Los Angeles Bankruptcy Attorneys
Experience True Debt Relief by Calling Us Today 
Mandatory Disclosures

Mandatory Disclosures in Los Angeles Bankruptcies

Essential Details about the Filing Process

The United States government requires all bankruptcy lawyers to inform business owners, corporations, and individuals of essential details regarding bankruptcy. Weintraub & Selth, APC can explain these mandatory disclosures in more detail when you contact our office at (310) 220-4147. We also offer the following overview of the mandatory disclosures.

The Definition of Bankruptcy

Bankruptcy is a method of relief provided by the government for people and businesses unable to pay their debts. The Bankruptcy Code is separated into chapters. The debtor’s particular circumstances will allow them to file using a particular chapter’s rules and regulations. Chapter 7 (“liquidation”), Chapter 11 (“reorganization” for businesses, corporations, and partnerships), and Chapter 13 (“reorganization” for individuals) are the most commonly known chapters. Each of these, and other lesser known chapters of the bankruptcy code, provide debt relief for debtors who qualify.

Once bankruptcy is filed, an automatic stay will go into effect which puts a stop to creditor harassment, collection lawsuits, evictions, foreclosures, repossessions, and wage garnishment.

Bankruptcy also involves mandatory credit counseling. You must complete a credit counseling course prior to filing bankruptcy and another course after you have filed. The credit counselor facilitating the courses must be approved by the Office of the U.S. Trustee. Your completion of these courses must be documented.

To File, You Are Not Required to Hire an Attorney

Corporations and partnerships must have an attorney to file but you may file bankruptcy on your own if you are an individual. “Pro se” representation, or representing yourself, is certainly possible. Hiring an attorney to represent you is completely optional.

In addition to choosing to represent yourself or hiring an attorney, other forms of bankruptcy support exist. You may opt for the assistance of a bankruptcy preparer who is not a lawyer. This, however, is also not mandatory. If you seek the assistance of an attorney or a nonlawyer bankruptcy preparer, they are required by law to disclose, in writing, exactly what services they will provide and the cost of those services. There are also free bankruptcy support services available.

If You Have Questions, Call Weintraub & Selth, APC

Depending on your situation, you may qualify for more than one bankruptcy chapter. You may have begun the bankruptcy process or you may still be considering your options. Weintraub & Selth, APC is here to answer your questions and be your advocates.

If you have questions about the mandatory disclosures or any other topic related to debt relief or bankruptcy, contact the bankruptcy lawyers of Weintraub & Selth, APC.

Hear from People We've Helped

Read Our 5 Star Reviews
  • “I am not sure how to express my thanks...”

    - Paul T
  • “[Jim Selth] has always come through in a very professional, timely, and responsible manner.”

    - Marc B.
  • “If you are a business owner going through difficult times and need help restructuring or closing your doors, this is the law firm ...”

    - Paul Trump

Why You Can Trust Our Firm

The Right Firm Makes a Difference
  • Thousands of Cases Handled

    Our experienced attorneys have successfully represented thousands of businesses and individuals with financial problems.

  • We Offer Cost-Effective Expertise

    Flexible fee arrangements enable small and mid-sized businesses to obtain the type of relief usually reserved only for large companies.

  • Big Firm Experience at a Boutique Price

    Our lawyers have big firm training and expertise offered to clients in a cost-effective, boutique firm environment.

  • A Full-Service Bankruptcy Law Firm

    One of the few true full-service bankruptcy firms in Los Angeles specializing in all chapters of the Bankruptcy Code and out of bankruptcy solutions.

Contact Weintraub & Selth, APC Today

Financial Freedom is One Call Away
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.