affordable bankruptcy Los Angeles

Are You Considering Bankruptcy?

Call: 888-297-6203 Debtors file for bankruptcy when they have excessive debt and want a fresh financial start, but whether filing is the best option for you, depends on many factors. Is bankruptcy the best choice? Bankruptcy filing impacts your credit report for a long time, so it's better if you try to solve your debts without filing for bankruptcy. Which chapter is better? Chapter 7 liquidation is best for those who can save their assets from liquidation by exemptions and have income low enough that they qualify for chapter 7 bankruptcy filing.  In contrast, chapter 13 bankruptcy, works [...]

2023-06-27T07:27:13+00:00
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All You Need To Know About The Chapter 7 Bankruptcy Procedure

Call: 888-297-6203 Chapter 7 bankruptcy procedure is a commonly used bankruptcy chapter amongst the US residents. As per stats, over 70% of bankruptcy is applied through Chapter 7. Even though it is popular and used in the majority of the United States, it is not necessarily the best option available for you. To make a wise decision about whether Chapter 7 is appropriate for your situation, we list below everything you need to know about the Chapter 7 bankruptcy procedure- What kind of debts are discharged? Most of the debts that do not have a backing or a [...]

2023-06-05T13:36:13+00:00
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Is It Possible To File For Bankruptcy Twice?

Call: 888-297-6203 If there is a proper time between two filings, a person can file for bankruptcy twice. They also need to see if the first case was discharged. A normal waiting period of 2 years is applied but it gets longer depending on the type of bankruptcy you filed first and the one you are planning to file now. The waiting period to file for a second time is affected by factors such as the result of the first bankruptcy (whether it was discharged or dismissed), the type of bankruptcy that was filed the first time, the [...]

2023-11-30T07:05:23+00:00
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All You Need To Know About Filing Bankruptcy Via Chapter 13

Call: 888-297-6203 Chapter 13 way of filing for bankruptcy can be one of the smoothest ways of minimizing debt, safeguarding assets, and starting a new chapter in your life. This kind of bankruptcy filing is suitable for filers who have a strong and reliable job, are looking to grow in their employment, and can sustain with same or higher pay scale for the next 5-10 years. The basic logic behind Chapter 13 is to restructure your debts and dilute them with a better repayment plan to ensure debt payoff looks more reasonable and easier. This helps in avoiding [...]

2023-06-05T13:39:16+00:00
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How To Prepare For Your Bankruptcy?

Call: 888-297-6203 When an individual find themselves swimming in debt, it is then that they realize that bankruptcy is the only available option.  There is a list of do's and don'ts that you need to follow if you are planning to file for bankruptcy. 1) Don'ts If you think you might file for bankruptcy, never incur a new debt before filing. It might get difficult to discharge a debt that you might incur just before filing. Filing bankruptcy before a repossession or a foreclosure is a better option. Failing to do so might result in permanent loss of [...]

2023-05-31T13:38:52+00:00
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What Is Chapter 7 Debt Discharge?

Call: 888-297-6203 In chapters 7, 11, 12, and chapters 13 of the US bankruptcy code, some or all of your debts are discharged, that is you will not be liable to pay it back and the creditors you owe like the credit card company or hospitals will not be able to take collection actions against you. You are no longer liable for the debt as it is permanently discharged by the bankruptcy court. How does the court discharge your debt of not taking your money?  They give you debt relief in turn for your non-exempt properties. Chapter 7 [...]

2023-03-30T11:44:19+00:00
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Exempt And Non-Exempt Properties In Chapter 7 Bankruptcy Case

Call: 888-297-6203 People file for bankruptcy for getting protection against their creditors. And the federal law has made a bankruptcy code and Bankruptcy court to handle all the cases. When you apply for bankruptcy it is known that some of your assets will go under Bankruptcy estate that will be handled by a bankruptcy trustee appointed to your case. He or she will sell the bankruptcy estate and distribute the money from it to your creditors to settle your debts, the rest unpaid debts will be discharged thereafter. In chapter 7 liquidation Bankruptcy case all of your property [...]

2023-06-05T12:22:50+00:00
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Read Chapter 7 Bankruptcy Exemptions

Call: 888-297-6203 People who are filing for bankruptcy do not make their decision lightly as it will affect them severely. They file because they are in an extreme financial crisis and want a new start but especially in chapter 7 bankruptcy case they fear losing all their assets to the court in return for their discharge of debts. This is the reason there is a bankruptcy law for exemptions that is properties that are necessary for a person to start fresh after the bankruptcy case is exempted. Assets like a car, home, furniture, etc are exempt properties. Chapter [...]

2023-01-19T07:01:58+00:00
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Corporations And LLCs Can Use Chapter 7 Bankruptcy To Get Rid Of Debts

In the case of business bankruptcy, an outsider is responsible for the liquidation of your assets and settling of the debts. A corporation or an LLC can file under chapter 7 business bankruptcy which is different from personal bankruptcy under the same chapter. As per lawyers of Los Angeles based law firm  the business stops operations and is handed over to the trustee for liquidation under the court’s instructions. The business assets are liquidated to repay the creditors. Since exemptions are not applicable here, the entire company can be liquidated. Once the liquidation of assets takes [...]

2023-04-21T12:09:07+00:00
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Bankruptcy And Taxes

Call: 888-297-6203 In most cases, tax debt is still to be paid by the debtor even after they have filed for bankruptcy but there are some circumstances where it can get discharged. It is highly unlikely for a tax debt to be discharged when filing for chapter 13 as tax debt with other types of debts comes under the repayment plan but on the other hand when filing for chapter 7, debts like medical bills, credit card debt and sometimes federal tax debt is also discharged. Should I file for bankruptcy for tax debt? Some types of tax [...]

2023-05-30T13:14:26+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.