How Will 2013 Affect Your Finances?

San Diego Bankruptcy Attorney

As a San Diego bankruptcy attorney, I’m afraid I may be seeing a lot more clients coming into our office, to find out what debt relief protection they can gain by filing for bankruptcy. That’s because the economy is still so uncertain, and some big changes are coming down in 2013.

Remember how California voted for Proposition 30? I’m not sure a lot of people realized the big impact it was going to have. Yes, it’s good that we are supporting our schools, but there is a fiscal impact a lot of people haven’t allowed for. That’s because it’s a tax that applies to all the money you earned in 2012, retroactively. And that means you probably didn’t allow for extra money you owe the State of California in taxes.

Then there is Obamacare, otherwise known as Patient Protection and Affordable Care Act. It adds to the taxes that individuals will pay on unearned income.

And all the deals and re-evaluations to avoid the fiscal cliff…well, even the IRS is trying to figure it out.  A lot of people, who are teetering on the edge, are not financially prepared for the implications of changes in the tax laws. Are you one of them?

Of course, no one knows exactly what lies ahead for the job market either. And if you’re counting on getting a speedy tax refund to avoid your own personal fiscal cliff, good luck! You may not even be able to file your tax return until March, let alone get a speedy refund. That’s why it’s so important to take a hard and honest look at your finances as soon as possible.

If your finances are already out of control, and you’re doing everything just to stay one step ahead of your creditors, 2013 is probably not going to be a good year for your finances. That is, unless you take steps to get real debt relief by filing for Chapter 7 or Chapter 13, which can set you back on the path to financial freedom. At Thompson | Wedeking, we have 37 years of experience, and have seen all sorts of ups and downs in the economy. We are here to help you get a fresh start on your finances, and make 2013 the year when YOU take control of your finances, rather than the year your debts took over your life. We urge you to download a copy of our free book, The California Guide to Bankruptcy, to find out what a qualified bankruptcy can do for you. Then give us a call at 888-590-1773 to get a FREE evaluation of your situation by one of our San Diego bankruptcy attorneys. Want to know more? Visit our web site to find out what we can do to help!


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