Hi, my name is Andrew Griffin the third I am a California consumer bankruptcy attorney I’ve been doing this for over 35 years as a Consumer bankruptcy attorney people often ask about the pros and cons of filing for bankruptcy protection I’ll tell them simply that I can name at least Five positive things right off the top of my head then that I’m good reason for filing bankruptcy Of course, there are more but I wouldn’t want to waste your time Listing all the reasons buy bankruptcy is beneficial and this is not exclusive and it would be more Relevant hearing Southern California than other places, but I hope you will see some of the benefits that I see The first and most important benefit is the automatic state hands on this is one of the most beneficial benefits for filing bankruptcy protection the automatic stay immediately stops most creditors and credit collection actions in their tracks in California the filing of a bankruptcy position creates a bankruptcy estate and the automatic stay immediately goes into effect so many of the clients filing bankruptcy They file it during a lawsuit or a foreclosure. This stops the Lawsuit or the foreclosure and gives the debtor a moment to catch their breath The second reason is debt relief One of the goals of a bankruptcy filing is to obtain a discharge of your debts so this charge will operate as an injunction to prevent a Creditor or any other debt collector from attempting to collect on any discharge real debt including if you include those in bankruptcy many of my colleagues have written about the discharge so It go on here about what’s the benefits of filing bankruptcy and getting a debt relief All I want to remember is that is one of the most positive things about filing for bankruptcy protection the third benefit is that of Stripping a second mortgage from your home This process can be used as used mostly in chapter 11 and chapter 13 cases Fourth is the repay of creditors in a reasonable manner in chapter 13 in chapter 11 these chapters Allow individual debtors and corporate debtors to the opportunity to repay all or portion of the debts in a reasonable fashion Usually the better the payment is equal to the debtors disposable monthly income. This amount will vary between jurisdictions So it’s important to understand how this amount will be determined before filing bankruptcy and and five financial planning Bankruptcy is really financial planning 101 Now that you have a filed your bank, which protect protection I’m going to break the news to you This is only the beginning of your final education You have so much to learn I challenge you to read a book a month about finances and how money really works for you or against you You have the right to be financially independent and bankruptcy could put you on the correct path I cannot tell you how many of my clients are on the road to financial success Now that they have put the problems of their finances behind them This is Andrew Griffin the third at Andrew Griffin law office calm today We are helping you understand the bankruptcy process If you want to learn more about the pregnancy process Go to at Andrew Griffin law office calm to get a free copy of my book, but you can buy for 1695 I want to give Everyone an opportunity to get that for an immediate free PDF download or click on a link and you’ll get an immediate free download