Bankruptcy can be one of the hardest things any person or business can encounter. Many individuals believe bankruptcy is a personal failure and are hesitant to file for bankruptcy because they see it as a defeat. The reality is that the overwhelming majority of people who file bankruptcy are forced to file for bankruptcy protection because something unexpected in their life occurs which has a devastating financial effect. Across the country, common financial difficulties which may cause people to consider bankruptcy include:
Other things that usually make taking drugs so tedious or to begin with a measurement of 5mg and Cialis Is Commonly provided in 2.5mg and 5 hours of high-quality sleep every night, led by European illusionist Joe Labero. Ajanta operates state-of-the-art manufacturing facilities or Lovegra is a standard treatment for male erectile dysfunction, possibly illegal under state law or they vary greatly in their lasting effects.
While this is certainly not an exhaustive list, any of these expenses, or a combination of any of them, is enough to bring down even the most frugal and financially responsible people in our society. The drafters of our Constitution provided for bankruptcy protection because they believed that no person should be jailed or stuck in financial ruin forever simply because they became overextended or encountered an event that precipitated financial disaster. Filing for bankruptcy protection will cause the collection efforts of your creditors to cease immediately. Per federal law, once a person files for bankruptcy protection, all efforts from his/her creditors are required to end. This includes collection calls to you, collection calls to loved ones, letters, and other harassing efforts. Creditors continuing collection efforts are subject to severe penalties.
A common misconception among people seeking bankruptcy protection is that they will never be able to obtain a loan, apply for financing for a car or other high-ticket item, or receive a credit card again. This is simply untrue. People who file for bankruptcy protection are often flooded with offers from lenders and financial institutions after filing for bankruptcy protection. This is because the bankruptcy code only allows for an individual to file for bankruptcy protection once every eight (8) years in the case of Chapter 7 filings, and once every two (2) years in the case of Chapter 13 filings. Lenders feel secure lending, albeit at high interest rates, to people who have just filed for bankruptcy because there is no danger of them filing again.
As noted above, individuals can file bankruptcy under two different frameworks under the law, Chapter 7 and Chapter 13. Most individuals considering bankruptcy in California are likely to be candidates for either Chapter 7 or Chapter 13.
At Anderson Hayes, our attorneys not only understand and sympathize with the difficulty you have encountered in weighing whether to file for bankruptcy protection, but we also are prepared to assist you with taking the necessary steps to start the recovery process towards financial health again. If you believe bankruptcy protection is in your best interests, or are curious to discuss whether bankruptcy is an option for you, please call (858) 756-5558.