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Tran Bankruptcy Law Provide Bankruptcy Services You Can Depend On

    Bankruptcy Services - Orange CountyThe difficult economy has made bankruptcy services more important for the average family.  Job loss, reductions in hours, and other economic hardships have made bankruptcy a common option for people who never saw themselves in that situation.  Whether you are drowning in debt or simply need a fresh start, Tran Bankruptcy Law can help.

    There are several ways you can go about reducing your debt.  Negotiating with creditors is often a good place to start.  Some will work with you to reduce the payment, interest rate, or extend the loan term. It will depend on their internal policies to determine how much they can help you.  If they agree to terms you can live with, take them and celebrate.

    If you are one of the many people dealing with creditors that are hounding you for money but are unwilling to work with you, bankruptcy services become more important.  There are several types of bankruptcy and you can use it to either structure a payment plan where creditors get a reduced amount over time or liquidate your assets to pay as much of your debts as possible, after which your debts are wiped clean.

    Bankruptcy may sound simple but in reality can be fairly complicated, which is why working with an experienced attorney important.  For example, in a Chapter 7 liquidation bankruptcy the court can sell off all of your assets in order to pay your debts.  If you want to remain in your home and keep driving your car, this is only possible when working with a skilled lawyer.  Tran Bankruptcy Law offers bankruptcy services to help people keep their primary residence when they want to stay there.  The key is that you have to be able to continue making payments in order to prevent the bank from foreclosing.

    The other main type of bankruptcy involves creating a payment plan to pay back your creditors over time.  They typically do not get everything they want but by making payments according to a court approved plan, you are off the hook for the balance.  It is important to understand that the court has to approve your plan and will do so after looking at your income, assets, and the amount of money that you owe.  The court’s goal is to certify plans that are sustainable and will actually work.  No one wants you back in court because the plan was too high for what you could afford.

    The bankruptcy services provided by Tran Bankruptcy Law are comprehensive and include making recommendations for which type of bankruptcy is right for you and your family.  Once retained, the law firm can put your plan together and represent you before the hearing officer and judge. Instead of dealing with creditors on your own, let us help you. Call our office today to schedule a consultation to get started.

     

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