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West Hollywood Bankruptcy Attorney

Debt problems can happen to anyone, even if you have a budget and have been strictly adhering to it. Unexpected or unforeseen events such as loss of a job, a lawsuit that insurance does not cover or an illness that requires prolonged hospitalization can derail any budget.

Sudden events like these can cause extreme financial hardship. For West Hollywood residents and business owners, they can call a West Hollywood bankruptcy attorney at (888) 754-9877 for competent and honest advice on their legal options.

With the help of a West Hollywood bankruptcy attorney, bankruptcy can help West Hollywood consumers wipe out certain debt or avoid a home foreclosure or an auto repossession. Businesses that are dissolving can liquidate their assets and the proceeds used to pay creditors in a regulated manner. If they want to repay creditors over time and reorganize, Chapter 11 is available. A West Hollywood bankruptcy attorney can advise you on any of these options depending on your status and circumstances.

Know that you can rely on a West Hollywood bankruptcy attorney if you are experiencing severe debt issues.

Chapter 7 Bankruptcy

Eligible consumers can rid themselves of credit card debt, medical and department store bills and personal loans in Chapter 7. A Chapter 7 lawyer matches your income to the state median or compares your income and liabilities to see how much disposable income you have. If eligible, the Chapter 7 lawyer will advise you regarding other requirements before and after filing.

The Chapter 7 lawyer prepares your petition with your financial information and files it. An automatic stay goes into immediate effect so that all creditor activity including lawsuits must cease.

Your only appearance outside your Chapter 7 lawyer’s office is with the trustee who reviews your petition. Your Chapter 7 lawyer will accompany you. Within 3 months, your unsecured debts are discharged. Talk to your West Hollywood bankruptcy lawyer about your options for your secured debts.

Chapter 13 Bankruptcy

West Hollywood homeowners in danger of foreclosure or residents facing a looming auto or other property repossession can use Chapter 13 if advised by a Chapter 13 Bankruptcy Attorney. Under this filing, a Chapter 13 Bankruptcy Attorney submits a plan where you repay your creditors over 3 or 5 years.

Consumers ineligible to file Chapter 7 and sole proprietors wanting to continue their business can file as well, the latter being able to include business debt if personally guaranteed. Your Chapter 13 Bankruptcy Attorney can include arrearages for a mortgage, auto loan, student loan, alimony and child support. These are priority creditors and are paid first.

If you follow the plan to its conclusion, unsecured debt that is not paid can be discharged. Consult a Chapter 13 Bankruptcy Attorney to see if this is an option for you.

Chapter 11 Bankruptcy

A business that is experiencing debt problems and creditor threats can seek to repay creditors over time while restructuring its operations under Chapter 11. Individuals with large debt and unable to file Chapter 7 or 13 may file as well acting upon advice by a Chapter 11 Bankruptcy Lawyer.

A Chapter 11 Bankruptcy Lawyer prepares a disclosure statement for creditors before a reorganization plan is offered for confirmation by creditors who will be paid less than full value.

If confirmed, the debtor business can ask the court to allow it to sell assets, expand or close down operations, retain certain specialists and modify existing contracts and arrangements. Your West Hollywood bankruptcy lawyer will ensure progress reports are filed and that creditor issues are handled.

If you are considering bankruptcy or just have questions about how it could benefit you or your business, call a West Hollywood bankruptcy lawyer at (888) 754-9877. A skilled and knowledgeable West Hollywood bankruptcy lawyer can represent you in any type of proceeding.

West Hollywood, CA 90046
(888) 754-9877