Your bankruptcy filing is a very big decision to make . While it can undoubtedly help you get a fresh start on your financial future, it also stays on your credit record for at least seven years. Consequently, it can make it very tough to obtain credit lines after your bankruptcy filing.
But, if you are overcome in dealing with creditors it may be your best option. Chances are if you are filing for bankruptcy you have been receiving letters and phone calls from creditors reminding you that you owe their clients money. After you file for bankruptcy and have given over the names and addresses of your creditors to the bankruptcy lawyer, you don’t need any kind of long drawn-out information for the credit card companies or collection agency representatives. The bankruptcy attorney will take care of everything after you file.
Usually, as soon as you seek bankruptcy relief, before the petition is filed and before creditors have obtained notification, when a creditor calls you can politely let them know that you have begun bankruptcy proceedings. You can provide them the name and phone number of your lawyer, but you do not have to answer other questions they could have. The truth is, if you've chosen a personal bankruptcy attorney, it is their job to take care of these items for you.
Keep in mind, debt collectors will tell you all kinds of insane stories hoping to get money from you because they have more often than not bought the unpaid debt from the lender. Since they now own that debt, if they cannot collect, they lose cash. It is likely they have purchased your debt for about half of what you owe and may possibly make you an offer to settle your debt for less than you earlier owed and if they're successful, you should have that debt taken off individual bankruptcy, but that is ordinarily not beneficial for you.
When you're approved for individual bankruptcy, all unsecured debts will be wiped off throughout the process, if you do not file for Chapter 13. Your best bet is always to simply and pleasantly tell them about the individual bankruptcy and offer the contact name and number of your attorney before speedily ending the discussion.
It's also wise to keep a record of your contacts with your collectors in case they continue to call you after being informed of your impending bankruptcy. Once they have this information, they should stop calling. But if they continue, it is usually considered harassment, which can be illegal. Consequently, make sure you chat with your law firm if your creditors continue to call you even after they have your attorney's information for contacting them about the issue.
But, if you are overcome in dealing with creditors it may be your best option. Chances are if you are filing for bankruptcy you have been receiving letters and phone calls from creditors reminding you that you owe their clients money. After you file for bankruptcy and have given over the names and addresses of your creditors to the bankruptcy lawyer, you don’t need any kind of long drawn-out information for the credit card companies or collection agency representatives. The bankruptcy attorney will take care of everything after you file.
Usually, as soon as you seek bankruptcy relief, before the petition is filed and before creditors have obtained notification, when a creditor calls you can politely let them know that you have begun bankruptcy proceedings. You can provide them the name and phone number of your lawyer, but you do not have to answer other questions they could have. The truth is, if you've chosen a personal bankruptcy attorney, it is their job to take care of these items for you.
Keep in mind, debt collectors will tell you all kinds of insane stories hoping to get money from you because they have more often than not bought the unpaid debt from the lender. Since they now own that debt, if they cannot collect, they lose cash. It is likely they have purchased your debt for about half of what you owe and may possibly make you an offer to settle your debt for less than you earlier owed and if they're successful, you should have that debt taken off individual bankruptcy, but that is ordinarily not beneficial for you.
When you're approved for individual bankruptcy, all unsecured debts will be wiped off throughout the process, if you do not file for Chapter 13. Your best bet is always to simply and pleasantly tell them about the individual bankruptcy and offer the contact name and number of your attorney before speedily ending the discussion.
It's also wise to keep a record of your contacts with your collectors in case they continue to call you after being informed of your impending bankruptcy. Once they have this information, they should stop calling. But if they continue, it is usually considered harassment, which can be illegal. Consequently, make sure you chat with your law firm if your creditors continue to call you even after they have your attorney's information for contacting them about the issue.
The Oregon bankruptcy attorneys of Northwest Debt Relief Law Firm are committed to helping people throughout both Oregon and Washington get out of debt, including, where appropriate, filing petitions for relief in the United States Bankruptcy Courts. Whether chapter 7 bankruptcy or Chapter 13 is right for you, Northwest Debt Relief Law Firm can help you get a fresh start and get your personal finances back on track.
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