It need not take much to upset the financial apple cart of your life; a major illness or serious accident with non-insured medical bills; retrenchment from your job through no fault of your own; even a mortgage or bank loan foreclosure – not because you have defaulted on your payments; but, because they have got themselves into a mess. There are even a host of instances where hard working people who have religiously saved for many years have seen their savings or pension funds literally disappear in front of their eyes.
Anyone unable to pay off their debts in a timescale acceptable to their creditors will be facing bankruptcy; but, if that sorry situation developed under circumstances similar to the above, they could be viewed as victims deserving of assistance rather than punishment. Of course, the degenerate gambler; the foolish speculator; or the spendthrift who must have the latest “things” and simply charges them to credit regardless of their ability to pay back; should expect neither sympathy nor someone to “bail them out”.
Nevertheless, they too can find themselves in sufficient debt to warrant a consultation with a bankruptcy attorney in San Bernardino; although, such people, might be more likely to fall for those TV adverts from companies that offer to “solve your debt problems” by way of debt settlement, negotiation or consolidation. These solutions have been known to succeed but there are many dubious schemes that can make the debtor’s situation even worse.
Who To Turn To When The Going Goes From Bad To Impossible?
Bankruptcy laws are, at heart, about fairness; if a debtor is thrown into jail or simply has all his assets stripped away; does that guarantee full repayment to the creditors? Bankruptcy aims to stop the debtor getting further into debt and allow a breathing space in which the debtor can make serious attempts to repay over a period of time – something that would not be possible if the debtor was languishing in jail or homeless and unemployed on the streets.
Like all laws that attempt to cover all possible scenarios, the bankruptcy laws are complex and made more so by differences between federal and state laws. A layman in San Bernardino, who is already driven to distraction by financial difficulties, is unlikely to be able to successfully navigate his way into bankruptcy and out of debt. In such cases, it must be better to seek advice and weigh all the options available; this advice can be sought from a Bankruptcy Attorney In San Bernardino.
