Bankruptcy

Call 909-915-0181 or 760-835-9353

El Abogado habla Espanol

National Association of Consumer Bankruptcy Attorneys  

Attorney Edgar P Lombera

FAQs for Bankruptcy

WHAT CAN CREDITORS DO IF I CANNOT PAY MY BILLS
-Harass you and your family at home and work
-Sue you and your family
-Obtain a judgment lien against you
-Garnishee up to 25% of your wages from each paycheck
-Freeze your bank account and any other liquid assets
-Force the sale of your home
-Force you to appear in court and be cross examined
-Force you to appear in court and disclose all your assets under oath, including emptying your pockets and other humiliating procedures in front of a Superior Court judge

WHAT WILL BANKRUPTCY DO FOR ME
-Eliminate most credit card bills, loans, medical bills, and civil lawsuits
-Enable you to keep your home and car if you continue making payments
-Stop collection activities by creditors
-Stop a wage garnishment
-Stop a foreclosure sale of your home
-Protect your personal property
-Stop the harassment of collection activities

WHAT WILL THE BANKRUPTCY ATTORNEY DO FOR ME
-Represent you in court
-Appear with you at your required bankruptcy court hearing
-Protect your wages
-Temporarily stop a repossession
-Take calls from your creditors so they no longer harass you
-Complete and file the entire bankruptcy package
-Provide you legal advice
-Protect your car and other personal property

DO I NEED AN ATTORNEY TO FILE BANKRUPTCY
No, but since you can file a Chapter 7 bankruptcy only once every six years, why take the chance. A non-attorney can prepare a bankruptcy, but generally these are typing services that are not allowed to give you legal advice. Moreover, they cannot represent you in court, cannot accept your creditor calls, and may not do it right. If they do not do it right, you may lose property you could have kept, you may have to re-file a corrected document by having it completely done over at significant additional cost, and you may have it totally rejected by the bankruptcy court. If a creditor discovers you have filed without an attorney, you may be deemed "easy pickings" at the court hearing, leaving you to deal with creditor challenges to your bankruptcy all by yourself.

WHAT WILL A BANKRUPTCY DO TO MY CREDIT
It may well improve it. Being in debt and making your payments does not mean you have good credit; it means you are in debt. A bankruptcy may well improve your credit because all the debt that was there before is now gone, leaving the decks clear to qualify you for credit. Creditors know you can file bankruptcy generally only once every eight years, so they realize they now have a new six-year window of opportunity to make money on you all over again.

HOW LONG WILL A BANKRUPTCY SHOW ON MY CREDIT REPORT
Generally 7-10 years, but that is not the important issue. The important issue is how quickly you will be able to obtain new credit. Many of our clients who are otherwise qualified report within two months of their bankruptcy discharge, they are receiving pre-approved credit card offers, within six months of their discharge, pre-approved car loan purchase offers, and within a year of their discharge, they are able to purchase a home.
WHAT ABOUT DEBT CONSOLIDATION PROGRAMS
These programs provide for long term payments on your outstanding debts with the hope that somehow your debts will be paid off and your credit will be restored. The programs work for very few individuals who have significant extra cash every month to enable them to pay down their debts. This situation does not exist for most people. Accordingly, these programs generally wreck your credit because your credit report will announce to the world that you are in a "debt program," or equivalent. These terms will spook most creditors, and confirm beyond question you are having serious financial difficulties.

If you'd like to take the first step toward becoming free of debt, call Lomberalaw Bankruptcies immediately at 909-915-0181 for a free consultation.

Cities Supported: San Bernardino, Redlands, Yucaipa, Colton, Muscoy, Fontana, Rialto, Banning, Big Bear, Crestline, High Desert, Hesperia, Adelanto, Victorville, Grand Terrace, Rancho Cucamonga, Los Angeles, Upland, Ontario, Pomona, Chino, Montclair, Riverside, Moreno Valley, Corona, Cathedral City, Palm Springs, Palm Desert, Indian Wells, Coachella Valley

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