Thomas F. Miles, Attorney and Counselor at Law
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Filing for Chapter 7 bankruptcy

The word bankruptcy alone has a way of making people feel apprehensive and uneasy. Nobody ever thinks that they will one day find themselves in the position of filing for bankruptcy. Unfortunately, for many Americans, hard financial times leave them with no other choice than to file for what is known as Chapter 7 bankruptcy.

One of the most difficult aspects of filing for bankruptcy is recognizing when it is time to do it. As bills and debts continue to pile up, interest rates accrue, and debt collectors become more aggressive, it becomes more and more evident that you may have sunken into a financial hole. Many people ignore the issue and wait too long to file.

While bankruptcy is not the best choice for everyone, it does offer a set of benefits for those that do decide to file:

  • You may be able to keep your property.
  • Can be completed in as little as three months.
  • You will still be able to get loans and credit cards.
  • Many of your debts, such as credit card debt, will be cleared and you will no longer owe anything to those companies.

While you may be feeling scared or tense about what a bankruptcy will mean for you and your family, it is important to remain calm. Filing for a bankruptcy can mean a fresh start and doesn't have to be the end of the world. Rather than being your financial doom, it could end up being your financial savior.

Filing for bankruptcy can be a long and complex process with a lot of moving parts. You don't want to do something incorrectly and risk committing an error. Therefore, it may be a good idea to hire a bankruptcy attorney to guide you through the difficult process. 

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Thomas F. Miles, Attorney and Counselor at Law
152 West Park Ave
El Cajon, CA 92020

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