Law Offices of Christie Cronenweth, PC
Law Offices of Christie Cronenweth, PC
Our Services
CHAPTER 7
Chapter 7 bankruptcy is the most common form of bankruptcy for regular people. It allows you relief from most or all of your debt while usually allowing you to keep most or all of your assets. Chapter 7 bankruptcy takes approximately 3-4 months to complete. In the beginning of the process, it is wise to meet with an attorney and have that attorney conduct a full consultation. After that meeting, the only required meeting is often to show up at the hearing for your brief interview with your attorney and the trustee. From that point, it is usually just a matter of waiting for your discharge to come in the mail about 60-90 days later.
Once it is finished, you will receive a "discharge" in the mail from the court indicating you no longer owe any discharged debt. Collectors are then never allowed to attempt collection.
Many people believe they must give up their homes or vehicles if they file a bankruptcy, and that it will ruin their credit. In most cases, people are able to keep all of their property, and oftentimes filing one actually helps their credit. This is true because filing a chapter 7 does not get rid of all the positive credit you have established throughout your life. It simply gets rid of the debt under which you are currently suffering.
It is important to understand you have a right to file a bankruptcy. As long as you have not committed fraud (which is fairly rare), and you qualify for a chapter 7, it is there to help you. The truth of the matter is that bankruptcy is a part of our society because it is not good for the economy when you are drowning in debt to creditors.
If you do speak with an attorney who tells you that you do not qualify for a chapter 7, please call our office before looking into a chapter 13 or any other options. Many times, we find that you do qualify, and that a chapter 7 is the best move for your particular situation.
Dispelling Myths
- Bankruptcy does not ruin your credit. In fact, if your credit is already low, it will usually help it.
- Filing bankruptcy does not mean you must give up your car or your house.
- Filing bankruptcy does not mean you will have bad credit for many years. In fact, you will get credit card offers immediately afterward and can begin rebuilding right away. Mortgage companies will usually finance a new house after two years.
- Making a good salary does not necessarily mean you cannot qualify for a Chapter 7.
- Filing bankruptcy does not affect your immigration status.
- Filing bankruptcy does not affect your security clearance.
- You will not go to jail for owing a credit card debt.
- You most likely know more than a few people who have filed for bankruptcy.
CHAPTER 13
Chapter 13 is more complicated than a chapter 7, but it can be a helpful tool for people that are in particular situations. For example, a chapter 13 may be the right choice when a person cannot qualify for a chapter 7 because their income is too high, or if they have a home which is about to foreclose. There are many more examples, but since each person's situation is different, it is important to meet with an attorney in order to establish the best options for you.
Chapter 13 is usually a 3-5 year program wherein you are in a payment program directly with the court. A person pays the court once a month, and the court distributes that payment to your various creditors. Once the 3-5 years has passed, your bankruptcy is complete.
Once it is finished, you will receive a "discharge" in the mail from the court indicating you no longer owe any discharged debt. Collectors are then never allowed to attempt collection.
The Law Offices of Christie Cronenweth, PC will be able to tell you whether filing a Chapter 7, or Chapter 13 bankruptcy will work in your specific situation, or will advise you regarding other options. Call (310) 257-4995 for your FREE consultation today.
Debt Settlement
For some people, bankruptcy is not the right option. In this case, it is sometimes the best option to attempt to settle your debt for much less than you owe.
Settling your debt means the creditor agrees to accept less than you owe for a total satisfaction of the debt. Please note that Settling debts has different ramifications than bankruptcy. It is a good idea to learn about each option and how it will affect your situation.
Our offices will be happy to give you some guidance in the best practices of settling your debt, or you may hire us to do it for you.
Law Offices of Christie Cronenweth, PC services all areas in Los Angeles and the South Bay, including Torrance, Hawthorne, San Pedro, Lomita, Harbor City, Wilmington, Carson, El Segundo, Inglewood, Lawndale, Hermosa Beach, Manhattan Beach, Redondo Beach, Palos Verdes, and Gardena. The Law Offices of Christie Cronenweth, PC is a debt relief agency helping people to file bankruptcy under the Bankruptcy Code. Additionally, The Law Offices of Christie Cronenweth, PC helps people decide if other options are available, or better for their situation.