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.