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Bankruptcy Lawyers/Bankruptcy Attorneys in Los Angeles

Eight out of every 10 Americans lives with debt. Some can keep their debt under control, while most cannot. Debt becomes a problem when it builds up to an unmanageable level and you are unable to make the minimum payments. Things only get worse when creditors start to add on late fees and harass you with phone calls and threatening letters. If you've found yourself struggling with overwhelming debt, there are two things to remember:

  1. You're not alone
  2. There are options for getting out of debt.

Talk To a Qualified Attorney

To find out more about debt settlement and getting out from under debt, you'll want to speak to a qualified debt reduction attorney. For over 20 years, the attorneys at Nader & Berneman have been helping California residents free themselves from excessive debt. Call our Los Angeles offices for a free consultation at (818) 788-5008.

Filing for Bankruptcy in San Fernando Valley

Many people are reluctant to consider bankruptcy because of misconceptions they have about it. Some see it as a sign of failure, others fear the stigma. It's not a sign of failure and there is no stigma. Bankruptcy is a perfectly legal, perfectly acceptable way to get out of suffocating debt. In fact, there are some real advantages to filing for bankruptcy, including:

  • It will stop the harassment: When bankruptcy is declared, the phone calls and threatening letters will immediately stop.
  • It will eliminate or reduce your debt: Both Chapter 7 and Chapter 13 bankruptcies may have different functions, but the goal is the same: to make your debt manageable by eliminating it or by providing you with a monthly payment plan that you can afford. Pay your debt on your terms, not the banks'.
  • You can keep your property: Contrary to what banks and other creditors may tell you, filing for bankruptcy does not mean you will lose your home, car, or other necessary property. Having the representation of a qualified Encino bankruptcy attorney will ensure that you maintain all the rights and property that bankruptcy law guarantees you.

Which Type of Bankruptcy is Right for You?

There are two different types of bankruptcy, Chapter 7 Bankruptcy and Chapter 13 Bankruptcy.

  • Chapter 7 bankruptcy allows you to eliminate all of your general debts, like credit card debt, medical bills, etc. To qualify for Chapter 7, you must have significant debt and little or no disposable income.
  • Chapter 13 bankruptcy allows individuals who earn a regular wage to pay off their debt over a three to five year period. You will make affordable monthly payments on a portion or all of their debt. Chapter 13 is a good choice for those who don't qualify for Chapter 7 and have a regular income. Chapter 13 stops your debt from growing and buys you time to pay it off.

Bankruptcy is not for everyone. There are other ways to deal with debt. To find out more about alternatives to bankruptcy, or get advice on which type of bankruptcy is the best for you, call the helpful attorneys at Nader & Berneman at (818) 788-5008. We have been helping folks in San Fernando Valley, just like you, get out of debt for over 20 years. Call Nader & Berneman today, for a free case evaluation.

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