What is Bankruptcy?
Bankruptcy is a set of Federal laws that allow people and businesses to restructure their finances. Bankruptcy immediately stops all collection efforts by your creditors and gives you a break so that you can sort out and organize your financial picture. If you are being called by collection agencies, or are receiving collection notices, lawsuits, or your home is in foreclosure, that will stop immediately.
Contrary to what many people think, you do not need to be ‘dead broke’ to file for bankruptcy; people and businesses use bankruptcy protection to press the ‘reset’ button on their finances.In fact, bankruptcy is simply a tool to be used to accomplish a goal. Just like a hammer is the right tool to drive a nail, bankruptcy is a tool that can be used to eliminate crushing and burdensome debt so that you can focus on those expenses that are critical and necessary to your survival and your quality of life – house payments or rent payments, car payments, insurance, food and clothing for your family.
Bankruptcy does not allow you to live ‘rent free,’ nor will it allow you to keep driving your car without paying for it. You do have to pay for the services and benefits that you receive and use…you will not be able to live in an apartment rent free or drive a car for free (unless you own it)…you are not going to be a ‘charity case.’ What will happen is that your credit card bills, medical bills, and other similar debts will be ‘discharged’ (will go away) so that you can focus on the ongoing bills that are necessary for you to live your life; rent, mortgage, car payments, food and clothing. Bankruptcy allows you to shed the onerous burdens and move forward in your new financial ‘fresh start.’
The biggest benefit of bankruptcy is that it offers a mid-course correction, a financial ‘reset’ but only if you can recognize that the course you are on isn’t getting where you need to be. By visiting this website you have already shown that you are not like other people who are hiding their heads in the sand, pretending that bad things aren’t going to happen, and waiting until its too late. You are ready to take action now, and chart your future in a positive direction.
Click here to learn more about the different types of bankruptcy!
I serve the bankruptcy needs for the southern California communities of Lake Forest, Rancho Santa Margarita, Laguna Niguel, Laguna Beach, Laguna Woods, Aliso Viejo, Mission Viejo, San Clemente, Irvine, Costa Mesa, Newport Beach, Tustin, and Santa Ana.
