Evan Granowitz: Factors to consider before filing for bankruptcy

This latest Evan Granowitz blog post will try to answer the following questions: Should you file for bankruptcy? Is bankruptcy a good option for you?
 

From Evan Granowitz

When faced with overwhelming debt, most people and organizations consider whether they should file for bankruptcy or not. Surprisingly, some even automatically resort to filing one. Nonetheless, it is important to remember that bankruptcy is not the only option available for an insolvent person or organization, and understanding the process is of essential value before filing.

People should remember that, once filed, bankruptcy can produce certain disadvantages, including ruined credits, difficulty in filing bank accounts and credit cards, and loss of valuable possessions. Fortunately, it is not the only option available.

From Evan Granowitz

“Evan Granowitz of Wolf Group LA considers bankruptcy litigation as one of his expertise.”

With the help of a bankruptcy attorney, a person can determine whether he or she should file for bankruptcy. In some instances, like when a debt is not dischargeable (such as those based on fraud or breach of fiduciary duty, and certain types of tax debts), a bankruptcy attorney may advise certain alternatives that can be beneficial to the person involved. These may include participating in a debt counseling program, designing a repayment plan, or negotiating with creditors.

From Evan Granowitz

Evan Granowitz is a member of the Orange County Bar Association and is a recipient of the Super Lawyers Rising Star award for three consecutive years, from 2009 to 2011. Learn more about him by visiting wolfgroupla.com.