Is Bankruptcy Right for Me?
Guidance from Our Glendale Bankruptcy Lawyer
When the country's economy dips into dark times, unemployment is high, debt loads are unmanageable, and property values plummet, many people ask: "Is bankruptcy right for me?" This can be a difficult subject to explore, because as a hard-working and diligent person, you have apprehensions about being unable to meet your obligations. In the end, however, little else may be possible to prevent the sleepless nights, the creditor harassment, and the fear and anxiety that you are experiencing. To further explore the possibility of a bankruptcy filing, get in touch with our Glendale bankruptcy lawyer as soon as possible.
A primary misconception about bankruptcy is that it is as simple as going to court and having your debts erased. If you have high unsecured debts but little assets to pay them, you may want to consider Chapter 7, known as liquidation bankruptcy. Reorganization bankruptcy, Chapter 13, is a better option for those who have assets but need their debt reorganized into a manageable repayment plan wherein part of all of their debts are repaid over 3-5 years.
Bankruptcy may not be the right option for you if:
- You received a bankruptcy discharge within the past 8 years
- Someone cosigned a loan for you and can now be held fully responsible for that debt
- You have had a bankruptcy case dismissed previously
- You expect to have an ongoing need to incur debt, such as for medical expenses
- You are accused of defrauding your creditors
- You recently incurred a large amount of debt on luxuries and entertainment items
Free Case Evaluation from Our Bankruptcy Attorney in Glendale
Knowing what to do, what road to take, and when to take it can be overwhelming when you are already burdened by immense worry and emotion. We at RJB Law Offices can consult with you, treating you with dignity and respect and offering clear explanations about your options. If bankruptcy is not the right option for you, we will be honest with that fact and will help you explore other avenues of resolution.
Contact a Glendale bankruptcy attorney today for a free consultation.