Everything the Average American Consumer needs to know about Involuntary Bankruptcy
Involuntary bankruptcy is a legal process of filing for bankruptcy protection when a creditor has not been able to collect payment from the borrower. It is essentially an action taken by creditors in order to try and recoup the money they are owed. Understanding this process can be crucial for the average American consumer, as it can have serious financial implications.
The first step of involuntary bankruptcy is that one or more creditors file a petition with the court, requesting that the debtor be declared bankrupt. This petition must include information such as how much money is owed, who owns it and what assets are available to cover the debt. Once this petition has been filed, the court will then issue an order requiring the debtor to appear before them so that his/her financial situation can be further examined.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is it to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706