Bankruptcy Attorney In Los Angeles County Helps Alleviate The Strain Of Bankruptcy

By Mary Badder


There's no getting away from the fact that filing for bankruptcy can be a stressful experience. Dealing with the court system can be intimidating, and the jargon and legal technicalities can cause confusion and further stress. Bankruptcy Attorneys in Los Angeles County can help their clients navigate the terrain of the legal system, and emerge from the process in the best position possible.

Although there's no legal restriction on debtors filing for bankruptcy themselves, for the majority of people, hiring a competent attorney is by far the wisest option. The procedure is complex and technical, and even minor mistakes can lead to loss of assets. An attorney can ensure that no errors are made, and that his or her clients' assets are protected to the full extent of the law.

That said, it is important to realize that insolvency isn't necessarily the best option for all debtors. For many, some kind of debt management arrangement can be a better solution. In addition, there are two different kinds of insolvency, each with their pros and cons.

Chapter 7 bankruptcy is the most commonplace form, and requires that the debtors assets are sold and resulting monies paid to creditors. This is a good option for many people, and there is provision for debtors basic needs. Certain assets, such as a main residence and essential transportation, are exempt from liquidation.

Chapter 13 bankruptcy (or debt adjustment bankruptcy) is really a kind of debt consolidation. Under this process, the debtor's liabilities are consolidated and he or she is then required to adhere to a regular payment schedule. An attorney can advise a debtor on the best of these options given their particular circumstances.

Under the direction of an experienced attorney, the stress of insolvency need not be unbearable. Costly mistakes can be avoided, and both time and money can be saved. Debtors with an experienced professional behind them can be sure they are doing the best for both their finances, and their sanity.




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