Bankruptcy is one of those subjects that most people don't know much about because they don't want to know about and even tune out information or avoid the topic altogether. It is a shame because filing bankruptcy can help individuals to jettison debt or craft a viable plan to repay debts. In the Bay Area, a person can begin the process by working with an experienced San Jose bankruptcy attorney to file a petition with the bankruptcy court.
Life happens. Sometimes we get behind in paying a bill or two. No one is perfect 100 percent of the time. All too easily can we fall into the slippery slope of debt, which for many is becoming increasingly difficult to climb out of. When does a minor slip-up cross over into the realm of impossibilities? When is the right time, if ever, to file for bankruptcy? While missing a payment here and there is forgivable, sometimes due to unforeseen circumstances, catching up is just out of reach and bankruptcy is the only option.
Many business owners that have fallen behind on their financial obligations are concerned as to whether they will be able to file for bankruptcy and keep their business. The answer to this question depends on a variety of factors, including the way in which your business is organized and whether you are personally liable for business debts. The good news for business owners is that, in many instances, they will be able to file for some type of bankruptcy and keep operating their business. If you are considering business bankruptcy, it is important to understand what types of bankruptcy may be available to you.
Determining whether bankruptcy is the right decision for you depends on a number of factors. Over the past few years, there has been an increase in pro se bankruptcy filings. In fact, western states have the highest percentage of people filing for chapter 7 or 13 bankruptcy without the assistance of an attorney. Most consumers file for bankruptcy hoping that it will afford them a fresh start, but federal reforms to bankruptcy laws in 2005 have made consumer bankruptcy cases more complex. It is important to understand common mistakes that can be made along the way for individuals who have considered filing for bankruptcy without an attorney.