It is an unfortunate fact of our society today, but there are many decent and hard working people who have experienced a financial situation that puts too much burden on their finances to survive financially. Situations such as a lost job, reduced hours at work, or pay cut, divorce, a recent disability or a mortgage payment that is beyond their means can leave even the most organized and prepared person in a financial hardship. Once the outflow of money is more the inflow it is easy to wonder how can I get out of this mess before it turns into a financial disaster.
Filing for bankruptcy protection in Escondido, California may be one option that should be considered. Your Escondido bankruptcy attorney will be able to evaluate your financial situation and give you guidance on whether they think that bankruptcy is a solution that could be considered. Most bankruptcy attorneys offer a free initial consultation to review your financial data and help you decide if bankruptcy is something you want or need to do.
We suggest that you seek a qualified Escondido bankruptcy attorney prior to taking a second mortgage or equity loan on your home to pay an unsecured creditor such as a credit card company prior to speaking with a Escondido bankruptcy attorney. The reason is that your home and any mortgage on that home is a secured debt, while a credit card is an unsecured debt. In most Chapter 7 bankruptcy proceedings in Escondido a person’s unsecured debt is wiped out. Prior to borrowing any money from the equity in your home or withdrawing any money from your retirement accounts it would be wise to speak to a qualified Escondido bankruptcy lawyer.
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About Our Escondido Law Firm
Our team of lawyers is dedicated to helping Escondido county residents resolve their debt problems.
“When we realized bankruptcy was our only option, we were buried in debt and overwhelmed by stress. Our Escondido bankruptcy attorney put us at ease and helped us get through the difficult process without a hitch.” – Tammy B.