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Hawthorne Bankruptcy Attorney

If you are experiencing overwhelming debt in your personal or business affairs, you do not have to suffer the indignities of constant creditor calls, letters and seizures of your bank account funds and other assets. As a Hawthorne resident, you may have lost a job or suffered a catastrophic illness or injury resulting in a mountain of bills. If a Hawthorne business owner, any number of factors could lead to a business downturn.

In situations like these, turn to a Hawthorne bankruptcy attorney for advice at 310-904-6196 A Hawthorne bankruptcy attorney can advise consumers on Chapter 7, which can relieve them of unsecured debt like medical bills, credit card and department store bills. Consumers and sole proprietors can file Chapter 13, a repayment plan in which arrearages on a mortgage, car loan, student loan or child support can be paid back over a period of years. Chapter 11 is for corporations and partnerships seeking to reorganize when in distress.

A Hawthorne bankruptcy attorney is available to consult you on these three types of bankruptcy and represent you from filing through discharge.

Chapter 7 Bankruptcy

Hawthorne residents with consumer debt and some businesses with business debt can have unsecured obligations discharged in Chapter 7. Your Chapter7 bankruptcy attorney can determine your eligibility to file by matching your income to the state median and household size. If too high, then you can still qualify if your disposable income is low enough.

After completing a debt counseling class, your Chapter7 bankruptcy attorney prepares a petition with your debts, assets, household budget, current leases and contracts and certain property transactions. In about a month, you and the Chapter7 bankruptcy attorney will attend a meeting with the trustee who reviews your petition for non-exempt assets and other potential issues. Your Chapter7 bankruptcy attorney can handle any potential issues that may arise.

Discharge is granted about 4-5 months after filing. Talk to your Hawthorne bankruptcy lawyer to see if you can retain your assets and discharge particular debts.

Chapter 13 Bankruptcy

Sole proprietors who can remain in business but have to deal with burdensome debt and consumers who are ineligible for Chapter 7 or who could lose valuable assets can file for Chapter 13 protection upon the advice of a Chapter 13 bankruptcy lawyer. If in danger of foreclosure, a homeowner can include arrearages in a 3 or 5-year repayment plan. Secured creditors are to be paid in full while unsecured are given low priority and may receive few or no payments.

There are eligibility requirements for filing that your Chapter 13 bankruptcy lawyer can assess for you. If an unforeseen event delays payment on the plan or impairs your ability to pay it, your Chapter 13 bankruptcy lawyer can revise it. Consult a Chapter 13 bankruptcy lawyer about filing.

Chapter 11 Bankruptcy

Corporations, partnerships, and small businesses can file Chapter 11, a complicated procedure that requires the sound advice and handling by a Chapter 11 bankruptcy attorney. A Chapter 11 bankruptcy attorney files a disclosure report before submitting a reorganization plan for confirmation by creditors.

If confirmed, the business continues its daily operations and with the consent of the bankruptcy court has authority to break leases and contracts, enter into new arrangements, sell its assets, expand certain operations and find new investors.

Some businesses do well in Chapter 11 while others may be sold, merge with other companies or have to convert to Chapter 7 and liquidate its assets. Seek the advice of a Hawthorne bankruptcy lawyer to see if Chapter 11 is an option for your business.

Small businesses can bypass many of the formalities of Chapter by having a Hawthorne bankruptcy lawyer put it on a fast track. Individual debtors with large debt and who are ineligible to file Chapter 7 or 13 can file Chapter 11 as well.

Bankruptcy can change your life by giving you a fresh start or by having your business find relief and protection while it reorganizes or restructures. Call a Hawthorne bankruptcy lawyer today at 310-904-6196.

 

Hawthorne, CA, 90250
310-904-6196