BANKRUPTCY ATTORNEY in Los Angeles, Riverside, and Ventura County -
WHEN IS IT RIGHT

Bankruptcy should be a decision that is made after careful consideration of all factors and consulting with a qualified attorney. Generally speaking, a person who does not earn enough money to pay all of their creditors is qualified for either a chapter 7 or chapter 13 bankruptcy . Every case is different and a free consultation should be set to determine if a bankruptcy is the right move for your specific case.

Some alternative to bankruptcy are:

Negotiate your debt:

Contact your creditor(s) and ask for their cooperation, and try to work out different payment arrangements or options. For example, if you are overwhelmed by credit card debt, get in touch with the company, explain the situation, and ask to temporarily reduce your minimum monthly payments, waive late charges, and extend the payment period – with smaller payments at "no" interest.

Debt consolidations:

Consolidating your debts may be another option. You may consolidate your debts either by turning to the credit counseling services, balance transfers, or home equity loans.

Credit counseling services:

These are nonprofit organizations that will work with you and your creditors to devise a more manageable repayment plan suited to your finances.

Balance transfers and home equity loans:

You may consolidate all outstanding debts into a single loan (often through credit card balance transfers and home equity loans). This approach relieves you of being saddled with debt from multiple creditors, since you will be making payments only to one lender.

Liquidate assets:

A third solution might be to sell any of your assets that have a resale value and apply the proceeds to your debt. Any balance due can be negotiated with the creditor.

There are a number of solutions for eliminating or reducing debt. Talk to a financial advisors that will help you tailor a plan that is right for you.

Bankruptcy Attorney for Los Angeles, Riverside, and Ventura County

Contact us if it's right for you or you are not sure if it right for you.