You remember that old song Hotel California by the Eagles? It’s time for a new updated version titled Bankruptcy California.
There are many reasons why you should consider filing for bankruptcy California. Especially if there seem to be no way out of your financial predicament. Making use of a skilled California bankruptcy attorney will give you the power you need to lift you out of your financial mess.
In doing so, you will be able to stop debt collectors from haggling you, prevent foreclosures, stop any repossessions of vehicle, and halt wage garnishment. Once you have decided to pursue the route of bankruptcy, you will be able to move on with your life, unhindered by financial downfalls that were the result of unforeseen financial blows.
Another reason why you should file for bankruptcy in California, is that you will have the opportunity to be involved in credit counseling and management classes to teach you how to handle your finances better in the future.
Reasons Why People Get Into Debt
Anxiety and stress are well known symptoms when you are on the brink of bankruptcy. All the more reason for people in this predicament to make use of the services of a bankruptcy California attorney.
Let us look at some of the reasons why people cannot help but to fall into the debt trap:
• Job loss is a major reason
• Unexpected medical bills that no provision was made for
• Falling into the trap of overspending due to not budgeting
• Divorce can cripple anyone financial depending on the outcome
• People overusing credit cards to pay for certain unforeseen expenses
• Investments gone bad
• Not ensuring that there is sufficient emergency funds
There are many more reasons why people fall into the debt trap. You will find that there are certain misconceptions about filing bankruptcy. It will be a good idea to take a close look at some of these.
What You Need to Know About Bankruptcy California
You will find that there are a couple of misconceptions about bankruptcy that goes around. People will tell you that you will lose most if not all your possessions such as your house, the car you own, investment accounts, etc. You may even be told that your credit will suffer, and that you will not be able to find a job, buy a home ever again or even another car.
This could not be further from the truth. You are allowed to keep your car, your home, bank account and even other assets when filing for bankruptcy. Your California bankruptcy attorney will tell you this much. Did you know that bankruptcy can raise your credit score. You may even be able to qualify in buying a car right after you filed bankruptcy. The other truth that you are not told, is that you could buy a house two years after you filed bankruptcy.
What Filing Bankruptcy Can Do For You
It is a great and powerful tool to use. Your bankruptcy California attorney or lawyer will tell you that much. Especially if used correctly. Just imagine the possibilities. We would like to list them for you here:
• You won’t be in debt anymore
• That dream home can be saved for
• The ability to pay for your child’s education
• Putting away towards your retirement
• Saving for that 10 to 15% down payment on another car
• Taking out a new mortgage loan two years after you filed bankruptcy.
The most important thing to remember is not to try to do this on your own. Contact your bankruptcy California attorney. This way you will find out from your attorney, after careful assessment, whether bankruptcy is right for you. If it gets discovered that bankruptcy is not right for you, then your Californian bankruptcy attorney must give you alternative non bankruptcy options.
You will now have the power in knowing whether bankruptcy is right for you or not. This truth will be told by none other than your bankruptcy attorney. They have the experience to know what you are allowed to do that is in line with the law.
You may very well believe that there is simply no way out for you. Well, there is no need to feel this way. The solution to your problem is simply a phone call away. All you need to do is to pick up your phone and call your bankruptcy California attorney.