You have probably heard a lot of ‘negative things’ about bankruptcy- how it may be the worst mistake you could ever make, that you will never be able to get credit again, that you will lose everything you have, etc. The list goes on and on. But don’t be misled. Most of what you’ve heard is simply not true. Everyone’s situation is different. What you need to know is that one person’s experience doesn’t necessarily have to be yours- if you do things the right way.
In today’s economic climate, a lot of people are finding themselves with no other alternative but to get out of debt and start fresh. This is especially true with the wave of foreclosures that we have seen in the last few years. Although the government has done its best to stem the tide, there is no doubt that there are still thousands of people who are living in homes that they can no longer afford. Some of them have applied for a loan modification hoping to work something out with their lender. Many have been denied and re-applied, only to be told again and again that they cannot be helped. Thousands of homeowners are confused and facing an uncertain future. They have not been able to accept the fact that the home they have invested all their money in can be taken away from them at anytime.
At one time or another, we all make bad financial decisions in our lives. But this doesn’t make us bad people- it only means that it is impossible to see into the future and anticipate the consequences of our decisions. Of course, there are also factors that are beyond your control- unemployment, illness, injury or perhaps the death of a loved one that you count on for support. These are unpleasant thoughts to consider but they some of the major reasons why people file for bankruptcy. Unfortunately, we are not a nation of “savers”; we are a nation of “spenders”. Most people do not have an emergency fund and all it takes is missing one paycheck before financial trouble starts. Most people just squeak by from month to month, hoping that they will survive.
If you are behind on your bills, you become a target for lawsuits by creditors. If you don’t fight the lawsuit because you really owe the money and cannot afford an attorney, an automatic judgment will be filed against you. The creditor can then garnish your wages or wipe out your bank account leaving you in a much worse situation. Don’t let this happen. If you are in debt with no way out, you owe it to yourself to find out what you can do legally to protect yourself.
For a free consultation, call Toll-Free 1-866-477-7772. Let us evaluate your situation and recommend possible options. We have offices in Glendale, Cerritos, West Covina, Valencia and Riverside.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped thousands of clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1 (866) 477-7772.