Using a San Diego Bankruptcy Attorney to File Chapter 13

It’s no secret that people are struggling financially in the United States. In fact, some people are saying that these are the most trying economic times since the Great Depression. No matter what the pundits are saying on the major news networks, individuals and families are feeling the financial crunch in their own difficult ways. Families are enduring layoffs, pay cuts and a stagnant real estate market that has them trapped in homes they can’t afford. If you feel like you are at the end of your financial rope and don’t know where to turn for hope, it might be time to explore a San Diego bankruptcy attorney, Chapter 13, and other avenues for relief.

If you’ve never even thought about using a San Diego bankruptcy attorney, Chapter 13 can seem like a strange concept. You’ve probably only heard much about filing Chapter 7 bankruptcy, and even then you might be a little foggy on the difference between the two. By consulting with a San Diego bankruptcy attorney, Chapter 13 can become much clearer, and you’ll be able to make an educated decision about whether declaring bankruptcy is the right decision for you and your family.

While both Chapter 7 and Chapter 13 are types of bankruptcy usually declared by individuals as opposed to businesses and corporations, there are some important differences between how the two will be carried out and how they will affect your finances. Unlike Chapter 7 bankruptcy, to a San Diego bankruptcy attorney Chapter 13 bankruptcy is an options for the individual that still has dependable income and that just needs a little relief to pay back some of his or her debt. With Chapter 13 bankruptcy, the individual is still expected to dedicate a portion of all incoming monies to the creditors that they are in debt to. Certain types of creditors might be able to demand that they take precedence over other creditors.

If you feel like you’ll never be able to dig yourself out of the financial situation that you’ve created, now might be the time to think about a San Diego bankruptcy, Chapter 13, and the other options that you could possibly use to find relief. Your attorney will be able to explain any complicated legal language that might be involved, and will be able to help you decide whether or not this type of bankruptcy is right for you and your family.

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