stay is immediately in effect so creditors cannot contact you or collect from you. This provides you with immediate relief so you aren't hassled by creditors as the bankruptcy goes on.
Your North Hollywood bankruptcy lawyer will then help you with the next steps of the process, which differ depending on what chapter you filed under. For instance, if you filed under chapter 13, your attorney will assist you in developing a plan to repay your creditors off at least a portion of what you owe over the next three to five years.
Throughout every step of the bankruptcy process, your North Hollywood bankruptcy attorney will ensure your legal rights are protected. Contact our experienced attorneys today to learn more about your rights and about how we can help you. Residents looking for an East Los Angeles, West Hollywood, Los Angeles, Beverly Hills or Culver City bankruptcy attorney can also contact us today to schedule a consultation.