Los Angeles Bankruptcy Law Attorney
Chapter 7 • Chapter 13 • End wage garnishment • Stop repossession
Tough economic times have led to many people having to live off of high-interest credit cards and still falling behind on their mortgages. Overwhelming debt does not discriminate. A job loss, medical debt, or a skyrocketed mortgage interest rate can cause it to accumulate until it seems you have no options.
If you are facing unmanageable debt, filing for bankruptcy may be a very positive option for you.
At The Law Offices of Charles O. Agege in Los Angeles, we know bankruptcy law and how to evaluate if filing bankruptcy or seeking another debt relief option will best protect your financial and legal interests. We will take the time to listen to your situation and help you decide your next step.
When you need stop harassing calls from creditors and give your financial future a fresh start, contact us for a free consultation.
How does Chapter 7 bankruptcy work?
The Chapter 7 bankruptcy law is intended to allow debtors to completely wipe out most types of debt, and may include the liquidation of assets. Eligibility for Chapter 7 under the new (2005) bankruptcy law is established by a means test intended to determine whether you can afford to pay your debts.
If you are eligible for Chapter 7, attorney Charles O. Agege will complete the necessary paperwork and file your petition. Once a bankruptcy position is filed, the bankruptcy law puts a court order into effect automatically, stopping all collection activities. It stops creditor harassment, repossessions, garnishment and enforcement of liens. It even stops foreclosure for at least the period of the bankruptcy.
How does Chapter 13 bankruptcy work?
Chapter 13 bankruptcy is an option for those who can't qualify for Chapter 7 and for those who want to try to save their homes. One positive option in Chapter 13 is help with second mortgages. If you have a second mortgage and owe more than what your home is worth, in certain circumstances the bankruptcy court may be able to prevent the second mortgage lender from foreclosing on your home.
Chapter 13 allows the court to develop a repayment plan based on ability to pay. The plan, which typically lasts between three and five years, allows wage earners to satisfy a majority of their debts. When the plan is successfully completed, remaining qualifying debts are eliminated.
Our law firm will work with you to complete the necessary paperwork and you're your petition. We will represent you at all bankruptcy trustee hearings to determine the specifics of your repayment plan, as well as any other required hearings.
Contact The Law Offices of Charles O. Agege to schedule your free consultation with a lawyer.
The Law Offices of Charles O. Agege
Free consultation • Accepts credit cards • Live 24-hour answering service • Over 20 years of aggressive and result-driven legal advocacy
