Southern California Bankruptcy: How Exactly Does this Work? | Westgate Law

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Southern California Bankruptcy: How Exactly Does this Work?

chapter 13 bankruptcy, filing for bankruptcy, file for bankruptcy, file bankruptcy, westgate law, southern california bankruptcy attorneys, file chapter 13 bankruptcyFiling bankruptcy is intended as a protection for consumers from overwhelming debt. It seems simple at the outset, but it’s like having a house built. If you’ve never done it before, it seems like a simple concept. You look at them and then decide which one you like best and hire the builder to complete the project. But as soon as the paperwork is signed, you’re overwhelmed with all the questions and details that seem designed to overwhelm you and steal all the fun out of building a new house.

It can seem the same with bankruptcy. You have a problem and you’ve found an appropriate solution. But as soon as you make the decision, all sorts of questions start flying around. Do you own a home? How many? Where? Do you live there? How often? Do you own vehicles? How many? How much are they worth? Do you have a mortgage or auto loan balances? And the list can go on for days.

Can you walk away from your home and keep both vehicles?

Are you eligible for Chapter 7 bankruptcy protection?

Which is better – Chapter 7 or Chapter 13 bankruptcy?

Have you talked to your southern California bankruptcy attorney about deficiency liability?

Do you live in a non-deficiency liability state?

Are you eligible to convert from Chapter 13 bankruptcy to Chapter 7 bankruptcy?

Will switching from Chapter 13 to Chapter 7 bankruptcy be beneficial?

Can I keep my cars even if I walk away from my home?

For many considering the potential of filing for bankruptcy or altering their bankruptcy protection from one type to another, the sheer number of possibilities that may or may not apply to their situation can leave them feeling like making any decision is impossible. The fact of the matter is that there are a lot of limitations, exceptions, calculations, and seeming loopholes that can be difficult to navigate. That’s why it’s important that anyone with questions about filing for bankruptcy or switching from Chapter 13 bankruptcy to Chapter 7 bankruptcy discuss their particular situation with an actual bankruptcy attorney experienced in their region.

If you are considering filing bankruptcy or need to make a change to your current bankruptcy filing, etc. please get in touch with one of the experienced southern California bankruptcy attorneys at Westgate Law.

About the Author

Justin Harelik

Justin has a singular goal: to get people out of financial distress and move them to financial stability and prosperity. He does this by combining 15 years of in-depth experience in bankruptcy, credit management, debt negotiation and student loan modifications, and he does it with both English and Spanish-speaking clients.

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