Bankruptcy in Coachella Valley: When You Should File

Knowing when you should file a bankruptcy case isn’t always easy. No two bankruptcy cases are identical and there are a variety of reasons and causes for filing a case. The greatest benefit of bankruptcy is the ability to discharge debt and to obtain a “fresh start” financially. An experienced lawyer like Robert L. Firth, a lawyer specializing in bankruptcy in the Coachella Valley, can review your individual circumstances and help you decide if bankruptcy is the best option for you.

While this list is not exclusive, below are some of the common circumstances that warrant a bankruptcy filing:

• You have lawsuits filed against you

• Your mortgage lender has started foreclosure proceedings against you

• Your wages or your bank account has been garnished

• You have high medical bills not covered by insurance

• You have had assets seized

• You are more than 30 days behind on your bill payments

• Collection agencies are contacting you

• Most of your debts are unsecured debts

• Your total debt, excluding your car or house loan, is more than you could pay, even over five or more years

• You owe income taxes that you are currently unable to pay

• You have few assets

• You have little or no savings

There are too many different reasons for filing for bankruptcy in to list them all. The above list is simply to give you an idea of what type of problems bankruptcy may be able to help solve. It is important that if you are considering filing a case, you should discuss your individual circumstances with an experienced bankruptcy attorney.