Bankruptcy Attorney San Diego

REASONS WHY PEOPLE FILING BANKRUPTCY CASES www.blclawcenter.com

www.blclawcenter.com CONTENTS 01 BANKRUPTCY 02 REASONS OF BANKRUPTCY CASES 03 THE BOTTOM LINE

BANKRUPTCY The economy of the country is never stable, and there is no chance that it can ever come to a permanent position. The quantity of people filing for Chapter 7 and chapter 13 bankruptcy has risen drastically. www.blclawcenter.com

TOP REASONS Medical Expenses Pay Cuts Loss Of Employment Credit Cards Over-spending Emergencies Student Loans Foreclosure Divorce www.blclawcenter.com

MEDICAL EXPENSES Medical expenses add up quickly, and many patients often find that they cannot pay them. Medical expenses are among the top reasons for filing bankruptcy. Interestingly, not all of those who filed for chapter 7 and 13 bankruptcy, citing medical expenses, were those without insurance. www.blclawcenter.com

PAY CUTS If a company is not growing, it often leads to cutting costs, sometimes including employee pay cuts. If you can't find other ways to make up for the lost income, your only option may be to file a bankruptcy case. www.blclawcenter.com

LOSS OF EMPLOYMENT When you lose your employment, your savings quickly vanishes. On top of paying for the essentials you already need, losing your job also incurs extra expenses. And with the way that the job-market has been recent, there is no other way to know where and when you can get a new job. www.blclawcenter.com

CREDIT CARDS Contrary to people's belief, not all credit card debt is due to your money's lack of responsibility. If you are experiencing hardships and can't afford to use your bank account funds to pay for what you need, you turn to your next option, the credit card. Accumulating debt, along with painfully high-interest rates, can quickly force you to a bankruptcy lawyer. www.blclawcenter.com

OVERSPENDING And sometimes disable debt can be incurred as a result of over- spending. Whether it is a result of inflation and bad budgeting skills or simply because you abandon to pay attention to what money you spend, it can still send you down unbelievably fast. www.blclawcenter.com

EMERGENCIES While it is recommended to have a few months' worths of salary saved up in an emergency, not everyone can afford to save. Emergencies can happen at any time. Appliances in your home could go out, and your car could break down; structural damage may be inflicted upon your house. Anything the reason, even if you have an emergency fund stashed away, these emergencies can have financial crises. www.blclawcenter.com

STUDENT LOANS You spent many years getting a college education with the belief that you would be able to find a good-paying job right after graduation degree. Unfortunately, the job places are saturated, and everyone with a graduation degree now has to pay back those excessive student loans. www.blclawcenter.com

FORECLOSURE An incapability to pay the mortgage often results in fore- closure. Rather than losing a home, potentially putting themselves and their families on the street, peoples turn bankrupt. www.blclawcenter.com

DIVORCE Divorce is an expensive method, even before you factor in the cost of divorce lawyers. Not only do emotions run high, one of you may experience a significant financial crisis. And if you have a joint account with your ex-partner, you may be liable for taking on a portion of your ex-partner's debt. You straddled with your debts, as well as theirs; filing chapter 7 and chapter 13 bankruptcy may be the only way to settle them. www.blclawcenter.com

CONCLUSION The time is tough, but you have to be strong in all your bad times. The bankruptcy is the wrong phase of life, but you would even get it through with the help of the right choice of BLC law firm. www.blclawcenter.com

Contact Us BLC Law Center is a San Diego Bankruptcy Law firm. Our firm’s sole mission is to help Southern California Residents who are facing tough financial situations. If you are facing foreclosure or suffering from overwhelming debt, we can help! Address : 380 S Melrose Dr #300 Vista, CA 92081 United States Phone: (619) 894-8831 Fax: 1-866-444-7026 Blclawcenter.com