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Often when I meet with clients who are dealing with Creditors Bureau USA I can see the worry and exhaustion in their eyes. Many creditors have earned a bad named for unethical practices.
Many times here in Fresno County people who get sued by Creditors Bureau USA will try and represent themselves. How quick they find out why practicing law is a full time profession – they get flooded with paperwork both from Creditors Bureau USA and from the Fresno Superior Court.
On your own, you will struggle to find out what all this means. For instance, if you have not already attended the Case Management Conference, you will learn that it is not trial, but a meeting with the Court's staff to set up a trial date. Thus, it is not the end, but, but only the beginning.
If you aren’t sure what the paperwork means you end up spending all of your evenings searching the Internet hoping to find information that is useful. Maybe you are doing that now.
But it doesn’t have to be that way. Frankly, one of the greatest benefits of hiring an attorney to help you with your Creditors Bureau USA lawsuit is peace of mind. You can hire a lawyer full time and you get your life back. You can hire a lawyer for consultation services, so you can quickly get on track and know you are doing things right.
Hiring an attorney like me is not going to break the bank. It will cost money, but it will be worth it. There are attorneys like myself that have alternative billing practices (as compared to most attorneys), that will make it some what easier to get an attorney involved.
So the question you have to ask yourself is if it will be worth hiring an attorney, at least on a consultation basis. The alternative is spending hours wondering if you are doing it right. I am biased. Truly, though, you are much more likely to get a favorable outcome.
Photo credit: http://www.flickr.com/photos/betsssssy/
Some debtors wonder if you have to have a specific amount of debt in order to file for bankruptcy protection. In most cases you do not need a set amount of debt to file, but it depends on which chapter you are seeking protection with and other details relating to meeting qualifications. For instance, most [...]
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for November 07, 2013 Pro Athletes Score in Bankruptcy Court Atlantic Club Announces Bankruptcy Filing The Bankruptcy Exemption
Financial experts actually have good things to say about bankruptcy. While filings increased greatly during the recession in 2008, the sudden surge of filers during this time was scrutinized by some experts as an unacceptable way for people to get rid of outstanding debt. But, if you are truly in a situation in which you [...]
Chapter 7 bankruptcy is designed for people who, no matter how hard they work, will find it nearly impossible to ever pay off all their debts and be able to afford daily necessities at the same time. A sale of the debtor’s assets is conducted and the money raised is distributed among his or her creditors. While the stigma of the bankruptcy and the damage to the individual’s credit will last for years the person can usually walk away from bankruptcy free from prior debts, with notable exceptions.
In 2005, Congress passed the Bankruptcy Prevention and Consumer Protection Act of 2005 (BAPCPA) which resulted in several changes to the United States Bankruptcy Code. One adjustment was that it made it much more difficult for individuals to file under chapter 7.
This is where chapter 13 bankruptcy becomes an option. 11 U.S.C. §13 specifically provides for a way for “wage earners” to keep their assets and avoid continued collection activity by agreeing to pay off their debts over a fixed period of time.
- Under chapter 13, a debtor voluntarily suggests a specific plan to to pay his or her creditors over a 3-5 year period. The precise amount of time allowed for the payments to be completed is determined by a debtor’s current monthly income. (11 U.S.C. §1322(d))
A document known as a chapter 13 plan is filed with a debtor’s petition. This written plan details all of the payments and when they are expected to be made. The plan details the treatment of debts, liens and lists the status of all the debtor’s assets and liabilities. The goal of the system is to allow a debtor with a relatively steady flow of income to find a way to pay the amounts owed without having to surrender any assets.
Some of the advantages of chapter 13 bankruptcy:
- You can stop a foreclosure of your property.
- If you have loans coming due soon, you can spread out the payments over the next five years instead of having to pay them off all at once.
The major problems people experience with chapter 13:
- You have to make your payments on time.
- If you do not complete the payment plan as scheduled, you may end up owing your original debt plus retroactive interest.
Filing for bankruptcy though chapter 13 is no magic bullet – it comes with many potential pitfalls, just as other personal bankruptcy options. However, it may be worth it for some individuals.
For those who are instead thinking of turning to debt consolidation companies to help solve their problems, you may be making a costly mistake. Individuals who are considering debt consolidations companies to assist with their debt consolidation may be making a costly mistake. While some of these businesses are legitimate, others are not and may make an individual’s situation considerably worse. These companies often put the money you give them towards paying their monthly “service fees” rather than actually using it to help pay down your debts.
If you think you may qualify for bankruptcy and would like to discuss your options with a lawyer specializing in bankruptcy, please contact Adrienne Woods.
Adrienne Woods
The Law Offices of Adrienne Woods, P.C.
[email protected]
917.447.4321
Chapter 7 bankruptcy is designed for people who, no matter how hard they work, will find it nearly impossible to ever pay off all their debts and be able to afford daily necessities at the same time. A sale of the debtor’s assets is conducted and the money raised is distributed among his or her creditors. While the stigma of the bankruptcy and the damage to the individual’s credit will last for years the person can usually walk away from bankruptcy free from prior debts, with notable exceptions.
In 2005, Congress passed the Bankruptcy Prevention and Consumer Protection Act of 2005 (BAPCPA) which resulted in several changes to the United States Bankruptcy Code. One adjustment was that it made it much more difficult for individuals to file under chapter 7.
This is where chapter 13 bankruptcy becomes an option. 11 U.S.C. §13 specifically provides for a way for “wage earners” to keep their assets and avoid continued collection activity by agreeing to pay off their debts over a fixed period of time.
- Under chapter 13, a debtor voluntarily suggests a specific plan to to pay his or her creditors over a 3-5 year period. The precise amount of time allowed for the payments to be completed is determined by a debtor’s current monthly income. (11 U.S.C. §1322(d))
A document known as a chapter 13 plan is filed with a debtor’s petition. This written plan details all of the payments and when they are expected to be made. The plan details the treatment of debts, liens and lists the status of all the debtor’s assets and liabilities. The goal of the system is to allow a debtor with a relatively steady flow of income to find a way to pay the amounts owed without having to surrender any assets.
Some of the advantages of chapter 13 bankruptcy:
- You can stop a foreclosure of your property.
- If you have loans coming due soon, you can spread out the payments over the next five years instead of having to pay them off all at once.
The major problems people experience with chapter 13:
- You have to make your payments on time.
- If you do not complete the payment plan as scheduled, you may end up owing your original debt plus retroactive interest.
Filing for bankruptcy though chapter 13 is no magic bullet – it comes with many potential pitfalls, just as other personal bankruptcy options. However, it may be worth it for some individuals.
For those who are instead thinking of turning to debt consolidation companies to help solve their problems, you may be making a costly mistake. Individuals who are considering debt consolidations companies to assist with their debt consolidation may be making a costly mistake. While some of these businesses are legitimate, others are not and may make an individual’s situation considerably worse. These companies often put the money you give them towards paying their monthly “service fees” rather than actually using it to help pay down your debts.
If you think you may qualify for bankruptcy and would like to discuss your options with a lawyer specializing in bankruptcy, please contact Adrienne Woods.
Adrienne Woods
The Law Offices of Adrienne Woods, P.C.
[email protected]
917.447.4321
Many homeowners seek a short sale if they are no longer able to maintain their mortgage payments or wish to step away from the property due to valuation issues. In most cases, the homeowner needs to prove a financial hardship for the bank to engage in a short sale. When the house is sold for [...]The post Does a Short Sale Result in Deficiency Debt? appeared first on Acclaim Legal Services, PLLC.
If you are behind on child support payments those payments are not eligible to be wiped out in bankruptcy. Child support payments are considered priority debts that a debtor will continue to be responsible for even after their case ends. But, Chapter 13 bankruptcy may help you get caught up on payments. If you have [...]
This is the case of Amy Jackson who resides in Chicago, Illinois who was visiting me for a consultation on debt relief. Ms. Jackson filed a Chapter 7 bankruptcy more than 10 years ago so she is eligible to file once again. She does not own any real estate. She is currently renting. No formal+ Read MoreThe post Chicago Bankruptcy Lawyer States “Fresh Start In Order” appeared first on David M. Siegel.
Bad news for families needing to file bankruptcy in Fresno! Beginning November 15, 2013, families will need to make almost $500 less per year to qualify to file chapter 7.
In order to qualify for a Chapter 7 bankruptcy, most families have to pass the "means test". In very simple terms, the "means test" takes a family's "net" income and measures it against established guidelines. Those guidelines become tougher beginning November 15, 2013.
If you are single, the new median family income is $47,798. It used to be $48,415. A family of 2 is allowed $62,009. It was $63,030. A family of three is $66,618. It was $67,401. A family of four is now allowed $75,111. It used to be $75,656. If you have a larger family, add $8,100 for each member in excess of 4. You can view the guideline table at the United States Department of Justice's website:http://www.justice.gov/ust/eo/bapcpa/meanstesting.htm
If you are contemplating filing Chapter 7 bankruptcy and you are close to these means test numbers, it would be wise to file Chapter 7 before November 15, 2013.
The new "means test" data changes frequently. These numbers should be good until April 15, 2014.
Photo Credit: http://www.flickr.com/photos/nathanf/
Updated daily, this blog will keep you informed on the latest bankruptcy news! 
Learn more about how Bankruptcy works and what you need to know.