This article is all about Long Beach bankruptcy case filings. I have been representing clients in Long Beach bankruptcy cases for about 37 years. I have had my own law firm office in Long Beach for about 23 years. My Long Beach bankruptcy presence is is well established within this community.
Long Beach Bankruptcy Cases
People come to us for many reasons. But they all need help. Debt problems come in a wide variety. Clients also have different levels of knowledge and understanding. We see mostly working folks. But we also represent doctors, lawyers, engineers, bankers, business owners, teachers, even clergy — we will help anybody who needs us.
People get scared off by the word “bankruptcy” because of wrong information.
There is so much information about bankruptcy rattling around in the media. Much of it is wrong. We’ve found that one of our jobs is to make sure that our clients understand how bankruptcy really works. Both before, during and after a case is filed and eventually discharged. Those of you who read our free bankruptcy Ebook and this blog probably already know a great deal. So, for now, let’s take a brief look at how bankruptcy works.
Bankruptcy in Long Beach explained.
Bankruptcy begins with the filing of a Petition. That happens in the Federal bankruptcy court. You will be seeking relief under one of the various chapters of the Bankruptcy Code. Of course there are other important papers and forms that must be filed at the same time. Branches of the bankruptcy court are located in almost all major cities. Under the bankruptcy law, people are referred to as “individuals” or “persons” to distinguish them from corporations or other business organizations.
The moment the Petition is filed, bankruptcy law imposes an Automatic Stay which operates as a restraining order against the creditors. In most cases this stops bill collectors from bothering you, lawsuits, foreclosures, even the IRS. It creates a cooling off period while the court system sorts things out.
When a bankruptcy is successfully completed, the court issues a Discharge. A Discharge is a permanent order from the court enjoining (prohibiting) creditors from trying ever again to collect on a debt that has been discharged.
Most individuals seek relief under one of the two predominant kinds of bankruptcy cases—called Chapter 7 and Chapter 13. When appropriate, Chapter 7 bankruptcy allows a person to be legally excused from repaying most types of debts (but there are certain exceptions.)
Chapter 13 is generally described as Reorganization. In a Chapter 13 Reorganization, a person pays some or all of his or her debts under a structured payment Plan carried out under court protection and supervision. When the Plan term (usually 3 to 5 years) has been completed, the individual receives a discharge and all debts handled under the plan are resolved according the specific Plan terms.
Whatever your background and situation may be, know that there are caring professionals at Bayer, Wishman & Leotta who will explain how bankruptcy might work for you. Our job is to ensure that your financial future will make sense and be full of hope. So bring your questions to us and we will make sure you get common sense answers that you can understand. We hope you will consider us if you need to file bankruptcy in Long Beach.
Bayer, Wishman & Leotta is a full service bankruptcy firm. We have offices in Long Beach, Downtown Los Angeles, and the San Fernando Valley. Our attorneys are Certified Specialists in consumer and small business bankruptcy and you may reach us at (800) 477-3111.
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