While you may feel as though you’re hearing a lot more about bankruptcy today, the facts show differently. In 2011 statistics show that bankruptcy filings dropped by 12 percent throughout the United States. Within the state of California alone there were only 234,443 people who were need for an Orange County bankruptcy attorney in 2011. This is actually good news for you but a bankruptcy attorney los angeles may not feel the same way.
Whenever you talk to a bankruptcy attorney Los Angeles California you’ll learn that there are a couple of different types of bankruptcy that you can file for. There is Chapter 7 Los Angeles whereby you won’t be forced to make repayments and Chapter 13 whereby a repayment plan will be put into place so that you can repay your creditors, either in full or in part, depending upon what a Trustee feels that you can afford. Typically this repayment plan last between 3 and 5 years. Sometimes an Orange County bankruptcy attorney will be able to get the court to discharge you early if you’re going through some type of hardship.
One thing that a bankruptcy attorney Orange County CA may not tell you about though are all of the offers you’ll receive for a new credit card after you’ve completed your bankruptcy. Anywhere from 6 to 12 months after the end of your bankruptcy you’ll start getting new offers for unsecured credit cards. While you may think that this would be a great way in which to start rebuilding your credit, if you’re smart, you’ll talk to an Orange County bankruptcy attorney. They can help you create the best way for you to rebuild your credit so that you won’t need an Orange County bankruptcy attorney again any time in the future. After all, one bankruptcy is enough.