Personal bankruptcy is one of the two major varieties or types of bankruptcies: the other being business bankruptcy. A personal bankruptcy — also called consumer bankruptcy — is the right to discharge a debt by an individual or a married couple. This is usually what people think of when they hear about filing bankruptcy.
The business bankruptcy is what a major corporation or business will file when they want to file bankruptcy. This type of filing is usually a Chapter 11 bankruptcy. These are very complex cases, and often to go to a bankruptcy attorney who specializes in this specific subcategory.
While you could file personal bankruptcy on your own, you really are better off with a bankruptcy attorney. Firstly, a bankruptcy attorney who only does California bankruptcy can help you save real property using the updated California homestead exemption. Secondly, he’ll battle the creditors who fight your attempts to make them go away. Finally, good bankruptcy lawyers can help you save thousands of dollars. We’re Los Angeles bankruptcy attorneys (serving San Fernando Valley, Santa Clarita and Antelope Valley), and will be more than happy if you chose to contact us. And you’ll be happy, too.
If you’re an individual and feel that there is no way out of your debt troubles, because you are facing losing your house and want to stop foreclosure, wage garnishment or just want to stop the creditor harassment, you’ll want to learn more about Chapter 7 bankruptcy or Chapter 13. as well as review our page with bankruptcy information basics as a launching point.
Thank you for reading, and don’t forget to also learn more about the types of bankruptcies. Contact us so we can learn about your situation and help you get a fresh start.