Sherman Oaks California Chapter 7 and Chapter 13 Bankruptcy Attorneys

Sherman Oaks California residents rely on Price Law Group for professional bankruptcy services for both Chapter 7 and Chapter 13 bankruptcy. When you are living paycheck to paycheck it can be stressful, especially if trying to make ends meet. Let us help you take control of your financial situation; our experienced bankruptcy attorneys understand the situation you are in and will help guide you through Chapter 7 or Chapter 13 bankruptcy in Sherman Oaks California.

There are typically two options for residents in Sherman Oaks California when it comes to wiping away many of their outstanding debts: Chapter 7 or Chapter 13 bankruptcy and we will help determine which type of bankruptcy is right for your situation.

Chapter 7 bankruptcy in Sherman Oaks 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 Sherman Oaks California. There is no repayment plan in this type of bankruptcy and you can get the immediate relief you need against your outstanding debts.

Chapter 13 bankruptcy in Sherman Oaks California, which is also referred to as “wage-earners” bankruptcy allocates the majority of your income, less any monies set aside for mandatory payments such as car payment, house payment or rent, utilities, and other living expenses, towards paying off your unsecured debts which will be organized into one group. This repayment plan spans 3 to 5 years and is determined based on your specific financial situation.

Start your Chapter 7 or Chapter 13 bankruptcy in Sherman Oaks California with Price Law Group. Let us help you start fresh in your financial life by helping you wipe away many of your outstanding debts. We will help you determine which type of bankruptcy is right for your needs so give us a call today.