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Los Angeles Bankruptcy Attorney

Posted by: California Bankruptcy Attorney on Apr 02, 2010

Tagged in: Los Angeles Bankruptcy Attorney

While few Americans have been spared from the recent economic downturn, the residents of Los Angeles and the surrounding area in particular have suffered more than most. According to an NBC survey in 2009 of 354 metropolitan areas, Los Angeles was number one in job loss. Just from November 2008 to November 2009, the Los Angeles area shed nearly 200,000 jobs. With such horrific, long-term unemployment, it's not surprising that the services of a Los Angeles bankruptcy attorney are in higher demand than ever before.

Bankruptcy in Los Angeles

According to Professor Robert Lawless, a law professor at the University of Illinois and contributor to the Consumer Bankruptcy Project, California has seen one of the steepest increases in the country for bankruptcy filings over the past couple of years – a fact that comes as no surprise to the average California bankruptcy lawyer (Source: Los Angeles Times, June 28, 2009). A bankruptcy attorney in California would probably point to California's high foreclosure rate as part of the problem; California's housing market, for years regarded as one of the most inflated in the nation, crashed harder than most in America.

With the help of a Los Angeles bankruptcy attorney, you have a far better chance of succeeding in filing for bankruptcy and stopping foreclosure.

On any given morning in the bankruptcy filing office, it's not unusual to see as many as twenty people filling out paperwork and preparing to declare bankruptcy. Unfortunately for these individuals, many are filing without a Los Angeles bankruptcy attorney, meaning that stopping a foreclosure sale on their home will be unlikely. In the short term, as soon as a bankruptcy filing is turned in, the foreclosure sale is put on hold, but without the aid of a bankruptcy lawyer in California, many sales go through in the end anyway.

Ask a California bankruptcy attorney just how bad it's gotten out there, and they might point you in the direction of the Central District of California bankruptcy court's statistics. In 2007, the court, which handles bankruptcies in Los Angeles and the surrounding area, handled 812 bankruptcy cases. In 2008, it handled 1,382 cases. In 2009, that number went up to 2,148. So far in 2010, it has already processed 3,526 cases (Source: Central District of California bankruptcy court statistics, http://www.cacb.uscourts.gov/).

Find a Los Angeles Bankruptcy Attorney

When you're already deep in debt, the last thing you probably want to consider is paying legal fees, especially when you can file bankruptcy paperwork yourself. However, consider the fact that the bank that's planning to sell your home off will be represented in court by attorneys who know the law well. Without a bankruptcy attorney in California to represent your side of the story, your chances of saving your home are slim at best. Although you may not want the expense of a Los Angeles bankruptcy attorney, in the long run, legal fees are certainly a small price to pay compared to losing your home.

With years of experience, California bankruptcy attorney, Michal Shemtoub can guide you in the bankruptcy process. Call (877) 427-2752 and make an appointment for free consultation now.

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