Debt can be an insidious force in your affairs, causing extreme stress and anxiety. A sudden loss of a job or a serious illness or accident can turn your finances on its head. There are suitable options, however, and you can discuss them with a Hollywood bankruptcy attorney at (888) 754-9877.

With the assistance of a Hollywood bankruptcy attorney, bankruptcy can help eligible Hollywood debtors cancel crushing unsecured debt and reduce the value of some secured debt. There are also repayment plans for Hollywood individuals and businesses where certain liabilities need not be paid in full and you can save a home from foreclosure or prevent defaulting on loans or court-ordered support payments.

A Hollywood bankruptcy attorney can advise your business regarding dissolution or reorganization if suitable. Don’t hesitate to consult one of our highly experienced and knowledgeable Hollywood bankruptcy attorneys today.

Chapter 7 Bankruptcy

Chapter 7 is a straight bankruptcy where you can wipe out thousands of dollars in credit card, department store, personal loans and medical bills. A Chapter 7 Bankruptcy Lawyer will confirm your eligibility based on your income and liabilities and have you complete some other formalities before filing a petition listing your financial affairs.

You and the Chapter 7 Bankruptcy Lawyer attend a 341 Meeting with a trustee to review the petition. Any issues will be handled by your Chapter 7 Bankruptcy Lawyer. Secured debt can be reaffirmed, redeemed at replacement value or returned with no further obligations.

In most cases, Chapter 7 consumer cases are discharged in 4 to 6 months. Call a Chapter 7 Bankruptcy Lawyer if you have more questions.

Chapter 13 Bankruptcy

Hollywood consumers who cannot file Chapter 7 or a Chapter 13 Bankruptcy Attorney advises them against it, may file under Chapter 13, a wage earner plan whereby you repay creditors over 3 or 5 years.

A Chapter 13 Bankruptcy Attorney includes all your debts in the plan that first pays secured creditors or those with priority. Your Chapter 13 Bankruptcy Attorney can also reduce the value of some secured property to market value.

The Chapter 13 Bankruptcy Attorney will determine that you can meet these payments while continuing with your regular monthly payments to the secured creditors. At the plan’s conclusion, any unpaid unsecured debt can be discharged. See a Hollywood bankruptcy lawyer for more information.

Chapter 11 Bankruptcy

Troubled Hollywood businesses can seek protection from creditor activities under Chapter 11, a reorganization. A Chapter 11 Bankruptcy Lawyer needs to assess your business’ assets and operations before submitting disclosure statement to creditors. Within 4 months of filing, or longer in some cases, the Chapter 11 Bankruptcy Lawyer files a reorganization plan for the creditors’ approval.

If the plan is confirmed, the debtor business conducts its usual daily affairs but material decisions affecting the business need court approval. This includes selling assets, breaking or modifying existing leases, licenses and contracts and seeking new investment or loans.

A Hollywood bankruptcy lawyer will advise small businesses on how Chapter 11 works for their operations. Some individuals unable to file under Chapter 7 or 13 may be able to file Chapter 11 as well.

Call a Hollywood bankruptcy lawyer at (888) 754-9877 about the advisability of bankruptcy and how it could be suitable for you.