Bankruptcy Alternatives | Attorney Legal Information Los Angeles
Mounting debts and economic hardship during these trying times have lead many to considered filing for Bankruptcy. Here at Downtown LA Bankruptcy Law Firm we advise all of our clients of any alternatives to bankruptcy which may be available based on fiscal situation.
The Alternatives we provide is based on a strategic individualized and confidential analysis of our client monetary and fiscal circumstances. If you are considering filing for a Chapter 7, or a Chapter 13 bankruptcy or you are currently in the filing process we advise you to contact our Los Angeles Bankruptcy Attorneys and financial analysts at Downtown LA Law for a Free Review of your financial predicament and a Consultation of your bankruptcy and non bankruptcy options. You are not alone we are here to help.
Options other than Bankruptcy which may be available to you: Debt Consolidation or Debt Reduction:
Debt Consolidation also known as Debt management, Bill Consolidation or Credit Counseling is a system by which companies attempt to bundle your debts together into one manageable payment scheme.
It is important to note that there are many companies which often make outlandish claims regarding your debts to be able to attain your trust. Note; it is important that you are aware that many of the claims made by these companies offer turn out to be false or highly misguided.
If you are in debt and you are not able to pay your bill we inform you to contact out Financial Analysts and Bankruptcy lawyers at Downtown LA Law where we will provide you with the straight answers and a detailed comprehensive analysis of your financial situation and the alternatives you may have available to you.
Under the Article 9 of the Uniform Commercial Code and state statutes governing real estate foreclosures a secured creditor is able to conduct a judicial and or n judicial foreclosure of the property of the debtor. Upon Conducting such a foreclosure then creditors will receive payment of the debt owed with the balancing going back to the debtor.
A Foreclosure allows for a quick disbursement of assets between creditors and a resolution of any conflict which may arise. However with many assets under water, current value below the mortgage amount a foreclosure will not satisfy the debts of many homeowners.
Don’t wait: If your home or other property is close to being foreclosed it is important that you contact a Bankruptcy Attorney hat will provide you with options other than foreclosure which may be available.
Negotiating with Debtors:
Many creditor understand the a foreclosure can lead a massive reduction or an elimination of the debt they are owed. Thus in many instances they are willing to negotiate with a debtor for a reduction in their debts so that they will be ale to receive some of the money owed.
However negotiations with creditors can be very difficult. Usually creditors are adept at using scare tactics against those who attempt to negotiate so that they can receive a larger some of the amount owed. That is why you need to contact attorneys who are adept in negotiating with creditors and have a proven track record of reducing debts so that the individual debt to revenue balance is maintained at a healthy level.
What can Downtown LA Law do to help
Here at Downtown LA Law Group we will provide you with a Free, Confidential, and Personalized consultation including an analysis your financial circumstances by our team of financial consultants.
Our staff of Bankruptcy Attorneys will then evaluate the legal avenues that are possible in your situation. We will provide you with comprehensive assessment of the different legal and non legal avenues and determine whether bankruptcy is the best option for you. We will also advise you on the process of Bankruptcy as well as the positive and negative ramifications of such a decision.
We understand that filing for Bankruptcy because of difficult financial state can be a difficult and onerous process. We are here to help. Contact us at (855) DT-LA-LAW for a Free Consultation with our skilled Bankruptcy Lawyers.