Nov
4
Tom Moss inquired:
The decision to file bankruptcy is a serious decision but it is a decision that can give you a fresh start if there is no other way out. Bankruptcy is a legal way to discharge unsecured debt that can provide an overwhelmed debtor with a new beginning. It may be possible to keep your present home and your car after filing bankruptcy. A law firm such as the Malaise Law Firm, with attorneys skilled in San Antonio bankruptcy law can help you decide if bankruptcy is the correct decision for your particular situation. If the decision is made to file bankruptcy, they will explain to you the pros and cons of the two types of bankruptcy available to individuals, Chapter 7 and Chapter 13.
Chapter 7 is what most people usually think of as bankruptcy. In Chapter 7 bankruptcy, a debtor’s non-exempt assets are liquidated or sold with the proceeds used to pay toward unsecured debts such as credit cards, loans, and medical bills. In the majority of bankruptcy cases people do not lose any property and the unsecured creditors get nothing. Several months after filing bankruptcy the unsecured debts are discharged and the creditors can never collect on the debt. A secured creditor may still enforce a lien to recover property secured by the lien.
Chapter 13 is a debt reorganization or consolidation bankruptcy. If a debtor has regular monthly income, their debts including mortgage arrears, car payments, credit card bills, medical bills, loans, student loans, etc. are combined into one low monthly payment. Since the debtor is paying back their creditors through a repayment plan, the debtor does not risk losing their assets as they may under Chapter 7 bankruptcy laws. During the repayment plan creditors are prevented from contacting the debtor without first going through the debtor’s bankruptcy attorney and the court.
Millions of people declared bankruptcy in 2007 to get the fresh start they needed. Contrary to popular belief, your credit is not permanently damaged and it is still possible to get credit after filing bankruptcy. At the Malaise Law Firm, our San Antonio bankruptcy attorneys have over 40 years experience helping people file bankruptcy, with two board certified attorneys. We put our emphasis on helping our clients do what is in their best interest and our clients needs always come first.
The Malaise Law Firm serves the residents of San Antonio, Houston, Dallas, Fort Worth, Corpus Christi, Harlingen, Brownsville, and McAllen, Texas with all of their legal needs including bankruptcy. If you would like to see what we can do to help you please contact The Malaise Law firm today at www.malaiselawfirm.com/contactus or call 1-800-BANKRUPT for immediate assistance.
Jun
29
Ideas to Help in Overcoming Bankruptcy
Filed Under General | Leave a Comment
Sharon Godfrey inquired:
Overcoming bankruptcy is hard, but is possible and doable. Self-motivation can help a lot in the person’s struggle to get back on track.
Loss of money, loss of self-esteem
Overcoming bankruptcy is a hard thing for some people to do. For some businessmen, going bankrupt is like the end of the world. They cease to be productive and they allow themselves to be confined in the situation where their dilemma has left them. They go on with life with out money, with out properties and worst of all; they go on with life without the self-esteem that they used to possess in abundance.
There’s more to life even amidst financial difficulties
There is still a life after bankruptcy. People should not allow such situation to get the better of them. So what if you failed? Life is really a trial and error. There is no guaranteed formula for success. There are ways that we can observe in order to succeed but they are not guaranteed. Such ways may be very effective for other people, but they may not have the same impact for others. This is because people do not have exactly the same circumstances in life. We always need to be open minded. Be flexible and leave room for adjustments.
Overcoming bankruptcy may be hard but it is possible. There are ways on how we can recover ourselves from such dilemma. While there are many people who are not able to recover from bankruptcy, it is important to note that many millionaires today experienced bankruptcy in their lives also. The important thing to remember is that you have to motivate yourself to recover.
Give Yourself Time to Recover
So you went bankrupt and you are hurt. You need time to mend your broken heart and your broken ego. It is only natural. If you fall, you will naturally get hurt and some of the injuries that you sustained need time for healing. You can not very well expect an injured person to get up and act as if nothing happened when he is badly wounded. It is the same with people that went bankrupt. You can not expect them to recover so soon. Allow yourself enough time to recover.
Remember that You still have the Best Asset
If you are a person who struggled hard to earn what you have and then you went bankrupt, overcoming bankruptcy should not be that hard for you. Remember that you still have the best of all the assets that you once possess. This very important asset that was left to you is the one thing that no other people can take away. Even if banks took away all that you have earned, they cannot take away your capability to recover. It is you and your talents alone that made the business successful in the first place. After you have given yourself some time to think, start rebuilding your business. It does not matter if you have to start from scratch. The important thing is that you are able to start again. Take the lessons of the past with you, try again and be successful.
The most important idea that can help you in overcoming bankruptcy is being open minded. Take away self pity. Assess the situation and never allow yourself to be taken by the fall. Motivate your self.
May
8
CC inquired:
I am helping a family member get her life back on track. It looks like her best option may be bankruptcy.
If there is an unsecured, unpaid federal tax lien on her credit, will it be removed when she declares bankrupcy, or is it on there forever (unless she pays it)? I do not know how the situation came about, but the liens were placed against a home that was sold 10 years ago.
Mar
15
Is there a car dealership in Seattle that helps people get cars that have a Ch.13 bankruptcy and bad credit?
Filed Under General | 3 Comments
my dear friend really needs new car but still has a year left on his failure Ch.13, its sign accreditation? under 500, has a trade than not? in better shape and no money already?. . is not l? the place in Seattle / surrounding areas that will help him get a car used?
Feb
14
Can you become a police officer with bad credit or bankruptcy on your credit report?
Filed Under General | 5 Comments
An officer so am seriously considering filing bankruptcy have bad credit will be finding job around early january anyway currently have bad credit will be done in december.
An officer so am going to get job as new and your credit will be taking the best way to get job around months and thus hopefully ill be as police.