It is hard to find yourself or your business on the brink of bankruptcy. Often, the situation has nothing to do with you failing personally. It can have to do with finding yourself dealing with unexpected circumstances following the illness or death of a loved one. It can be due to economic factors or a job loss. Whatever circumstances you are in if you feel you are in over your head financially, consult with a bankruptcy lawyer Moreno Valley CA.
It is possible to file the paperwork or what is called a bankruptcy petition with the courts on your own. However, the paperwork and the means tests that must be taken to determine which chapter to file can be so complicated that it is easy to make mistakes. Unfortunately, some mistakes cause bankruptcy petitions to be dismissed by the courts, leaving the petitioner or person filing them in the same difficult financial position without getting the relief that bankruptcy offers.
A bankruptcy lawyer Moreno Valley CA can help you. With their expertise, you can find out what options you have. There are different types of bankruptcies that you can file and they can walk you through which one may be best. Initial consultations are free, so do not delay in making an appointment to see an expert today.
They will ask you several questions about your financial situation. Answering these questions will help them understand which bankruptcy will be best for you. During your consultation, an attorney will not advise you exactly which Chapter to file. They will need to see much more documentation to make that decision with you. Your consultation will give you an idea of what options you have and how a bankruptcy action may help you.
A Chapter 11, for instance, is good for businesses to file. A Chapter 13 is better for an individual to file as long as they have consistent income. With this type of plan, their debts get dismissed or they get reorganized into manageable payments for a 5-year period. Chapter 7 is for individuals who have assets that they can sell to pay off any debts that cannot be dismissed in the action.
An attorney who is experienced in bankruptcy actions can get creditors to stop harassing you almost immediately. If you are facing foreclosure, the right bankruptcy filing will allow you to stay in your home.
With the help of an experienced attorney in Moreno Valley CA, you will be guided to the right action to file. Your petition will be filed correctly the first time. You can start working immediately with the courts to resolve your financial matters.
Bankruptcies are complex and involved actions. They can be incredibly helpful in allowing you to start your financial life over again. Do not risk making a costly mistake by trying to file a bankruptcy action by yourself. Speak to a local bankruptcy attorney soon to get the help and the relief that you deserve.