I've had a good number of friends file for bankruptcy and then show up on the Internet days later. One of my friends emailed me saying that when he typed in his name he saw his date for bankruptcy court online and he wanted to know what he could do about this. I advised there is not much you can do about it, once your out in the wonderful world of the search engine universe anyone can find you. Sadly, I could type his name in Google and there was his court date for his bankruptcy.
My friend's American dream was to own his own home and have a great marriage. Unfortunately, none of this happened for him and he had credit card debt that was destroying his credit and the collectors were coming after him. So, he got himself a lawyer who specialized in bankruptcies and his problem seemed to be solved.
Bankruptcy Credit Cards, Getting Good Bankruptcy Lawyer, Bankruptcy Trustee,
One of the vital points he shared with me, is that if you have a small debt, then bankruptcy may not a good option for someone to be looking at. Normally, a person who is in debt over $30,000 is a good candidate for filing and receiving relief from his or her debts.
We are living in a dangerous time where people are losing their homes and credit card debt has left people getting phone calls from collectors at all hours of the night. Is this really the American Dream? What have we learned from our Government about debt? Millions of Americans fell into the trap of spending their future. They were not content with saving and waiting to buy what they desired, they just charged it and hoped for the best.
One of my friends had to wait years before he could rent an apartment again after he filed for bankruptcy, so keep in mind, not everything is going to be a bed of roses after you file. It is wise to seek out the advice of a credit counselor or a bankruptcy attorney when dealing in trying matters such as these. Talking with an attorney may help you understand whether or not this is the best choice of action for you to take.
The real question is will you qualify for filing a chapter 7 bankruptcy? This may depend on whether or not you have funds available to pay on the debt. If there is a way for you to pay back the debt, then you may be ineligible. If this is the case, you may have to do a Chapter 13 bankruptcy repayment plan instead. Both of my friends that had to file, were not able to pay any money back at all. One did not have a job and the other was making only seven dollars an hour, as a result they were able to successfully file. How much you might have to pay the lawyer depends on who you know, because one of my friends paid less then the other to get rid of his debts.
Filing really depends on your financial situation and you might be able to cut back on bad spending habits. Who knows, with the right financial planning, you might not have to file for bankruptcy. Keep in mind that some creditors might be willing to work with you and realize that any other course of action will end up costing them more money in the long run. It may be wise to look into refinancing if you own your home, because this may pay off most of your debt quickly.
In closing this article I want to warn you about the companies that swear they can help erase your debt. Most of these companies are out to get your money and your better off talking to your bank and attorney. Think about this, the companies on TV that promise to make your life better, have to make money to stay in business and you can find much of the same information online. Do your research, consult your attorney, talk to your bank and weigh all your options carefully.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Bankruptcy Auctions
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment