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Tuesday, November 22, 2011
Thursday, September 29, 2011
The Truth About Car Repossessions And Bankruptcy
Are you avoiding the repo man? Are you still receiving harassing phone calls even after you turn the car back in? We can help!
If you have fallen behind on your car or truck payments, filing bankruptcy can help! One of bankruptcy’s most powerful tools is the fact it can start to work right away. Its “automatic stay” can stop the repo man immediately. Once a bankruptcy has been filed, it is very difficult for the finance company to repossess your car or truck. WE CAN SLOW DOWN THE PROCESS OR EVEN STOP IT ENTIRELY. Bankruptcy may even help you get your car back after it has been recently repossessed, but you must act fast.
In some cases, a good bankruptcy attorney can spread your past due auto payments over 36 or 60 months without further penalties or interest in a Chapter 13 bankruptcy reorganization plan. In other cases, we may be able to reduce the TOTAL amount you owe on the vehicle. THAT MEANS THAT instead of paying THE $15,000.00 you owe on the car, you only have to pay the $9,000.00 that it is currently worth and we can work at putting you into a comfortable payment plan. The sooner you see us, the more options you may have. Before your car gets repossessed is when you have most power over the banks, and we can help you the most.
On the other hand, sometimes it’s not worth keeping a car. MAYBE you can’t afford the payments or the car is just not worth what you owe. In many bankruptcy cases, we simply include the money you owe on your car in with your other debts and wipe it out in the bankruptcy. No more stress for you and no dealing WITH the repo guy!
Some people think that once their car or truck has been repossessed, they no longer owe any money. The bank got the car back and the debt should be gone. WRONG! That is not how it works. Once your car has been repossessed, it will be sold at auction. If it sells for less than what you owe (which it nearly always does) the bank will come after you for the difference. They can start the harassing calls again, file a lawsuit and even garnish your wages. You might be able to avoid all this from happening.
If your car has been repossessed or is in danger of being repossessed call us NOW for a free no obligation consultation at 305-663-3281. The sooner you do, the sooner we can discuss your options, the sooner we could find a solution for your problems and the sooner you will feel relief.
Thursday, September 22, 2011
The Truth About Credit Cards and Bankruptcy
We can help!
How to tell if your credit card debt is out of control
Can you answer yes to two or more of the following questions?
• Have you maxed out more than one credit card?
• You don’t know how much debt you have?
• Are you flipping debt from one credit card to another?
• Do you leave your monthly credit card statement unopened?
• Are you struggling to pay the minimums on your credit cards trying to preserve an inflated credit score, hoping for better days ahead?
If you answered yes to two or more of these questions, you should talk to one of our experienced bankruptcy attorneys. The best way is to set up a free no obligation consultation by calling us at 305-663-3281. What is more important your family or your American Express?
Credit cards post-bankruptcy
One of the common myths regarding bankruptcy is that you won’t get new credit. Not true! In fact, many of our clients get credit card offers within 3 months of their bankruptcy discharge. True, these are small $500 limit cards with ugly interest rates, but they may be the key to rebuilding your credit. Post-bankruptcy discharge all your unsecured debts are wiped out. Unburdened by existing debt, and with your current income, you actually become a fairly attractive candidate for new debt. Use these new cards heavily, but responsibly (PAY THE TOTAL BALANCE EVERY MONTH OR DON’T USE) - they can be the key to reestablishing your credit history and getting a 700+ credit score within 2 to 3 years. Some of clients have been able to finance cars at a decent rate with 12 months of the bankruptcy discharge and purchase a house within 24 months. The key is to use new credit heavily, but to run no balances month to month. You can do it!
To find out more set up a free no obligation consultation by calling us at 305-663-3281.
Wednesday, September 14, 2011
Stop Bill Collectors from Calling
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| Image via Inquisitr.com |
Are bill collector calls driving you crazy? We can stop the calls now!
Do strange phone numbers call your mobile phone and home phone through all hours of the night? Are you getting letters from law firms threatening to garnish your wages, seize your bank accounts, repossess your car or put a lien on your house? Is the stress of unpaid bills affecting your family and work life? Want it to stop? We can help!
Bill collectors are relentless-they will stop at nothing. It is the job of the bill collector to make you upset, threaten you and never give up-all to get you to pay bills with money that you don’t have. Fortunately, there is a solution.
The U.S. Federal Bankruptcy Laws are designed to give you a fresh start. They can stop the bill collectors now. All you have to do is let us help you!
Once your creditors know that you have hired the Bankruptcy Law Clinic as your attorney, we will deal with the creditors directly and make sure the calls stop. Did you know that you can sue creditors if they call after they have been made aware that you hired an attorney? Under both Federal laws and the Florida Fair Debt Collection Practices Act, we will make sure they stop calling you! Really!!
After you file bankruptcy, it is illegal for bill collectors to continue any collection efforts. Once your Chapter 7 bankruptcy has been successfully completed, those debts are wiped out forever. No matter if you land a great new job or win the lottery, your old creditors can never come after you. It’s the fresh start you’ve have been waiting for and we can help you get it!
“Since I filed…I feel like a weight has been lifted off my shoulders”.
“You guys walked me through any problems I had. I would recommend you to anybody found in my situation”.
These are just a couple of quotes from some of our many clients that are now enjoying a debt free future.
The first step is easy. All you have to do is call us at 305-663-3281 to schedule your free initial consultation. We have an office near you. Come and enjoy a no obligation meeting that could be your first step to a bright future. Unlike many other law firms, we guarantee that you will meet with an attorney to discuss your unique situation and find the option that is best suited for you. We at the Bankruptcy Law Clinic are dedicated to find the solution for you and your family. Call (305) 663-3281 now.
Friday, September 9, 2011
Thursday, September 8, 2011
More Bankruptcy Mistakes
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| Image via Rookiepastor.com |
1. Transferring property out of your name
A bankruptcy trustee (the person who reviews bankruptcy cases) can reverse a transfer of property that previously belonged to you if the transfer was made within the last four years with the intent to delay or defraud a creditor. They can even do it even if simply a fair price was not received. Don’t be cute!
2. Line of credit/second mortgage to pay off credit cards
Don’t take a loan against your real estate in an effort to reduce the equity to pay off your debts. You can often file bankruptcy and not lose this valuable asset. If you take out a second mortgage to pay credit card debt, you may be putting your house at risk.
3. Failing to appear in court
You can’t avoid a lawsuit simply because you’ve decided to file bankruptcy. A collection case continues until your bankruptcy case is actually filed, which occurs only after the fees have been paid and you have provided your attorney with ALL the information needed. Retaining an attorney to file bankruptcy is an important first step, but it isn’t the end!
You can’t avoid a lawsuit simply because you’ve decided to file bankruptcy. A collection case continues until your bankruptcy case is actually filed, which occurs only after the fees have been paid and you have provided your attorney with ALL the information needed. Retaining an attorney to file bankruptcy is an important first step, but it isn’t the end!
Thursday, September 1, 2011
Wednesday, August 31, 2011
Some of the more common bankrutpcy mistakes
Yes, I know he's the godfather to your children, but the law prohibits you from treating family better than your other creditors. In fact, a bankruptcy trustee can reclaim (go after) any amount repaid to a family member within one year of filing bankruptcy. [c1]
2. The credit card run up mistake
Running up your cards once you decide to file...Charges for luxury goods and services owed to a single creditor, totaling to more than $500 within 90 days of filing, are usally not covered under a bankruptcy and you will have to pay them. Ditto on cash advances totaling more than $750 for all creditors within70 days of filing. Don't jeopardize your fresh start by running up your credit cards.
3. Using retirement $$$ to pay debts
You worked hard to save in that 401k don't drain their retirement accounts in a futile attempt to pay down credit card debt! Retirement accounts are generally protected (you get to keep them) when you file bankruptcy.
Friday, August 26, 2011
Thursday, August 25, 2011
Rebuilding Your Credit
Once your bankruptcy has been discharged; rebuilding your credit begins immediately. After the bankruptcy, be sure and pay any continuing obligations, such as a car payment or rent on time. Being on time on each of your commitments is the surest way to raise your credit score as quickly as possible.
Within three months of your case being completed you should apply for a new credit card. Either approach your bank or apply on www.creditcards.com for a low limit MasterCard or Visa. Expect to pay a hefty annual fee, but it is worth it. You will immediately raise your credit score if you make your payments on time and pay in full. Be smart, use the cards for purchases you need, not just want and make sure to set the money aside in advance to be able to pay the bill. Remember, the card is not just a “credit card” it is a credit TOOL.
After a few months with the low balance card, you will be solicited for other credit cards with higher limits and lower annual fees. You should accept one of these cards, but please be smart. Don’t use the cards for items you can’t afford. Remember, this is a tool to rebuild your credit. You should have the money available to for each purchase you make. Don’t let the credit card company charge you interest, pay each bill in full and always on time.
After a few months with the second credit card, your score should be climbing to the mid-600’s. This is when you can consider using newly strengthened credit to purchase bigger ticket items, such as a car. Speak with a lender before you go to the dealership. Know how much credit you have and how much of a down payment will be necessary. Remember, this too is a tool to rebuild your credit.
This simple plan is a 18-month post bankruptcy credit repair program. I have had thousands of clients succeed using these steps. A 700 credit score is between 1 ½ to 2 years away for most of my bankruptcy clients. Get started by eliminating your debt and eliminating your stress. Bankruptcy is the ultimate financial stress reliever.
To learn more how to rebuild your credit post bankruptcy, or to learn how filing bankruptcy can let you improve your credit score quickly, call (305) 663-3281 now.
Friday, August 12, 2011
Wednesday, August 10, 2011
What is Bankruptcy?
Chapter 7 bankruptcy is often called the "Fresh Start" bankruptcy. Individuals are generally discharged of many types of unsecured debts such as credit cards, personal loans, medical bills and some judgments. Filing a Chapter 7 bankruptcy immediately stops your creditors from trying to collect. As a result, creditors cannot garnish your wages, empty your bank account, or go after your car, your house, and your personal belongings.
In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property. Each state has its own set of exemptions and our qualified bankruptcy attorneys will be able to outline the type of property that is exempt from liquidation in a Chapter 7.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is significantly different from a Chapter 7 bankruptcy. A Chapter 13 is a reorganization of debt, allowing debtors to repay all or a portion of their debts through a Chapter 13 plan, while protecting property and personal assets. The concept is similar to debt consolidation, but unlike most debt consolidation programs, it permits debtors to pay unsecured debt (i.e., a debt that is not secured by property) down without accruing interest (student loans are an exception) and without having to deal with those annoying calls from debt collectors.
Under a typical plan, you make monthly payments to a court-appointed bankruptcy trustee for generally three to five years. The amount of your monthly payment is determined by several factors, such as the amount of debt you have, your ability to repay and the extent that you have assets.
The bankruptcy trustee distributes the money to your creditors.
Contact us now at 305-663-3281 for free consultation.
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