Based on statistics released by the U.S. Courts’ Administrative Office, there were 544,461 bankruptcy filings in 2020. Bankruptcy is a very complex area of law. The federal government also amended the bankruptcy law in 2005 to prevent bankruptcy abuse, making it more complicated for people to file bankruptcy on their own. Because of the extensive and complicated bankruptcy laws, a seemingly simple mistake could lead to the dismissal of your case.
When this happens, the court may impose a 180-day penalty before you can file again. This is why it’s crucial that you at least contact an experienced California bankruptcy attorney to learn more about your bankruptcy case. Otherwise, you risk ending up accruing more debt and without the means to get them discharged legally.
The following are the most common signs that bankruptcy is looming, so you should contact a bankruptcy attorney for your options:
One of the biggest advantages of working with a bankruptcy lawyer is that they are adept at recognizing any potential issues that could arise with your case, so they can be plan accordingly. They can also help you determine if you should file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. Your lawyer will consider your needs and wants to come up with the best way to help you reach your goals. On the other hand, if after reviewing your case, your lawyer finds that bankruptcy might not be the best option for you, your lawyer can recommend appropriate and legal alternatives to bankruptcy.
It is also vital to note that filing paperwork with inaccurate information could result in serious consequences. All the information you submit to the bankruptcy court must be accurate and complete and must be signed under penalty of perjury. You will also need to verify the accuracy of the information under oath. Your bankruptcy lawyer knows all the filing procedures and local rules and can ensure the accuracy of your information and timely filings of necessary paperwork.
Do you have questions about bankruptcy? Call Miranda, Magden & Miranda, LLP, or contact us online to learn more about bankruptcy laws in California. Keep in mind that you are not in any way obligated to work with us when you contact us. If you do decide to work with our California bankruptcy attorney, we can help protect your assets against creditors and debt collectors and find ways to free you from your financial burdens.
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