When you file for personal bankruptcy, you are taking a step towards mending your financial problems. Although it’s not a pleasant thought, filing for personal bankruptcy may be your best option to regaining control of your financial future. Just the thought of filing personal bankruptcy can send some people reeling, but it doesn’t have to feel that way. Personal bankruptcy is often seen as a stigma that will effect your professional and personal life, but this is often not the case.
Personal bankruptcy can be caused by many things; overwhelming credit card debt, poor investments, job loss or an unexpected medical emergency. While personal bankruptcy may contain long-term effects, it is also a way to get your financial situation under control so you no longer feel so troubled and helpless.
Filing for personal bankruptcy does not have to be complicated if you educate yourself on the entire process. You will most likely want to use the services of California bankruptcy attorneys who can help guide you through the step by step process of personal bankruptcy. Having California bankruptcy attorneys guide you through the bankruptcy process will help with the success of your personal bankruptcy case.
Qualified California bankruptcy attorneys will help you determine if filing Chapter 7 or Chapter 13 personal bankruptcy is right for you. Chapter 7 is usually the best choice for individuals looking into personal bankruptcy for a few reasons. One reason being that when the personal bankruptcy process is completed, most people will walk away with a fresh start and a clean slate. Another reason people are drawn toward Chapter 7 personal bankruptcy is because your assets and property you’ve worked so hard to acquire are not lost. Your California bankruptcy attorneys will be able to advise you on which type of personal bankruptcy is right for your situation.
After your petition is filed, your creditors will be contacted to inform them that you are filing for personal bankruptcy. Once you have filed, your creditors are no longer allowed to contact you or to collect money from you. No more harassing creditor calls, credit card payments, lawsuits and foreclosures. As stressful as it may be to file for personal bankruptcy, in the end keep in mind that you will have a new beginning and a clean financial slate.
Individuals considering filing for personal bankruptcy should never feel humiliated or embarrassed. The personal bankruptcy laws were designed to allow individuals a fresh start on their road to financial recovery.