Bankruptcy Lawyers - Consumer Attorneys

You Are Entitled to a Fresh Start and an Improved Credit Score

Filing for bankruptcy can be an arduous task, especially if you have a lot of creditors. However, in the U.S., it is extremely simple in relation to most of the rest of the world. There are many ways to find out how to file for bankruptcy. However, by far the most effective way is to seek legal counsel. This will ensure you make no mistakes or slip-ups while completing the process. There are many complicated hoops one must jump through when filing for bankruptcy. A lawyer can explain the entire process while covering you legally in every aspect.

If you're considering filing for bankruptcy as an individual or business owner, your most prudent option is to consult with an experienced bankruptcy lawyer. They can guide you through the entire process of filing for the two most common types of bankruptcy for individuals: Chapter 13 or Chapter 7 Bankruptcy.

Chapter 7 bankruptcy, also known as "liquidation" or "straight bankruptcy," allows individuals to discharge (eliminate) most of their unsecured debt, such as credit card debt and medical bills. To qualify for Chapter 7 bankruptcy, individuals must pass a means test, which compares their income to the median income of their state. If their income is below the median, they qualify for Chapter 7 bankruptcy. If not, they may still be eligible if they can prove that they do not have the ability to repay their debts under a Chapter 13 repayment plan.

Chapter 13 bankruptcy, also known as "reorganization" bankruptcy, allows individuals to keep their property and pay off their debts over a period of three to five years. To qualify for Chapter 13 bankruptcy, individuals must have a regular income and their debt must fall within certain limits. Under a Chapter 13 plan, individuals must use their disposable income to repay their creditors, and the bankruptcy court must approve the plan.

Having a skilled professional handle your bankruptcy is extremely helpful. A decision to file for bankruptcy should be made only after determining that it is the most appropriate way to deal with your financial problems.

Post-bankruptcy you may be entitled to a fresh start, and improvements to your credit score. But a credit reporting agency may wrongfully fail to update your credit report, adversely affecting your credit score. For example, a loan that was discharged by a court may wrongfully remain on a consumer's credit report. This inaccurate and misleading listing will cause the consumer to deal with the aggravation, humiliation, and embarrassment of a low credit score and credit denial.

Consumer Attorneys understands this situation and will work to fix your credit report. Write to us now and we will explore your case for free.

WHAT IS BANKRUPTCY

What Is Bankruptcy

Bankruptcy is a legal proceeding in which a person who cannot pay his or her bills can get a fresh financial start. In the United States, the right to file for bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court. Filing bankruptcy immediately stops all your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law.

Many people who have fallen behind on their credit card bills, mortgage payments, and other bills are likely to wonder whether bankruptcy is the right way to manage their debt. Depending on your financial situation, bankruptcy can certainly be effective and beneficial in regaining control of your finances and repairing damaged credit.

A Bankruptcy Lawyer's aim is to provide you, the person considering bankruptcy, with the tools and information you'll need in order to make an informed decision. Before beginning the process of filing for bankruptcy, it’s crucial to evaluate whether bankruptcy is right for you. Our experienced bankruptcy attorneys can walk you through the varying alternatives to bankruptcy before helping you decide on the right course of action.

What Happens When You File for Bankruptcy with a Lawyer

Bankruptcy is a tough choice. However, it becomes an easier decision when lawsuits are pouring in, and court officers are banging on your door to enforce judgments. It can also be an easy choice to decide when there has been a tragedy in the family due to an accident or illness. Perhaps the loss of income or a failed business venture has taken all that you’ve saved or has thrown your “making ends meet” plan far off course. Consumer Attorneys helped many clients make the right choice and have taken critical actions to help them immediately.
There are situations, however, where an in-depth analysis is necessary for an individual to feel comfortable with the decision to file. Typically, these complex cases involve houses, investments, and diverse business interests. Our office is staffed with mortgage and real estate professionals. These experts have helped many in their own fields with the tough analysis and recovery plans. Short sale, loan modification and land contracts for a new home are options that you may want to consider prior to filing.

At Consumer Attorneys, one of our primary areas of business is representing individuals in bankruptcy under the new bankruptcy law. If you are experiencing any of these problems, YOU ARE NOT ALONE. We offer a FREE INITIAL CONFIDENTIAL CONSULTATION to individuals interested in learning about the updated bankruptcy law. During your consultation, we will explain in greater detail the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy, as well as the bankruptcy process. We will explore your circumstances, and together, we can decide whether filing for bankruptcy under the new code would be a beneficial choice for you. At your consultation, you will be treated with the respect and dignity that you deserve. Your financial situation will be carefully evaluated, and we will attempt to create an individualized plan of action.

You may be asking yourself: What Can Bankruptcy Do For Me

Here are just a few ways in which bankruptcy can improve your life:

Eliminate the legal obligation to pay most or all your debts. This is called a "discharge" of debts. The discharge is a court order signed by a Federal Bankruptcy Judge, and it is designed to give you a "fresh financial start".
Prevent repossession of a car or other property or force the creditor to return the property even after it has been repossessed.
Prevent termination of utility service; restore service that has been disconnected.

At Consumer Attorneys, our practice involves helping people from all walks of life through the bankruptcy process. We know that the decision to file bankruptcy can be very emotional for people. We believe that open and honest communication between an attorney and a client is the only way to begin the healing process. We realize that sincere, honest, and hard-working people, much like yourself, are susceptible to unmanageable debt, and we pride ourselves on being sensitive to your needs.

Bankruptcy is not the end of the road. It’s about the future. Taking this step may lead to a life that's less stressful and more enjoyable. Under the recently enacted law, many individuals can reorganize and catch up on past due house and car payments and pay off their secured and unsecured creditors (medical bills, credit cards, etc.) by consolidating into a lower monthly payment.

Whether or not you ever want to see another credit card again is up to you. Just remember, we are dedicated to helping our clients. You may be able to restore your credit in as little as two (2) years. We also aid our clients who are interested in qualifying for a home loan after completing this process.

We’re here to help you through these difficult times. Our office is a proud member of the National Association of Consumer Bankruptcy Attorneys. We want to help you. Call us today. We will provide tough, affordable representation.

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Frequently Asked Questions

Can we help improve your credit history after bankruptcy?

You won’t go through the rest of your life wearing a scarlet B on your head. Your credit reports will start getting better everyday after you file your bankruptcy case. No later than 7-10 years after your filing, they will be completely clear.
Will I Have to Go to Court?

In most bankruptcy cases, you only have to go to a proceeding called the "meeting of creditors" to meet with the bankruptcy trustee and any creditor who chooses to come. Most of the time, this meeting will be a short and simple procedure where you are asked a few questions about your bankruptcy forms and your financial situation. Occasionally, if complications arise, or if you choose to dispute a debt, you may have to appear before a judge at a hearing. If you need to go to court, you will receive notice of the court date and time from the court and/or from your attorney.
Will Bankruptcy Wipe Out All My Debts?

Yes, with some exceptions. Bankruptcy will not normally wipe out:
(1) money owed for child support or alimony, fines, and some taxes;
(2) debts not listed on your bankruptcy petition;
(3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan;
(4) debts resulting from "willful and malicious" harm;
(5) most student loans, except if the court decides that payment would be an undue hardship;
(6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is sold by the creditor).
Should I Feel Ashamed To File Bankruptcy?

Obviously, there are so many issues to think about prior to filing for bankruptcy protection; however, feeling ashamed should not be one of them. The History of Bankruptcy in the United States dates back to the founding fathers, wherein they expressly outlawed debtor's prisons and immediately instituted forgiving bankruptcy laws early in our nation's history. Over the years, some of the nation's most revered companies and people have turned to the bankruptcy system for help. Perhaps this nation's greatest President and founding father, Thomas Jefferson, filed for bankruptcy not just once, but several times to eliminate the accumulation of his huge debt. The same holds true for Walt Disney. Other notable individuals that have filed for bankruptcy protection are: Larry King, Redd Foxx, Wayne Newton, Abe Lincoln, Burt Reynolds, Johnny Unitas & Toni Braxton, just to name a few. The filing of a personal bankruptcy is better put into perspective when you know that men of Mr. Jefferson's, Mr. Disney's and Mr. Lincoln's foresight and intelligence could get themselves into and out of financial trouble.

At the Consumer Attorneys LLP, we view bankruptcy as a financial planning tool. If used properly, bankruptcy will put you onto the road to recovery. Our #1 goal is to help our Clients achieve their goals. Most of our Clients tell us that their goals include Financial Freedom. We all know that to be financially free, a person cannot have debts. If our Clients use the bankruptcy process to eliminate or re-structure their debts, they are on the road to recovery, whether they know it or not. Our Clients learn from the past (about interest, penalties, fees and mortgages), continue their education throughout the process, and make good sound financial decisions in the future. Our Clients know that the mortgage companies, credit card companies and auto finance companies will do everything possible to take away your future wealth. They do it financing your future away. They are looking to lure you into high interest contracts that will literally cost you hundreds of thousands of dollars in interest or finance charges.

There is a better and happier way to live, the debt free way. When an individual files for bankruptcy, they are forced to focus on their monthly budget and their debts. Once their debts are either eliminated or re-organized, then they can focus on the other debts. We strive to provide our Clients with a strategy to payoff all of their debts and become. Just imagine, if you were debt free, with no mortgage or car payments, how much money you could be investing and earning interest on. For most people that number is over $1,000.00 per month.
What Bankruptcy Can Not Do

Bankruptcy can not, however, cure every financial problem. Nor is it the right step for every individual. In bankruptcy, it is usually not possible to:
(1) Eliminate certain rights of "secured" creditors. A "secured" creditor has taken a mortgage or other lien on property as collateral for the loan. Common examples are car loans and home mortgages. You can force secured creditors to take payments over time in the bankruptcy process and bankruptcy can eliminate your obligation to pay any additional money if your property is taken. Nevertheless, you generally can not keep the collateral unless you continue to pay the debt.
(2) Discharge types of debts singled out by the bankruptcy law for special treatment, such as child support, alimony, certain other debts related to divorce, most student loans, court restitution orders, criminal fines, and some taxes.
(3) Protect cosigners on your debts. When a relative or friend has co-signed a loan, and the consumer discharges the loan in bankruptcy, the cosigner may still have to repay all or part of the loan.
(4) Discharge debts that arise after bankruptcy has been filed.
What can you not do after filing bankruptcy?

Bankruptcy may make it possible for you to:
(1) Eliminate the legal obligation to pay most or all of your debts. This is called a "discharge" of debts. It is designed to give you a fresh financial start.
(2) Stop foreclosure on your house or mobile home and allow you an opportunity to catch up on missed payments. (Bankruptcy does not, however, automatically eliminate mortgages and other liens on your property without payment.)
(3) Prevent repossession of a car or other property.
(4) Stop wage garnishment, debt collection harassment, and similar creditor actions to collect a debt.
(5) Restore or prevent termination of utility service.
(6) Allow you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe.
What Else Must I Do to Complete My Case?

After your case is filed, you must complete an approved course in personal finances. This course will take approximately two hours to complete. Your attorney can give you a list of organizations that provide approved courses, or you can check the website for the United States Trustee Program office at www.usdoj.gov/ust
In a chapter 7 case, you should sign up for the course soon after your case is filed. If you file a chapter 13 case, you should ask your attorney when you should take the course.
What are some reasons to hire an attorney for your bankruptcy case?

- Once your hire a lawyer, creditors must stop calling you.
- Your lawyer will help identify consumer protection claims and other rights to which you might be entitled.
- Your lawyer will be sure you list all your assets and liabilities.
- Your lawyer can explain the different Bankruptcy chapters and decide which is best for you.
- Your lawyer can prevent you from making mistakes which could cause you thousands of dollars or loss of assets.
- Your lawyer can help redeem personal property, like a car, from secured debts at a fraction of your original debt.
- Your lawyer will make sure you don’t loose your discharge for failure to take a financial management course.