Los Angeles Bankruptcy Law Firm
Living with crushing debt creates stress, which can impact every area of your life. As a Los Angeles bankruptcy law firm, Sanchez & Baltazar Attorneys, P.C. understands that financial issues or cash flow problems can create seemingly insurmountable challenges. With an office conveniently located in Los Angeles, our experienced BK attorneys provide tailored insights and legal services to southern Californians who are dealing with financial stress. While it is possible to declare bankruptcy without a bankruptcy attorney, working with a BK law firm is advisable. That’s because bankruptcy laws and processes can be complex and nuanced. Scheduling a free case evaluation with S&B Legal can help you understand your options and set you up to achieve the best possible outcome under the circumstances.
How a Los Angeles Bankruptcy Lawyer Can Help
Whether you are considering retaining a lawyer for bankruptcy related to your personal finances or are evaluating business bankruptcy attorneys, S&B Legal can help. Our bankruptcy and garnishment attorneys represent individuals and businesses in Chapter 7, Chapter 13, and Chapter 11 (business) bankruptcy filings.
- Chapter 7. Filing for bankruptcy under Chapter 7 may make sense if your income is less than the average Californian’s income. Under Chapter 7, you may be able to keep certain assets out of bankruptcy, use other assets to repay a portion of your debt, and discharge remaining debt immediately. This is the most common type of bankruptcy in CA today and offers debtors a fresh start.
- Chapter 13. With Chapter 13 filings, you create and agree to a payment plan based on available income, as determined by a means test. After making payments for three to five years as agreed, any remaining debt is discharged by the court. Chapter 13 may make sense if you have regular income and want to maintain your home and other property while repaying your debt.
- Chapter 11. Chapter 11 is intended to allow business owners to reorganize their debts in such a way that allows them to stay in business while repaying a portion of what they owe to creditors. This option for businesses is similar in many respects to Chapter 13 filings for individuals. However, Chapter 11 filings can be complex and are potentially more costly than other options.
Understanding Various Paths to Bankruptcy
There is a cultural misperception that bankruptcy filings are always due to financial irresponsibility. While there are circumstances where people become overextended and find themselves unable to repay their obligations although their income has not changed, there are many other paths to bankruptcy.
For example, a job loss or decrease in income, or the death of a spouse or other primary wage earner could make it difficult to stay on top of mortgages, auto loans, student loan debt, credit card debt, and other financial obligations. Regardless of the circumstances that got you here, help may not be as far away as you think. A knowledgeable bankruptcy and foreclosure defense attorney can be an invaluable resource.
Benefits of Filing for Bankruptcy in Los Angeles
Filing for bankruptcy in L.A. offers long-term debt relief, but the process also comes with more immediate benefits. For many people considering bankruptcy, the stress of not being able to meet financial obligations is amplified by phone calls and written communications from creditors and debt collectors. When you work with an S&B Legal BK lawyer in L.A., we will help you obtain an order from the court which prohibits creditors from contacting you. This order, issued as soon as you file, also means creditors cannot garnish your wages or repossess vehicles or other secured assets while your bankruptcy action is pending.
Why Choose Us
Financial stress can take its toll; S&B Legal’s experienced bankruptcy attorneys in Los Angeles understand this. Every client’s situation is different. During your free case evaluation, your attorney will answer your questions, explain various options and solutions based on your unique circumstances, and provide all the information you need to make informed decisions about your financial future. Our L.A. office is conveniently located at 1301 W. 2nd St., Suite 104, Los Angeles, CA 90026.
Let us help you regain solid financial footing. Schedule your free consultation with a bankruptcy and wage garnishment lawyer today to get started and discover for yourself why we are the bankruptcy law firm Los Angeles residents trust for debt relief!