Bankruptcy Overview

In this short video, we provide a brief introduction to bankruptcy.  As always, one should seek the advice of a competent San Diego bankruptcy attorney to discuss a specific situation, and how it fits in with the framework of relief made available by the law.  It's almost never the case advice one receives from co-workers, friends, or family members is useful, as they probably don't know or understand a complete set of circumstances, and most likely don't have an adequate grasp of the law. Allow our team at Debt Relief Legal Clinic to help you.

Transcript of the Video

Good morning, Dan Wiedecker here, staff attorney at Debt Relief Legal Clinic. 

I'm going to do a short video this morning on consumer bankruptcy or individual bankruptcy. 

Bankruptcy is a program provided by law, as a right of being here in the United States, whether you are legal or illegal. You have the right to file bankruptcy. 

If you are and incur debt in any form or fashion, have an accident, credit card/vehicle deficiency, or anything like that, whether you are a citizen, legal resident, legally you do have a right to the bankruptcy system.

Bankruptcy is a law provided by the federal government and has been in existence for a very long time since the formation of the country. 

There is a stigma that applies to bankruptcy, unnecessarily. You will see it sometimes on the news, in written form, in various places, maybe a newspaper or periodical or something like that. And most of those sources for what you hear are based or funded by a party that wants you to hear what they want you to hear. 

So, to figure out if bankruptcy is really appropriate or right for you, the smartest thing to do is now you can search on the internet fairly easily, and you can probably find a reputable bankruptcy attorney in your area through Google. 

You can also search a national database available through the National Association of Consumer Bankruptcy Attorneys,, just plug in your zip code and your distant search, and you should be able to find somebody who will be very competent to help you out. 

The bankruptcy program is dependent on income and assets, and nobody loses anything and especially if you go to a reputable attorney, that attorney is going to set your case up and work with you to make sure that you don't lose anything. And that everything that you understand or understood is reconciled with what is and what the law provides. 

It's a beautiful program, we've helped hundreds of thousands of people in the last 40 years I've been with the Debt Relief Legal Clinic, since 2008. And we are well-versed in Chapter 7 and Chapter 13 style bankruptcy cases which are for individuals, as well we can advise in other areas and provide competent referrals. 

But the point of this video is to remove the stigma of what maybe is given to bankruptcy, improper understanding.

It doesn't destroy your credit, it restores your credit.

It doesn't ruin anything. In fact, I will say from experience that probably 50 to 90% of clients that we help with Chapter 7 typically end up buying a home within 2 years. 

So there is no legal restriction for incurring debt or buying things. 

The misnomer that you're gonna lose property is just incorrect. 

So please reach out and seek advice from a competent attorney. Most consultations are free and it's well worth the time. As I often say, it's worth the price of admission. If it's free, what more do you have to lose?