If you are facing wage garnishment, foreclosure, or you are drowning in debt, you need to pursue every legal option at your disposal, including bankruptcy.
At Rodriguez Law Group, Inc. we are dedicated to helping people get out from under debt. No matter your circumstances, we will take the time to sit down with you and carefully explain the benefits and protections offered by bankruptcy.
We provide our bankruptcy attorney representation throughout Southern California, including San Gabriel, West Los Angeles, Santa Monica, Beverly Hills, Westlake, Santa Barbara, and their surrounding areas.
Interested in how our bankruptcy attorneys can help you? Contact us: 626-888-5206.
Successful Bankruptcy Help
Typically, consumers struggling with debt will choose to file either Chapter 7 or Chapter 13 bankruptcy. Understanding the differences between the two is crucial in order to figure out which one will serve your needs better.
Chapter 7 Bankruptcy
Essentially, during Chapter 7, a bankruptcy trustee will sell ― or liquidate ― your assets and divide the proceeds between your creditors. Importantly, some of your assets can be protected from this process, including a predetermined amount of equity in your home and some personal belongings. Following a Chapter 7 bankruptcy, the majority of your debts will be discharged, meaning you no longer are responsible for paying them.
Chapter 13 Bankruptcy
Alternatively, a Chapter 13 bankruptcy involves the reorganization of your debt and a repayment plan that generally lasts three to five years. In many cases, you will even be able to discharge a certain percentage of unsecured debt such as credit card debt.
Also, unlike Chapter 7, you do not have to surrender your assets to pay creditors, which means you will likely be able to keep your property so long as you stick to the payment plan.
Chapter 11 Bankruptcy (Small Business Bankruptcy)
If your small business is struggling with debt, bankruptcy may provide some relief. We help small business owners with bankruptcy for business debts.
We’ll also help you figure out if you’re personally liable for business debts.