Los Angeles Bankruptcy Information
Los Angeles Bankruptcy Information
E-Z Bankruptcy and Credit Repair
Serving the Los Angeles, California Community
Chapter 7 Bankruptcy Los Angeles
 Los Angeles Chapter 13 Bankruptcy
 Credit Repair Los Angeles
 Los Angeles Bankruptcy
 About Our Los Angeles Bankruptcy Services
How Do I File Bankruptcy in Los Angeles
FREQUENTLY ASKED QUESTIONS ABOUT BANKRUPTCY
Los Angeles Bankruptcy

2. WHAT ARE SOME COMMON REASONS FOR FILING A CHAPTER 7 BANKRUPTCY?
The main reason to file for Chapter 7 Bankruptcy are if you find yourself behind the 8 ball and unable to pay your bills due to unemployment, high medical expenses, over-extended credit, marital problems or other large unexpected expenses.

3. CAN I KEEP MY HOUSE, CAR AND OTHER PERSONAL BELONGINGS IF I FILE A CHAPTER 7?
You can keep your house and your car as long as the amount of equity in the house or vehicle is under the exemptions limit for California and your payments are current.  In most cases you will be allowed to keep all of your personal belongings and pensions.

4. CAN I KEEP MY CREDIT CARDS OR FINANCED ITEMS?
In most cases you will not be able to keep your credit cards. However, some creditors will allow you keep your credit cards or financed items as long as you reaffirm the debt and agree to continue making payments to them once your bankruptcy is discharged.

5. DO YOU HAVE TO HAVE A CERTAIN AMOUNT OF DEBT TO FILE?
There is no statutory amount of debt that is needed to file a bankruptcy.  This means there are no upper or lower limits on the amount of debt when determining eligibility for bankruptcy.

6. WHAT TYPES OF DEBT AREN'T ELIMINATED IN CHAPTER 7?
For the most part, non-dischargeable debts such as student loans, parking tickets, government debts, child support and alimony, some IRS debts and fraudulent debts will not be eliminated through bankruptcy. There are exceptions, which vary by state, which is why a California bankruptcy attorney can be of great assistance.

How do I go bankrupt in Los Angeles>

8. WHAT IS THE DIFFERENCE BETWEEN CHAPTER 7 & CHAPTER 13 (AND WHAT IS CHAPTER 11?)
Chapter 7 is designed to eliminate unsecured debts and keep your assets such as your car or home. Chapter 13 allows you to repay your creditors and keep your assets such as your car or home based on your ability to repay your debts. Chapter 11 is essentially a Chapter 13 debt reorganization bankruptcy for corporations. A California bankruptcy attorney can help you choose which chapter is best for you.

9. WILL I EVER GET CREDIT AGAIN?
Absolutely.  After your bankruptcy is discharged you will be able to get credit again. You will most likely be able to finance a vehicle immediately upon the discharge of your bankruptcy case.  Once you receive your discharge you can apply for and often get credit cards and personal loans.  Qualified persons are able to buy homes within a year or two of receiving their bankruptcy discharge.

10. HOW LONG DOES A BANKRUPTCY STAY ON MY CREDIT REPORT?
A Bankruptcy may remain on your credit report for 7-10 years after your bankruptcy case is discharged. However, you will most likely be able to get credit well before your bankruptcy drops off your credit report.

11. DO I REALLY NEED A BANKRUPTCY ATTORNEY?
While it is possible to file a bankruptcy petition on your own, if you were to spend a day at bankruptcy court, you'd soon banish this thought from your mind.  You would see that even competent attornies have difficulty understanding all the provisions of the new bankruptcy code.  Additionally, each state has its own rules regarding how much income you can earn, how much debt to income you need to qualify for bankruptcy and what is exempt from bankruptcy (i.e. the assets you get to keep).  Hiring an attorney with bankruptcy experience in your state can often save you more in additional exemptions than the fees they charge.  Also, you only get one crack at bankruptcy (if you fail, you are not allowed to refile for 60 days during which your creditors are free to come after you) so you need to make sure it gets filed correctly.

12.  HOW EASY IS IT TO FILE A BANKRUPCTY?
There are three tasks that you will have to perform, regardless of who prepares your bankruptcy petition.  The first, and most difficult, is your financials.  You will need to prepare a list of all your creditors, including their address, account numbers and amount owed.  You will need a list of all your assets and their worth (market value). Finally, you will need your last three or four years of income tax returns and bank statements as well as your current credit score. The second task is you have to complete two classes in order to get your bankruptcy discharge:  the first is a Credit Counseling class; the second is a Financial Mangement class from which you will need to provide your certificate of completion for your attorney to file with the Bankruptcy Court. Usually, these can be taken online and require about an hour for each course.  Finally, you will have to attend, along with your attorney, a meeting with your creditors (the 341 meeting) which lasts about 20-30 minutes.  That's it.  You're done and will receive your formal notice of discharge of your debts through bankruptcy in a few months.
No Obligation - Free Consultation
Take action NOW!  Fill out our QUICK APPLY form and receive  your FREE CONSULTATION from our Bankruptcy and Credit Repair SPECIALISTS.


First Name   :
Last Name   :
Email   :
Home Phone   :
Cell Phone   :
State   :
Monthly Bills   :
Monthly Income   :
Own or Rent   :
Lead Source   :


By submitting your information above, you agree to our Terms and Conditions and understand you will be contacted by up to four of our Loan Modification partners and be covered by our Privacy Policy.






Los Angeles, CALIFORNIA

Los Angeles, CALIFORNIA"We didn't know what to do. We'd both lost our jobs, the bills were piling up and we were starting fall behind on our house and car payments.  It seemed like we were waking up to and going to sleep to phone calls from creditors on a daily basis.  The stress was killing us and our relationship.  Then we found out about E-Z Bankruptcy of Los Angeles.  We set up an appointment for our free consultation.  We went over our situation and answered a few questions and together we determined that we qualified for a Chapter 7 Bankruptcy.  I think that night was the first good night's sleep I've had in six months."
Franklin and Janet M.
Los Angeles - CALIFORNIA



When you decide to use the services of Los Angeles E-Z Bankruptcy, you will get an attorney who will fight to the end to ensure you get a settlement that is fair and allows you to get back to enjoying life.  Before we take that first step, we will sit down with you and go over your financial situation to determine the best course of action.  We will explain all the options and requirements so that you can make an informed choice and then work with you through every step of the process.



Los Angeles, CALIFORNIA
 
Los Angeles bankruptcy attorney"We were freaking out.  We'd been living the American dream when all of a sudden everything came crashing down and turned into a nightmare.   All of our hard work was about to go down the drain.  Our home was losing value almost as fast as our mortgage payments were rising.   Every day we held our breath anticipating a foreclosure notice.  The banks reduced our credit limit on our credit cards and raised our interest rate even though we'd never missed a payment.  We didn't know what to do or where to turn.  Then heard about E-Z Bankruptcy and Credit Repair of Los Angeles.  We met with them for our free consultation and found that we had options we never knew existed.  Thanks to their expertise, we were able to avoid foreclosure, keep our house and negotiate a payment plan we could live with.  E-Z Bankruptcy saved the day.  I don't know what would have happened if we had not come across their website and applied for help, but I can guarantee the outcome would not have been nearly so nice."

Henry, Vanessa , Joel and Jessica P.
Los Angeles - CALIFORNIA