Protect Your Assets Through Bankruptcy

If you live in the Anaheim area and are struggling to pay your bills, you are definitely not alone. It can be extremely tough to have to deal with this kind of stress. You probably have creditors calling at all hours, your mailbox may be filled with late notices and the entire experience is likely pushing your stress level extremely high. Fortunately, for many people, they find that bankruptcy in Anaheim is the most appropriate choice for them. Before you get worried about bankruptcy in Anaheim and your assets, you will find that in many cases, you can keep them.

Bankruptcy Exists to Help, Not Harm

When it comes to bankruptcy, it should be seen as a useful and viable tool for people who have no other option when it comes to their debt. In most cases, the people who are choosing bankruptcy are those who have tried anything and everything else in their power to settle debt. Those who try other methods, like selling off everything they own, typically won’t find relief and must file bankruptcy anyway, so that often isn’t an option. Filing for bankruptcy can help you to effectively relive the strain of debt that you are feeling and you can usually keep your assets like your home and your car.

Use Exemptions and Keep Your Home and Car

Bankruptcy works by allowing you to take certain exemptions. When this is used, you will be allowed to exempt certain assets from liquidation. Though each state will have certain limits as to what can be used in this manner, the majority of people who choose to file bankruptcy are able to get the debt relief they are seeking and still keep things like their home and retirement account. You should know, however, that these exemptions are definitely not unlimited but in most cases, things like real estate can be protected.

In order to make sure that you are able to keep the assets that you have worked so hard for, it will be imperative that you find a good bankruptcy attorney. There are several attorneys in the Anaheim area that deal with bankruptcy, but not all of them will right for you to use. Before choosing one, make sure to thoroughly research their office. This way, you can make an educated choice when it comes to your bankruptcy. For more information, visit Winterbotham Parham Teeple PC.

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