Is Bankruptcy Right for Me?

Irvine Bankruptcy Attorney

In today's tough economic climate, there are many types of difficulties that a person may encounter that make them unable to pay some or all of their bills.  A person can lose their job or face an unexpected medical emergency that prevents them from working and adds to their already overwhelming debt.  U.S. bankruptcy laws were written to enable either an individual or a business with too much debt to get out from underneath their financial burden and provide them with a new start.  There are several different programs that are designed to handle individuals with different situations.  Anyone wanting to learn more about bankruptcy protection should speak to an Irvine bankruptcy lawyer at the Law Offices of Arthur R. Hausmann. 

A person with high debts and few assets may qualify for Chapter 7 bankruptcy.  This type of bankruptcy is referred to as a "debt elimination" bankruptcy because it can wipe away all unsecured debts such as credit cards and other bills completely.  Personal possessions such as furniture, car and tools are protected, and all collection calls and threats of repossession are stopped.  Someone with a regular income who may have equity in a home or other real estate will probably qualify for a Chapter 13 bankruptcy.  This allows them to repay their debts over an extended period, usually three to five years, with no interest.  As with any bankruptcy, the court orders all debt collection calls to cease and any threatened foreclosure or wage garnishment is blocked.

Bankruptcy Lawyer in Irvine

Bankruptcy is not for everyone.  Each person, family or business has a unique set of circumstances.  To find out whether bankruptcy may be able to help them, they should consult with an experienced and knowledgeable bankruptcy attorney.  Arthur R. Hausmann has successfully helped many individuals resolve their complex financial problems through bankruptcy.  After a careful review of their situation, he will be able to explain whether bankruptcy is the best solution.  If not, he can offer several other financial solutions available to individuals to help them consolidate or restructure their debts.  The firm also services clients residing in Huntington Beach, Costa Mesa, Anaheim and Santa Ana.

Contact an Irvine bankruptcy attorney for a free consultation to learn how bankruptcy can help solve a person's financial problems by eliminating or restructuring their unpaid debts.