As an Orange County bankruptcy attorney, people sometimes ask me whether filing bankruptcy in Orange County differs from filing somewhere else, such as Los Angeles, Long Beach or Riverside. The differences may be subtle, but there are some unique characteristics to an Orange County Bankruptcy (filed at the Santa Ana Federal Courthouse), that are different from filing anywhere else.
Orange County Bankruptcy Clients
Since Orange County was somewhat of an epicenter for the real estate mortgage origination business, many bankruptcy clients have a background in the real estate market. Orange County was hit particularly hard when mortgage origination came to a grinding halt in 2007. It affected not only those who were directly employed by mortgage companies and mortgage originators, but all the related businesses as well, such as escrow companies, title companies, loan servicers, even advertisers and local publishers. The Orange County economy was so tied into real estate and mortgage, it has been hard for Orange County workers to overcome the dramatic real estate crash. Unfortunately, many of these consumers have become Orange County bankruptcy clients.
Orange County Bankruptcy Marketplace
The good news here is that the painful part of the recession seems to be behind us here in Orange County. As one of the geographic leaders into the recession, it is only fair that Orange County has, for the most part, internalized the losses in jobs and real income and is growing again. I don’t have any recent economic charts to back me up here, just my view from the Orange County Bankruptcy trenches. I think we saw a spike in consumer debt after mortgages basically stopped, and it took some time to work through those problems with bankruptcy or different jobs for many people, but now things seem to be stabilized and positioned for growth going forward.
Top Orange County Bankruptcy Attorney | Best Orange County Bankruptcy Lawyers
If you are considering filing bankruptcy in Orange County, few firms understand the local landscape like McFarlin LLP. Our bankruptcy attorneys are available to speak to you in much more detail about your specific situation at our Irvine office. Our bankruptcy lawyers represent clients throughout Orange County including Anaheim Hills, Orange, Huntington Beach, Santa Ana, Irvine all points in between. We have attorneys to consult with you in person or on the phone about your situation at no initial charge. We would be happy to explain the process and analyze your financial situation. Call us today at (888) 728-0044.