Los Angeles Bankruptcy Attorney

Discharging Your Debt

At the Mathews Law Firm, we know how difficult it can be to have an overwhelming amount of debt hanging over your head. Many circumstances can contribute to leave an individual, family or business owner in underwater financially. In the last few years, many employers have been forced to lay off a large portion of their workers. Without a continuing source of income, many turn towards credit cards and loans to avoid defaulting or missing a payment in an attempt to avoid damaging their credit score and paying their obligations. It is very important to know that in these situations, it is best to have your entire financial scene reviewed, as you may have the option to discharge your debt through bankruptcy. A Los Angeles bankruptcy lawyer from our firm will be able to help you determine if you qualify for bankruptcy or an alternative would better serve your interests.

Bankruptcy Lawyer Serving Clients in Los Angeles

When you face overwhelming amounts of debt, it is in your absolute best interest to speak to a highly qualified lawyer about discharging your debt. A number of options exist to help individuals through tough financial times. In this economic climate, individuals are turning more and more towards bankruptcy as a means to free themselves from the burden of debt. While bankruptcy myths can be found all over the internet, you deserve to have accurate information about the benefits of bankruptcy. In many cases, the benefits will far outweigh the harm this process could do to your credit.

Chapter 7 and Chapter 13 bankruptcy are two viable options for individuals faced with the inability to make payments on their debts. In Chapter 7 bankruptcy, individuals in extreme financial difficulty will have the full amount of their unsecured debt discharged, while in a Chapter 13, individuals will enter into a payment agreement in which they agree to pay back a portion of their debt over a 3 to 5 year period. If you are having difficult y paying your mortgage, bankruptcy is a powerful form of foreclosure defense. While you cannot discharge your mortgage through bankruptcy in many cases, there are negotiations that can be undertaken by our firm during the automatic stay of collections actions against you. Making arrangements that best suit you, your family or your business is our focus, and we have the experience in a wide variety of debt-related legal actions that could help you get back into a healthy financial condition.

Contact a Los Angeles bankruptcy attorney if you would like to discuss how to discharge your debt.