You probably never expected to be injured in an accident. The sad reality is that many unsuspecting people in California suffer serious injuries in motor vehicle accidents, truck collisions and more. Like other victims, you might be wondering how you will pay your medical bills and deal with other economic damages, like lost income from taking time off work. While the situation might feel hopeless, you have options.
California police believe that the driver who apparently caused a multi-vehicle accident was under the influence of illicit drugs. They charged the driver with a felony DUI, although toxicology reports have yet to determine whether this was the case. In total, seven vehicles were involved in the motor vehicle accident, which resulted in several injuries.
Car owners in California often take pride in their vehicles, but some may be struggling to keep up with their monthly payments. While owning a car is often necessary for employment, some people could see a large chunk of their paycheck going straight toward their auto loan. Although it is possible to eventually pay off a car in several years and live payment-free, getting to that point can be difficult. In such cases, Chapter 7 bankruptcy might be a better option.
Many California companies have used the bankruptcy remedy to achieve an economic reorganization and emerge from bankruptcy in good operating condition. It may seem counter-intuitive, but there are numerous investment companies that are willing to consider putting money into companies that have filed a Chapter 11 bankruptcy, which is the business reorganization chapter of the federal Bankruptcy Code. Investors may take a percentage of ownership in the company in return for infusing fresh capital into the enterprise.