Bankruptcy & Restructuring
Debt isn’t just math—it’s stress, risk, and time pressure. If you’re in Pasadena and drowning in collection calls, lawsuits, business cash-flow problems, or looming foreclosure, you need a plan that’s calm, strategic, and built for your actual situation.
At Terzian Law Group, we help individuals, families, professionals, and business owners in the Pasadena area pursue a smarter path forward—whether that’s a bankruptcy filing, a negotiated settlement, or an out-of-court restructuring.
What We Help Pasadena Clients Do
- Stop creditor harassment and collection pressure
- Pause or prevent lawsuits through lawful protections and structured resolution
- Evaluate whether bankruptcy is truly necessary (sometimes it isn’t)
- Protect key assets using lawful exemptions and careful planning
- Restructure business debt to keep operations alive where possible
- Create an exit strategy when closing the business is the right move
Bankruptcy Options We Handle
Chapter 7 Bankruptcy (Fresh Start)
Best suited for many individuals facing high unsecured debt (credit cards, personal loans, medical bills). For eligible Pasadena clients, Chapter 7 can wipe qualifying unsecured debt and create immediate relief.
How we approach Chapter 7:
- Review income eligibility and risk factors
- Map assets against exemption strategies
- Identify potential issues before filing, not after
Chapter 13 Bankruptcy (Structured Repayment)
If you have reliable income and want to protect assets (often a vehicle or home), Chapter 13 can provide a court-supervised repayment plan.
Why Pasadena clients choose Chapter 13:
- Catch up on arrears over time
- Reduce pressure from aggressive creditors
- Create a predictable, structured path to stability
Chapter 11 Reorganization (Business or High-Complexity Cases)
Chapter 11 isn’t just for huge corporations. It can be a powerful tool for businesses and certain high-complexity cases where restructuring debt and contracts is the priority.
Our focus: keeping what’s viable alive—while negotiating debt and operational pressure with real leverage.
Out-of-Court Restructuring & Debt Workouts
Bankruptcy is not always the best play. For many Pasadena business owners and professionals, we explore alternatives such as:
- Creditor negotiations and payment plans
- Lump-sum settlements (when strategically sound)
- Business restructuring (tightening liabilities, renegotiating obligations)
The goal is simple: lower the heat and get you back into control.
What Makes Terzian Law Group Different
- Strategy-first mindset: We don’t file fast. We file smart.
- Credibility and preparedness: We build cases like they could be scrutinized.
- Human communication: No mystery, no ghosting—just straight answers.
Pasadena Bankruptcy & Restructuring FAQs
Will bankruptcy stop collection calls and lawsuits?
In many cases, bankruptcy triggers a legal stop to collection activity. Timing and circumstances matter.
Will I lose my house or car if I file?
Not necessarily. Many Pasadena clients keep key assets depending on exemptions, equity, and the chosen chapter.
How long does a bankruptcy case take?
Some cases resolve in months; others depend on complexity. What matters is doing it correctly and safely.
Should I drain my retirement accounts to pay debt?
Often, no. That move can cause long-term damage. Get legal advice before making irreversible decisions.
Can a business file while continuing operations?
Sometimes, yes—especially in restructuring contexts. We assess continuity and risk from day one.
What if I’m embarrassed?
Totally normal. But financial distress is common, and the law exists to create orderly solutions.
Don’t wait for the “final notice” to become a lawsuit.
The earlier we talk, the more options you have.
Call Terzian Law Group at (818) 242-1100 or request a confidential consultation through our contact form. If you’re in Pasadena, we’ll help you choose the cleanest path: bankruptcy, restructuring, or a negotiated resolution.