When You Shouldn’t File For Bankruptcy

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When You Shouldn’t File For Bankruptcy

Law Offices of Louis Esbin | Santa Clarita Lawyer

When someone or a whole company is struggling to make payments, filing for bankruptcy might seem like the safest and best way out, but what a lot of people aren’t fully aware is all of the negatives that occur when filing for bankruptcy, that is where the Law Offices of Louis Esbin step in. It’s very important for anyone in Santa Clarita to be extremely careful when deciding if they want to go through this long and dreadful process.

There are lots of steps that people have to take when going through this process and it can lead to one of the most stressful times in a person’s life. This is why everyone in Santa Clarita should do their research before filing for bankruptcy.

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One of the reasons why you shouldn’t file for bankruptcy is that it won’t help your credit at all. When filing for bankruptcy, all accounts that are involved will appear on your credit report for the next 7 years. This will lead to road creditors seeing you at high risk which leads to having a tough time at getting new lines of credit or loans.

Another major key if you choose not to file for bankruptcy is that those collection agencies are unlikely to sue you. They would most likely not invest the time, resources, and money just to go after one account. They never originally sustained the loss, they just paid a small portion of what was owed. They will rarely ever sue anyone in Santa Clarita. However, if someone were to get sued, they have the ability to contact them and work out an agreement to avoid any lawsuits.

There are surprisingly, a pretty large amount of benefits for anyone that chooses to not go through with bankruptcy. If you need more help with deciding whether or not to go through with filing for bankruptcy contact Ebsin Law. Louis Esbin is a professional bankruptcy attorney that will help anyone out, in Santa Clarita, with deciding to file for bankruptcy. He can provide helpful information and important details if filing for bankruptcy is right for you or not. He can show you the pros and cons to filing for bankruptcy to help anyone get through this rough time in life.

Louis J. Esbin founded his law firm and has been practicing in Santa Clarita, California and Canyon Country, Valencia, Saugus, Stevenson Ranch, Newhall and Castaic neighborhoods since 1993, where he provides Bankruptcy Law, Corporate Formation Law, Transactional Law, Merger & Acquisition Law, and Commercial Law services to clients throughout California and other states.


 

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