Learn the Truth about Bankruptcy in California
Bankruptcy isn’t just for spendthrifts who can’t control their charge card habits. Every day, millions of Americans find themselves in over their heads due to unexpected medical bills, prolonged job loss, or suddenly having to take financial responsibility for a relative. Although the consumer credit industry tries to spread the myth that bankruptcy is only for losers and deadbeats, the truth is that bankruptcy laws are designed to help protect average Americans from unexpected financial hardship beyond their control, as any California bankruptcy lawyer will tell you. If you’re considering bankruptcy, consult with an experienced California bankruptcy attorney to determine if bankruptcy is right for you. Your California bankruptcy attorney can dispel the many bankruptcy myths and set your mind at ease.
Myth #1: After bankruptcy, your credit is ruined and you won’t be able to get a loan or a credit card for a decade.
Truth: To the contrary, your California bankruptcy attorney can explain to you that you are considered a better credit risk after you have eliminated your debt thanks to a bankruptcy proceeding. Why? Consider this: before you consulted with a California bankruptcy attorney and filed for bankruptcy, you were completely overwhelmed by your debts. With bill collectors hounding you at work and at home, mortgages going unpaid, and credit card bills mounting, you had lost the ability to pay your bills on time. Thanks to the California bankruptcy lawyer you hired, your debts were eliminated or reduced. Lenders often recognize that hard-working, responsible get behind on their bills on a fluke, and once their difficult financial circumstances are sorted out by a competent California bankruptcy lawyer, they are once again ready for a new line of credit.
Not everything you hear about bankruptcy is the truth. Michael Shemtoub at the Wilshire Law Group can help you get clear about bankruptcy and make the right decision.
Myth #2: New bankruptcy laws make it very difficult to completely eliminate your debt.
Truth: While the bankruptcy laws implemented in 2005 have made it more difficult to qualify for Chapter 7 bankruptcy, in which your debt can often be completely eliminated, many people considering bankruptcy still qualify. A Chapter 7 bankruptcy lawyer or a Chapter 13 bankruptcy lawyer can explain the different types of bankruptcy to you and help you decide which will work for your situation.
Myth #3: Seniors shouldn’t file for bankruptcy because they will lose their homes.
Truth: Most people who file for bankruptcy are able to save their homes when they rely upon an experienced California bankruptcy lawyer, including seniors.
Call on Lawyers Experienced in Debt Relief
For residents of Southern California, especially within the Bakersfield, Fresno, San Jose, San Diego Riverside, Orange County, or Los Angeles areas, finding an experienced California bankruptcy attorney to handle your case is easy: consult the Wilshire Law Group. The Wilshire Law Group will give you a free consultation to help you determine what course of action you should take. Unlike a less competent California bankruptcy attorney, they guarantee to return your call within 24 hours. Pick up the phone and call upon expert debt relief lawyers today.