Rising Gas Prices Explode Family Budgets: Will Chapter 13 help?

Gas Prices Hit Historic Highs in California

Gas prices in California have risen an average of 60 cents as gallon in the last week. 19 Costco gas stations and numerous others ran out of gas entirely. Lines at pumps were longer than they have been seen since the 70’s. The price for premium grade of gasoline in Los Angeles are reported to have reached  $6.00 per gallon! Various “so called” explanations for this massive increase range from refinery fires, changing from summer grade to winter grade gasoline, to oil company conspiracies. The Governor is seeking emergency action to reverse the trend but admits it will not be a quick fix. Sadly, the net result of rising gas prices to California residents is that family budgets are being stretched beyond the breaking point. How are people going to be able to cover the extra  costs of commuting to work, taking the children to school, running necessary errands such as going to the grocery store and getting medical care?

People Turn to Chapter 13 for Debt Relief

Because of this increased expense caused by rising gas prices, more and more people are turning to Chapter 13 of the Bankruptcy Code. Chapter 13 was designed by Congress to help people reorganize their credit card debts  to stop interest and lower, or in some cases completely eliminate, their monthly payments. People’s goal under Chapter 13 is to free up more budget money each month for their family to live and meet their necessary obligations.

Chapter 13 May Help You Deal with Increased Costs of Living

When wages are still stagnant in the aftermath of the worst recession since the great depression, and costs such as gas prices are rising to historic highs, people are seeking relief from a federal law called Chapter 13, provided for under the United Constitution, to reorganize their finances. If you would like to explore that possibility and see if you can qualify for this unique law, contact my office for a free in-office consultation. I  have been helping the citizens of Oceanside, Carlsbad, Escondido, San Marcos, and Vista for over 30 years. I will be please to meet with you and analyze your financial situation.

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