LOS ANGELES BANKRUPTCY ATTORNEY
What is Bankruptcy?
Bankruptcy is a process in which consumers and businesses can eliminate or restructure their debt under the strong protection of the Federal Bankruptcy Court. The bankruptcy process is a helpful and necessary system in the United States which serves to give individuals a “fresh start” from debt.
Often feared by those in financial trouble, the bankruptcy system is crucial to the functioning of a modern economy and an essential tool of those that simply cannot catch up. Bankruptcy filings not only remove the burden of excessive debt, they keep credit flowing throughout the economy.
Goal of Bankruptcy
The desired outcome of any bankruptcy case is a discharge. A discharge is an official order from the federal bankruptcy court eliminating all applicable debt and permanently disallowing any creditor from attempting to collect on such debt. Although the discharge is permanent, it is not all inclusive and certain types of debt cannot be discharged.
Chapters of Bankruptcy
There are currently six bankruptcy chapters. This number is a surprise to many people, as most individuals are only aware of Chapters 7, 11, and 13. The more uncommon bankruptcy chapters include Chapters 9, 12, and 15. Chapter 9 is used by municipalities, Chapter 12 is the bankruptcy chapter for family farmers and fisherman, and Chapter 15 involves the unusual scenario of foreign debtors.
Turning to the more common chapters of bankruptcy, Chapters 7 is by far the most common bankruptcy chapter. A Chapters 7, or “fresh start,” bankruptcy is appropriate for individuals in need of help because they cannot afford to pay back their debt.
Chapter 13 bankruptcy is the second most common chapter for individuals. Chapter 13 permits a debtor to repay his or her debts over a period of three to five years. Chapter 13 bankruptcy can also be used to save a vehicle or a home if a debtor has fallen behind on payments. In certain situations, a Chapter 13 bankruptcy can even eliminate the junior mortgages on a property.
Chapter 11 bankruptcy is the third most common bankruptcy chapter, which can be used by both individuals and businesses. Chapter 11 involves a complex reorganization of debt for those debtors above the debt limits permitted in a Chapter 13.
Trustee
There are currently six bankruptcy chapters. This number is a surprise to many people, as most individuals are only aware of Chapters 7, 11, and 13. The more uncommon bankruptcy chapters include Chapters 9, 12, and 15. Chapter 9 is used by municipalities, Chapter 12 is the bankruptcy chapter for family farmers and fisherman, and Chapter 15 involves the unusual scenario of foreign debtors.
Turning to the more common chapters of bankruptcy, Chapters 7 is by far the most common bankruptcy chapter. A Chapters 7, or “fresh start,” bankruptcy is appropriate for individuals in need of help because they cannot afford to pay back their debt.
Chapter 13 bankruptcy is the second most common chapter for individuals. Chapter 13 permits a debtor to repay his or her debts over a period of three to five years. Chapter 13 bankruptcy can also be used to save a vehicle or a home if a debtor has fallen behind on payments. In certain situations, a Chapter 13 bankruptcy can even eliminate the junior mortgages on a property.
Chapter 11 bankruptcy is the third most common bankruptcy chapter, which can be used by both individuals and businesses. Chapter 11 involves a complex reorganization of debt for those debtors above the debt limits permitted in a Chapter 13.

If you need help with any of the above-mentioned bankruptcy services, contact an experienced Los Angeles Bankruptcy Attorney from Wajda Law Group for your free consultation!
DO YOU THINK BANKRUPTCY MIGHT BE RIGHT FOR YOU?
Talk to us! We promise we can help you! Call Now! (877) 550-0003

Nicholas M. Wajda came highly recommend by Legal Zoom. After talking to him regarding my situation, I knew I could trust him. He listened and had a caring tone in his voice. My situation is now settled and I couldn't have done it without Nicholas Wajda help. I Highly recommend him. Ps. You can always get him on the phone. Great service.

It took a while to decide to file for bankruptcy. First I had a bad experience with an attorney who was incompetent. Once I found Mr. Wajda I knew I was in good hands. He was very polite and professional from the first time I called him. By the way he answers all his calls himself and returns calls promptly. He made everything go smoothly and in no time I got a discharge of my debts. I recommend him highly. Thank you Nick.

The best!!!! Very smooth transition the best of it was I was able to make monthly payments till I had it paid to start my BK-Chap 7 and then sent reminders to me for a payment what ever I was able to afford that month that helped me out so much that I was able to do the BK now When I would send a email with a question I got a fast response I just got my discharge and I'm very thankful to Michael for his understanding and for letting this entire ordeal be so smooth I highly recommend this firm
ARE YOU READY TO TAKE CONTROL OF YOUR DEBT AND MOVE TOWARD FINANCIAL INDEPENDENCE?

CHAPTER 7 AND 13
Turning to the more common chapters of bankruptcy, Chapters 7 is by far the most common bankruptcy chapter. A Chapters 7, or “fresh start,” bankruptcy is appropriate for individuals in need of help because they cannot afford to pay back their debt.
Chapter 13 bankruptcy is the second most common chapter for individuals. Chapter 13 permits a debtor to repay his or her debts over a period of three to five years. Chapter 13 bankruptcy can also be used to save a vehicle or a home if a debtor has fallen behind on payments. In certain situations, a Chapter 13 bankruptcy can even eliminate the junior mortgages on a property.
Contact us and we will work with you to determine what is right for you.
ESTATE PLANNING ENSURES THAT YOU AND YOUR FAMILY ARE PROTECTED.
LET'S GET STARTED PREPARING FOR YOUR FUTURE

An essential step in protecting you and your family’s future is to create an all-encompassing estate plan. Here at Wajda Law Group, we have the knowledge and experience to create such protection for you. Although discussing an estate plan is something most people do not want to think about, proper protections are necessary in nearly all situations, and planning early can save you and your loved ones valuable time and money in the future.
IT MIGHT BE TIME FOR YOU TO GET HELP.
WHEN SHOULD YOU HIRE A FORECLOSURE ATTORNEY?
When it comes to foreclosure, hiring an attorney early in the process helps ensure that you have more options available to you than what might be available later in the foreclosure process. For example, the lawyer can help you work out a deal with the lender that will allow you to stay in the home, or, if necessary, fight the foreclosure in court. If you wait too long, however, it might be too late to stop the process.
