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When a lawsuit, divorce or bad investment threatens your financial health, you may need to explore legal options that can protect you. A lawyer with plenty of experience in these fields can offer strategies that will help you keep your money and assets.

Bankruptcy Options

If you cannot pay your creditors on time, bankruptcy could help you keep many of your assets and prevent debt collectors from harassing you. There are, however, several types of bankruptcy, so you should meet with a lawyer to decide which option works best for you.

Some of your options might include:

• Chapter 7, which liquidates certain types of property while allowing you to keep ownership of essential assets
• Chapter 13, which allows you to reorganize your debt so that you can repay it in a timely manner

Protecting Finances During Divorce

Divorce laws can vary from state to state, so you need to find a local lawyer who understands the intricate nature of how state laws will affect your finances. If, for instance, you live in San Francisco, find a San Francisco lawyer with a lot of experience in divorce settlements and lawsuits.

In most cases, you should hire a lawyer before the divorce is finalized. If you have already gotten a divorce, though, you might still need to explore your legal options. This could help you obtain alimony or protect your earnings from a former spouse.

Exploring legal recourse could help you protect your assets and income when faced with a lawsuit, divorce or bankruptcy. What types of legal options have you considered for your finances?