Get help from Wipe Away Debts, a full-service bankruptcy firm in California. Our bankruptcy attorneys have successfully served Valley Village residents with our personalized attention.
Our services have helped many Valley Village residents transform their lives and get their finances back on track. If you feel overwhelmed when you get a call from your debt collectors, you need our help now.
Get to know more about our services and what we can do for your case.
Filing For Bankruptcy: The Right Solution For You
Filing for Chapter 7 or Chapter 13 bankruptcy are the options for those struggling with debt repayment. Each option has its own advantages and disadvantages, and as your bankruptcy attorneys, one of the things we do is explain each one and advise you on which would be the ideal choice for you.
Chapter 7 bankruptcy filing consists of selling off your assets to pay off your debts. This may be many’s preference, as liquidation is faster and a more aggressive approach. Your debts would be paid off quickly and won’t be deducted from your paycheck. Chapter 7 is normally the correct option for those who are unemployed and cannot afford a repayment plan.
However, you may not be eligible for chapter 7 bankruptcy filing. If your income is too high for your area, chapter 7 won’t be an option for you. This process becomes complex, but your bankruptcy lawyers at Wipe Away Debts will guide you through it.
The alternative is filing for chapter 13 bankruptcy. Anyone is eligible for it, and it consists of repayment through a repayment plan. The entire process can commonly take 3-5 years. One of the biggest benefits of chapter 13 is avoiding foreclosure and losing your home, unlike chapter 7, which can be crucial to those with nowhere else to live. If you’re employed and want to hold onto your assets, chapter 13 may be for you.
We focus on personalized attention and comprehensive services, which allows us to offer our clients the exact service that they need based on their specific situation, regardless of the debt relief situation they are experiencing.