Finding Financial Freedom Through Legal Process
Unplanned medical bills, long-term job loss and sudden emergencies can all cause sudden financial hardship. The more debt a person has, the harder it is to overcome. When the added interest every month begins to outweigh what you can afford to pay, how can you bring an end to the debt?
Bankruptcy may be the answer to your problems. We at The Law Offices of Joseph C. Rosenblit have been helping our California clients overcome financial hardships for more than 30 years. Bankruptcy is a significant decision for people to make, and we want you to be sure it is the right choice for you.
What Can Bankruptcy Do For Me?
Bankruptcy can have a bad reputation, but learning about bankruptcy can help you take the first step toward filing for bankruptcy. There are two main types of consumer bankruptcy, Chapter 7 and Chapter 13. Each type offers a different form of debt relief.
Chapter 7 bankruptcy allows an applicant to sell their nonessential property like a second home, heirlooms, and retirement accounts and put that income toward paying off their debt. The government will then discharge the remaining unsecured debt.
Chapter 13 bankruptcy handles debt differently. Instead of immediately discharging debt, Chapter 13 bankruptcy restructures the debt into a three-year to a five-year payment plan. After the debtor has made all their payments, the government will discharge any debt that is left over.
Don’t Let Debt Overwhelm You
Financial hardship is difficult, but it does not have to be a lifelong sentence. Bankruptcy has the power to eliminate a massive amount of debt, but it won’t happen unless you file for bankruptcy first.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.