In California, when a person finds that they are unable to repay the debts that they owe, they may consider filing for a personal bankruptcy. This filing can be a good choice because of the protections offered by the bankruptcy exemption rules that apply to each case. These rules allow for some people to keep the property that they own when they file.
When people in California are facing financial difficulties, it can feel as though they are the only ones with such problems. However, they may be surprised to know that there will be as many as 980,000 filings of a personal bankruptcy by people across the nation this year. That number is slightly lower than were filed last year.
When a person in California finds that they are unable to repay the debts that they owe, they often seek a solution to their financial problems. For many, the solution is the filing of a personal bankruptcy. Such an action can help people to restart financial loves that have been put on hold as a result of unmanageable debts.
There are many reasons that people in California file for a personal bankruptcy. These include lost jobs, divorce and falling home values. The personal bankruptcy can help alleviate much of the stress caused by overwhelming debts due to it s ability to offer a discharge in many cases.
California readers may be interested to learn about a recent case involving a large bank. The case involves many people, likely including some in our state, who sought a personal bankruptcy. In each of those matters, the bank, Citibank, sought to file a creditor claim in an effort to obtain repayment for some of the debts that it was owed.