Posted by: California Bankruptcy Attorney in MyBlog on Mar 11, 2010
Ask any California bankruptcy attorney and they'll tell you the same thing: bankruptcies in California are up – way up. Just consider these shocking statistics:
• In 2000, the Central District of California bankruptcy court (handles Los Angeles and the surrounding area) processed about 3,000 bankruptcy cases.
• In 2005, new bankruptcy laws went into effect, so it's unsurprising that in 2006, the court processed just 314 bankruptcy cases.
• In 2007, that number rose to 812 cases.
• In 2008, the Central District of California bankruptcy court processed 1,382 cases.
• In 2009, the court processed 2,148 cases.
• So far in 2010, the court has processed 3,526 cases – and at the time of this writing, we're only three months into the year.
Remember, these numbers represent only Los Angeles and the surrounding area. In other words, every bankruptcy attorney in California – even the bad ones – is up to their ears in bankruptcy cases.
Don’t let your debtors take over your home, your car and more. Contacting an Orange County bankruptcy attorney is the best thing to do when you find yourself in severe financial trouble.
Orange County is no different from the rest of California. In January 2010, reports showed that unemployment hit 10.1%. Just from December 2009 to January 2010, the county lost nearly 15,000 jobs, bringing the total number of unemployed to 1.3 million.
Then there's health care. With 15% of Orange County residents living without health care, the combination of job loss and unexpected medical bills can be financially devastating. Many Orange County residents who never would have considered looking for a bankruptcy lawyer in California now suddenly find themselves seeking out the help of an Orange County bankruptcy attorney.
Why Consult with a California Bankruptcy Lawyer?
An Orange County bankruptcy attorney can help you decide if bankruptcy is the right option for you. By declaring a Chapter 7 bankruptcy, in which most of your debts are discharged, or a Chapter 11 bankruptcy, in which the court and your Orange County bankruptcy attorney work out a realistic debt repayment plan with your creditors, you may be spared from home foreclosure, car repossession, and crushing stacks of medical bills.
Without doubt, facing bankruptcy is a low point in anyone's life. However, your Orange County bankruptcy attorney has seen many cases just like yours, and can reassure you that bankruptcy is not an ending, but a new beginning. With the help of a competent Orange County bankruptcy attorney, the burden of debt weighing down your life will be lifted. You'll be given a fresh financial start, and an opportunity to live without constantly worrying about your debts.
Will Bankruptcy Affect Job Opportunities?
Some Orange County residents may hesitate to file for bankruptcy, because they are afraid it will reflect poorly on them and prevent them from being able to find employment. As your Orange County bankruptcy attorney will explain to you, this fear is unfounded. By law, you are under no obligation to reveal your personal financial situation to your current or potential employer, and also by law, employers may not discriminate against you for filing for bankruptcy.
In short, contacting an Orange County bankruptcy attorney might just be the best thing you can do for your financial situation. Although bankruptcy can be a hard pill to swallow, the alternative – such as losing your home, your car, and more – is even worse. Call an Orange County bankruptcy attorney today to set up a consultation.
Bankruptcy can relieve you of your debts and give you a fresh start. Call (877) 427-2752 to talk to a bankruptcy lawyer in California and get advice about your case.