Law Offices of Nicholas Gebelt

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Bankruptcy vs Debt Settlement

In a recent issue of the L.A. Times, Liz Weston compared bankruptcy and debt settlement as ways to deal with overwhelming debt.  Her column was good, but given the limited space she had, it was a bit brief.  In this post I will expand on her discussion.   I.  Debt Settlement   The idea behind debt settlement is pretty simple:  You ask the creditor to accept less than you owe in full satisfaction of the debt.  You can do the negotiation yourself, or you can hire someone to negotiate on your behalf. If the creditor agrees to lower the balance, you… Read More →

Drunk Driving Debt: Dischargeable If Debtor Was The Injured Person?

Suppose you’re driving home from a New Year’s Eve celebration.  At the party you had one too many glasses of Krug Champagne.  Suddenly a light pole leaps in front of you and you hit it.  You’re badly injured.  You get fine treatment at the hospital, and later receive a bill for $100,000 for the care.  You can’t pay it, so you file for bankruptcy protection.  Is the medical debt dischargeable? Notice that the party who was physically injured in the accident is the bankrupt debtor ? not some third party.  But is the hospital a party that was also injured as… Read More →

How Bankruptcy Can Save Your Home From Foreclosure

Many people throughout the country have realized that they are too much in debt to be able to repay their loans. It can be terrifying and also overwhelming for a person since they do not want to lose their home and assets. One of the first things to consider would be to file for bankruptcy. The problem with this is that many people worry that they will lose their home in the process, yet this is not the case. Filing for bankruptcy can help you keep your home while getting your finances on track. These are some of the ways… Read More →

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In light of the COVID-19 (coronavirus), we offer our clients the ability to meet with us via video conferencing and telephone. Please call our office at (562) 777-9159 to discuss your options. We are here for your legal needs now and in the future. Thank you.

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