Skip to main content
BANKRUPTCY
                       Filing for Bankruptcy:
                       Chapter 7:Chapter 13
                       and the Alternatives
When you are deeply in debt and unable to stay afloat financially, juggling your finances and fighting for breathing room, it is time to consider filing for bankruptcy, or find an alternative that will bring you relief. The federal government has provided the opportunity for debtors to get a fresh start through filing bankruptcy. Some cases of serious debt can be resolved through an alternative, and you deserve to know what would best serve you, your family, or your business interests. The Los Angeles Law Firm of T. L, Binns has over two decades of service and can provide you with the individual legal service you deserve.
                         Areas of Practice
Alternatives to Bankruptcy: Many people are not given a full evaluation of their financial scene when considering bankruptcy. What if there is an alternative that would resolve your financial problems, and help you avoid filing bankruptcy? The Los Angeles Law Firm of T. L. Binns takes the time to explore all the alternatives when reviewing your individual case. Read more about the alternatives to bankruptcy...
Benefits of Bankruptcy: The benefits of bankruptcy include discharge of many types of consumer debt, including credit card debt, personal unsecured loans, as well as opportunities to renegotiate underwater mortgages. There are literally hundreds of thousands of individuals and businesses that have filed bankruptcy in recent years, and are already experiencing the relief available under federal bankruptcy law. Read more about the benefits of bankruptcy...
Bankruptcy Exemptions:  Many of your assets will be exempt from liquidation when you file bankruptcy. Most people do not suffer any losses with regard to their personal assets and possessions. We can assist you to learn more about which of your possessions will be exempt. If you are concerned about losing your home or car, you should get legal counsel that you can trust to answer your questions. Read more about the  bankruptcy exemptions...
Bankruptcy FAQ:  You probably have many basic questions about filing for bankruptcy and how it will affect your credit, your ability to purchase a home or car in the future and what debts you will no longer owe. We have provided a Q & A page with answers to all the common questions we hear. Click here for answers on bankruptcy FAQ...
Bankruptcy Myths:  Never get information about such a serious matter through friends, associates or internet sites. We have run into individuals who have seriously affected their ability to get the maximum benefits of bankruptcy that got false information online. For example, running up any credit card debt prior to filing bankruptcy is a very dangerous idea, as recent charges will not be included in the discharge of debt. Read more about the bankruptcy myths...
Business Bankruptcy:  Thousands of businesses in the Los Angeles. area are suffering from the economic downturn and are struggling to pay their vendors or keep sales in a range in which they can survive. For many, the solution of filing for business bankruptcy is the best solution to financial problems that have gotten out of control. Getting relief from lawsuits and regaining control of the financial situation through filing bankruptcy is the best solution. Read more about business bankruptcy...
Chapter 7:  The most common form of bankruptcy is Chapter 7, in which your debts are discharged. The laws were amended in 2005, making the process more complex, but most people in serious financial difficulty will still qualify. The first step in determining if you qualify is the means test. Read more about chapter 7...
Chapter 13: Those who have too many assets or too high an income from employment or are getting a steady paycheck and are self-employed may be better served by filing chapter 13 bankruptcy. This form of bankruptcy allows you the opportunity to pay off your back obligations over a 3 - 5 year period. For those who wish to keep their property, this is often the best option. Read more about chapter 13...
Collections Defense: Are you being hounded by creditors who will stop at nothing to squeeze every cent out of you? This stressful situation can often be successfully addressed through collections defense. Once we take over your account, the creditor no longer has the right to call you, and we handle every aspect of the case. If your rights as a consumer have been violated, we can take action against the collection firm. Read more about collections defense...
Credit Restoration: After your credit has been severely damaged, you may need to know what to do to get back into a position where you will be able to buy on time, get a mortgage or other urgent financial matter. After filing for bankruptcy, you will also want to ensure that your credit report is correct and indicates the discharge of debt and your new financial status so that you can get your credit rating back into good shape. Read more about credit restoration...
Creditor Harassment: Some collection agencies or individuals working for other lenders overstep the bounds of the law when trying to get a debt paid. You are protected from certain types of collection actions by the Fair Debt Collections Practices Act, and if you are the victim of harassment, the collection agency can be held accountable legally. Read more about creditor harassment...
Debt Consolidation:  When you have too many debt obligations to hope to pay at the rate that is required, there could be an opportunity to resolve the issue through debt consolidation. Our firm has served L.A. residents for two decades and is very familiar with negotiating with debt collectors and getting financial issues under control through debt consolidation. Read more about debt consolidation...
Debt Counseling: Filing for bankruptcy now has the requirement that you have debt counseling prior to filing. There are specific agencies that are accredited by the federal government to provide this service to those who are considering filing for bankruptcy. In many cases, the debt counselor recommends bankruptcy after reviewing your situation. We can provide you with the list of accredited agencies, and also guide you through every other aspect of the process. Read more about debt counseling...
Debt Litigation:  There are certain cases in which litigating debts is the right action to protect the individual, both in bankruptcy court and in cases in which the debt involved is in question. We are very skilled in the process and when representing those filing bankruptcy, provide this service so that they can get all possible advantages from their bankruptcy filing. Read more about debt litigation...
Debt Negotiation: Many debts can be negotiated down to a much lower amount, and how this process is approached can have a significant effect on your finances. We are very familiar with how low a debt collector will actually go, and engage in negotiations to come to reasonable terms for our clients. Read more about debt negotiation...
Debt Settlement:  If you are under extreme financial stress and facing calls, letters and legal threats from collectors, it may be possible to arrange a settlement that will give you the relief you need. Settling a debt for an amount that you can afford, usually far, far lower than the original amount, can allow you to get out from under the debt and move forward in rebuilding your finances. Read more about debt settlement...
Debt Consolidation vs. Settlement:  If you are considering either debt consolidation or settlement, understanding how each process will affect your future finances is an important part of making a decision. Most debts can be negotiated down to a more reasonable amount, with punishing interest removed, making the situation more easily handled. When you don't have the financial ability to pay off a settlement, debt consolidation can be a good option. Read more about debt consolidation vs settlement...
Debt Relief:  When you have crushing debt, it is usually one of the most stressful financial situations to experience. Getting relief is crucial to your personal health as well as your ability to move forward and get your finances under control. The Los Angeles Law Firm of T L Binns will assist you to get the relief you need, either through filing bankruptcy or an alternative. Read more about debt relief...
Debt Resolution: Resolving financial difficulties related to debt can be the most urgent situation that individuals, families and business owners face. There are a variety of actions that can be undertaken to get these critical issues under control, and we have the decades of experience in debt resolution that you need when under severe financial stress. Read more about debt resolution...
Deed in Lieu:  If you are paying for a mortgage on a property financed far beyond its current market value, it may not be financially prudent to try to continue. A deed in lieu of foreclosure can be negotiated to assist you to avoid foreclosure and get out from under the obligation. A deed in lieu of foreclosure should be skillfully negotiated and your interests protected, as there is the risk of owing the shortfall if not negotiated correctly. Read more about a deed in lieu...
Discharging Your Debt:  When filing chapter 7 bankruptcy, the goal is the discharge of your debt. This is the most thorough and effective means of resolving severe financial difficulties. Literally hundreds of thousands of California residents and business owners have chosen to take this opportunity to resolve their financial problems and get a fresh start. Read more about discharging your debt...
Fair Debt Collection Practices Act: Consumers are protected from certain actions by creditors under the FDCPA, or Fair Debt Collections Practices Act. They are restricted from making certain types of threats, from calling you over and over in a short period of time, and from using any profanity, among other actions. If you believe you are a victim of creditor harassment, our firm can help you take action. Read more about the Fair Debt Collection Practices Act...
Filing for Bankruptcy:  Are you under severe financial stress and considering filing for bankruptcy? It is important that you understand the risks, benefits and how the process works, and what you can expect in a final outcome with regard to your debts. We can answer your questions and have served the Los Angeles area for over 20 years in personal and business bankruptcy. Read more about filing for bankruptcy...
Filing Jointly: Making a decision about filing jointly or individually can be a critical issue with regard to how your financial difficulties are managed. Considerations include various factors such as the type of properties owned, either individually or together, and what will occur if only one of the couple files, including matters involving foreclosure or other legal threats that can be resolved through bankruptcy. Read more about filing jointly...
Foreclosure Defense: The subprime mortgage boom allowed many people to purchase homes easily, but at the top of the market. If you bought a home and are now facing foreclosure, there could be extremely viable opportunities to defend against this legal action and keep your home. Read more about foreclosure defense...
Freezes on your bank account: If your bank accounts have been frozen, immediate action can be taken to get this resolved. This can occur when a tax authority has taken action against you, when a judgment is in process or when lawsuits against you are pending. Read more abou tresolving freezes on your bank account...
Is Bankruptcy Right for Me?  Filing for bankruptcy is a big decision and should never be made without reviewing the alternatives. In many cases, this is the best possible solution, as it will allow you to get a fresh start and be free from most of your outstanding debts. We can assist in determining whether bankruptcy is the best option for you in your individual or business situation. Read more about is bankruptcy right for me...
Life After Bankruptcy:  What will life actually be like after bankruptcy? Most people notice the immediate benefits when the automatic stay makes it illegal for your creditors to contact you by mail, phone or other means. The benefits can far outweigh any possible risk or damage to your credit. Read more about life after bankruptcy...
Means Test:  A current requirement to determine eligibility for filing chapter 7 is the means test. This test evaluates your financial situation with regard to income and debt. It is important that the test is completed with absolute accuracy, and it is advised that you get assistance to avoid delays, denials or legal problems in the information you provide. Read more about the means test...
Potential Benefits of Bankruptcy:  Filing for bankruptcy is a big decision, with both risks and benefits. The potential benefits of bankruptcy usually will far outweigh any damage that is done to your credit. In fact, a foreclosure can damage your credit far more seriously than filing for bankruptcy, particularly if you hope to purchase a home in the future. Read more about the potential benefits of bankruptcy...
Repossessions: Those who are under severe financial stress can often face threats of repossession of vehicles, tools of their trade purchased on time, or other important possession. There are actions that can be taken to halt the repossession process, including filing for bankruptcy, or an alternative. The important issue is that action is taken quickly to resolve this threat. Read more about repossessions...
Short Sale:  A short sale can be negotiated for those who are paying for a property that no longer makes financial sense. When it is not prudent for you to hang onto an over-mortgaged home or other property, negotiating a short sale can be the solution that allows you to move on with the least possible damage to your credit. Read more about a short sale...
Wage Garnishment:  Are your wages being garnished? This issue can cause extreme financial stress, affecting your ability to pay the day to day expenses you need to survive. Ending a threat of wage garnishment as well as getting the garnishment resolved is very important to hardworking people who are trying to survive in a tough economic environment, and we can help. Read more about wage garnishment...
Why Hire a Bankruptcy Attorney? Although you can file bankruptcy without legal help, the risks involved are actually quite extreme. If you do not provide accurate information or documentation, if your filing is missing required data, or if you do not do the means test properly, you could be denied the opportunity to file, or face delays that make your situation even more serious. Read more about why you should hire a bankruptcy attorney...
Contact the law firm of T. L. Binns without delay for the affordable and competent legal counsel you need for your serious debt related problems.
 

             t l binns law     315 west pondera street. suite c.     lancaster. ca. 93534    tel: 661 949 8099     fax: 661 949 3099     email: tlbinns@tlbinnslaw.com