Chapter 7 Bankruptcy

Long Beach and the surrounding communities provide their citizens with the best in recreation, weather, and cuisine. The necessity for real estate will not diminish anytime soon, which has caused the value of both leasing and real estate to skyrocket. Many different enterprises have flooded the market, and some of the most talented professionals in the world have relocated to Long Beach. 

Due to the large number of job seekers in the area, finding a position in some fields can be challenging. If you've lost your job or your small business isn't doing well, it might be simple to accumulate responsibility in the county that appears to be featured in a variety of television episodes. 

The best course of action may be to file for bankruptcy if you appear to be constantly in debt and are friendly with your creditors. You would need to file for Chapter 7 bankruptcy, which will not be an easy decision to make. If you own a business, you will have to close it down. If you have a Chapter 7 bankruptcy, you might have to get rid of assets like your car or boat. Property sales will take time, but Reliable Bankruptcy Attorneys is here to help you with this development. Chapter 7 is the most common type of bankruptcy filed; it is often known as "straight bankruptcy." In most cases, a debt is forgiven if its remaining balance cannot be recovered through the liquidation of assets. You should be aware that in these situations, student loans and income tax debts are not discharged. Having served the California region for so long, we have a wealth of knowledge and experience dealing with all types of bankruptcy matters. 

The main goal of this type of bankruptcy is debt restructuring, and our staff will help you negotiate with your creditors to come up with a payment plan that both you and they can manage. With this type of bankruptcy, the court has the ability to monitor spending and will be much stricter if payments are consistently late or never made at all. The payment plan often lasts between three and five years, depending on the court case, giving a person or corporation enough time to rearrange their finances. In order for someone to manage their financial costs, Chapter 13 may be able to stop the foreclosure process on their property. 

To get in touch with us as soon as possible is a recommendation we make to all of our clients. Your obligations won't become any lighter, and your creditors won't stop calling your residence or place of business. For us to start the process, you will only need to gather a few records; the rest will be handled by us. You can schedule a consultation with us any day of the week so that we can advise you on the best course of action for your subsequent actions. 

Due to our extensive experience working with creditors, we are aware of the payment schedules they will and won't accept. If you want only the best legal and financial experts to represent you in your case, whether it be in private or in court, call us right now.