Bankruptcy Law

Recover From Debt Using Bankruptcy

When debt becomes too much to bear for your household or your business, bankruptcy protection could be the next step. The fastest and least expensive way to take advantage of bankruptcy law is to hire an experienced bankruptcy attorney. Foremost Law, provides personalized, helpful bankruptcy advice for families and businesses in Fountain Valley, California.

Bankruptcy Explained

There are three types of bankruptcy that most commonly serve individuals and businesses that are struggling with overwhelming debt: Chapter 7 bankruptcy, Chapter 11 bankruptcy and Chapter 13 bankruptcy.

  • Chapter 7 Bankruptcy. Also known as "liquidation bankruptcy," this form of bankruptcy allows you to rid yourself of many forms of debt. In exchange, you may have to give up some of your property, and your credit rating will be impacted.
  • Chapter 13 Bankruptcy. As opposed to Chapter 7, Chapter 13 bankruptcy is commonly known as "reorganization bankruptcy." If you qualify based on your monthly income and the size of your debts, you can use Chapter 13 bankruptcy to set up a repayment plan. This allows you to keep your property, though repayment may take several years to complete.
  • Chapter 11 Bankruptcy. Unlike the previous two forms of bankruptcy, Chapter 11 bankruptcy is mostly intended for businesses, not individuals. Among other things, it allows you to reorganize your business to improve your chances of profitability.

Our lawyers are ready to provide you with honest, clear advice on how to get through your debt problems. Bankruptcy is not admitting defeat. It is a tool that helps you recover from financial difficulties.

Talk To Us About Your Situation

To talk to one of our attorneys about whether bankruptcy is right for you, call us at 714-426-9715 or contact us via email. Our firm speaks Arabic, Farsi, Spanish and Vietnamese.