Monday, October 3, 2011

California Residents and Debt

An article describes how much debt, on average, individuals face in the United States.  Not surprising to many, California leads the way with a whopping $336,169 average debt load.  This figure does not include debts owed on educational loans (which are generally not dischargeable in bankruptcy).  The one plus for Californians is that we are paying either paying off our debt, or eliminating it in some other manner.  The article fails to state the manner of eliminating debt.

Many people come into my offices or call me on the phone wanting to discuss bankruptcy for a number of different reasons.  Some people have emergencies such as a bank levy, a foreclosure, or a wage garnishment.  Other people want to use my service because life has simply become unmanageable.  The phone calls become incessant and the stressful nights simply have to end.

Bankruptcy can help with many of these problems. For example, if you have one of the emergency situations, the filing of bankruptcy petition will prevent a creditor from removing money from your account, even if they obtain authority to do so.  Similarly, we can stop a foreclosure up to the last minute before the sale (but not after the sale).  Lastly, we can stop a wage garnishment so that you can keep your hard earned money.

Call the San Jose Bankruptcy Attorney at the Henshaw Law Office at (408) 533-1075.

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1 comment:

  1. Dat is echt een grote post en het artikel gegeven is echt heel erg nuttig en interessant. Gelieve blijven posten over het hoe doorstart na faillissement.

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