Santa Monica, California
Being in debt can cause you to experience stress and to have difficulty achieving financial goals such as buying a house, saving for retirement or paying for college for your kids. When debt gets out of control, however, the problems can become much bigger. You may face calls from creditors and debt collectors, lawsuits and judgments against you, wage garnishment, liens on your property, repossession of your vehicle or foreclosure. In these situations, filing for bankruptcy with the help of a Santa Monica bankruptcy lawyer is often the only way to get your finances back in order.
When Filing Santa Monica Bankruptcy is the Right Choice
Bankruptcy is not a quick fix and easy solution that should be chosen lightly. However, when you really are struggling and cannot make minimum debt payments or are otherwise overburdened by debt that is not repayable, bankruptcy is the best and sometimes only viable option available to you.
Bankruptcy allows you to discharge debts that cannot be paid, either after a sale of your assets under chapter 7 or after fulfilling the terms of a repayment plan in chapter 11 or chapter 13. Bankruptcy also puts an automatic stay into place as soon as you file the forms and paperwork, which can stop repossession or foreclosure in its tracks and allow you to save your car or your house.
No matter what chapter of bankruptcy you file under, there are protections provided in the bankruptcy code to help you to keep your home, your retirement accounts and other important assets that help to secure your financial future. As such, bankruptcy is often the best thing you can do when your debt gets unmanageable, so you can avoid losing money or putting your future financial stability at risk.
The decision of whether bankruptcy is your best course of action or not is a personal one, and the answer will depend on your income and the amount of debt that you owe and are unable to repay. An experienced Santa Monica bankruptcy lawyer will help you to understand all of the different choices you have and will assist you in making the right one.
The Bankruptcy Process
The bankruptcy process will differ depending on what chapter of the bankruptcy code you file under. For instance, you may need to create a repayment plan and have your creditors approve it if you file for chapter 11 or chapter 13. Your Santa Monica bankruptcy attorney will explain the entire process to you so that you know exactly what to expect. Your attorney will also help you to meet all procedural obligations and requirements so that the process goes smoothly.
Getting Legal Help
When you are ready to take the right step to find a permanent solution to your debt problems, contact our experienced Santa Monica bankruptcy lawyers today. If you are looking for a Los Angeles bankruptcy attorney or need help with bankruptcy in Culver City, Hollywood, Pomona, Pasadena or the Antelope Valley, our experienced bankruptcy attorneys can also provide you with top notch legal advice.