Many of life’s unexpected events such as the loss of a job, tragic accident, sudden illness, or death of a spouse may cause unforeseen, negative changes, especially in an individual’s pool of assets and income. Such events may have the effect of eliminating adequate funds to make monthly payments on home loans, credit cards, utility bills, and other financial obligations. When such events cause serious financial difficulties, bankruptcy may help.

Everyone has debt. Hopefully, it is affordable based on an individual’s monthly income. In a perfect world, everyone has a little left over after paying their monthly debts and obligations. However, the present and future loss of income due to unemployment or excessive medical bills may create an untenable financial situation almost overnight. One day life is routine and predictable, then the next, challenging and unknown, all because of unforeseen and unexpected circumstances.

In the case of sudden unemployment, finding a new job may minimize any current financial stress while even eliminating future financial worries. However, typically this window is open only for a limited time because, at some point, unpaid bills, interest, and late charges mount and make it nearly impossible to catch up and become current.

The time may come when bankruptcy may be the best solution to such problems. Bankruptcy will provide a fresh start and allow a return to financial stability. A Chapter 7 bankruptcy allows debtors to discharge most, if not all, debt, while losing or liquidating little, if any, personal and real property.

Whether you should file bankruptcy is an important, if not crucial, analysis, Alberto Montefalcon and his experience may be invaluable to anyone who needs to make this determination. Schedule a consultation at any of our three conveniently located offices. Contact the experienced Sacramento metropolitan area/Northern California attorneys at the Montefalcon Law Offices. Contact us online or schedule a free consultation at any of our three conveniently located offices. Telephone our downtown Sacramento office at (916) 444 0440, our south Sacramento office at (916) 399-9944, or our Concord office at (925) 222-5929.