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  • Credit Counselling or Bankruptcy? What Should You Choose?

    Credit Counselling or Bankruptcy? What Should You Choose?

    Call: 888-297-6203

    When it comes to debt relief, a number of options are available, say Los Angeles based bankruptcy law firm Recovery Law Group lawyers. People who are struggling with financial issues often have a problem trying to choose the best option. You will be surprised to know that there is no right choice when it comes to debt relief since every case is different. The debt relief option depends on the goal of the client. Credit counseling and bankruptcy are often the most sought-after options by debtors. Before deciding which option is better suited for you, it is vital that you understand the pros and cons of each.

    Credit counseling

    In this case, you work with an agency to come up with a plan to pay off your debts. The agency can be a private or a government one. Many times, however, clients end up without any debt relief despite going through the entire rigmarole. This may be because credit counseling agencies might charge you high rates without effectively getting any financial burden reduced. In such cases, it is advised to opt for a non-profit credit counseling agency. The important aspects of credit counseling include:

    • Your debt won’t be reduced, instead, a plan to repay your debt over 3-5 years’ time will be devised.
    • Not much relief is available for secured debts like a mortgage or car loan. Though they may be included, credit counseling plan for debt relief focusses more on unsecured debts like personal loan, credit card, etc.
    • It helps bring your accounts to current and reduces your balance, which ultimately improves your credit score.
    • Additionally, credit counseling is not mentioned on your credit report; only improving credit scores can be seen there.

    Bankruptcy

    Bankruptcy is probably the last option people consider when it comes to debt relief. this is probably because the ill-effects of bankruptcy have been publicized more than its benefits. However, the benefits of bankruptcy often outweigh its drawbacks. Opting for bankruptcy might turn out to be the best decision you have made since it is a legal process where you are no longer liable for any debts that are discharged by the court in bankruptcy. Chapter 7 or liquidation bankruptcy has considerable advantages compared to credit counseling. Here are some facts to consider before choosing any option:

    • Exemptions provided by state and/or federal government can protect most of your assets from liquidated, while still getting rid of your debts.
    • A chapter 7 bankruptcy typically takes 120 days to get a discharge, compared to the credit counseling payment plan of 3-5 years.
    • Any debts that have been discharged through bankruptcy are no longer your responsibility.
    • Secured debts can be attended to through bankruptcy.
    • However, it has a severe effect on your credit score. Filing for bankruptcy appears on your credit report and remains for a duration of 7-10 years.
    • Compared to credit counseling, it is a cheaper option. You only need to pay the bankruptcy filing fee and attorney fee to get rid of your unsecured debts.

    However, you will be surprised to know that people start getting credit card offers just after bankruptcy discharge! This is probably because after getting rid of debts, the debt to income ratio becomes low, making you a viable candidate for fresh credit. If you manage to keep your finances in order, you might even end up securing a new mortgage or car loan before the 7-10 years’ time frame. If you wish to know more about bankruptcy or credit counseling options, you can consult with experienced bankruptcy attorneys Los Angeles at 888-297-6023.


      *Are you more than 60 days past due on your mortgage?

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      By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

    • Business Recovery Through Bankruptcy is Possible

      Business Recovery Through Bankruptcy is Possible

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      In a time when the economy is struggling everywhere, it is not uncommon to find that many small businesses find it hard to stay afloat. Any change in customs duties, fluctuation in prices can send the cost escalating which cuts into the profit margin. Moreover, the high-interest rate can be a huge reason for the escalating debt of small business owners. If you find yourself struggling to manage the finances of your business, it is time to consider bankruptcy as a way out, say Los Angeles based bankruptcy law firm Recovery Law Group lawyers.

      Though Chapter 7 bankruptcy is usually used by individuals to get rid of their debts, this option is available for small business owners too. Filing for bankruptcy under this chapter not only helps get rid of your debts but also provides financial freedom. Other benefits associated with this bankruptcy chapter include:

      • You can continue operating your business despite filing for bankruptcy. This chapter provides a discharge of unsecured debts within 3-6 months of filing. Since most property is protected through exemptions, you might not lose any assets while getting rid of your debt burden.
      • If you are a sole proprietor of the business, filing for bankruptcy and getting subsequent discharge will allow you to get increased cash flow. This can be invested in the business to be used for the growth of the company.
      • All personal unsecured debt including credit card bills, medical bills and overdue utility bills can be discharged through bankruptcy.

      However, before jumping the gun, it is important that you seek consultation with experienced bankruptcy attorneys Los Angeles at 888-297-6023. They can ensure that all the paperwork is in order and that you get the fresh start that could help be the foundation stone of a successful enterprise.


        *Are you more than 60 days past due on your mortgage?

        *Do you own a home?

        Are you currently working?

        By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

      • Know Everything About Bankruptcy Before Opting for It

        Know Everything About Bankruptcy Before Opting for It

        Call: 888-297-6203

        Your finances are something you generally don’t discuss with everyone. If you are facing some monetary problems, your family or a few friends might be able to come to your rescue. If, however, the debt is too much, even they can’t help. Bankruptcy might be the only possible way to legally get rid of debt. Despite the advantages of bankruptcy, it is important that you don’t jump into it without being aware of the details or you might end up blindsided. Los Angeles based bankruptcy law firm Recovery Law Group, suggests that it is always important if you consult experts before coming to such an important decision as a bankruptcy.

        Many people fear bankruptcy as it can have a negative effect on their credit report. However, there is no denying the fact that you can get rid of several unsecured debts through it. If credit card bills, personal loans, and medical bills form the major chunk of your debts then bankruptcy is the best way out for you; though, it is vital that you hire the services of qualified attorneys specializing in the field. This is because bankruptcy is a complex process involving numerous rules and regulations and laws which are not everyone’s cup of tea. A professionally qualified person such as a lawyer can suggest the best way to get rid of debts.

        There are various chapters through which you can get debt relief and the requirement for each varies. Individual debtors can file for bankruptcy under Chapter 7 or Chapter 13. Since every case is different there is no thumb rule to determine which chapter of bankruptcy is ideal for you to apply for debt relief. Having a bankruptcy lawyer can be an asset in this case. If you would like to consult with experienced bankruptcy lawyers Los Angeles, you can call 888-297-6023 to schedule an appointment.


          *Are you more than 60 days past due on your mortgage?

          *Do you own a home?

          Are you currently working?

          By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

        • Is Personal Information Revealed During Bankruptcy?

          Is Personal Information Revealed During Bankruptcy?

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          Unable to meet financial commitment is a cause of embarrassment for most people. Majority of them choose to file for bankruptcy to get rid of debts and often avoid letting the news of their bankruptcy out. Many times, they don’t even discuss these issues with their closest friends. Thus, disclosing it to employers or landlord etc. is out of the question. While filing for bankruptcy, a lot of personal information is shared, and this is a major cause of worry for them. Since bankruptcy filing is public information, people are worried as to what happens to the personal information when they file for bankruptcy. Moreover, since disclosing of probable bankruptcy can have an adverse effect on their job, their worry is genuine.

          According to Los Angeles based bankruptcy law firm Recovery Law Group , when you file for bankruptcy, a notice is sent to all your creditors mentioned in the bankruptcy papers. If you owe money to your landlord, and the name is listed in your papers, they will be notified of your bankruptcy. However, you don’t need to worry about other personal information supplied along with bankruptcy papers to be disclosed during the proceedings. Since your tax identification number or social insurance number is not provided in the bankruptcy papers, you don’t have to worry much.

          Bankruptcy is aimed to provide financial relief to people who have been struggling with debt. A qualified bankruptcy lawyer will ensure that not only do you get a timely discharge of debts but also that your personal information is protected. If you wish to make maximum use of bankruptcy relief options, you need to call at 888-297-6023 to speak with experienced bankruptcy lawyers Los Angeles.


            *Are you more than 60 days past due on your mortgage?

            *Do you own a home?

            Are you currently working?

            By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

          • What is the Role of a Trustee and Bankruptcy Administrator?

            What is the Role of a Trustee and Bankruptcy Administrator?

            Call: 888-297-6203

            Bankruptcy is a complicated process. Since most people have lived a sheltered life, dealing with financial problems which have gone out of hand, and the legal jargon involved in bankruptcy can be a bit too much. It is therefore advised to consult experienced lawyers if you are contemplating bankruptcy as a way out of the huge burden of debt. If you wish to know more about bankruptcy, you can call 888-297-6023 to speak with qualified bankruptcy lawyers.

            As per lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, the bankruptcy trustee and bankruptcy administrator probably play the most important role in your bankruptcy. Despite bankruptcy being a federal legislation, state laws regarding the same also play an important part. Apart from the states of Alabama and North Carolina, where Bankruptcy Administrators oversee the bankruptcy proceedings, all the remaining states have a U.S. Trustee as the person who oversees the bankruptcy case.

            The bankruptcy trustee is responsible for supervising your case. Additional duties involve liquidation of non-exempt property to pay your creditors, administering the money as per the repayment plan to the creditors, etc. Bankruptcy administrators also carry out the same work, but they do not do so directly. They have a panel of private trustees to do the work. The administrator oversees that all the transactions is carried out properly as well as checks the conduct of debtor and creditors.

            Bankruptcy can be quite complex, and you certainly cannot afford to make mistakes. If you wish to get a discharge of your debts successfully, you should trust qualified bankruptcy lawyers Los Angeles to handle your case.


              *Are you more than 60 days past due on your mortgage?

              *Do you own a home?

              Are you currently working?

              By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

            • Bankruptcy Myths Busted

              Bankruptcy Myths Busted

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              Despite bankruptcy being one of the best ways to get rid of debts, there are numerous myths associated with bankruptcy because of which people are wary of filing for it. However, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, it is important to sift fact from fiction, especially about something as important as a bankruptcy.

              Here’s a look at some of the most common myths associated with bankruptcy.

              #1 If you have a job, you can’t file for bankruptcy

              In the case of Chapter 7, debts are discharged, after the filer’s non-exempt property is sold off to pay your creditors. However, Chapter 13 bankruptcy involves repaying some portion of your debts to the bankruptcy trustee, as per the court-approved repayment plan. Apart from this, additional costs include filing fees, the fee for credit counseling course as well as the attorney’s fees. Regular payments as per your plan are essential in this case.

              If you lose your job and find it difficult to make payments, you can ask the judge to modify your payment plan. Throughout the plan, your total repayment amount will remain the same, however, the payments can decrease when required and increase when you can afford to make payments. When you file for bankruptcy you are required to provide your last two months’ pay, your past six months of bank statements, as well as last four years of tax returns.

              #2 Bankruptcy makes you bad

              Despite insurance cover, a huge amount of medical bills can send anyone towards bankruptcy. It is not surprising to note that most people who file for bankruptcy owe huge debts towards medical bills. Majority of these people are working citizens who regular pay taxes. When you file for bankruptcy you can get rid of several debts including credit card bills, personal loans, etc. Majority of the debts catered to in a Chapter 13 bankruptcy are secured ones like mortgage, automobile debt, child support, alimony, and taxes. A small percentage of your repayment amount goes towards settling your unsecured debts. After completion of the repayment plan, any unsecured debt which remains is discharged, with creditors sometimes end up receiving nothing.

              People can get rid of their debts by other methods too. Seeking a reduction in their debts might make a better option than filing for bankruptcy. If possible, bankruptcy should always be the last option for people to address their debts. You need to ensure that the timing of your bankruptcy is perfect. It is better to wait some time if you are expecting more medical bills in the near future. A qualified bankruptcy attorney can suggest the best time to file for bankruptcy as well as the chapter you would benefit from. If you are looking for a consultation, you can call 888-297-6023.

              #3 Your credit is ruined by bankruptcy

              Bankruptcy indeed has a negative effect on your credit report; however, the effect is not permanent. In most cases, people who file for bankruptcy probably have bad credit which can only go one way. Bankruptcy wipes your slate clean and thus, in the long run, filing for bankruptcy will improve your credit score by getting rid of bad credits. In the case of Chapter 7 and Chapter 11, bankruptcy remains on your credit report for 10 years while Chapter 13 bankruptcy Los Angeles appears for 7 years. Despite this, filing for bankruptcy will probably help you in getting rid of debts which you had no way of clearing.

              Filing for bankruptcy might cause you to have some difficulty in getting credit after discharge because declaring bankruptcy puts you in the credit risk bracket. Despite this fact, bankruptcy filing helps you get rid of the huge mountain of debt and provides your disposable income for your use. Responsibly managing your money after you get your bankruptcy discharge goes a long way in rebuilding your credit. Since a credit check is done usually when you are seeking employment or while making big purchases like house or vehicle; if you are already in possession of all, bankruptcy won’t have much effect on you, except getting rid of debts. It is therefore vital that you consult experienced bankruptcy attorney to get hold of your finances while divesting you of your debts.


                *Are you more than 60 days past due on your mortgage?

                *Do you own a home?

                Are you currently working?

                By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

              • Does Bankruptcy End Child Support Obligations too?

                Does Bankruptcy End Child Support Obligations too?

                Call: 888-297-6203

                Despite being one of the best ways to get rid of debts, bankruptcy does not clear you of all your financial obligations. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, elaborate that certain debts survive bankruptcy, no matter which chapter of bankruptcy you have filed under. These obligations include child support debt and alimony. Whether you chose to file for bankruptcy under Chapter 13 or Chapter 7, you will not be off the hook for paying child support and alimony dues to your spouse. Additionally, any fines due to restitution order by a judge, compensation for injuries and damage caused by DUI, etc. are also not negated. Bankruptcy does not affect any of these debts and they need to be paid in full despite bankruptcy discharge.

                Before filing for bankruptcy, it is important to be aware of what debts can be discharged under bankruptcy and which of those will survive bankruptcy. This is vital because if you are filing for bankruptcy to get rid of debts that will end up survive bankruptcy, the entire process will be in vain. To know more about debts which can be discharged in bankruptcy Los Angeles, you should consult qualified attorneys. For consulting with experienced bankruptcy lawyers, you can call 888-297-6023.


                  *Are you more than 60 days past due on your mortgage?

                  *Do you own a home?

                  Are you currently working?

                  By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                • Different Types of Bankruptcies

                  Different Types of Bankruptcies

                  Call: 888-297-6203

                  Bankruptcy is one of the most sought out ways to get rid of unsecured debts that people have amassed over a period. Finding themselves in a financial soup can cause panic in people. Los Angeles based bankruptcy law firm Recovery Law Group, advises that there are a number of options when it comes to a bankruptcy filing. The most common chapters include Chapter 7 and Chapter 13. While the former is known as Liquidation Bankruptcy and involves the selling of the non-exempt property to pay your dues; the latter, also known as Wage-earner’s plan, makes sure that the creditors get paid some portion of their dues through a repayment plan. Other chapters of bankruptcy have rarely found their due. the various other bankruptcy chapters include:

                  • Chapter 9

                  This chapter caters to get rid of debts of municipalities, cities, and towns when the conditions turn out to be insolvent.

                  • Chapter 11

                  It is the 3rd most common type of bankruptcy chapter and is used to reorganize the business debts and assets of the bankruptcy filer.

                  • Chapter 12

                  This provision is available exclusively to fishermen and farmers for adjusting their debts. Though it is slightly difficult, it is perhaps the best option available.

                  • Chapter 15

                  This chapter is to assist those debtors who have some debts within the U.S. and some outside the country.

                  Considering that several options are available for a bankruptcy filing, consulting with qualified attorneys Los Angeles is important before you decide to file for one. You can call 888-297-6023 to schedule an appointment with the best bankruptcy lawyers.


                    *Are you more than 60 days past due on your mortgage?

                    *Do you own a home?

                    Are you currently working?

                    By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                  • Vehicle Repossession in Bankruptcy

                    Vehicle Repossession in Bankruptcy

                    Debts against which the creditor has collateral are known as secured debts. Examples of secured debts include automobile loan, mortgage, etc. Since both these are essential for living a comfortable life, it is important that you are not behind on payments for such loans. Having a vehicle has become a necessity these days, considering that commuting time is considerably reduced due to them. Missing payments on your automobile loan can have severe consequences. The lender can repossess the vehicle if you end up missing payments. However, having experienced lawyers like those of Los Angeles based bankruptcy law firm Recovery Law Group can help stop such proceedings effectively.

                    You will be surprised to know that repossession is far easier than foreclosing on your home or threatening with a lawsuit in case of credit card dues. Vehicle insurance is mandatory in some states. If you neglect the insurance coverage of the vehicle and are current with the loan company, you might still end up losing your vehicle. Generally, if you miss one payment, you get a reminder call to make payment along with the late fees. However, if you fail to make a payment on the due loan, the lender can act against you, which includes repossessing the vehicle.

                    Can you protect yourself against creditor action?

                    Though defaulting on the loan provides the lender a chance to repossess the vehicle, there are certain protections in place for the owner too. These include:

                    • The lender (or any other person acting on behalf of the lender) cannot enter your closed garage without permission.
                    • They cannot threaten or use force against you.
                    • Violation of any of the laws can result in a legal damage case against them.
                    • Any personal property within the vehicle when it is seized by the lender remains your property.
                    • The lender must ensure the safety of any such property and provide you with details regarding its retrieval.

                    In case you decide to not pay the arrears and repossession cost, the lender has the right to keep or sell the repossessed vehicle. However, they need to intimate you when and where the vehicle will be auctioned off. You can bid for your vehicle if you choose to. It is important that the vehicle is sold for a fair market price. In case, the lender sells it below market rate, you can claim damages against the lender and argue for a deficiency judgment. If you are behind on your automobile loan payments and are on the verge of vehicle repossession, it is important you call 888-297-6023 to schedule an appointment with adept bankruptcy attorneys Los Angeles before any legal action is taken against you.


                      *Are you more than 60 days past due on your mortgage?

                      *Do you own a home?

                      Are you currently working?

                      By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                    • Points to Consider While Contemplating Bankruptcy

                      Points to Consider While Contemplating Bankruptcy

                      Call: 888-297-6203

                      Managing your finances is easier said than done. Many people find it difficult to manage their financial problems leading them to consider various debt relief options like debts settlement, debt consolidation, and even bankruptcy. Sometimes, just adjusting your spending patterns is enough to manage your debts, while sometimes, you might require the assistance of professionals to get rid of your debts. Though bankruptcy has earned a bad name, according to Los Angeles based bankruptcy law firm Recovery Law Group, it is probably one of the better ways to manage your situation. However, before deciding to go ahead with it, you should be aware of the pros and cons of bankruptcy. if you are contemplating bankruptcy, the following pointers will come to your aid in making a conscious decision:

                      • How much time will you require to pay your debt?

                      Most common bankruptcy chapters for individuals include Chapter 7 and Chapter 13. While the former gets you discharge on your debts in 3-6 months of filing, you can lose your non-exempt property. In the case of the latter chapter, you end up repaying a portion of your debts over a course of 3-5 years. In case, you don’t have much debts and can pay them back with adjustment in your monthly expenses within a reasonable time frame, you should opt for alternative debt relief options. If, however, you won’t be able to pay back your debts, bankruptcy might be the best possible way out.

                      • How big is your debt?

                      If your debt is manageable i.e. just a couple of thousand dollars, you could easily manage it without filing for bankruptcy. However, even this amount should not be neglected, and efforts should be made to pay it back since creditors can cause numerous problems.

                      • How much of your debt is dischargeable?

                      Before considering bankruptcy to get rid of your debts, it is important to know which of your debts can be discharged. Secured debts like mortgage and auto loan are not included in bankruptcy. Additionally, priority debts like child support and alimony or certain court-ordered taxes (compensation for damages due to personal injury claims, etc.) also won’t be discharged. If these constitute a major chunk of your debts, filing for bankruptcy won’t resolve your problem.

                      • Do you risk foreclosure or repossession?

                      Creditors who are about to foreclose on your property can cause you to think of bankruptcy as a way out. Filing for bankruptcy puts an automatic stay in place which prevents foreclosure and repossession, providing you with ample time to catch up on a way to manage your finances.

                      Admitting you have financial problems is the first step to get control of the situation. Discussion with experienced bankruptcy lawyers Los Angeles can help you conclude whether you should opt for bankruptcy or some other debt-relief options to manage your debts. In case you want to put your money problem away, consult with experts at 888-297-6023.


                        *Are you more than 60 days past due on your mortgage?

                        *Do you own a home?

                        Are you currently working?

                        By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.