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Los Angeles Bankruptcy Law Firm

Get help from Wipe Away Debts,  a full-service bankruptcy law firm in Los Angeles.

Wipe Away Debts provides comprehensive bankruptcy solutions for those who are struggling with debt.

We help our Los Angeles clients with everything from wage garnishment and debt relief to bankruptcy and foreclosure. We are experienced in every area of bankruptcy and are dedicated to our clients, walking them through the process so they feel taken care of and lower their stress in a difficult time.

Get to know more about our services and what we can do for your case.

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Chapter 7 or Chapter 13?

What most do when they are not able to pay out their debts is to file for Chapter 7 or Chapter 13 bankruptcy. Each one has its own pros and cons, and as your bankruptcy lawyers, one of the things we do is explain each one and advise you on which one would be best for you.

If you file for chapter 7 bankruptcy, your assets are sold to pay off your debts. Many prefer this option, as liquidation is faster and more aggressive. Your debts would be paid off quickly and won’t be taken out of your paycheck. Chapter 7 is better for those who are unemployed and cannot afford a repayment plan.

However, not everyone is 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 are here to 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 that it stops your debt collectors from contacting you or your co-signer. You can also avoid foreclosure and avoid losing your home, unlike chapter 7. If you’re employed and want to hold onto your assets, chapter 13 may be for you.

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