Chapter 7 and Chapter 13 Bankruptcy Attorneys in Palmdale California

Price Law Group has licensed bankruptcy attorneys located in Palmdale California that offer residents with bankruptcy filing assistance for both Chapter 7 and Chapter 13 bankruptcy. Filing for bankruptcy can be the right solution to your financial situation and can help you get the relief that you need from your many outstanding debts.

Palmdale residents typically have two options when it comes to declaring bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy and each type of bankruptcy offers filers protection from their creditors and gets them the debt relief that they need.

Chapter 7 bankruptcy in Palmdale California may sometimes be referred to as “liquidation” or “straight bankruptcy”. You must qualify for this type of bankruptcy with the main qualification being that you earn less than the median income in your specific area. If you make the median income, or more than the median income, you may still qualify for Chapter 7 bankruptcy in Palmdale California. There is no repayment plan in Chapter 7 bankruptcy and you can get the immediate relief that you need on your outstanding debts.

Chapter 13 bankruptcy, also known as “wage-earners” bankruptcy is type of bankruptcy that provides a person the ability to start fresh, but still requires the filer to pay off some of their outstanding debts. Palmdale California residents that file under Chapter 13 will have monies set aside to cover rent or a house payment, utilities, a car payment, etc. but the majority of your income will be put towards paying off your outstanding debts calculated over a 3 to 5 year period.

Get the relief that you need on your mounting debts by filing for Chapter 7 or Chapter 13 bankruptcy in Palmdale California. Price Law Group understands the situation that you are in and can help you start fresh in your financial life. Let us review your financial situation to determine if Chapter 7 or Chapter 13 bankruptcy is the right answer to your financial burden.