Evaluating Personal Bankruptcy

Anyone who needs debt relief or a defense against foreclosure should discuss his or her situation with a qualified attorney. At Avraham & Robinson, LLP, we will provide objective information on the strengths and risks of bankruptcy compared to other alternatives, such as debt negotiation and debt consolidation.

For a free consultation focused on identifying the path most likely to help you cope productively with your financial problems, you can contact our San Diego, California, law firm today. If our assessment of your circumstances indicates you can overcome your debt problems without filing bankruptcy, that is what we will tell you.

Will Your Success Depend on Having Legal Protection from Creditors?

Many people whose problems primarily stem from overwhelming credit card bills or other unsecured debt heed the warning, "Don't declare bankruptcy," issued by debt consolidation companies. There are many such companies out there — and many reasons to question whether their services will ultimately help or harm your situation. Consider:

• You may get relief from creditor harassment, but putting your debts in a consolidation companies' hands will not protect your credit.
• Filing bankruptcy can reliably end or prevent judgments and wage garnishments, whereas debt consolidation offers no such legal protection.
• If you do not expect an increase in income or lump sum of money in the near future, it is important to evaluate whether it will be achievable to pay off even half your debt in a few years — while also paying significant fees to a consolidation company.

Loan Modifications

If your home mortgage or rising adjustable rate loan is the only burden leading you to bankruptcy, then you may need to evaluate whether submission of a loan modification application to your lender is a desirable option for you.