California Bankruptcy Attorney - Bankruptcy News
Much of the latest news on bankruptcy has focused on the car manufacturers in Detroit. The troubles that Chrysler and GM are facing have put the idea of business bankruptcy in the spotlight, with worker and consumer concerns shown alongside the companies’ financial troubles. However, there are many other businesses, both large and small who are also facing bankruptcy, and whose debt restructuring is essential to keep communities viable and small towns financially fit.
Businesses are not the only ones who are seeking bankruptcy relief in larger numbers. As the unemployment rate rises, so have bankruptcy filings across the nation. Unfortunately, the new proposed bankruptcy provision that would have allowed bankruptcy judges to modify the terms of mortgage loans for troubled borrowers failed to pass the Senate. While bankruptcy judges can still strip second and third mortgages that are not secured with equity in the home, modifying a primary mortgage remains out of reach. The new measures in the current help for homeowners legislation may fall far short of helping many of those in the most desperate circumstances, which means that bankruptcy filings may continue to rise.
The cases in the news highlight why it is so important to have a reputable California bankruptcy attorney on your side. Bankruptcy laws can be complex, and understanding your rights and responsibilities when it comes to filing for bankruptcy protection is essential if you are going to take full benefit of California’s bankruptcy laws. Our firm has years of experience when it comes to representing clients of all kinds in California’s bankruptcy court.
Whether you are considering filing for personal bankruptcy protection, protection for your business, or whether you need help on a large scale such as municipality bankruptcy, our firm can help. Contact us today and arrange for your free, no-obligation case evaluation. Let the professionals at our California Bankruptcy Law Firm help you to attain the peace of mind and financial freedom that bankruptcy can provide.