Individuals or businesses having problems with excessive debts may need to speak with a bankruptcy attorney about the solutions available.

At Farhat Law Firm, APC, we have experienced bankruptcy attorneys who will give you an honest evaluation of your situation and explain how to begin a process of debt elimination.

How Can Bankruptcy Help? Bankruptcy

Bankruptcy is a legal and financial solution for those who need a way to make a fresh start.

Whether your debts are from medical bills, credit cards, personal loans or business expenses, the process of bankruptcy can open up a path to a new financial beginning.

Some types of bankruptcy will discharge all of your debts completely, while other types create a manageable payment plan supervised by the court. In most cases, creditors must accept the ruling of the court and cannot continue to pursue payment or legal action against you.

Types of Bankruptcy

In Chapter 7 bankruptcy cases, the trustee assigned by the court will assess your debts and assets, and may liquidate some of your property to pay a portion of what you owe.

Some debts cannot be discharged in bankruptcy and will still need to be paid. Your attorney can tell you which of your debts qualify for discharge, and what property may be exempt from liquidation by the court.

Exemptions and amounts are subject to California law, and require the insight of an attorney to make a plan for how best to retain your personal assets in a bankruptcy.

In Chapter 13 bankruptcy cases, the trustee will create a repayment or reorganization plan that is based on your income and the amount of debt that you owe.

These formulas are also based on California law and median income levels, which your bankruptcy attorney will use to determine your eligibility prior to filing.

Farhat Law Firm, APC Bankruptcy Attorneys

The bankruptcy attorneys at Farhat Law Firm, APC are prepared to handle any type of personal or business bankruptcy case. Their experience with cases in the U.S. Bankruptcy Court and using applicable California laws will give you the best possible outcome for your case.

If you have debts that are unmanageable and are the subject of collection actions or lawsuits, then it is time to start looking for a solution. Please contact us at (951) 808-0529 for a consultation to see how we can help you make a fresh start.