Understanding the Basics of a California Bankruptcy

The economy has tanked over the last several years, and as a result good hardworking people have lost their jobs and gone into debt. Much of this debt was through no fault of their own, since they did not anticipate losing their jobs. They based their bills on what they made, never dreaming that the economy would take such a hard hit. When businesses started closing their doors, many people were left without jobs, and were only able to receive unemployment benefits for a limited time. When your funds are limited, it comes to a choice between putting food on the table and paying your creditors. If you have struggled to pay your bills, and feel like you are in way over your head financially, then bankruptcy may be just the solution that you need. It is important to get an experienced bankruptcy attorney that you can trust.

Hiring an Experienced Attorney

When you are contemplating the idea of filing for bankruptcy, it is important to understand that you need to hire a bankruptcy attorney in Anaheim who has a lot of expertise in the field. Bankruptcy law is a Federal matter, so you need someone who is up to date on the current laws, and who is in good standing with the United States Bankruptcy Court in the district that you live in. Filing for bankruptcy can be easy, and the process takes approximately 90 to 100 if you are filing a Chapter 7 liquidation case. The size of the petition typically scares people, but there is really no need to be stressed. The court is just seeking general information about your finances, assets, and debts.

Stop Garnishments and Harassment

Debt collectors love harassing people that owe them money. A bankruptcy will end the madness. Once you have a bankruptcy case number, you will have automatic protection from the bankruptcy court. This means that creditors cannot pursue you personally to collect their debts. They must go through your attorney for all communication. A bankruptcy will stop garnishments, foreclosures, repossessions, and other things until the court has had a chance to evaluate your case. Most secured creditors will allow you to sign a reaffirmation agreement, so that you can keep your home and vehicles if you wish. Click here for more information.

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