Bankruptcy San Diego

San Diego is a fine place to live, but these days a lot of people here are going through hard financial times. San Diegans from La Mesa to La Jolla are up to their ears in debt. Nobody wants to go broke, but sometimes it happens, despite the best of intentions. If you feel like you are drowning in debt, you may want to consider bankruptcy in San Diego. If you do bankruptcy the right way, you may be able to get a fresh start in your financial life. It's not the perfect solution, but it may be in your best interest.

Bankruptcy can be a emotional and embarrassing process. If you are in deep financial trouble, Chapter 7 or Chapter 13 bankruptcy may be your best option. While you can, theoretically, file for either type of bankruptcy on your own, doing so is not a very wise idea. A skilled and experienced team of bankruptcy attorneys can guide you step-by-step through the entire process. If you are struggling with massive debt and are considering bankruptcy in San Diego or anywhere in southern California, you should contact Stockton Law Offices without delay.

There are two basic types of individual bankruptcy, and each has its benefits and disadvantages. Chapter 7 is often referred to as "liquidation", while Chapter 13 is often called "reorganization". When you file for Chapter 7 bankruptcy in San Diego or anywhere else, most or all of your debt is eliminated. You may emerge from Chapter 7 virtually debt-free, except for certain remaining debts such as alimony, child support, mortgage, student loans and recent tax debts. If you choose to file for Chapter 7 bankruptcy in San Diego or anywhere in southern California, you will have to meet certain income and debt criteria. When you speak with someone at Stockton Law Offices, they will be able to explain the details to you. Once your team of bankruptcy attorneys have your unique information in front of them, they will advise you as to which type of bankruptcy is right for you.

A typical Chapter 7 case takes approximately six months from initial filing to final discharge. While it is indeed possible to lose assets during a Chapter 7 case, most filers do not. Bankruptcy in San Diego or elsewhere in southern California allows you to keep most of your necessities, including your home, work tools and a vehicle within a certain equity range. If you have few assets to begin with, chances are good that you will be able to retain most if not all of them while eliminating most of your debt. When you are ready to know even more about bankruptcy in San Diego, please call Stockton Law at 866.682.8776. We look forward to speaking with you.