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.
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.
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.
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.