Legal Question in Bankruptcy in California

Re: Bankruptcy

Thank you for your posting. The main reason for filing bankruptcy is to discharge unsecured debt, such as credit cards. Bankruptcy works somewhat like magic from a financial planning view, improving your net worth by discharging debt while keeping your exempt assets. It also improves your debt to income ratio, by removing debt while your income stays the same.

The secondary reason is to prevent creditors from taking action, such as garnishing wages, suing or foreclosing, or taking assets such as bank accounts.

I have much more on the effects of bankruptcy on creditors and the reasons for filing bankruptcy on my website, www.expertlawfirm.com/areas. I am happy to answer any additional questions you have, so please feel free to email me, or call my office toll free at 1-877-568-2977 for an information package, or to ask specifics about your situation. Thanks again for your question, and best of luck to you -- whatever you decide. Sincerely, Robert Miller, Attorney at Law