Bankruptcy is a trying time for many Los Angeles families and businesses. Homes and property can be lost, along with a complete credit rating collapse. Yet bankruptcy can also be a second chance for those wise enough to plan for it. To ensure the best bankruptcy Los Angeles planning, speak with a Los Angeles bankruptcy lawyer.
A Los angeles bankruptcy lawyer can help you plan the best bankruptcy for you, and advise on how to rebuild afterwards. Typically, a Los Angeles bankruptcy attorney will first discuss bankruptcy options, and how they differ. Chapter 7 bankruptcy, for instance, offers immediate debt relief by liquidating assets, while Chapter 13 offers court administered debt consolidation. A Los Angeles bankruptcy attorney advises on the best bankruptcy option based on your balance sheet.
Once bankruptcy begins, a Los Angeles bankruptcy lawyer shelters you from judicial overreach. While Congress has given judges great leeway in bankruptcy proceedings, a Los Angeles bankruptcy lawyer can help you shelter critical assets, such as your home or a car, and be your advocate in the process.
Once bankruptcy is complete, a Los Angeles bankruptcy lawyer can help you start rebuilding credit. While you may wish to speak with a financial adviser, a Los Angeles bankruptcy lawyer can give you credible financial advisers, as well as first steps that can rebuild a credit score. In fact, it is almost easy to do now that one is free of liabilities.
Bankruptcy is always trying, but if done right, it can give you a fresh financial start in life. To get the best start possible, speak with a Los angeles bankruptcy lawyer about your options.