Bankruptcy Attorney Riverside, North County San Diego & San Diego Metro

There are many benefits for individuals and businesses in a bankruptcy filing. 

• Why are you dealing with endless and distressing creditor calls, letters, lawsuits and other problems that come with crushing debt? 
• If you can not pay your debt, why would you continue to deprive yourself the piece of mind that comes with living debt free?
• Do you enjoy being hounded by creditors, juggling payments while getting further and further behind?  

The answers are obvious, and many times so is a solution. We can help, contact our office and we will provide you with a free consultation with an experienced bankruptcy attorney. 

The other aspect that is extremely helpful is that in a Chapter 7 bankruptcy, your debt is discharged. You no longer owe many types of debts and they will be a “ZERO” balance on your credit report. There are certain types of debts that cannot be discharged or liquidated, such as alimony, student loans, child support and recent taxes. However, most people can handle a certain level of payments when their entire income is not eaten up by payments.

Bankruptcy Lawyer in Carlsbad

Another aspect that is of great benefit after filing bankruptcy is that you have the opportunity to make a fresh start financially. It is as if you are completely starting over and have the ability to create a better financial future for yourself and your family. While it is true that your credit report will show a bankruptcy filing, as so many individuals have filed over the past years, it no longer has the stigma it once did. In fact, within a few months after filing for bankruptcy you will often receive offers for credit cards in your mailbox. Granted, these cards usually have a higher interest rate and low amounts of available credit, but if you carefully manage these cards, the offers will keep coming in. In fact, your credit was probably already in serious trouble if you are considering filing for bankruptcy, or would be shortly. Having debt discharged by a Chapter 7 bankruptcy is a great relief to most individuals.

Some individuals who are employed or self-employed and receiving steady paychecks decide to use Chapter 13 instead, or may not qualify for Chapter 7 due to income level or value of assets. This also is a powerful tool provided by the federal government to give such individuals a solution for overwhelming debt. You will be given the opportunity to pay off outstanding debt over a period of 3 – 5 years in most cases. This makes the payments much lower and in some cases the principal amount will be reduced. The bankruptcy court will review your situation and find a way to “reorganize” your back debt so that it can be paid off more easily. This can give you the opportunity to work out a solution for a home mortgage that has blown up and gives more protection to any co-signer on your mortgage or other loans.

The biggest advantage you may discover after filing for bankruptcy is the utter peace and serenity that you will experience when you are no longer hounded by creditors. This allows you to get on with your life and create a new future for yourself and your family.

Contact a Carlsbad Bankruptcy Attorney from Legal Objective if you are considering filing for bankruptcy, either Chapter 7 or Chapter 13 in the San Diego Metro Area or South Riverside County area.