Talk to a Bankruptcy Attorney in Glendale When You’re Unable to Pay Your Bills

by | Mar 6, 2014 | Bankruptcy Law

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When you’re in a financial situation that’s causing you to default on your bills, you need help. Getting out of this kind of a situation is difficult, and you may not be able to fix things to your satisfaction. Add into this the fact that creditors are ruthless about getting paid, and you could be in bigger trouble than you were before. This is the point where bankruptcy protection may be a good idea, and a Bankruptcy Attorney in Glendale can help you make this decision.

How your debt is configured is going to play a role in what chapter of bankruptcy you enter. Your income is another aspect that is taken into consideration, and your assets. In the event that you have little assets, such as a car that has little to no value, rent instead of own, and have possessions that wouldn’t fetch much if they were sold, then it’s likely you’ll go into Chapter 7 bankruptcy. The reason being is that you have nothing of value for the court to liquidate to satisfy your creditors, and you are in no position to repay them on your own. This chapter of bankruptcy clears all of your eligible debts, relieving the pressure on your income immediately.

In the event that you have assets you want to protect, and have adequate income, you may be able to file under Chapter 13. All of your debts are reorganized, allowing you to make lower payments on most of your debt. It also gives you the opportunity to cure any debts you are behind on, such as a mortgage, and bring them current without the fear of losing the asset. In the event you have debts that are not eligible, you can still file a Chapter 13 to reorganize them into payments that are easier for you to manage.

You can learn more about what is involved with filing by talking to a Glendale Bankruptcy Attorney. There, you can learn more about your potential options and how your life will change. A lawyer examines your personal situation and gives advice on how to proceed. More information is also available at


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