You Might Not Know as Much About Bankruptcy as You Think: A Bankruptcy Attorney in Bloomington CA Can Help
You may be worried that going through bankruptcy will require the sale of all your assets. Though Chapter 7 bankruptcy does require the sale of some assets, Chapter 13 presents a less harsh alternative. In this program, you may seek debt relief while making regular payments according to a court-approved plan.
To learn more about the options and how you can move forward, contact a bankruptcy attorney in Bloomington CA. At Law Offices of Terrence Fantauzzi we can help you determine if this option is right for you. If so, a dedicated attorney could help you gather the necessary documentation and oversee the debt relief process. Call us now at (909) 552-1238 to get started.
The basics of starting a debt relief petition with the help of a bankruptcy attorney in Bloomington CA
Filing a petition for bankruptcy protection can have an immediate and powerful effect. However, this protection is only possible if the filing party follows the legal guidelines for submitting a comprehensive application. All parties, regardless of their status as an individual, couple, or company, must submit detailed financial data to the court. According to 11 United States Code § 521, this will include:
- A list of creditors and the amount owed to each entity
- A list of assets
- An income statement
- A list of current liabilities
Individuals and couples seeking protection must take an additional step. This involves completing an approved credit counseling course. These take place online over two sessions and teach people about the process and how to avoid debt in the future.
Those who complete the course will receive a certificate of completion, which must accompany any request for bankruptcy protection. A seasoned bankruptcy attorney in Bloomington CA could help petitioners to obtain the information needed to submit an application for bankruptcy.
Today is the day to contact a bankruptcy attorney in Bloomington CA
The threat of foreclosure and other debt collection methods is terrifying for any homeowner or debtor. If a bank or another lender initiated legal proceedings to seize your home. It is essential that you be ready to fight back. If it has not gotten that far yet, then now is the time to take action and prevent further action against you.
Filing bankruptcy will be an immediate stop to all foreclosure and debt collection efforts. Do not wait – contact Law Offices of Terrence Fantauzzi today at (909) 552-1238 to request a free legal consultation with a bankruptcy attorney in Bloomington CA.