Call a Long Beach bankruptcy attorney of Total Bankruptcy.
Can a Long Beach bankruptcy attorney give you an honest assessment? Yes. A sponsoring Long Beach bankruptcy attorney of Total Bankruptcy may be able to analyze your financial situation and determine what if anything should be done to resolve your debts.
Discharge or consolidate?
If most of your debts are unsecured and you have little chance of repaying them, then a sponsoring Long Beach bankruptcy attorney may decide that filing under Chapter 7 should be in your best interest. Under the current federal stature, a discharge (Chapter 7) may release you from personal liability for certain unsecured debts. The discharge may operate as a permanent order directed to all your creditors telling them to refrain from taking any form of collection action on you in regard to certain debts. Unless your creditors object, you should automatically receive the discharge.
Your Long Beach bankruptcy attorney may not be able to obtain a discharge of all your debts. Dischargeable debts vary under each chapter of the Code. Congress has determined that certain types of debts may not be dischargeable based on either the nature of the debt or the fact that the debts were incurred due to improper behavior such as drunken driving. Some more debts that are not dischargeable under Chapter 7 include child support, alimony and taxes.
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If most of your debts are secured and you have a constant source of income, then your bankruptcy attorney may determine that you should file a Chapter 13 repayment plan. A Chapter 13 is frequently referred to as a "wage earner" Chapter although it is available to individuals with regular income from any source, not just wages.
Time is of the essence!
The quicker you retain legal counsel, the better your chances should be to discharge your debts. You shouldn't wait until your debts pile higher and higher while you attempt to do the "right thing" by paying them off. The current bankruptcy laws have a number of provisions that dramatically limit the right of many individuals to discharge their debts including:
A strict financial means test that may prohibit many debtors from discharging under Chapter 7
A requirement that all debtors must receive a briefing from an approved credit counseling agency at least six months before they can file their case
A requirement that debtors take an approved class on debt management techniques before they receive their discharge
A provision making it easier for a court to dismiss a case outright or to convert a Chapter 7 case to a Chapter 13 case
A provision permitting a court to impose sanctions on attorneys, or even on debtors, for filing a Chapter 7 case that is dismissed or converted to a Chapter 13 case
Call toll free 1-877-349-1309 or use our free online case evaluation form to schedule a no obligation consultation.
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The purpose of this web site is to help you learn everything you need to know about bankruptcy, the process, your bankruptcy attorney and your legal rights. The best place to start is with the U.S. Bankruptcy Code. It delivers protection to people in financial jeopardy who are suffering under mountains of debt. Bankruptcy is your legal right.