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Nervous About Filing a Bankruptcy? Here is Why You Shouldn’t Be

March 31, 2020
Uncategorized

Since we assist a significant amount of bankruptcy clients, we often get calls from individuals who are good candidates for bankruptcy in Los Angeles or anywhere in California, but they are too nervous of the process of filing a bankruptcy. Bankruptcy laws were created with one main goal: provide a fresh start to individuals who are financially struggling. Bankruptcy is often the cheapest and fastest way of dealing with debts. Filing for bankruptcy is nothing more than exercising a legal right that one has when falling into a tough situation.

Filing a Bankruptcy in Los Angeles is a Quick Process

Depending on which type of bankruptcy one qualifies for, bankruptcy can be as short as 4 months and as long as 3-5 years. A Chapter 7 case, intended to wipe-out debt (or discharge them) will ONLY take approximately 4 months from the time the bankruptcy is filed through the discharge of the case.

You Generally Do Not Have to Appear in Court When Filing a Bankruptcy in Los Angeles

Most bankruptcy cases in Los Angeles, especially chapter 7 bankruptcy cases do not require the appearance at Court. One is required to appear before a Chapter 7 Trustee, but said meeting takes place outside of Court. For Chapter 13 cases, the process can be longer because the goal is to pay debt over time. However, the client is not required to do much work in the period of time that the bankruptcy is active.

The Impact on Your Credit Will Not Last Forever

Some clients are often worried that once they file for bankruptcy, their credit score will be affected forever. While it is true that credit can be affected due to the filing of a bankruptcy, bankruptcy will likely only show on a credit report for approximately 8 years. There are also ways to increase your credit score.

You Will Not Lose Your Home If You File for Bankruptcy

While a Chapter 7 case is often intended for low-income earners and individuals who do not own a home, a Chapter 13 is an alternative wherein you will be able to pay your debts over a certain period of time. In a Chapter 13, the individual filing for bankruptcy will not lose his/her home (so long as mortgage payments continue to be paid).

Consult With A Qualified Attorney Now!

If you or your loved one is considering bankruptcy and are nervous about the process, give us a call now. We would be happy to talk to you. Also note that in light of social-distancing, we are willing to conduct our free consultations by phone or by video. Just call us to set up an appointment.

Call us now at (310) 444-9444 for a FREE CONSULTATION!

 

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Katz Law is unlike any of these attorneys you see on billboards. You are not just another number. They kept me updated about my case from beginning to end, and I was able to a settlement much higher than what I hoped for. I loved the fact that someone was always available to speak to me and I never felt like a stranger. What more can I ask for in an attorney?

Jennifer P. , Personal Injury Client, Email

I have worked with Lior Katz and Katz Law for several years now and have nothing but good things to say. Katz Law has treated me like family from day one. When I have a complicated matter, I know who to go to.

Esther S. , Bankruptcy Client, Email

I had an amazing experience with Lior Katz representing me. A true professional. Strong work ethic's. Returned my emails within 10 minutes. Perfectionist, professional, Truly cares about his clients. I am 100% satisfied. He's been a strong blessing in my life.

David R. , Bankruptcy Client, Yelp.com

I hired Katz Law to represent me after I was rear ended in a small accident. They have been very responsive and able to answer all my questions. They set me up with a doctor and did not charge me anything to start the process. Glad I finally found such a nice attorney and I feel like I am in great hands. Also a beautiful and clean office building... it's nice when someone else takes care of all the headache involved with a case, and this firm did just that. I would definitely recommend this firm

Johnatan P. , Personal Injury Client, Yelp.com

This office represented me after I was involved in a car accident. I didn't know what to do and decided to give them a call after reading their reviews on Yelp. Thank god I did that. They were very responsive to my emails and got me a settlement that is much higher than what I thought I would get. They also helped me negotiate my medical bills. I am planning to recommend them to all of my friends and family.

Karla L. , Personal Injury Client, Yelp.com
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