California Bankruptcy Attorneys for the LGBT Community
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Los Angeles LGBT Bankruptcy Attorneys
About Bankruptcy & Debt Relief Services in California
Bankruptcy may be the best option for you if you find yourself with overwhelming debt and no way of being able to repay it. Bankruptcy is a legal remedy you can take if you have gotten so far in debt that you have no possibility of being able to pay it back in full. There are several types of bankruptcy filings, one of which will be the right one for you. With the help of one of the experienced Los Angeles LGBT bankruptcy attorneys in the Pride Legal network, you will be able to face the situation with confidence and move forward with your life.
Facing bankruptcy is a difficult decision. Obtaining the advice of a legal professional can help you make the correct choice on the best option for your specific situation. The following are some of the types of bankruptcy possibilities open to you:
How would I know If bankruptcy is the right option?
Before you consider filing for bankruptcy, it’s a good idea to do some research and see what options are right for you. Filing for bankruptcy does not get rid of all of one’s debts- Chapter 7 bankruptcy allows for the discharge of only some loans and debts, but not all. Filing for Chapter 7 bankruptcy will relieve you of medical debts, credit card debts, and other dischargeable debts. Dischargeable debts do not include child or spousal support payments, or student loans. These are considered ‘priority,’ and must be paid back. Chapter 13 bankruptcy allows for the restructuring of one’s debts and allowing them to pay off payments over a three to five year period.
Chapter 7 filings allow you to discharge unsecured bank loans and/or credit cards, stop harassing collection calls, can eliminate overdue medical bills, certain tax, and court judgments, end wage garnishments and release frozen bank accounts. However, not all individuals qualify for this type of bankruptcy. One of the member lawyers from Pride Legal can assist you in determining if you qualify.
Chapter 11 is primarily for businesses and allows you to prevent foreclosure of valuable real estate property long enough to either sell or develop the property, protect you from creditors and tax levies, reduce monthly operating expenses, restructure debt to a more manageable level and end creditor collection calls.
Chapter 12 is primarily for family farmers and is a cross between a Chapter 11 and Chapter 13 bankruptcy. It provides similar legal options, however you must meet certain criteria to qualify.
Chapter 13 allows you to restructure the debt that you have to a more manageable level that is paid off within three to five years and ends harassing collection calls.
Find a Los Angeles Bankruptcy Lawyer Today
If you have debt you cannot handle, there are legal solutions to help you. The bankruptcy lawyers affiliated with our network are professional and experienced attorneys who serve the Los Angeles, Orange and San Diego communities. We pride ourselves on catering to the needs of the gay community and are sensitive to the unique issues facing our LGBT clients. Pride Legal is the best place to find the type of attorney you need for any legal issue you may have.
Q: Would I be able to save my home if I file for bankruptcy?
A: If you file for Chapter 13 bankruptcy, you could save your home. Chapter 13 allows you to restructure your debt plan and your mortgage so you may pay all or a portion of that debt back over the next 3 to 5 year period. Assuming you keep up with the payments, the bank would allow you to keep your home while you pay off the debt. In a Chapter 7 bankruptcy, you are asking the bank to discharge your loans; meaning they have the right to take your home if they like (they will).
Q: I just lost my job, and I’m far in debt. Should I file for Chapter 7?
A: Maybe, but you should definitely wait. Once you file for bankruptcy, you cannot do so again for another 8 years. So any debts you incur after you file for Chapter 7 will stay there, so your best option is to wait. Maybe a job will come by, you never know. It’s best to wait until you know it’s time to file for bankruptcy or after talking to a lawyer.
Q: Debt collectors won’t leave me alone! Would filing for bankruptcy stop them?
A: Yes. Bank and debt collectors must stop calling once you have filed for bankruptcy. You may also contact debt collectors by mail and request that they stop calling you. Under federal law, they must stop calling.
Contact a Pride Legal Bankruptcy Attorney for help with bankruptcy filing and debt negotiation.
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