Fires, flood, tornadoes, and hurricanes: some of Mother Nature’s most impressive acts can wreak havoc on your home, health, and entire community. When damage is really bad after a natural disaster, insurance may not cover all the needed costs. A successful bankruptcy filing ensures you don’t end up drowning in debt and helps you regain financial footing.

How Filing for Bankruptcy Helps

A natural disaster can hurt you financially in various ways. You’ll need to pay for property damage and you may have medical expenses to deal with. You may also face a loss of income if the community was also impacted by the event. 

Potential insurance payments may not be enough to cover these expenses and they take time to arrive. The same is true for any government assistance programs that could help; you won’t see any money immediately. 

Personal bankruptcy lets you protect remaining assets, such as the home, and eliminates certain types of debt. As soon as you file, the courts issue an automatic stay, preventing creditors from taking any collection actions, including foreclosure sales. 

Depending on the type of bankruptcy you file, you can discharge various unsecured debts, like credit cards and medical bills. Note that some types of debt, like back child support or alimony payments, cannot be discharged.

What a Bankruptcy Attorney Will Do

A bankruptcy attorney can examine the case and determine what type of filing best suits your needs. For instance, to qualify for Chapter 7, your annual earnings can’t exceed a certain amount. 

The lawyer will then gather the needed documentation and file the paperwork on your behalf. You will be required to attend a meeting with creditors, giving them the chance to dispute your claim. The attorney can represent you here, as well.

 
If you’ve been affected by a natural disaster in California, such as the recent wildfires, trust Mark Briden Law to get you back on track financially. This lawyer focuses exclusively on bankruptcy law. He believes that every person deserves knowledgeable, reasonably priced legal representation. If your current financial means are limited, he will work with you to establish a payment plan you can afford. He also offers free consultations, which you can do in his office or via telephone. Use this online form or call (530) 222-1664 to request an appointment.