Bankruptcy Lawyer in Orange County, CA, Helping Clients Get From Under Debt
The majority of Americans have some level of debt, and in many cases, this isn’t at all worrying. An individual can owe tens of thousands of dollars on a new car without being in a financial crisis. Unfortunately, unexpected situations can lead to an individual being overwhelmed by their debt. Fortunately, bankruptcy law provides options for these people—but not everyone is fully aware of their rights under the law. This is where a bankruptcy lawyer in Orange County, CA can come in handy.
Debt has a way of spiraling out of control. Once stuck in debt, it can be difficult to get out on your own. Compounding interest and inflating rates can turn what initially seems like a manageable financial obligation into an outright economic nightmare. By speaking with a bankruptcy attorney, you can better understand your situation and the options available to you. Contact the Law Office of Patrick O’Kennedy for a free consultation and get on the path to financial relief today.
What Types of Bankruptcy Relief Are Available?
When people think of filing for bankruptcy, they often view it as a single process. In reality, there are several types of filings you may qualify for. The best approach for you will depend entirely on your unique situation. There simply is no “right answer” for everyone. This is when having bankruptcy law professionals on your side can prove beneficial. By discussing your specific needs with an attorney, it’s easier to identify which approach is right for you.
Here are the types of bankruptcy filings available:
Chapter 7 Bankruptcy
Chapter 7 is known as a “liquidation bankruptcy.” It is the fastest type and very often takes less than six months to discharge. In such a filing, an individual will have to sell property in order to pay off their debts. This is ideal if you’re on a limited income and don’t own a home. California does have some property exemptions, though, that protect certain assets during this entire process.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy gives you the opportunity to keep most of your property. In order for this to occur, though, you must complete a repayment plan that can last up to five years. California also offers property exemptions under this filing. You’ll typically have to cover the value of non-exempt properties in your repayment plan, so this isn’t the best option for everyone.
Other Types of Bankruptcy
There are several other types of bankruptcy, but for most individuals, Chapter 7 and Chapter 13 are the right options. Other filings typically apply to large organizations, foreign entities, family farmers, and municipalities. For instance, if Los Angeles County were filing for bankruptcy, it would likely be under Chapter 9.
Individual debt holders will usually not need to worry about these other types, but an attorney can help you better understand bankruptcy laws and which options are best for you. Law offices that deal in debt relief are experienced in these legal matters, so there’s no reason for you to guess what’s best for your situation.
By reaching out to an attorney in Southern California, you can stop wage garnishment and creditor harassment in their tracks.
Is Bankruptcy Right for Me?
Filing bankruptcy can offer a brand new start for those in a difficult financial situation. Any dedicated bankruptcy attorney that’s focused on your well-being, however, will make sure you understand all your choices. While both Chapter 13 and Chapter 7 bankruptcy offers many benefits, there are other debt-relief options available. When you have experienced legal representation, it’s easier to decide if one of these alternatives is preferable.
At the Law Office of Patrick O’Kennedy, we offer debt consolidation services in addition to bankruptcy filings. If your unique situation allows, this can help you manage your debt while avoiding the potential negative aspects of bankruptcy. If you’ve gone to agencies for help and they only mentioned bankruptcy as an option, they’re certainly not the debt relief agency for you. You need someone who will sit down with you and help you understand all your alternatives.
That’s exactly what you’ll get at our law firm. And since we understand that the last thing you need is more debt, we offer a free initial consultation so you can get a firm grasp of your situation, rights, and options. Our firm is thorough and efficient. We take care to ensure complete and accurate compliance with the necessary legal requirements every step of the way. Not only do we help every client understand their best alternative, but we’ve also never had a Chapter 7 bankruptcy case rejected. Contact us today to learn if this is the right route for you.
How Can a Bankruptcy Attorney Help Me?
One of the most common questions a debt relief law office will hear is “Why do I need an attorney-client relationship for bankruptcy?” This is a very valid question since individuals can file for bankruptcy on their own. Many people that choose to go this route, however, run into unexpected issues that can derail the process. Unfortunately, this is typically due to a simple lack of experience. For instance, did you know any of the differences between Chapter 13 and Chapter 7 bankruptcy before reading this guide? Most people don’t.
With bankruptcy attorneys on your side, you can avoid the most common missteps when filing. Utilizing legal services will also help you identify all debts before filing. This is an essential step since only creditors listed on a petition will be notified. This is integral to ending creditor harassment. After all, companies won’t know they can no longer contact you unless they’re properly notified.
The most significant benefit bankruptcy attorneys can provide, however, is peace of mind. If you file a bankruptcy petition on your own, it will typically take a few months before being discharged. Once this happens, you’ll be free of a significant burden. With experienced bankruptcy attorneys on your side, though, you can find peace of mind now. These professionals can handle all necessary legal issues and filings while you focus on other parts of your life. Let an Orange County debt relief lawyer deal with all your bankruptcy matters.
Contact a Bankruptcy Lawyer in Orange County, CA Today
No one ever anticipates facing debt so overwhelming that they don’t know what to do. Unexpected unemployment, credit card debt, creditor lawsuits, home foreclosure, and countless other issues can blindside anyone.
Unfortunately, these unexpected burdens are often accompanied by creditor harassment and threats of litigation. This doesn’t mean you’re out of options. Even if your credit has hit bottom, you have outstanding judgments against you, your wages are being garnished, and creditors are relentlessly harassing you, you do not need to give up on attaining financial stability.
Through consumer bankruptcy, you may be able to get rid of your debt and start over with a clean slate. Many people who file find that their credit scores improve within a year. United States bankruptcy code exists to help you, and with an experienced law firm on your side, you can make sure you’re making the best decisions for your financial future. Contact the Law Office of Patrick O’Kennedy today by calling (714) 919-1855 for a free consultation. Even if things currently seem overwhelming, a bankruptcy lawyer in Orange County, CA, may be able to help.