If you’re struggling under a mountain of debt, filing for bankruptcy is a way you can get back on track toward a sound financial future. Bankruptcy is an option that, under the protection of the federal government, allows you to eliminate some or all of your debt.
Bankruptcy is typically divided into two categories: liquidation and reorganization. Chapter 7 falls under the liquidation category because it allows the bankruptcy trustee to liquidate any unprotected property to pay back your debt.
Chapter 13 bankruptcy falls under the reorganization category because it lets you keep your property but requires you to make monthly payments over a three to five year period.
When you’re tired of harassing creditors and pending lawsuits, count on Nathan A. Berneman, APC in Thousand Oaks to help you find a solution to your money troubles. Schedule your initial consultation with our bankruptcy lawyer today, and rest easier tonight knowing you’re on your way to a sound financial future.