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Anaheim Bankruptcy Lawyer

If you are considering bankruptcy, there are a few things that you should consider before contacting an Anaheim Bankruptcy Lawyer. Before moving forward, you need to decide whether or not you are judgment proof. If you have very little assets and are very poorly paid, a judge may not be able to rule against you if your creditors took you to court. When people are in this situation, they are considered to be judgment proof, and they should simply stop paying their bills.

However, most people are not in that situation, and the chances are that if you have a home internet connection, you are probably not judgment proof. Even if you think you are judgment proof now, you should remember that debts last seven years before they go away. That means that your creditors can contact you several years down the line, and if you have a great new job by then, they would be able to garnish those wages if they took you to court.
 
To avoid that situation, you should speak to an Anaheim Bankruptcy Lawyer about your options. There are several different types of bankruptcy and the one that you should declare depends on your particular situation. Many people declare Chapter 7. Consumers can only do this sort of bankruptcy once every eight years. Basically, all of their assets will be sold, the money will be used to repay their debts, and they will be debt free. They do, of course, get to keep some assets like their clothing and possibly a vehicle.
 
For individuals who cannot sell all their assets, an Anaheim Bankruptcy Lawyer may suggest filing Chapter 13. In Chapter 13, the debtor gets to keep his or her assets. However, their debts are not completely erased. Rather, they get to set up a partial repayment plan with their creditors through the courts. The repayment plan will usually run on a three to five year schedule.

In addition to Chapters 7 and 13, there are also Chapters 12 and 11. Chapter 12 is reserved primarily for farmers, and Chapter 11 is primarily for businesses but is also used for individuals in some cases. You will need to speak with an Anaheim Bankruptcy Lawyer to see which chapter is right for you. You may see books that promise to show you how to declare your own bankruptcy. Although you may turn to these books for reference, they are not good for you. Honestly, if you have so few assets and debts that you can declare bankruptcy with a book then you probably should not even be declaring bankruptcy.

The decision to declare bankruptcy is a tough one to make. It will affect your credit, but it will also offer you solace from bill collectors and great peace of mind. However, once you decide to file for bankruptcy, the road may be a difficult one. That is why you need the dedicated assistance of an Anaheim Bankruptcy Lawyer. Contact the skilled team of attorneys at http://www.BankruptcyAttorney.com and they will help you through the process.