San Fernando & Santa Clarita Bankruptcy Attorney

Frequently Asked Questions

My house is in foreclosure and I’m just not sure what to do.

There are several ways in which a bankruptcy attorney from Cutter & Lax can help avoid your home from going into foreclosure.  Some of the varied options available to you are a bankruptcy, a short sale, or a loan modification.  If your choice is to remain in your home, we can help you work towards a solution that will allow that to occur.

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 bankruptcy works by settling a person’s assets covered under Chapter 7 in order to pay off the creditors.  Once the creditors have been repaid, the bankruptcy court will begin to handle all of the debtor’s dischargeable debts.  With a Chapter 13 bankruptcy, all of the unpaid debts are consolidated into one lump sum, which the individual will pay off over the course of three to five years. 

How do I know if bankruptcy is right for me?

Filing for bankruptcy is a personal decision that requires some thought and appropriate information.  The choice should be made after consulting an attorney, so that you have all the information you need to make the right choice. After an attorney reviews your current financial status, they can give you an opinion as to whether or not bankruptcy is even right for you, and advise you as to which type of bankruptcy would best serve your particular situation.

Will filing for bankruptcy destroy my credit?

A bankruptcy will appear on your credit report for 10 years, but this does not mean you will not be able to obtain credit again.  You should be able to start building credit again within a few years after your case has been discharged.  There are ways to begin rebuilding your credit that an Attorney from Cutter & Lax can recommend for you.

Contact an San Fernando & Santa Clarita Bankruptcy Attorney from Cutter & Lax to get answers to your questions on Bankruptcy, Debt Relief or Loan Modifications.