There are two types of bankruptcy that most people will file when they are in a dire financial situation. The first one is called Chapter 7 bankruptcy, and the other is called Chapter 13. The first type of bankruptcy is actually capable of wiping away all of the debts that you have to creditors with the exception of student loans and certain other financial obligations. On the other hand, Chapter 13 bankruptcy is designed to help people repay the debts that they owe, or at least part of them, in an attempt to resolve their situation. All of this will take a substantial amount of paperwork and expertise that only a bankruptcy attorney can provide. Your goal is to find one in Ontario CA that is currently accepting new clients.
There are some advantages associated with filing this type of bankruptcy over the other. First of all, it might not be a good idea to do a liquidation of your assets as you would with Chapter 7. Instead, you will be able to keep your assets and pay off what you owe in a much more reasonable manner. For example, if you have a home that is foreclosing, and you would like to keep it, you can keep this asset and begin to pay off what you owe with payments that are affordable.
These lawyers can be found online, and they will have websites which will detail what they are able to do for people in Ontario. You will look for bankruptcy attorneys in particular, and you will find several that will currently have openings. You will set up appointments with each one of these, presenting your situation to them, and they will tell you how they will be able to help. They will also tell you how much it will cost to file a bankruptcy so that you can take care of your financial problems.
One of the main reasons that people will file this type of bankruptcy is that it is very similar to a debt consolidation loan. If you have ever had several credit cards that were at high interest rates, and the payments were outrageous, you have likely consolidated these into one credit card that had a much lower interest rate. It is for this reason that people will choose this form of bankruptcy because they will not only be able to keep their assets, but they can make very reasonable payments on a similar amount of debt. It’s a good way to keep most of what you have, and still pay off what you owe.
After you have had a chance to evaluate the different chapter 13 bankruptcy attorneys in Ontario CA, there will be one that will stand out. This individual is the one that you should choose because of their perceived competency during your meeting with them, and also the prices that they will charge for this type of service. Once this is done, it will mark a new chapter in your life. You will literally be able to function financially for what might be the first time in several months or years. Talk to a bankruptcy attorney in Ontario today that will be able to help you take care of this difficult financial situation.