When Bankruptcy Becomes Necessary
Many people find themselves facing overwhelming debt, with constant calls from creditors and no obvious way out. For some, a job loss sent them into a downward spiral, and they are now unable to pay their bills and meet their responsibilities.
For others, a recent divorce, business losses, disability or a costly medical emergency drained their resources, leaving them in a very vulnerable financial situation. There are a multitude of reasons why people end up being stuck in debt that they can’t pay back.
Bankruptcy can oftentimes be used as a tool to help you get back on your feet before things get out of control. Unfortunately, however, a lot of people are fed all kinds of misinformation about bankruptcy. They may have heard that bankruptcy will only make their situation worse and/or that if they do file bankruptcy, it will take them forever to rebuild their credit.
Sadly, some of this misinformation also comes from well-meaning friends who don’t know anything about what you are going through. So, what often happens is that people who need help so badly end up doing nothing for fear of making a mistake.
The important thing to remember is that no one solution fits every situation. Your financial situation should be carefully evaluated by an experienced and knowledgeable attorney who can help you understand legal options that perhaps you didn’t even know existed. By doing this, you can be more pro-active in finding a solution instead of being reactive and just waiting for things to happen. Debt problems often do not go away on their own, unless you take action.
As a bankruptcy attorney, I always see people who have been stuck in their financial suffering for years because of their inaction- when they could have acted much sooner before draining all their financial resources.
Remember that there is no shame in filing bankruptcy if that is the only solution you have left after trying to do everything on your own with no success. That is what the federal bankruptcy laws are for- to help people who can no longer help themselves. Ray J. Bulaon has been a debt relief attorney for more than 20 years and has helped more than 6,000 clients get out of debt.
For more information, call his Valencia office at 661-775-4880. Web: www.santaclaritabankruptcylawfirm.com
ADVERTISE WITH US
“Don’t separate yourself from the needy. Always try to be as close as you can and try to help people because that’s going to make your life more valuable.” - Yusuf / Cat Stevens It’s great to see some normalcy around town, it appears that we have now entered...
These last few months have been a roller coaster of emotions. We plunged into a pandemic the likes of which have not been seen for a century and endured weeks upon weeks of restrictions and uncertainty. Then just as the restrictions began to lift, the murder of...
It seems like many things in our lives have been flipped upside down in the past few months. However, work continues, as planned, on the two major projects within our Santa Clarita 2020 Strategic Plan. Throughout the Safer at Home order, construction projects...
ABOUT THE MAGAZINE
Santa Clarita Magazine has set a high standard for excellence in advertising for over 29 years. A family owned and operated business, Santa Clarita Magazine has grown with the Santa Clarita Valley since 1990 and become the #1 place to advertise locally.