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Chapter 11 bankruptcy can help you get out of debt and stay in business. Opening a business comes with many risks. Taking on debt can help grow your company, but financial troubles may arise for many reasons, even economic factors outside your control. If you choose to continue doing business and want to more affordably […]
Debt settlement and filing for bankruptcy can help get you out of debt. If you have more debt than you can repay, you can file for bankruptcy to discharge unsecured debts or create a repayment plan. Debt settlement enables you to negotiate with creditors if you have delinquent credit accounts or personal loans. How Settling […]
Repossession is when a creditor gains control of property used as collateral for a loan that’s in default. A creditor reserves the right to take away something you own if you violate the terms of the agreement. However, there are rules they must follow. If you’ve failed to make monthly payments, and/or are in default, […]
A loan modification can help if you’re behind on paying a loan, such as a mortgage. Defaulting on a secured loan can result in the loss of your home, car, or other valuable possession. Although refinancing a loan is one possibility that can avoid, for example, foreclosure, it may also be possible to modify your […]
Small businesses acquire debt for various reasons. If the debt is too much to resolve, the business isn’t profitable, or demand for its products and services declines, it may be forced into bankruptcy. Outside forces can lead to increased business debt as well. When your company faces a large amount of debt, options may include […]
Student loan debt has surpassed credit card debt across the nation. Many are finding it difficult to pay back their student loans. Filing bankruptcy is a complex legal process and, despite the misconceptions, it is possible to discharge student loans. However, the legal requirements are complex and often discouraging. You should, therefore, hire a Los […]
Bankruptcy is a financial option available to anyone. If you’ve tried to pay your bills, but still have too much debt, it can help improve your situation over time. You might consider speaking with a Los Angeles bankruptcy attorney for several reasons. Perhaps you’ve lost your job, are getting a divorce, or have high medical […]
Owning a small business may be your dream, but starting one often requires borrowing money. Taking on the right amount of debt can be beneficial. However, this depends on timing. Too much debt is one reason half of small businesses fail in their first five years. There are many ways to deal with small business […]
When debts are discharged in a bankruptcy case, the debtor is freed of any legal obligation to pay them. Creditors can no longer take any collection action, communicate with the debtor, or pursue legal action. Your Los Angeles bankruptcy attorney will inform you of which debts are dischargeable. Whether your debt is dischargeable depends on […]
An automatic stay is a simple one-page document. Once you file for bankruptcy, your Los Angeles bankruptcy attorney sends this document to creditors, notifying them of your situation. It legally prohibits them from taking various actions. Although creditors can motion to remove or modify an automatic stay, violating it can lead to sanctions by the […]
