Bankruptcy

Soleimanian Law BankruptcyDebt can be like quicksand — the more you struggle, the deeper you fall in. If you’re drowning in monthly payments and ever increasing interest charges are keeping you from reducing your debt, bankruptcy may be right for you. While bankruptcy will hurt your credit in the short term, it can give you a fresh start that saves you years of stress and financial struggle.

Helping You Decide if Bankruptcy is Right for You

When you call, our first task is helping you to decide if bankruptcy is right for you. Many types of debts can be settled, deferred, or have their interest rates reduced. No debt is set in stone. Everything is negotiable because lenders are often willing to take a guaranteed payment now rather than risking that you won’t pay in the future.

We will use our knowledge of contracts, negotiation, and the Fair Debt Collection Practices Act to give you every possible option before declaring bankruptcy.

Choosing the Right Type of Bankruptcy

If you decide that bankruptcy is right for you, most individuals have two options. One is filing for a Chapter 13 bankruptcy repayment plan. If you have consistent income, you may be eligible to consolidate all of your payments into one affordable monthly payment. If you successfully complete the payment plan, any remaining debt is discharged.

The second option is filing for Chapter 7 bankruptcy. If you’re not eligible for Chapter 13 or don’t have a lot of assets, Chapter 7 may be right for you. In Chapter 7, you’re required to liquidate all of your assets except for basic living essentials. The proceeds go towards your debt, and any remaining debt is discharged.

When you come to our firm, we’ll help you select the bankruptcy option that lets you pay the least. We’ll make sure you meet the eligibility requirements and guide you through the entire process.

Avoiding Costly Errors

If you don’t get your bankruptcy right, it could cost you dearly. Making errors or not following the legal procedures could force you to start the entire process over again. It may even prevent some of your debts from being discharged in bankruptcy. This is exactly why you should work with an experienced bankruptcy attorney even though you technically don’t need a lawyer.

If you want to get out of financial trouble, talk to the Law Offices of Hamid Soleimanian in Encino, California, today.