Gardena Bankruptcy Attorneys

People find themselves facing more debt than they can pay for many reasons. An unexpected medical emergency may have overwhelmed them with huge medical bills. An employer might have gone out of business, resulting in hundreds of layoffs. A job that is fulfilling and rewarding might come with a salary that is simply too low to maintain savings and avoid maxing out credit cards.

While the reasons for financial struggle are endless, solutions may appear to be nonexistent. However, our team at the Law Offices of James C. Shields has nearly two decades of experience using bankruptcy to help clients achieve lasting freedom from crushing debt.

Bankruptcy’s negative reputation often discourages people from filing—even when they would greatly benefit from the process. The phrase “going bankrupt” suggests that bankruptcy means rock bottom and a state of financial ruin. In reality, however, bankruptcy is a powerful process that hundreds of thousands of Americans use every year. It allows debtors to regain control over their finances and achieve a fresh start, and our job is to help you maximize the benefits of this debt-relief process.

Ready to learn more? Call our Gardena bankruptcy lawyers at (310) 626-4404 or contact us online today. We can begin with a free initial consultation.

Understanding the Bankruptcy Process

When you file bankruptcy, you submit a petition to the appropriate bankruptcy court declaring your inability to pay your debts. This petition includes all your financial information, such as your debts, assets, expenses, income, and more. At the end of your case, the court can discharge (i.e. wipe out) certain debts. Once a debt is discharged by the court, you will no longer be legally obligated to pay it.

At the Law Offices of James C. Shields, we assist clients with:

• Chapter 7 bankruptcy. Chapter 7 allows filers to achieve a debt discharge within 4-6 months. The trustee may take your funds and liquidate your assets to repay some of your debts, but most people who file Chapter 7 can exempt (i.e. protect) everything they own from this liquidation process. To qualify for Chapter 7, you must pass the means test. Our team can determine your eligibility and walk you through the entire process.
• Chapter 13 bankruptcy. Chapter 13 takes much longer than Chapter 7 because it involves a 3-5-year repayment plan. Fortunately, your plan does NOT need to cover all your debts. Once you complete your plan, the court can discharge any remaining debts. There is no income limit for Chapter 13, but you cannot owe more than $419,275 in unsecured debts and $1,257,850 in secured debts.

No matter which chapter you file, bankruptcy will trigger a powerful court order called the automatic stay. While the automatic stay is in effect (typically for your entire case), your creditors and debt collectors cannot try to collect what you owe. This means you will be safe from collection calls, letters, lawsuits, and even foreclosure or repossession. If, before your bankruptcy, a debt collector sued you and obtained a judgment against you that allowed them to garnish your wages, bankruptcy will freeze the garnishment process.

Is Bankruptcy Right for You?

Bankruptcy is a complex process. Although it comes with many benefits, it isn’t right for everyone, which is why our Gardena bankruptcy lawyers will take the time to analyze your situation and determine whether bankruptcy is truly the best option. If not, we may help you find an alternative, such as creditor negotiations, loan modifications, or even lawsuits that stop collection agencies from violating your rights.

The sooner you get in touch with us, the sooner we can develop the personalized debt-relief strategy you need. Call (310) 626-4404 or contact us online to schedule your free consultation today!