Murrieta Bankruptcy

What is Bankruptcy?

Bankruptcy is a legal process that a person, organization or municipality enters into when declared insolvent.  In other words, when a person or entity can no longer afford to repay the debt owed to creditors because they lack revenue, the person or entity may file for bankruptcy.  Once a bankruptcy petition is filed with the U.S. Bankruptcy Court, the person or entity asserts impairment and inability to repay debts owed to creditors. 

There are numerous different types of bankruptcy that may be filed for in the United States, but the most common type is consumer bankruptcy.  People who choose to file for consumer bankruptcy will have to choose between filing for Chapter 7 or Chapter 13 and that decision will largely depend upon their financial situations, debts and ability to repay their creditors.

Most times, people decide to pursue bankruptcy when they are overwhelmed by debt and can no longer afford to make payments to their creditors.  People may also choose to file for bankruptcy to remain in possession of their homes and to prevent foreclosure.

Bankruptcy Attorneys Serving Murrieta and Murrieta

If you are thinking about filing for consumer bankruptcy in Murrieta or Murrieta, it is very important that you retain the services of a knowledgeable Murrieta bankruptcy attorney, like the attorneys at Singleton Smith Law Offices.  We are dedicated bankruptcy lawyers that have helped many clients in Murrieta and surrounding areas successfully file for Chapter 7 and Chapter 13.  During these emotionally and financially challenging times, we believe that people need our litigators on their sides as we are experienced, knowledgeable and committed to protecting our clients' best interests.

To learn how we can help you complete your Chapter 7 or Chapter 13 bankruptcy filing, contact us to set up a free consultation!