Bankruptcy and the Holidays
When people think of the Christmas season and all that it entails few think about using the time off to file for bankruptcy. No one wants to have to deal with the work and stress of bankruptcy at this time of year but often the pressures and difficulties of the end of the year can be the finally straw that sends someone into bankruptcy. While we don’t want to ruin your holiday season with reminding you of financial woes, we can help you deal with your problems and start the new year fresh with a clean slate.
Chapter 7 Bankruptcy as an Option
If you are dealing with mountains of debt that you can’t handle and you need help then consider chapter 7 bankruptcy as an option. In a chapter 7 the bank liquidates your assets to be able to pay off your debts, whatever debts can’t be covered by your assets are then discharged, subject to some exceptions. The benefits of a chapter 7 are clear, you get out of all of your debt, except for back taxes and student loans; however, it comes at a price, you have to sell almost everything you own to try and pay as much of the debt as possible.
While a chapter 7 involves liquidation of almost all your assets there are some exemptions to allow you to keep some of your things as you go through bankruptcy. Bankruptcy law can be quite complicated and that’s why you need the help of an experienced attorney to make sure you don’t make any mistakes. At Salcido Law Firm we can help you get through your bankruptcy quickly and efficiently without making costly mistakes and ensuring that you are allowed to keep as much of your things as possible. Call or email us today to find out more about how we can help you start the new year fresh.