Bankruptcy Attorney in Victorville
Providing Targeted Legal Advice for Your Financial Troubles
The word bankruptcy carries a lot of negative connotations. However, if you are buried deep in debt, filing for bankruptcy could be the solution you need to get a fresh start on life. Law Office of Heather Hinton is here to help you evaluate your situation to see if bankruptcy is right for you.
Our Victorville bankruptcy lawyer has the knowledge and experience to help you successfully navigate the entire process. This includes helping you understand your options, completing the necessary paperwork, and representing you when the case goes to court.
Signs You May Need to File for Bankruptcy
Choosing to file for bankruptcy to resolve your financial problems is a big decision. Bankruptcy should only be considered if all your other options have been exhausted. While the process can provide great benefits, it also comes with some undesirable consequences.
The most significant adverse effect is that it can damage your credit for 7 – 10 years. It can also hinder you from obtaining certain employment opportunities in the future. However, sometimes bankruptcy is a person’s only option.
There are several signs that you may need to file for bankruptcy, including:
- There is no foreseeable way that you will be able to resolve your debt problems in less than five years
- You can only make minimum payments on your bills
- You are paying overdraft fees every month
- You are being called frequently by debt collection agencies
- You have exceeded your maximum amounts on your credit cards, and your debt continues to grow
- Your finances have been destroyed by divorce, a medical condition, or job loss
- You are ineligible for debt-relief programs like debt consolidation loans or debt management
Understanding Your Bankruptcy Options
There are two main types of personal bankruptcy, including:
- Chapter 7 bankruptcy: This form of bankruptcy allows debtors to discharge all or part of their debt after their liquid assets are used to repay some of their creditors. To qualify, an individual must demonstrate that they have less than the median income for their family size in their particular state. Failing the “means test” disqualifies a person from Chapter 7 bankruptcy.
- Chapter 13 bankruptcy: This type of bankruptcy is designed to help debtors repay all or part of their debt through a repayment plan that lasts three to five years. The process involves submitting a proposed plan of how the individual intends to repay his creditors to a judge in a bankruptcy hearing. If approved, the individual can proceed with the plan. After completion, all remaining debt is discharged.
Contact Law Office of Heather Hinton
Filing for Chapter 7 or Chapter 13 bankruptcy can help you protect your assets from debt collectors and free you from financial responsibilities. Do not risk losing your case by making a simple mistake. Our Victorville bankruptcy attorney can ensure that your paperwork is filed correctly and on time.
Call (760) 313-3188 today to discover which type of bankruptcy is right for you.