Is debt keeping you awake at night? Are you getting calls every day from creditors about past due bills? Is your business being sued? If yes to any of this, then call a Hacienda Heights bankruptcy attorney at (888) 754-9877 to discuss your possible options.

A Hacienda Heights bankruptcy attorney can advise you on the different types of bankruptcy and whether you qualify to file, if a consumer, or if your business may consider reorganizing under a Chapter 11. Consumers can also file under Chapter 13 if your Hacienda Heights bankruptcy attorney suggests this as a way to avoid foreclosure or a repossession.

Don’t let increasing debt ruin your finances or the future of your business. Contact a Hacienda Heights bankruptcy attorney to see if bankruptcy can be a solution for uncontrollable debt.

Chapter 7 Bankruptcy

As a Hacienda Heights consumer, you can file Chapter 7 and erase debt like credit cards, department store bills, personal loans, medical bills and most payday loans. Your eligibility to file is based on your income and liabilities that a Chapter 7 Bankruptcy Lawyer reviews. If your Chapter 7 Bankruptcy Lawyer advice convinces you to file, then you first complete a debt counseling class arranged by your Chapter 7 Bankruptcy Lawyer and produce financial documents.

Your Chapter 7 Bankruptcy Lawyer will prepare a petition of your financial affairs that after filing is reviewed at a meeting among you, your Chapter 7 Bankruptcy Lawyer and the trustee. In most cases, you will receive a discharge of your debts in another 90 days. If any issues do arise, your Hacienda Heights bankruptcy lawyer is equipped to handle them.

If a business, your Hacienda Heights bankruptcy lawyer can prepare the dissolution of the business and counsel you on the procedure.

Chapter 13 Bankruptcy

Chapter 13 is for individuals and Hacienda Heights sole proprietors wishing to stay in business. Debtors who do not qualify for Chapter 7 or who could lose substantial assets can seek protection with the assistance of a Chapter 13 Bankruptcy Attorney.

A Chapter 13 Bankruptcy Attorney prepares a plan for trustee approval whereby you repay creditors in order of priority over 3 or 5 years. You can include arrearages for a mortgage, car, student loan, alimony or child support obligations in the plan. Your Chapter 13 Bankruptcy Attorney can also reduce the value of some secured debt to be included in the plan. Business debt of a Hacienda Heights sole proprietor can also be part of the plan if personally guaranteed.

If you make all the payments, any unsecured debt not paid off will be discharged. Talk to a Chapter 13 Bankruptcy Attorney for more information.

Chapter 11 Bankruptcy

If a Chapter 11 Bankruptcy Lawyer so advises, your business can elect to file for reorganization under Chapter 11, though creditors can also force your business into it as well. This is a more complex repayment proceeding where a Chapter 11 Bankruptcy Lawyer prepares a disclosure statement and reorganization plan for confirmation by creditors who will not be paid back in full and by equity holders.

If the plan is confirmed, the business continues as usual but major decisions affecting the business, such as its restructuring, must be court approved. This includes selling assets, breaking contracts and entering into new leases, licenses and other contractual arrangements. Your Hacienda Heights bankruptcy lawyer files progress reports for the court and deals with creditor issues.

Hacienda Heights individuals with large debt and unable to file under Chapter 7 or 13 may file as well.

Call a Hacienda Heights bankruptcy lawyer at (888) 754-9877 for more information about how bankruptcy may be a practical solution.