Bankruptcy FAQ

Bankruptcy Lawyer in San Fernando Valley

Can anyone file for bankruptcy?
Although bankruptcy laws protect everyone, whether bankruptcy can apply to everyone depends on their specific financial situation.  Some individuals do not qualify for certain types of bankruptcy and others may find that bankruptcy is not the best legal option for them.  By consulting with a San Fernando Valley bankruptcy attorney we can help you determine whether bankruptcy is the right choice for you.

What type of bankruptcy is right for me?
Every person's financial situation is unique, and with the different forms of bankruptcy that exist, it is best to contact the Law Offices of John Ribarich in order to have your legal remedies reviewed with you.  Our firm will work with you to determine the best course of action for your situation. 

What is the difference between Chapter 7 and Chapter 13 Bankruptcy?
The main difference between the two is that Chapter 7 allows for your debts to be discharged, while Chapter 13 restructures your debt for it to be repaid within 3-5 years.  However, not all individuals qualify for Chapter 7 bankruptcy, and a Chapter 13 requires a person have a steady income.  A close review of your financial situation can best determine which would be best for you.

Are there some debts that I cannot get rid of in bankruptcy?
Unfortunately, there are some that do not qualify to be discharged in any type of bankruptcy.  Certain tax liabilities, student loans, child support, court ordered restitution and some other types of debt must continue to be repaid.

Can I file a bankruptcy on my own?
There is nothing in the law that prevents a person from filing for their own bankruptcy, however we do not recommend it.  The bankruptcy laws are complex and require filings be done in a timely manner.  Any errors in the filing of the petition can lead to certain debts of yours not be discharged or included in your bankruptcy, thereby leaving you still responsible for them.  These errors could also lead to delays that will continue the amount of debt you owe.  Retaining an attorney from our firm will give you relief from creditors, as well as the peace of mind knowing that your financial information was all taken into consideration appropriately, ensuring you filed the correct type of filing for you circumstances.

If you have questions regarding bankruptcy and whether it is right for you, contact a San Fernando Valley Bankruptcy Lawyer for answers.