When you are fielding calls from debt collectors, you may be experiencing a great deal of stress- especially if you have no hope of being able to repay the debt you owe. Having your wages garnished, facing foreclosure or being in danger of repossession of your vehicle can be even worse. If you are dealing with any of these problems, contacting a Pomona bankruptcy lawyer may be the best option to be proactive in dealing with your debt.
Is Pomona Bankruptcy Right For You?
When you cannot make your minimum monthly payments or you are in danger of legal action being taken against you, the bankruptcy code provides an important form of protection. An automatic stay is provided to you simply by filing for bankruptcy in order to get the creditors off your back and give you time to deal with your problem.
Once you have filed for bankruptcy protection, the process of resolving your debt issues varies depending on what chapter of the bankruptcy code you file under. Different bankruptcy chapters are intended for different types of individuals and the right chapter of personal bankruptcy for you should be decided in consultation with your Pomona bankruptcy attorney.
For instance, you may need to file a chapter 11 if you have a lot of debt, or a chapter 13 if your income is above the California median or if you have a lot of assets. On the other hand, if you have a low income and limited assets, you may want to avoid any type of required repayment program and file a chapter 7. Your Pomona bankruptcy lawyer will help you to decide what chapter is best.
The Bankruptcy Process
Your Pomona bankruptcy attorney will not only help you to decide on what chapter to file under, but will also do all of the legal work for you during the entire filing process. This includes filing all required papers with the court and helping you to create a repayment plan when one is required by the bankruptcy chapter under which you are filing for protection.
Throughout the entire process, your Pomona bankruptcy lawyer will help you to avoid mistakes that could cause the discharge of your debts to be delayed or that could cause your case to be dismissed entirely.
Your Pomona bankruptcy attorney will also assist you in understanding what is going to happen after bankruptcy, as there are many misconceptions about what the bankruptcy will do to your credit. For instance, while most people believe that bankruptcy always lowers your credit score, this is not the case and sometimes it can help it by stopping multiple creditors from reporting negative information.
When you are ready to stop the collections efforts against you and to get your financial life in order, a phone call to a Pomona bankruptcy lawyer is an important first step. Our experienced attorneys will guide you through the process of filing bankruptcy so you can begin enjoying a new debt free life. Our Pomona bankruptcy lawyers also assist those looking for a Los Angeles, San Fernando Valley, Pasadena, and Antelope Valley bankruptcy attorney.