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What is a bankruptcy?

• Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as "liquidations" or "reorganizations."

Who is a bankruptcy for?

If several of the following apply in your situation, you might consider bankruptcy: 

• Your wages have been garnished or your bank account has been attached
• Most of your debts are unsecured debts like credit card bills, hospital or doctor bills, etc.
• Your total debt, not including your car or house loan, is more than you could pay, even over five or more years
• Collection agencies are calling you at home and/or at work
• Your payments are more than 30 days behind on more than one bill
• There are lawsuits pending against you
• You have high medical bills not covered by insurance
• You have few assets
• You have little or no savings
• You have had property repossessed (such as a vehicle)

What are the consequences of bankruptcy?

• Negative credit history
• Potential loss of secured assets

At UpsideDownCA.com we always recommend that homeowners consider all of their options. That is why we created UpsideDownCA.com as a resource to present the most current and objective collective wisdom on navigating real estate debt.  Only after considering your complete financial picture and weighing all of your options could we begin to provide adequate advice for your situation.  Please contact us for a free consultation.  There are no fees until we decide if we can help you with your particular solution.

Bankruptcy services provided by The Law Office of Ted A. Greene, Inc. The Law Office understands the urgency of getting the bankruptcy process started and has available to you a payment plan "call to find out".

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