Stockton, California is the home of the annual Asparagus Festival, singer Chris Isaak, and possibly the largest municipal bankruptcy in U.S. history.  The financial issues that Stockton faces may not be much different from the challenges that you face: rising costs, declining income, and bad luck.

A bankruptcy filing does not necessarily mean that Stockton’s leaders are corrupt and/or incompetent.  Likewise, a personal bankruptcy does not make you a bad person or a poor financial planner.

Many times a bankruptcy filing can be a very shrewd financial decision.  Such a move demonstrates that you are not running from your debt problems, but you are facing them.  Although that stack of bills will not just go away, the professionals at Henley and Henley can give you realistic options for managing your debt.

Chapter 7 or Chapter 13?

If you have acquired more unsecured debt than you can pay, possibly through no fault of your own, Chapter 7 may be a good option.  Chapter 7 can eliminate most or all of your unsecured debts and give you a fresh start within a few months.  If you are struggling with past-due amounts on your secured debts, Chapter 13 may offer a way to consolidate those debts and get them paid off faster.

Don’t stick your head in the sand.  Call today for your free consultation.