A common perception about the general public and among attorneys alike is that you can keep certain properties through bankruptcy. The most important property in question is usually the primary residence of the debtor(s). This is possible because a homestead exemption allows a debtor to keep the home in spite of the fact that there may be some equity in the home (and certainly, if no equity exists, there is no need to claim a homestead). So, the common understanding (now a misunderstanding) is that once the equity in the home does not exceed the homestead exemption amount, then the property is yours to keep. No longer ! Read the rest of this entry »
Chapter 7 Bankruptcy
Chapter 7 is known as the "complete" or "liquidation" bankruptcy. It does not mean that you will lose all your property. In most cases, you can keep your home, cars and even a business through this process while eliminating other debts.
Chapter 7Chapter 13 Bankruptcy
Chapter 13 is known as the "personal reorganization" bankruptcy, otherwise known as the "pay what you can afford" bankruptcy. You definitely do not lose anything here and another great feature is that you can dismiss your case at any time.
Chapter 13Debt Consolidation
Debt Consolidation and Debt Reduction are discussed here together because there are so many commercials, ads and misinformation that its worthwhile taking a deeper look because there are so many unscrupulous companies out there.
Debt ConsolidationMortgage Foreclosure
Foreclosure is a much talked about topic these days, whether in hushed circles, private conversations with the family, or around social gatherings. Let's see if we can shed some clarity on what foreclosure is and what foreclosure isn't.
ForeclosureLos Angeles Bankruptcy Law Services
Los Angeles County Bankruptcy
Bankruptcy in Los Angeles can be a stressful experience to an individual, family or business. Debt reduction and consolidation services are a big part of what a bankruptcy attorney provides. Creditors and debtors have complex requirements in bankruptcy litigation that require a professional level of understanding of bankruptcy law. A bankruptcy lawyer that you can trust is important to ensure the right outcome and an experience as smooth as possible under the circumstances.Los Angeles County Bankruptcy Services & Information
As Los Angeles bankruptcy attorneys we specialize in many services across all of Los Angeles county, including chapter 7 in Los Angeles, chapter 13 in Los Angeles, bankruptcy litigation and related motions, debt negotiation, debt reduction in Los Angeles, irs offers in compromise, foreclosure in Los Angeles, including foreclosure litigation and foreclosure defense.Learn about bankruptcy filing in Los Angeles, including LA bankruptcy statistics and read about how the economic climate has affected Long Beach Bankruptcy filings over the last several years.
As Los Angeles bankruptcy lawyers we also offer this website, a resource for residents of the Los Angeles county area, to provide information, links to resources, case studies, testimonials and any information that can help those considering bankruptcy. The more educated you are about a potential course of action for your bankruptcy litigation in Los Angeles county, the better you'll feel when you begin the filing process with a bankruptcy attorney, lawyer or law firm.