As an Orange County bankruptcy lawyer, we help individuals and families get out from under debt so they can live life with a clean slate. As the New Year approaches, now is the time to think about the blessings of the past year, the challenges, and what you want 2016 to be like. If you have spent the last year struggling to pay your bills, dodging debt collectors, and in fear of repossession notices, it is time for a change. Filing bankruptcy can help give you a fresh start so you and your family can have a better financial future.
Filing Bankruptcy Can Provide You Relief From:
- Constant debt collector calls.
- Collection notices in the mail.
- Threats of repossession.
- Foreclosure.
Once you have filed for bankruptcy, all these things will temporarily stop. Your creditors will not be able to pursue you for money or repossess your things while you are going through this process. What happens to your belongings and to your debts will be up to the court, so they have to wait until the decision is made. This can give you more time to sort out your finances and plans.
An Orange County bankruptcy Lawyer Can Explain Your Options
When you come in for a consultation, we can discuss your goals and what you are trying to accomplish. There is more than one type of bankruptcy, and beyond that, we can also help you negotiate directly with your creditors. Since you have options, it is important to review all of them in order to determine the best way forward. It helps if you can do a few things before your appointment.
- Make a list of all your debts and what your monthly payments are.
- Organize them by category. For example, credit cards, home loans, car loans, personal debt, student loans, etc.
- List out your living expenses. Be sure to include what you spend on groceries, daycare, medical expenses, gas, insurance, etc.
- Gather your pay stubs to see how much money you bring home after taxes.
- Think about whether you want to continue living in your home and driving your cars.
Bring this information with you so we can review it, discuss what you want to accomplish, and make a recommendation based on your personal financial situation. In some cases, it is best to file a liquidation bankruptcy (Chapter 7). If the money is simply not there to pay any debts, this is your best bet. If, however, you want to eliminate your credit card debt but keep paying your car and home loans, you may want to consider a consolidation or Chapter 13. We can discuss these options with you, along with the pros and cons of each, when you visit our office for a consultation.
Schedule an Appointment With an Orange County Bankruptcy Lawyer Today
Filing for bankruptcy can be a good move, but it can also be complicated. Working with an attorney is wise for making sure you and your family are protected throughout the process.