Bankruptcy Attorney Los Angeles CA

Bankruptcy Attorney Los Angeles CA

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A Bankruptcy Attorney Los Angeles CA will tell you that if you have an unpayable amount of debt, the bankruptcy laws are designed to help you get assistance to make a clean break– a “fresh start” in life, rather than spend the rest of your lives being crushed by the burden of unpayable debt.

You may not want to admit your situation is so dire. Unpayable means no matter how hard you try, you are in a hopeless situation. Many don’t want to admit it’s hopeless. Many find it morally or ethically wrong to walk away from debts. The law, however, doesn’t judge you, fault you for your mistakes, or throw you in debtor prison. It gives you another chance.

The first meeting with a Los Angeles bankruptcy attorney will require you to list your assets and liabilities. The attorney will want to know your income, market value of your house and the amount of the mortgage. The attorney will want to know if you owe taxes, have student loans or owe child support. Some debts can be discharged in a bankruptcy, taxes, student loans, and child support cannot be.

When filing for Chapter 7 or Chapter 13 bankruptcy, California allows you to choose between two different sets of exemptions. Exemptions protect your property in Chapter 7 bankruptcy and help determine how much you have to pay unsecured creditors in Chapter 13 bankruptcy.

A big fear is losing the house or the car to get to work. Generally, California debtors with substantial home equity prefer System 1 while System 2 is more beneficial for debtors who have a lot of money in the bank or other valuable items because of its generous wildcard exemption.

Both System 1 and System 2 allow the use of the Homestead exemption and the motor vehicle exemption along with a whole host of other exemptions with limits.

Remember only a bankruptcy attorney is qualified to give you legal advice and by his or her training, knows what is best for your situation.

Maybe your bankruptcy attorney in Los Angeles will advise selling the house. Coal to Cash Homebuyers, Inc. is here to help homeowners out of just about any situation, no matter what!  We buy homes for cash and we can move quickly. There are no fees, up-front costs, commissions, or anything else.  Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.

We may not be the “traditional” route, but we CAN help and we can do it quickly

Give us a call today to find out how we can help you.

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