Even if you’ve put in the effort to stay on top of your bills and pay your dues on time, sometimes, life just happens and you fall behind. Because of circumstances outside of your control, your debt grows and then eventually you are declared in default. It then escalates and now, to stop your debt from ballooning, you’re forced to declare bankruptcy. Depending on what type of bankruptcy you file for, you might even need to put your Ventura property up for sale.
Not all hope is lost. Find out how bankruptcy can affect your Ventura property and avoid the worst with these tips from licensed bankruptcy attorneys.
How Will Bankruptcy Affect Your Ventura Property?
You may or may not get to keep your property, depending on the sort of bankruptcy you’ve filed. Chapter 7 and Chapter 13 bankruptcy cases are two of the most frequently filed types of bankruptcy. If you file for bankruptcy under chapter 13, you will most likely keep your property. However, if you choose to file under Chapter 7, you might have to part with some of your valuables. However, keep in mind that this is merely a generalization. Talking to a real estate lawyer who knows their way around related real estate laws is still the best course of action.
You don’t have to get through this difficult time in your life alone–you can always seek the advice of a seasoned real estate lawyer. After all, you need someone who knows the law and has experience in real estate by your side, explaining to you how the bankruptcy process will go and what this means for your property.
If you find yourself thinking, “Should I get a real estate lawyer in LA?” Keep on reading, because we will give you a brief comparison of the pros and cons of hiring a real estate lawyer in LA.
Pros of Hiring a Real Estate Lawyer
There are many ways a real estate lawyer can help make your life better as you go through the process of bankruptcy. Here are a few:
- Helps process all of the paper work and prevents the tediousness of red tape
- Provides protection and security when it comes to legal matters and real estate transactions
- Has a wide network of trusted professionals to consult on any issue
- Expert knowledge is indispensable in the bankruptcy process
Cons of Hiring a Real Estate Lawyer
While there are many benefits to working with a real estate attorney, working with an inexperienced or unreliable one might make it more difficult for you to resolve your real estate issues. Here are some other cons of working with an inexperienced or unreliable real estate lawyer:
- Being just a name in his long list of clients
- Not having your case prioritized
- High fees
Of course, the pros outweigh the cons, so the best course of action would still be to hire a real estate lawyer experienced in dealing with bankruptcy. A good real estate lawyer can help you spot any potential problems, if any, during the bankruptcy process. Having a seasoned real estate attorney help you with your real estate needs is like having an extra layer of protection as you wade through the laborious process of bankruptcy.
Conclusion
If you’re dealing with bankruptcy and want to know how this will affect you and your LA property, it would be best to seek the legal advice of a real estate lawyer based in Los Angeles. Luckily for you, you’re on the right page, because The Law Offices of R. Grace Rodriguez can help you with all of your legal matters and real estate needs.
At The Law Office of R. Grace Rodriguez, we will work with you to determine your options and advocate on your behalf for the best possible solution. We have a full-service real estate practice and an extensive knowledge of related California laws. Our services are comprehensive, efficient, and effective.
Escape the stress of dealing with bankruptcy without knowing what it will mean for you and seek the help of an expert today. Here at The Law Office of R. Grace Rodriguez, we will gladly guide you through the legal process in the Los Angeles metropolitan area and Southern California. Strategize with an attorney today! Reach out to us at 818-734-7223 or visit our website for more information. Initial consultations are free.