Riverside Bankruptcy Lawyer

Fighting Creditor Abuse

More and more, individuals are using bankruptcy to unburden themselves from unmanageable debts and as a method of foreclosure prevention or to combat creditor abuse. Millions of Americans who have used bankruptcy now find themselves debt free and able to start anew. A knowledgeable Riverside bankruptcy attorney from the Price Law Group can provide clear-cut answers to your questions regarding bankruptcy and explain how it can be the start of a new, positive chapter in your life.

The process begins with what is known as a "means test," which is how the firm and the courts determine if you qualify for bankruptcy. Once your eligibility can be shown, the work begins of gathering, analyzing and preparing your financial information into a petition to the bankruptcy court.

Frequently, individuals utilize Chapter 7 or "liquidation" bankruptcy to sell specific eligible assets to discharge some of their debts while others get eliminated by the court. For some, it will be of benefit to use Chapter 13 to obtain much needed debt relief. In this form of bankruptcy, the firm prepares an affordable repayment plan that the court and your creditors will agree upon to pay off your debts in a 3 to 5 year period of time. In all cases, bankruptcy focuses on forgiveness as opposed to punishment with the goal of a fresh start to your financial life.

Bankruptcy Attorney in Riverside

One of the most immediate and important benefits of bankruptcy is what occurs once your petition is filed. All phone calls, letters and any attempts from creditors to collect on your debts are put on hold by the court. This means that wage garnishment, repossessions, debt collection lawsuits and attempts to foreclose on your home are brought to an abrupt halt. This is accomplished through the issuance of an "automatic stay" by the bankruptcy court.

Not all individuals will be eligible bankruptcy or it may not be the proper solution for your debts. It may be that through application of the Fair Debt Collection Practice Act, debt settlement, short sale negotiation or loan modification the firm can help alleviate the stress you are under.

Visit an attorney from the firm for a free initial consultation towards a brighter financial future.

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Contact a Riverside bankruptcy lawyer to see how bankruptcy can provide financial relief against overwhelming debts.