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After the dream, comes the dread. After the boom, comes the bust. This is the law of business cycles. But what has happened recently (over the last 9 months) in the US and indeed globally has come as a rude shock to everyone. Jobs are being lost by the millions as the US reels from the worst unemployment and bankruptcy figures since the Great Depression of the 1930’s. Everyone is running scared, businesses are cutting back on expansion plans and jobs and costs while consumers scale down spending and postpone consumption plans. This downward economic spiral has led to so many bankruptcies and even in the San Rafael are there is a mad scramble for every single San Rafael Bankruptcy Lawyer!

There are so many people that had it great when the going was good and who indiscriminately purchased gods, property and other baubles that brought along huge financial liabilities. As it is, Americans are well known as being heavy consumers and spenders with low saving propensity. But when the dream went bust, there were many facing the dreadful prospect of total bankruptcy. It is here that bankruptcy lawyers can help in assessing the extent of liability and recommending appropriate Chapter 7 or 13 filing under the US bankruptcy law. Bankruptcy brings with it the prospect of being threatened and berated by creditors and great shame when the credit recovery agencies call by phone or though visits to make good the payments. A competent San Rafael Bankruptcy Lawyer will be able to help you in your hour of need if you are faced with bankruptcy.

Filing under chapter 7 works for many people who want to liquidate and pay up creditors. This is possible in as less ad 4 months so that a person is free to start life anew. On the other hand a person who has a salary higher than the state median salary can file under chapter 13 so as to be able to retain some assets and make good the payments towards debt over 3-5 years. For details contact a San Rafael Bankruptcy Lawyer.

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San Rafael Bankruptcy Attorneys are here waiting to help you out. Call us today or stop by our site at http://www.northerncaliforniabankruptcylawyer.com/

Article Source: ArticlesBase.com - Bankruptcy Consultations in San Rafael California