Law Office of Judith A. Descalso Law Office of Judith A. Descalso

Considering all the options when facing financial challenges

For California residents facing severe financial problems, filing for bankruptcy is certainly an option. A personal bankruptcy filing can discharge debt and leave the filer with fewer monthly bills to worry about all the time. From there, the filer will slowly be able to see that moving forward with financial issues is likely to be much easier.

However, any comprehensive overview of a person's financial situation needs to recognize that there may be other options besides a bankruptcy filing. For instance, if an Escondido resident's primary problem is their monthly mortgage payment, there may be a chance to get the mortgage agreement modified, and thereby reduce the monthly payment to a more manageable amount. Or, if credit card debt is the main concern, there may be the option to get the debts consolidated, which can allow the debtor to make one payment each month over a set amount of time.

Looking at all of the potential options is an important part of solving any problem, but at our firm we know that financial problems can make life particularly rough. Our clients come to us with serious problems and we take the time to make sure that everyone we help knows that we will review every available option so that the client can make the best decision.

When it is all said and done, Chapter 7 bankruptcy is oftentimes simply the best and quickest option to address burdensome debts and harassing creditors. However, at our firm we recognize that this is a big step for anyone. We try to help all of our clients understand that bankruptcy is an important consumer tool, and there is no shame in taking the first step toward getting yourself out of a bad financial situation. For more on how our firm looks at all of the options, please visit the bankruptcy alternatives page of our website.

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