You may be wondering if you should file bankruptcy if your credit card bills are getting out of control. If you have tax debts that you cannot pay, and you are already behind on your mortgage, you may be experiencing sleepless nights. You may have a job and work hard to earn a living, but unexpected medical bills have made this next to impossible.
If you are struggling with any type of debt, you are not alone. There are many people who, not because of being irresponsible but because of suffering hardships in life, have found themselves struggling financially. This is what bankruptcy is for. It is a legal way to relieve you of dischargeable debts so that you can move on and make a fresh start financially.
Now is the time to find out if Chapter 7 is right for you. There are things you have to do before you actually file your petition with the court. One of the first things is to meet with a bankruptcy attorney in Moreno Valley CA.
You will get a chance to consult with them to find out if you have other alternatives. You might, for example, be able to make repayment plans with individual creditors if your debts are not so overwhelming. Before you file bankruptcy you want to consider any alternatives that you may have.
You should also speak with an attorney so you can find out if you are a good candidate for Chapter 7. You need to make a certain amount of income in order to be able to file in California. This depends on the number of people in your household and is determined through something called a means test. Before you file you also have to attend a credit counseling session.
Going through a bankruptcy will take about seven months and it will leave you will poor credit. However, you may be able to keep your home or your car. It may be better to be able to start over again with bad credit and no debt than to carry on struggling.
Many times one of the biggest struggles is dealing with collection calls and letters. Once you file, you are no longer going to be contacted by your creditors who are trying to collect their debts. This can give you more peace of mind so that you can continue to work and make money to take care of your family.
Not every debt will go away when you file. Some tax debts and child support will not be discharged. However, all unsecured debts will. Talk to a Moreno Valley Chapter 7 bankruptcy attorney today to get more information.
They will review your situation and be able to let you know if you have other options. Your first consultation is free. Check with your San Bernardino attorney to find out more about your options so that you can move forward and file Chapter 7 bankruptcy to relieve your stress and get on with your life without burdensome debts.