Ewaniszyk Law Firm Serving California’s Legal Needs Since 1986

Should you choose bankruptcy or avoid it?

Bankruptcy is often associated with starting over completely and being financially ruined. The reality is that you don't actually lose everything in a bankruptcy, and it's a tool designed to help you get out of financial trouble.

While a bankruptcy is not the right choice for everyone, there are some people who can benefit from it. For instance, those with a high number of personal debts that are unsecured, like credit-card debts, a bankruptcy can help eliminate them and make it easier to live month to month. In comparison, someone struggling with student loans and past-due tax balances won't likely find bankruptcy to be much of a help in the long term, since it won't eliminate student loan debts or IRS collections except for in very specific circumstances.

If you can avoid bankruptcy, you should. If you can reduce your expenses, lower interest rates on your credit cards, sell items to make payments or increase your income, those could all be better options than going through bankruptcy. You could try a credit-counseling plan or consolidate your debts. You could even talk to your attorney about options that might be open to you in your specific situation.

If you do choose to go through bankruptcy, you'll be able to discharge some of your debts following the bankruptcy in most cases. Once your debts are discharged, you'll no longer have any obligation to them. For most people, a Chapter 7 bankruptcy is the fastest route to eliminate debts from their lives, so they can move on and have a more stable situation.

No Comments

Leave a comment
Comment Information

Get A Free Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

14350 Civic Drive
Suite 100
Victorville, CA 92392

Phone: 760-780-1402
Fax: 760-241-7064
Victorville Law Office Map

Vanir Tower
290 North D Street, Suite 901
San Bernardino, CA 92491

Phone: 909-383-3708
Fax: 760-241-7064
Map & Directions

232 E. Grand Blvd
Suite 202
Corona, CA 92879

Phone: 951-808-0529
Fax: 760-241-7064
Map & Directions