The answer to getting out of debt begins here

One of the most widely asked questions when I’m interviewing someone that is considering a bankruptcy is “ what will happen with my credit cards? Will I have to continue paying them? Will they be discharged ?”. The good news is that your credit cards are unsecure assets. This means that they are dischargeable. The trustee may pay the creditor some of the money from assets they may have sold to pay creditors but that is probably the only money those creditors are going to see. So yes you will be able to discharge the debt related to the credit cards.
The problem with the credit cards is when you are using them when you know you are going to file bankruptcy. This could turn into a big problem and it can result in criminal charges if it can be proven that you knowingly committed fraud. This is why you have to stop using the credit cards as soon as you see problems. You will be asked to stop using the credit cards 90 days prior to filing. This is good rule to follow because not following it could bring problems. To avoid problems just make sure you stop using them 90 days prior to filing and do not use them knowing you will be filing bankruptcy in the future..
What makes us different is that we walk you through every stage, making the process easier to deal with. At our law firm our first priority is you the client. Let our experience work for you.

The answer to getting out of debt begins here

When an individual files the bankruptcy petition all pending lawsuits or any other legal automatically stops. This is referred to as an automatic stay. This is very import because it can stop foreclosures, garnishments, or the enforcement of other lawsuits during the pendency of the case. This automatic stay can be lifted by the opposing side by making a proper motion before the bankruptcy judge. The biggest benefit afforded by this stay is that it gives you valuable time to come up with an alternative solution.

In many situations the bankruptcy is filed for the sole purpose of getting an automatic stay on their foreclosure case. It is important to understand that this is not a cure all for the foreclosure. The opposing counsel has the option of filing a motion to lift stay. These are commonly granted. Once granted the foreclosure procedure continues. The stay can only buy time to come up with another solution. There is much written on this on the internet it is important you know how the stay works in reference to foreclosures.

As to other cases the stay is even more valuable because it can stop people from taking what little money you have left. It can allow you to move freely without having anyone enforce judgments or pursuing other court actions. The most important thing it does in these other cases is that it allows you to breath. In that you do not have to worry as much about pending lawsuits or enforcement action.

What makes us different is that we walk you through every stage, making the process easier to deal with. At our law firm our first priority is you the client. Let our experience work for you.

The answer to getting out of debt begins here

One of the biggest reasons that could cause an individual to consider filing bankruptcy is if they get hurt or become ill and have to spend time in a hospital and as a result a debt is incurred that could be quite a bit of money if the person does not have insurance. These numbers can get so high that a person will see no alternative but to file for bankruptcy.  The good news for the person considering bankruptcy is that these debts are considered unsecured and could be discharged in a bankruptcy.

If the individual is permitted or is qualified  to file a chapter 7 bankruptcy the medical bills will be discharged as explained earlier. If the person files a chapter 13  the bills will be considerably reduced. If you had to choose one the better option is a chapter 7. The stay that goes into affect when the petition is filed also helps you here because the hospital will not be allowed to proceed with any lawsuits. The good thing here is that it will be very difficult to lift the stay in this situation. Many doctors are aware of this and will be more then willing to negotiate the bill. In many cases people can get the bill reduced considerably without filing  bankruptcy.

What makes us different is that we walk you through every stage, making the process easier to deal with. At our law firm our first priority is you the client. Let our experience work for you.

Since 2008 many people have been struggling with their mortgages and many have come close to losing their homes after foreclosure crisis kicked in. One of the areas that people looked for help was in the area of bankruptcy. Many people filed bankruptcies in an effort to save their homes from foreclosure. This comes with complications. The following is the information you might want to consider if you want to file bankruptcy to save your home.
In the case of a home owner that has been foreclosed on and a sale date has been set and you are days away from the sale date. Filing a chapter 7 bankruptcy in this case will stop the sale because the automatic stay goes into affect. This is going to be the only benefit you will get from the chapter 7 in helping you keep your home. The individual can say they want to keep house and work with the lender but lenders are not likely to agree to loan modification if the person is in a chapter 7 bankruptcy.
The way that a bankruptcy can help a homeowner trying to save their home is by filing a chapter 13. This allows the homeowner to reorganize their debts and create a payment plan. A chapter 13 will also have a program to encourage modifications. The people filing for chapter 13 bankruptcy is given this. If you want to save your home this is the way to go.
What makes us different is that we walk you through every stage, making the process easier to deal with. At our law firm our first priority is you the client. Let our experience work for you.age, making the process easier to deal with. At our law firm our first priority is you the client. Let our experience work for you.