Rancho Cucamonga Bankruptcy Lawyer

When you have large amounts of debt, it can feel impossible to make payments and move forward with your life. Whether you are an individual struggling to keep up with credit card bills or a business owner unable to turn a profit, filing for bankruptcy could give you the financial stability you need.

A successful bankruptcy filing could halt all current and future collection efforts and result in the discharge of most forms of debt. A Rancho Cucamonga bankruptcy lawyer could guide you through the debt relief process. Reach out to a dedicated attorney to learn more about your bankruptcy options.

Rancho Cucamonga Bankruptcy Lawyer

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Bankruptcy Protections for Individuals and Couples
Bankruptcy Protections for Individuals and Couples

Personal debt can place a significant strain on individuals and couples. Falling behind on bills can result in ceaseless collection calls, threats of lawsuits, and even wage garnishments. Fortunately, it is possible to apply for a discharge of many forms of debt through a bankruptcy petition. There are two main forms of bankruptcy that individuals and couples use—Chapter 7 and Chapter 13.

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy is available to most petitioners. In this form of debt relief, the court may order the liquidation of some assets to pay creditors. Even so, petitioners have the option to claim certain assets as exempt from this process.

Chapter 13 Bankruptcy

Under a Chapter 13 bankruptcy petition, the court will approve a payment plan that the petitioner will pay into every month. After completing this plan, the eligible debts listed on the petition may disappear. A dedicated attorney in Rancho Cucamonga could help individuals and couples pursue debt relief through either of these forms of bankruptcy.

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Assisting Rancho Cucamonga Companies Facing Overwhelming Debt

Businesses may also face high levels of debt that make it difficult to turn a profit or pay employees. Whether a company is a sole proprietorship, a partnership, or a large corporation, bankruptcy is always an option when seeking financial protection.

Winding Down Operations with Chapter 7

As with individuals and couples, all companies can seek debt relief through a Chapter 7 petition. This will result in the sale of most of the company’s assets and will cause the company to cease operations. Chapter 7 may be a valid option for business owners looking to wind down operations. A skilled lawyer could help companies understand the benefits of Chapter 7 bankruptcy and guide them through the debt relief process.

Let a Rancho Cucamonga Bankruptcy Attorney Help

Overwhelming debt is something that millions of individuals, couples, and businesses deal with. It can seem impossible to dig out from under this heavy burden, especially with the constant threats of collections and lawsuits. Fortunately, you can seek relief by filing a bankruptcy petition.

Chapter 7 and Chapter 13 bankruptcies are the most typically filed but have different methods, procedures, and timelines. Chapter 13 bankruptcy has more protections than Chapter 7 but takes much more time to complete. Attorney Terrence Fantauzzi has many years of experience with bankruptcy. He can help you understand the differences between these forms of debt relief so you can make the best choice for your particular situation.

Whether you have calculated your debts or not, call our office for a free consultation. A Rancho Cucamonga bankruptcy lawyer could evaluate your current financial situation, suggest a debt relief plan that fits your needs, and take the necessary steps to bring these plans to fruition. Contact us today to begin working toward a fresh financial start.

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    Law Office of Terrence Fantauzzi

    Law Office of Terrence Fantauzzi
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