Legal Question in Bankruptcy in California
I need advice on bankrupcy
I have a television repair shop but business is very bad I am about 5 months behind on my mortgage and collectors call daily I need to know what my legal options are and the best way to aliviate my situation and maybe stay open
3 Answers from Attorneys
Re: I need advice on bankrupcy
Sounds like a Chapter 13 is a possibility. If you live in the Los Angeles area and would like a consultation, please contact my office and I will be happy to help. (818)509-1173
Re: I need advice on bankrupcy
Sounds like you need a detailed consultation. Most attorneys will give you one for free. I certainly would.
Re: I need advice on bankrupcy
Chapter 13 would be a consideration to reorganize your debt to possibly save you real property, and business. However, feasibility is one of the requirements of confirmation (i.e. your income is sufficient to support your necessary and reasonable expenses, while also being able to fund the monthly plan payment.
A Chapter 7 would not be a direct mechanism to get you current on your house; furthermore non-exempt assets could be in jeopardy.
The bottom line is that it is in your best interest to obtain a consultation from an experience bankruptcy lawyer. Of course you can call us for a phone consultation 213-625-0161.
Best of Luck,
Marcus
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