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Riverside Bankruptcy 2012 Year in Review

Bankruptcy Law Professionals services in Riverside and the rest of the Inland Empire proved successful in helping thousands of people in 2012. There were many common themes that the general consumers were bringing to the table for us to help resolve. Major issues in the news like student loans and the fiscal cliff were all a part of the questions that needed to be answered for our clients. We would like to take this opportunity to provide some highlights of the major issues we ran into in 2012.

Riverside and San Bernardino counties were the hardest hit by the real estate crisis of 2008. We are proud to have helped many people stop foreclosure sales with Chapter 13 or Chapter 7 services, but there were many different strategies that homeowners needed to resolve their issues. Many clients who qualified for Chapter 7 or Chapter 13 were able to save their home for the long term. Others used bankruptcy to help manage the sale of their home and the foreclosure process. Bankruptcy stops evictions which allowed much more time for families to prepare for their move and save for their next place of residence. In many cases, a bankruptcy was able to stop a foreclosure sale from going through to give people time to apply for a short sale or loan modification. This past year, many banks changed strategies and allow much more flexibility around short selling a home. In some cases, people are receiving relocation funds to help families in the short sale process. In 2013, Bankruptcy Law Professionals will be utilizing all of the experience we have gained in real estate matters to help our clients in the Riverside and San Bernardino areas. We will also be keeping up to date with real estate companies and mortgage companies on the latest changes in any mortgage or real estate related debt relief programs and processes.

The impact of recession in Riverside and San Bernardino Counties spurred a high volume of bankruptcy activity due to high unemployment rates. When unemployed, cash reservation becomes the number one priority. In 2012, bankruptcy protection proved to be the best way to protect your assets such as cash reserves and retirement funds. For many people who had lost jobs in the heaviest hit industries like mortgage and construction, people were looking for a way to stop losing their money to their creditors while they were having a difficult time keeping the lights on in their homes due to a lack of income. Bankruptcy protection does come at a small fee, but it may cost you much less money to pay for a bankruptcy rather than dealing with wage garnishments or bank account levies as a result of judgments from your creditors. We were able to help many people protect their assets as they went through the process of securing new employment and creating new income. Todays economic environment in Riverside and San Bernardino counties is in a recovery phase, but many people are still struggling to catch up to their bills. Bankruptcy Law Professionals is dedicated to helping those who need assistance in getting back to a normal lifestyle after the harrowing affects of this recession.

Over the last year, Bankruptcy Law Professionals has gained valuable experience and recognition with the court systems in Riverside and San Bernardino counties. We are now one of the most recognized bankruptcy law firms in the court system and we can put that advantage to work for you.

If you would like to schedule an appointment for a consultation in-person or by phone, please contact Bankruptcy Law Professionals at (855) 257 – 7671. We look forward to hearing from you.

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