San Fernando Valley, California
Debt problems have become a major issue for many people in San Fernando Valley. A single emergency such as a job loss or medical event can quickly lead to financial disaster, as can a series of small purchases that add up on credit cards. Once you begin to fall behind, late payments and penalty interest rates may push you over the edge. If you find that your finances have become out of control, a San Fernando Valley bankruptcy lawyer may be able to help you to get back on track.
Is San Fernando Valley Bankruptcy Right for You?
Making the decision to file for bankruptcy isn't a decision that should be taken lightly; yet, when bankruptcy is the best choice you should not hesitate to file as quickly as you can so you do not waste money making payments on debt that simply get eaten up with fees and interest. As soon as it becomes clear that your debts are a burden that is too much to bear, contacting a San Fernando Valley bankruptcy lawyer is the best step to take so you can understand your options.
When you meet with a San Fernando Valley bankruptcy attorney, your lawyer will help you to assess your situation to make the decision as to whether to file bankruptcy or not. Your lawyer will then help you to decide if you should file under chapter 7, chapter 11, chapter 13 or some other chapter of the bankruptcy code.
Chapter 7, 11 and 13 are the options most often used by consumers filing for bankruptcy, but there are important differences between them. For instance, chapter 7 is intended for lower-income individuals who pass a means test or who make less than the state median. Chapter 11 is intended for those with very high amounts of debt. Chapter 13 is meant for regular wage earners with regular amounts of debt who want to restructure their debt to repay over time. Your San Fernando bankruptcy lawyer will help you to assess which of these options is going to provide you with the best possible outcome.
Your Bankruptcy Filing
Your San Fernando bankruptcy lawyer will, of course, do more than just help you to decide what chapter of bankruptcy to file under. Your lawyer will be your legal advocate and guide throughout the whole process of filing for bankruptcy. This means your lawyer will help you to submit the paperwork, meet with creditors, draft a repayment plan or otherwise deal with any legal technicalities that arise.
Filing for bankruptcy is nothing to be scared of and the option exists under the law to help people who are in trouble. You should never put your financial future in jeopardy because you don't understand your options. Instead, contact our experienced San Fernando bankruptcy attorneys today for help. Our attorneys can also assist those looking for a Los Angeles, Beverly Hills, Pomona or Pasadena bankruptcy attorney.