Bankruptcy is a legal decoration of a debtor that he cannot manage to pay off his outstanding debts. Might you have found yourself or your business in such a situation? If yes then bankruptcy is the best option for you. You will therefore require the services of a certified advocate to advise you on how to effectively handle bankruptcy and get debt relief services. Karadijan and Escobar is one the best legal firms in Van Nuys that have gained popularity in offering professional legal services.
Before hiring a professional law corporation to advise you on how to handle bankruptcy issues there are various factors that you should always put into consideration. You should ensure the company you are hiring has experience in legal affairs for more than 5 years. Such a company will give you an assurance of getting quality services that will increase chances of successfully filling bankruptcy suits. Ensure the company has also been licensed by the relevant authority to offer legal services in that state. Such a company will be conversant with laws governing a particular state since every state has its own set of rules.
One of the main benefits of filing a bankruptcy case is that you will be freed completely from the burden of your debts and the stress that you might you be having. This offers some options that you can choose from depending on your situation. The most prefer bankruptcy options includes chapter 7 in which an individual prefers to file a case under. It allows the debtor to shed off his burdens of debts completely. Under this option the court appoints a trustee who is assigned the responsibility of evaluating the value of total assets that a debtor owns. The assets are liquidated thereafter and the creditors are paid off the debt.
The next option is in chapter 13 but this one cannot be availed to everyone. It allows a debtor to pay his debts after a period of 3-5 years. This means that a debtor should have a sustainable income source to be able to pay up after a specific period of time. Once you apply for this chapter of bankruptcy you will be required to send in a repayment plan to the court for approval.
It is advisable to seek professional help instead of getting into bankruptcy intricacies. Van nuys residents can seek Karadijan and Escobar Corporation to help them in dealing with bankruptcy cases. You are assured of getting free consultation and affordable charges for other services lend to you. For more information Visit https://kelawfirm.com/ or call 949.705.4630 – 323.426.8300 – 818.574.1202
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