Bankruptcy: Detroit, Radio Shack and You

Posted on Sep 17, 2014 in San Diego Lawyer | Comments Off on Bankruptcy: Detroit, Radio Shack and You

monopoly-man-bankruptcy

 

Bankruptcy

For anyone considering filing bankruptcy, hearing the word itself can cause sheer panic. Rest assured that if the new “b” word sends you into shock, you are not alone. According to the US Courts website 1,072,807 individuals and 34,892 businesses filed for bankruptcy (BK) protection in 2013. If you think that the total of 1,107,699  filed in 2013 is a lot, just take a look at 2012, 2011 and 2010.

Total filed by Year

2013- 1,107,699

2012- 1,261,140

2011- 1,467,221

2010- 1, 596,355

With media buzz that Radio Shack, once everyone’s go-to shop for all things electronic, now on the brink of filing bankruptcy and frequent news from the City of ongoing Bankruptcy battles in court, its no wonder that “BANKRUPTCY” has become a big part of our American culture.

Many people have strong opinions about finances and how they should be handled. While most people would never want to file bankruptcy, a quick look at the numbers above shows that over a million people are left with no choice each year. The good news is that filing bankruptcy can protect you.

If you or someone you know is over run by creditors and behind on taxes bankruptcy may be a helpful option for them. Come set up a free meeting with Gary and his staff. They’ll help you look at all of your options and try to find a way to settle your debts without filing for bankruptcy. If bankruptcy ends up being the best option for you, Gary and his team are BK experts here to help you though the rough and tumble process.

For further information on tax and debt solutions- please see this page on our website.

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This article provides general information about California law. The laws are constantly changing and this article is not intended to provide legal advice about your specific situation. Seek competent legal counsel. Let me advise you about your particular situation.

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