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Have you lost your unemployment benefits? If so, loss of such benefits not only affects you financially, but it also affects your health. It’s time fix your health and finances.
11 September 2013

Approximately 2 million persons have lost unemployment benefits starting January 1, 2014 due to the end of the federal extended benefits programs. This has taken a dramatic toll on citizens of La Habra. The loss income leads to an increase in debt for such persons. The increase in debt then begins impacting a person’s physical health. It’s time fix your health and finances.

Typically, good health, involves less stress, more free time, less anxiety, and permits one to continue to focus on maintain such good health. However, factors that impact health have always been determined to mainly stem from financial stressor, such as overwhelming debt. Thus, the greater the debt, the more mental health and physical risks one may encounter. This is compounded greatly when one suffers a loss of income in addition to increasing debt.

HOWEVER, there is a one positive benefit most do not see by a dramatic loss of income- filing for Chapter 7 Bankruptcy.

As an experienced bankruptcy attorney serving the city of La Habra this is the time to file for bankruptcy (Proudly serving: La Habra and surround cities). There are many benefits that are received when filing. However, before filing, one must qualify in order to file. Qualifications are outlined below.

  1. Common debts that are discharged in a Chapter 7 Bankruptcy are:
    • utility bills (past due amounts only)
    • collection agency accounts, credit cards, revolving accounts, late/overdue fees
    • repossession and foreclosure deficiency balances
    • auto accident claims (except those involving DUI)
    • medical bills and collections of such,
    • personal loans from others
    • insufficient funds/dishonored checks
    • student loans (only few types though)
    • business debts
    • money owed under lease agreements (i.e. past due rent)
    • civil court judgments (unless based on fraud)
    • tax penalties and unpaid taxes (usually over 3 years old)
  3. Qualifying: the benefits of filing for Chapter 7 Bankruptcy ONLY come if a debtor actually qualifies to file for Chapter 7 Bankruptcy. The benefits of filing for Chapter 7 Bankruptcy while you qualify (within Orange County, Los Angeles County, Riverside County, and San Bernardino County) are crucial to determine first.

    Determining whether a debtor qualifies for Chapter 7 Bankruptcy is complex and requires the skills of an experienced bankruptcy attorney. Debtors residing in various cities within Los Angeles County, such as La Habra, Orange County, Riverside County, San Bernardino County, and other surrounding counties have various income and expense standards that have been designated. For example, a single debtor with no children (household size of 1) in the City of La Habra can make less income per month then a single debtor in the City of La Mirada, but not in La Placentia or Fullerton.

    Conversely, a single debtor living in the City of Garden Grove, Yorba Linda, Anaheim, and Buena Park must actually make less money per month or have more qualified expenses per month then a single debtor in La Habra.

  4. Conclusion
  5. In sum, it is crucial that a debtor facing a dramatic pay cut use the opportunity to file for Chapter 7 bankruptcy in order to discharge the outstanding debt and providing relief, both financially and health-wise, to a debtor.

Call for a Free Consultation

It is crucial to select an experienced Bankruptcy Attorney. La Habra City attorney Gregory E. Nassar is an experienced Bankruptcy Lawyer gladly serving La Habra City, and other cities within Orange County, Riverside County, Los Angeles County, and San Bernardino County. Attorney Gregory E. Nassar will review the case, carefully evaluating all the circumstances of client to determine the best route to solving the client’s financial detriment and reducing financial stressors.

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