When to Consider Bankruptcy

There are many reasons that hardworking middle class families file for bankruptcy despite their best efforts: natural disasters, medical expenses, unemployment, divorce, or simply basic living expenses. Even if it appears that a family has a lot of assets, many families have to answer to growing debt and expenses.

If you are struggling to stay afloat financially, it is important that you address the issue as soon as possible. A Chapter 7 Bankruptcy will allow you to discharge and walk away from most unsecured debts, such as credit card debt, personal loans, medical bills, etc. Additionally, California has a good amount of exemptions, or assets you can keep through the bankruptcy. Given this, most people that file through our office are able to keep everything. Of course, this depends entirely on the amount of assets you have.

Even if you have a steady income, you may be facing serious debt and money loss. In this case, the bankruptcy lawyers at the Werner Law Firm can potentially qualify you for bankruptcy despite your income. It is important to know when to file for bankruptcy. If you are in debt and are considering cashing out or taking a loan on a 401k or other retirement accounts earned through employment, I would advise contacting our office before doing so.

The team at the Werner Law Firm is made up of some of the best bankruptcy lawyers in Encino and our multiple office locations. We were named the Best Bankruptcy Lawyer by California newspaper The Signal, and we continue to hold ourselves to that great standard. Our bankruptcy attorneys can give you a general overview of your options and figure out the best game plan moving forward.