The recent global recession has resulted to a lot of people who lost their jobs. If you are one of them, you might find yourself struggling with your economic situation and you might be unable to answer to your debts. When this happens, you might want to think about filing bankruptcy San Diego.
The bankruptcy law aims to help the citizens in their financial struggles. This gives you a new chance to start over with your credit standing. Once you file this, though, it will appear in your credit history for 10 years. In order to succeed in your filing, you have to follow some steps.
To start off, you need to learn about the matter through research. You should know what needs to be done and what the effects are when you go through this. Courts will allow you to file this without hiring a lawyer but for your success rate to be high, one would be needed.
There are many lawyers in San Diego that can handle your case related to your financial crisis. You need to choose a good one to represent you in court and someone who can answer your inquiries about the case. It is also necessary that he can advise you on the best way to go about it.
There are two options available for you if you decide to file. Chapter 7 allows you to eliminate most of the unsecured debts that you have in a matter of months. This will also allow you to keep your properties that are protected by exemption laws.
There is also Chapter 13 that provides you with a different option. You get to retain your properties but you need to pay the creditors within 3-5 years. The court will also look into how you handle your money within this period.
When filing bankruptcy San Diego, it is a must for you to know how much you will spend on the case. You should ask your lawyer upfront how much his fee is and how you can pay it. You can avail of payment plans for the court charges that you cannot waive.
The bankruptcy law aims to help the citizens in their financial struggles. This gives you a new chance to start over with your credit standing. Once you file this, though, it will appear in your credit history for 10 years. In order to succeed in your filing, you have to follow some steps.
To start off, you need to learn about the matter through research. You should know what needs to be done and what the effects are when you go through this. Courts will allow you to file this without hiring a lawyer but for your success rate to be high, one would be needed.
There are many lawyers in San Diego that can handle your case related to your financial crisis. You need to choose a good one to represent you in court and someone who can answer your inquiries about the case. It is also necessary that he can advise you on the best way to go about it.
There are two options available for you if you decide to file. Chapter 7 allows you to eliminate most of the unsecured debts that you have in a matter of months. This will also allow you to keep your properties that are protected by exemption laws.
There is also Chapter 13 that provides you with a different option. You get to retain your properties but you need to pay the creditors within 3-5 years. The court will also look into how you handle your money within this period.
When filing bankruptcy San Diego, it is a must for you to know how much you will spend on the case. You should ask your lawyer upfront how much his fee is and how you can pay it. You can avail of payment plans for the court charges that you cannot waive.
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