Many people find themselves in difficult financial situations due to circumstances beyond their control. If you are feeling overwhelmed by debt, you may need the help of a bankruptcy attorney in El Cajon, CA. Our law firm has 40 years of experience helping clients file for bankruptcy in California. The Law Offices of Andrew H. Griffin III offer free consultations, and we will work with you to find the best solution for your situation.
What Happens When You File for Bankruptcy?
Filing for bankruptcy can provide you with a fresh start and relief from your debts. By filing for bankruptcy, you could eliminate some of your debts or pay down a portion over time. It will also grant you an automatic stay, which will prevent creditors from collecting. There will also be a block on any garnishments or attempts to remove money from your bank account or any other assets. Filing for bankruptcy allows you to work with both creditors and the court to determine your repayment plan and next steps.
Types of Bankruptcies
Our El Cajon law firm provides counsel for all bankruptcy types:
- Chapter 7
- Chapter 11
- Chapter 13
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Call (619) 853-3009 for a FREE consultation to discuss your case with our El Cajon bankruptcy lawyer, or contact us online 24 hours a day to find the right bankruptcy option for you.
What most sets our firm apart is our constant communication. Our staff speaks both English and Spanish to better serve a diverse clientele. We've been in practice since 1983 and have helped countless clients seek relief from crushing debt. Our clients find it easy to reach whomever is working on their case, and we send frequent case updates to keep them in the loop. All documents pertaining to a client's case are immediately accessible to them, so they always know where their case stands. It's practices like these that help our clients experience genuine financial peace. When you need the leading bankruptcy attorneys in El Cajon, CA turn to our team.
Many people assume that filing for bankruptcy will severely damage their credit score. While it is true that bankruptcy will appear on your credit report for several years, it can also provide a fresh start for your finances and actually improve your credit score in the long run.
Here are a few ways that bankruptcy can help improve your credit score:
- Elimination of debt: Bankruptcy can discharge many types of unsecured debt, such as credit card balances and medical bills. By eliminating these debts, you can improve your debt-to-income ratio, which is a key factor in determining your credit score.
- Rebuilding credit: After filing for bankruptcy, you can begin rebuilding your credit by applying for secured credit cards or loans, which require a deposit or collateral. By making timely payments on these accounts, you can establish a positive payment history and boost your credit score.
- Reduced risk: Lenders and creditors view bankruptcy as a way to reduce the risk of lending to you. Since you are no longer burdened by unmanageable debt, you are seen as a more reliable borrower and may be eligible for lower interest rates and better loan terms.
If you are considering bankruptcy as a way to improve your financial situation, contact our El Cajon bankruptcy attorneys today to schedule a free consultation and learn more about your options.
Our El Cajon bankruptcy law firm understands filing for bankruptcy can be a difficult decision. Our goal is simple: help our clients find the type of bankruptcy that is best suited to their situation. Every client's circumstances are unique, so to find the best solution for their needs, our team bankruptcy law firm offers free consultations to help debtors weigh their options.
Filing for bankruptcy can be a stressful experience, but our firm will be with you every step of the way. Call (619) 853-3009 today to schedule a free consultation with our El Cajon bankruptcy attorney!
- Chapter 7 bankruptcy is the most common type. It allows you to discharge most of your debts, including credit card debt, medical bills, and personal loans. To qualify for Chapter 7 bankruptcy, your income must be below the median for California, which currently stands at $38,576.
- Chapter 11 bankruptcy is typically used by businesses that want to reorganize their finances. However, individuals can also file for Chapter 11 bankruptcy if they meet certain requirements.
- Chapter 13 bankruptcy allows you to consolidate your debts and pay them off over 3-5 years with a single monthly payment. This type of bankruptcy is available to people with a steady income, so it is sometimes called the "wage earner's bankruptcy."