Combining the Insight You Require With The Agility You Desire

Exceptional Bankruptcy Legal Representation

Bankruptcy can be one of the hardest things any person or business can encounter. Many individuals believe bankruptcy is a personal failure and are hesitant to file for bankruptcy because they see it as a defeat. We at Anderson Hayes, P.C., want you to know otherwise.

The reality is that the overwhelming majority of people who file for bankruptcy are forced to file for bankruptcy protection because something unexpected in their life occurs that has a devastating financial effect.

What Leads To Bankruptcy?

Even people who play it safe, are careful with their money, and make good financial decisions can still fall into extreme financial hardship. Across the country, common financial difficulties that may cause people to consider bankruptcy include:

  • Medical bills
  • Job loss
  • Unexpected large expenses
  • Student loans
  • Divorce
  • Credit card debt

While this is certainly not an exhaustive list, any of these expenses or a combination of any of them is enough to bring down even the most frugal and financially responsible people in our society.

What You Should Know About Bankruptcy

A common misconception among people seeking bankruptcy protection is that they will never be able to obtain a loan, apply for financing for a car or another high-ticket item, or receive a credit card again. This is simply untrue. People who file for bankruptcy protection are often flooded with offers from lenders and financial institutions after filing for bankruptcy protection. This is because the bankruptcy code only allows for an individual to file for bankruptcy protection once per several years. Lenders feel secure lending because there is no danger of them filing again.

How Chapter 7 Bankruptcy Works

This is the most common form of bankruptcy protection for the individual consumer. Under a Chapter 7 bankruptcy petition, the debtor will need to sell their assets, minus a few exemptions. Some of these exemptions include:

  • Vehicle exemption,
  • Jewelry and art,
  • Your retirement and pension,
  • Homestead exemption (your primary home)

Resolve Your Financial Hardships

At Anderson Hayes, P.C., our attorneys not only understand and sympathize with the difficulty you have encountered in weighing whether to file for bankruptcy protection but also are prepared to assist you with taking the necessary steps to start the recovery process toward financial health again. If you believe bankruptcy protection is in your best interests or are curious to discuss whether bankruptcy is an option for you, please call 858-771-7527 or email us.