The San Diego bankruptcy lawyers at the Golden State Law Group hereby advise consumers in the area to not wait to schedule a free initial consultation with the firm in order to have their financial pictures thoroughly reviewed.
San Diego, California (PRWEB) April 07, 2012
The San Diego bankruptcy attorneys at the Golden State Law Group, a law firm dedicated to providing help with bankruptcy and other strategies to struggling consumers, hereby announces that the firm is offering a free initial consultation to consumers who may be waiting for a tax refund check to arrive in order to be able to pay for the costs of filing for bankruptcy protection. A recent study indicated that more people are using this strategy since the passage of the new bankruptcy law in 2005.
Specifically, researchers at Columbia University published the results of its statistical study in a paper entitled, “Liquidity Constraints and Consumer Bankruptcy: Evidence from Tax Rebates” that revealed that in the year 2001, total number of bankruptcy filings increased by a factor of 2 percent after tax rebate checks had been issued. In 2008, the number of bankruptcy filings increased by a factor of 7 percent after tax rebate checks had been issued.
The researchers pointed to the passage of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) as the line of demarcation between the larger rise in the number of people filing for bankruptcy protection in the later years of the study as compared to the earlier years after receiving tax rebate checks. The changes put forth in BAPCPA include the consumer having to pay for the required credit counseling that must be completed before a Chapter 7 bankruptcy case can be filed.
The San Diego bankruptcy lawyers at the Golden State Law Group hereby advise consumers in the area to not wait to schedule a free initial consultation with the firm in order to have their financial pictures thoroughly reviewed. This may reveal a pathway to filing for bankruptcy protection or some other strategy for relief that would not necessitate the waiting for or the use of a tax rebate check.
About the Golden State Law Group
The Golden State Law Group is a law firm in San Diego, California that’s comprised of a team of attorneys who provide legal help to consumers. Specifically, the attorneys at the firm provide help to consumers in the legal areas of consumer bankruptcy, tax debt issues and personal injury cases.