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Financial stability is extremely important in our lives. However, debt can make it equally difficult to get ahead. At the Orantes Law Firm, we strive to help our clients in Los Angeles County and Orange County (including Los Angeles and Irvine) improve their financial stability with practical advice.

Bankruptcy can be a confusing and intimidating experience. It is important to carefully consider what steps to take when preparing to file for bankruptcy. If you do not take the correct steps, it could leave you in a situation that doesn’t fit your needs in the way that you would like.

Almost everyone nowadays uses a credit card or charge account to make regular purchases. Typically, we track these purchases either online or through our paper statements to ensure the charges are correct and that our credit is in good standing. However, occasionally a billing error may occur and you’ll need to take steps to correct it.

Bankruptcy can leave a negative mark on your credit report for up to 10 years. However, contrary to popular belief, bankruptcy will not ruin your credit forever. Fortunately, it is possible to rebuild your credit if you take the right steps and are willing to put some effort into it.

Few would argue that over the past few years, we have witnessed significant changes in the American economy. Not only has the COVID-19 pandemic drastically shifted the way we purchase goods, but it appears that everything from homes, automobiles, gas and everyday items like milk and bread has drastically increased in price.

The past few years have created difficult financial situations for many people. While causing financial problems, the COVID-19 pandemic has also strained many marriages. As a result, some people may be seeking a divorce at the same time that they are considering filing for bankruptcy.

During the COVID-19 pandemic, many families experienced serious financial hardship. As a result, the federal government implemented a mortgage forbearance program that allowed homeowners to pause in making mortgage payments on their homes.

The bill was signed and goes into effect today increasing the debt limits for a Small Business Debtor to $7.5 million and for Chapter 13 debtors to an aggregate of $2.75 million (secured and unsecured, noncontingent/liquidated).

There’s no denying that the bankruptcy process is demanding and emotional. Yet, the process allows for a new start. While complicated, bankruptcy is the best solution for many people searching for a way to escape crushing financial debt.

There are many unappealing aspects of being in debt. As if the stress of being in dire financial straits wasn’t enough, having to deal with harassment from creditors makes an already bad situation that much worse. You need to understand that you have rights. When you start working with an experienced bankruptcy lawyer, you can stand up to your creditors, come up with a long-term plan, and stop living in fear.