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Types of Debt

Woodland Hills Bankruptcy Law Firm Since 1988

The types of debt you owe will make a difference in your bankruptcy case. Whether your debt is secured or unsecured will determine how much of it can and should be discharged as well as how much of your assets you will be able to keep if you file. There are a number of important factors to recognize, and an experienced and dedicated bankruptcy lawyer in Woodland Hills from Merritt, Hagen & Sharf, LLP can help make sure that you cover all of your bases. Your bankruptcy attorney also can help assess your particular situation effectively in order to achieve the financial fresh start you need. Read the sections below to learn more about some of the types of debt you may be experiencing.

Credit Card Debt
If you owe a considerable amount of money on credit cards, then you could be eligible to discharge your debts and receive a financial fresh start through Chapter 7 bankruptcy. Your credit card company does have the right to sue you if you are behind on your payments, so it is important to act quickly to achieve the debt relief you need.

Medical Bills
If you or someone in your family has experienced a long-term health issue or a sudden medical emergency, you could be facing overwhelming medical bills — particularly if you do not have sufficient healthcare coverage or you are uninsured. You are not alone: In December 2008, 21 percent of Americans said they were struggling to repay medical bills.

Tax Debt
What can you do about tax debt? Unfortunately, like student loans, most tax debts are non-dischargeable even in a Chapter 7 bankruptcy. There are certain situations in which you may be able to discharge your federal income taxes in a liquidation bankruptcy, however, so consult our firm.

Loan Debt
People fall behind on paying back a variety of types of loans, including car loans and mortgage loans. Whatever situation you are facing, it is important to contact a qualified Woodland Hills bankruptcy attorney at our firm who can help you assess your situation and come to the right solution.

Consult Merritt, Hagen & Sharf, LLP today!

If you are struggling to repay insurmountable debt, don't hesitate to receive the help you need from an experienced and dedicated attorney. At Merritt, Hagen & Sharf, LLP, we have been helping Southern Californians in the San Fernando Valley, Woodland Hills, and surrounding areas for more than 25 years. Since our firm opened its doors in 1988, we have helped more than 9,000 individuals and businesses find viable solutions to the debt troubles they faced. Call our Southern California bankruptcy law firm today to set up a case evaluation with a dedicated legal professional who will look out for your best interests and help you achieve a hopeful financial future.

Merritt, Hagen & Sharf, LLP
Woodland Hills Bankruptcy Lawyer
5950 Canoga Avenue
Suite 400

Woodland Hills, CA 91367

Phone: 818.861.9917 | Local Phone: (818) 992-1940
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Internet Marketing Experts The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.