If you have considered filing bankruptcy then you know that it can be an overwhelming situation. Many people will tell you that filing bankruptcy is bad and that it will be the end to your credit. Filing bankruptcy is actually a way to help people regain the financial freedom they once had. Bad things happen to all of use and sometimes bankruptcy is the best thing to do. If you are receiving collection calls or facing wage garnishment a bankruptcy filing will be able to help get these stopped. Bankruptcy can also help stop home foreclosures and automobile repossessions.
If you are unsure if bankruptcy is right for you then you may want to contact a Bankruptcy Attorney San Bernardino. An attorney will be able to show you what options you have so you can see if filing bankruptcy is right for you. An attorney will be able to meet with you quickly for an initial consultation.
Filing Chapter 7 bankruptcy San Bernardino is one option you have. You may have heard it called liquidation bankruptcy. Most people who decide to file bankruptcy end up filing chapter 7. This will allow you to get rid of most of the unsecured debts that you have. Unsecured debts are things such as medical bills and credit cards. Some personal loans are also considered to be unsecured debt. With chapter 7 you can usually keep some of your personal property. Some items that are often excluded are you home and automobile. An attorney will be able to show you all of the items you can exclude in your bankruptcy.
Filing for bankruptcy will not the end to your credit life. While most bankruptcies do stay on your credit for several years, there are steps that you can take to start rebuilding your credit right after your bankruptcy is made final. Many banks now offer checking accounts for customers who may have not had perfect credit history. Getting a secured credit card is also another option. With these cards you will have to pay a deposit upfront. The good thing about these cards is that they will report all of your transactions to credit bureaus. Many people who file bankruptcy go on to purchase homes and automobiles.