Thomas F. Miles, Attorney and Counselor at Law
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California personal bankruptcy offers debtor protections

The recent recession hit many in California hard, as readers may know well. Job losses, mounting debt and falling home process are just a few of the financial stressors that have struck many in our state. These have led some to decide to file for a personal bankruptcy in an effort to right their financial ship.

For some in California, the need to file for a personal bankruptcy comes from efforts by their mortgage holders to foreclose on their homes. In our state and elsewhere across the nation, a filing for bankruptcy creates a stay on any foreclosure actions while proceedings are pending. This stay can give some a chance to renegotiate home loans or to seek other alternatives, particularly when seeking approval for a reorganization of debt.

Bedsides fighting a foreclosure action, there are additional reasons why filing a personal bankruptcy may be a responsible decision. These can include stopping creditor calls and the discharge of consumer debts that comes with a bankruptcy discharge. Each can be a benefit to an individual struggling with high debt and low income.

Filing for a personal bankruptcy in California is not necessarily an easy choice. However, many find that the protections offered are just what they need to finally conquer their financial problems. Making the decision can allow a person to plan a new financial life free of overwhelming debt and the stress that comes along with it. When this is the case, the person who emerges from a personal bankruptcy may find that they can be successful with their finances going forward and may even be able to save their home from foreclosure in the process.

Source:, "Foreclosure Help: How To Stop a Foreclosure," Dec. 19, 2012

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Thomas F. Miles, Attorney and Counselor at Law
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