As experienced OC Chapter 7 lawyers, we know the pressure caused by facing an overwhelming debt. This pressure can destroy your mental and physical health, and family life. Even though you want to be an honorable person and pay your debts, you also owe a duty to your family and yourself. Don’t let a misguided sense of honor destroy your life.
If you are facing overwhelming debt and thinking about bankruptcy, it is important to contact a skilled Orange County bankruptcy attorney. A qualified lawyer can help you evaluate your options and determine the best course of action. Contact us at 949-450-8500 today for your FREE consultation.
Orange County Chapter 7 Attorneys – Hallstrom, Klein & Ward LLP
Serving Rancho Santa Margarita, Costa Mesa, Long Beach, Laguna Beach
How Can Chapter 7 Bankruptcy Help Me?
You should consider filing for a Chapter 7 bankruptcy if you feel that you will be unable to pay off all of your debts. A Chapter 7 bankruptcy filing will allow most, and possibly all, of your debts to be “discharged” or eliminated. Even though most of your debts will be wiped out, you typically will still be able to keep most or all of your assets. However, property used as collateral to secure a loan will probably still be subject to the lien from the lender. To learn more about removing liens, talk to one of our Orange County lien stripping experts.
No More Creditor Calls – “Automatic Stay”
The bankruptcy process usually takes about 4 to 6 months. During this time, none of your creditors are allowed to call you, and all other collection actions are “stayed” or put on hold. The stay goes into effect immediately after you file for Chapter 7 bankruptcy. When the bankruptcy is completed, most of your debts will be wiped out so you will not owe them any longer.
If your house is in foreclosure, the bankruptcy filing will stop the foreclosure process and may create some new options in the handling of your mortgage. During this time, a seasoned Orange County foreclosure prevention lawyer can help you find the best solution to your foreclosure. Some options include a loan modification, deed in lieu or short sale. Banks often become interested in granting a loan modification after a Chapter 7 bankruptcy has been filed. Each individual’s situation is unique, so each person should consult with a qualified bankruptcy attorney to conduct a thorough review of his finances to determine the best course of action regarding their home.
Contacting a Chapter 7 Bankruptcy Lawyer in Irvine, Orange County
If you are facing overwhelming financial troubles, it is crucial that you contact an Orange County bankruptcy attorney to help you eliminate the crushing debt by filing a Chapter 7 bankruptcy. Contact us today by calling 949-450-8500 for your FREE consultation.