Chapter 7 Individual Client Bankruptcy
Area of Law: Bankruptcy
State Filed: California
Settlement: Settlement Plan
A client came to us, in his late 50s, because he was fed up with the constant harassment from his creditors. Day and night, the creditors would call him. At home. At work. They even got numbers for some of his neighbors. It was too much to bear. He wanted to know his options under debt settlement to get onto a structured settlement plan. As we dug into the numbers and laid out different options, he quickly realized that bankruptcy would be a far better option. Compared to debt settlement, bankruptcy provided finality, and it was far less costly than debt settlement. We went forward with the Chapter 7 bankruptcy. Within a few days, the calls stopped. Completely. He felt like he could breathe again, without the constant stress caused by the repeated phone calls. He had never felt so relieved. He had hesitated about the idea of bankruptcy, but once he filed it, he was very glad that he did.