How to Choose a Chapter 13 Lawyer

Hiring the right Chapter 13 lawyer for your bankruptcy is an important step in getting your financial life back together. Due to the current economic slump in the U.S. and globally, many individuals are having a hard time making ends meet. Housing and job woes are just a couple of the issues plaguing people around the world. Many responsible and hard working citizens are finding themselves in a predicament that they never would’ve imagined a few years back. They may feel depressed, ashamed and anxious. Their relationships and health may be suffering from the weight of their money troubles. Rarely are people elated to find themselves with no other choice but to declare bankruptcy. It’s a difficult time in one’s life, emotionally as well economically. Finding the best attorney to guide one through the legal steps can streamline the process. Here are some things to think about:

- Specializes in bankruptcies: It’s important to find an attorney who specializes in helping his or her clients maneuver their ways out of red ink. Hiring a general lawyer who practices a bit in every arena of the law will not be as satisfactory. The law practices who make it their business to become experts regarding Chapter 13, 7, 11, as well as strategic defaults and other economic hardship resolutions will be the ones to hire.


- Reputation: It’s helpful to get some word-of-mouth references before setting up the initial consultation. So many people are in this situation these days, getting a referral from a friend or family member shouldn’t be too difficult.

- Experienced: The more experience an attorney has in this arena, the better. Bankruptcies are complicated and each one is unique. The more cases a lawyer has dealt with, the more knowledge and savvy he or she will be able to provide.

- Local: Hiring a local law firm to handle a case is a wiser step than a national chain that advertises on daytime television. Those big firms may have the bucks to spend on advertising, but they may not be able to provide the support of a neighbor or community member. Besides, keeping one’s money in one’s own community will keep hometown budgets more vibrant during this tough time for municipal budgeting. A local professional will spend the dollars he or she makes in legal fees in the town shops, will pay local taxes to support the public libraries and school systems.

- Sensitive: While many who are hiring an attorney might not consider sensitivity when hiring a legal representative, it is important. In emotionally wrought cases such as bankruptcies, the trait of sensitivity is imperative. Even the toughest person will be put through the emotional wringer when throwing in his or her financial towel. Having a lawyer who understands this will truly be a relief.

- Takes installment payments: It’s helpful to find a law practice who will allow clients to pay their legal fees over a period of months. Many individuals who are facing Chapter 13 are strapped for cash. Having a bit of flexibility with the repayment schedule can help.

Going through a bankruptcy can be stressful. Hiring a Chapter 13 lawyer who specializes in bankruptcies, is reputable, experienced, local, sensitive and flexible with payments can make a big difference.

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Bankruptcy Lawyer: 3 Reasons to Attend a Consultation

f you are about to go bankrupt, and are not sure whether to hire an attorney, there are a few ways to help you decide. The first step should be to get an initial consultation, which most attorneys offer for free. This will help determine whether you are eligible to file, and whether it will help your situation. It will also allow you to choose the best bankruptcy lawyer for you. Before deciding whether to hire one, consider the facts surrounding your case.

If you are thinking about filing chapter 7, you have to ensure your income is below the average for your area. If not, then you have to pass the means test, which means you need to show that you do not have enough income left after expenses to pay back creditors. If you are unsure of how to access and pass the means test, or if you have taken it and do not agree with the results, you should talk to a bankruptcy lawyer. It is important that you file the correct chapter for your situation. Otherwise, you could end up in legal trouble, or you may find that going bankrupt does not help your financial situation the way you thought it would.


Having lots of assets means you should talk to a bankruptcy lawyer, too. This is because you stand to lose a lot if you take this route. By contrast, if you have few assets and do not make much money, filing chapter 7 is probably your best bet, and you may not even need an attorney. For example, if you do not own property or a car, and do not have much money in savings and checking accounts, then the court cannot take much from you when you file. However, if you have at least one property, one or more cars, and cash stashed in several accounts, you will need the help of an attorney to figure out what you stand to lose.

Not every bill is wiped out when you file. For instance, student loans, alimony, child support, and back taxes all still need to be paid after filing. Therefore, if these constitute most of your bills that you can no longer afford, you should look at other options. A bankruptcy lawyer can tell you whether your situation would be improved by filing. If it turns out that few of your debts would even by wiped out by bankruptcy, then it does not make sense to take this route, as you would reduce your credit score without the benefit of getting rid of debt. Thus, the advice of an expert may keep you from making a major financial mistake.

Whether or not you suspect you would benefit from this move, you should talk to a lawyer. Getting a consultation enables you to see the pros and cons of filing. If it turns out that you should take this route, you can find out more, such as which chapter is best for you, and what you stand to lose. If it turns out that your case is rather straightforward, you may find out you do not need legal help, though this outcome is rare

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Brits Avoid Summer Holidays Due To Debts

With rising debt problems and the current recession taking its toll on Britain, people are avoiding their normal luxuries in order to prepare for the worst and to counteract any financial difficulty or debt worry that they are currently suffering.
This year over seventeen million people are giving up their normal annual luxury of a summer holiday. This is 2.7 million higher than this time in 2008. The rising prices of fuel and energy and many people suffering from redundancies and pay cuts, mean that their normal luxury of a family holiday has had to be sacrificed in order for people to continue living their normal lifestyles.
It is quite common for people to actually avoid going abroad and resorting to a “staycation” here in the UK, this way people can spend less and actually still have a break away, but a little closer to home to avoid paying for flights, extra expensive surcharges which are often added and of course the poor exchange rates, particularly for the dollar and the euro, which are making holidays even more expensive.
Those people that are going on holiday have said that they are planning on cutting their holiday budget this year and are more likely to take less spending money, book last minute deals or book a destination that is short haul as opposed to long haul in order to save money.
It has become more common as the cost of living is rising and people’s incomes are remaining the same or being reduced, that people will actually take shorter breaks or even resort to having weekend breaks instead of one week or two week breaks.


There is also evidence that a large number of people used to pay for holidays by using credit cards and then pay the holiday off after the holiday itself, whereas nowadays, with increasing worry about debt and the rising cost of living, people are much more conscious about their decisions to get into more debt, and they are actually preferring to use the method of saving up before they book or go on holiday, in order to ensure that they don’t get into even more debt.
Debts can be an issue for many people, and may cause stresses and strains in a person’s personal life. A holiday can be a great stress reliever and can benefit a person from a health perspective in terms of taking time off from their normal every day routine and taking time to reflect and relax. So it is unfortunate that so many people are choosing to forego their annual holiday in order to better cope with their debts.
It is not just the holiday booking aspect of people’s spending that is being reduced, in the first quarter of 2011 household expenditure actually reduced by 0.6 percent. It seems that many people are severely feeling the pinch and are doing whatever is necessary in order to reduce unnecessary expenditure.
If you are in debt or have debt worries, it may be worth seeking debt advice from a trained professional. The Cert DR qualification is the only professional vocational qualification that can be taken in the debt industry, so it is important to choose a debt company that have Cert DR qualified staff.
You can visit Debt Release Direct for debt help and advice on IVAs, debt management and bankruptcy.

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Why You Need a Bankruptcy Lawyer

Money troubles can affect anyone at any point in their life and with the current state of the economy, it has been an incredibly tough time financially for many people. If you are having a hard time paying all of your bills and you see no end in sight, contact a bankruptcy lawyer in Chicago to give you your financial options and to advise you on the best route for your individual situation.
A bankruptcy lawyer will explain the many nuances in bankruptcy law and will help you navigate the fine print to choose the path that is best for you. There are two basic types of bankruptcy proceedings, Chapter 7 and Chapter 13. A bankruptcy lawyer will explain to you how these proceedings work. Here is an overview of the two types of bankruptcy:

• Chapter 7: This proceeding wipes all of your debt completely away. It is the legal way to declare that you cannot pay back any of your debt. You must meet specific requirements regarding how much your debt is relative to your income and your bankruptcy lawyer in Chicago can help you to determine if you meet these parameters.

After you have filed for Chapter 7 bankruptcy protection, a protective order will be issued which will keep creditors from harassing you with phone calls, sending you collection letters, filing lawsuits against you and foreclosing on your home. This type of bankruptcy will allow you to wipe your slate clean and start over.

• Chapter 13: This proceeding is a way for you to pay back your debts by combining them into one and lowering the payments. A bankruptcy lawyer will assist you in determining if this is the right option for you. This type of bankruptcy is for people who have some form of income so that they are able to make payments. A Chapter 13 bankruptcy trustee will oversee your debts and payments, enabling you to make one payment monthly to cover all of your debts. A bankruptcy lawyer can further explain the details of this proceeding.

You do not have to suffer any longer while you struggle to pay your mounting debts. Contact a bankruptcy lawyer in Chicago who can help you to understand all of your options and reduce your debt so that you can live a happy, productive life. Many view bankruptcy as some sort of personal failure, but as any bankruptcy lawyer in Chicago will explain to you, it is actually a way to give yourself freedom and start over. Asking for help is not failing; it is taking initiative to fix your current financial state.

Bankruptcy Lawyer & Attorney in Chicago Illinois. Loopbankruptcy.com is a Bankruptcy law firm in Chicago that works for debt settlement or debt relief in Waukegan, Skokie and other cites of Illinois. Are you considering filing for bankruptcy? Call 866.525.3529 for a free consultation with a Bankruptcy Lawyer Attorney or at Lakelaw - Loop Bankruptcy in Chicago, Illinois.

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Chapter 13 Bankruptcy: Eight Important Facts

Are you struggling with debt? Filing for bankruptcy may help you get your finances back on track! Chapter 13 will allow you to establish a plan to pay off your debts over a period of 3 to 5 years. Another benefit of this chapter is that it may lower your monthly payments. Here are 8 important facts about Chapter 13.

Will I Lose my House if I File for Bankruptcy?

Do you want to avoid losing your precious home? If you own a home, Chapter 13 will help you save it from foreclosure. However, if your mortgage provider ends up finishing the foreclosure sale before you file a petition, you may lose your house. You can also lose your house if you don’t make your mortgage payments that become due after you file for bankruptcy.

Will I Have to Attend any Meetings?

After you file a petition, your trustee will set up a meeting with you and your collectors.Your collectors and the trustee will talk with you at the meeting and ask questions about the plan and your financial situation.


Does my Plan Require Approval by the Court?

Your plan must be approved by the court. Within 45 days after the meeting, the judge will hold a hearing and decide whether your debt repayment plan meets the standards for confirmation set forth in the Bankruptcy Code. Keep in mind that your collectors will have a chance to object to the confirmation.

Where do I Send my Plan Playments?

This chapter acts like a debt consolidation loan under which a debtor makes the payments to a court appointed trustee. The trustee then distributes the payments to the debtor’s collectors. Within thirty days after filing for Chapter 13, you must begin sending payments to your trustee. You will have to make payments on a regular basis, usually bi-weekly or monthly.

What Happens if I Fail to Make my Plan Payments?

Make sure you make all the payments to your trustee. If you don’t make your plan payments, the judge may dismiss your case or convert it to a Chapter 7 case. The judge may also convert or dismiss your case if you don’t pay any domestic support obligations that are due after you file for bankruptcy such as alimony or child support.

Will Filing a Petition Stop Collection Actions?

Are your collectors harassing you? Filing under this chapter puts an end to most collection actions against you. After you file a petition, your collectors will not be able to empty your bank account, garnish your wages, initiate or continue lawsuits, or call you and demand money. If you file for this chapter, you will not have any direct contact with your collectors.

Find a Bankruptcy Attorney Today

Only you can decide if filing for Chapter 13 bankruptcy is worth it for you. If you decide to go for it, make sure you hire a qualified bankruptcy attorney. Bankruptcy is a complicated process. An experienced lawyer who knows the laws is absolutely necessary if you want to be successful!

When it comes to filing for Chapter 13 Austin residents may be confused, intimidated or even not know where to go. Fortunately, knowledgeable professionals exist in the area to help. Learn more at http://www.bankruptcyattorneyofaustin.com/.

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Chapter 13 Bankruptcy Is A Viable Way To Eliminate Debt

In today’s society, almost every aspect of living requires money. Nothing is free. And many of the things you spend money on are continuous expenses, meaning you must pay for them monthly, weekly, or even daily. In order to do so, you not only must have a continuous source of income, but that income must be enough to cover your expenses. Due to the unfortunate condition of the United States economy, there are many people struggling to make a living. Finding a job is difficult, and finding one that pays well is even harder. When your expenses are overwhelming and your income is not enough, you may find yourself contemplating bankruptcy.

There are many different ways to file bankruptcy, each identified by the Chapter of the Federal Bankruptcy Act that describes it. Some chapters are better for people with no income, while others are best for employed individuals. Chapter 13 is suitable for someone who would like the opportunity to repay at least some debts under better circumstances, such as lower interest rates. This means it is best for a person with a steady income. The person’s debts are restructured, and a repayment plan is created. This allows the debtor to use his or her future income to repay debts.


The repayment plan thoroughly describes the details and schedule of payments. Under the U.S. Bankruptcy Code, the debtor has a limit of 5 years to pay off creditors. Depending on the circumstances and amount of debt, some people may not even need the full 5 years to complete a repayment plan. Sometimes, the debt settlement can be scheduled for only 3 years. A good bankruptcy lawyer can protect your interests in these filings, ensuring favorable terms and conditions for the repayment plan. The creditors do not have control over this process, and plan approval is given by the court-even if creditors disagree with it.

Chapter 13 is one of the most common types and has many advantages over some other chapters of bankruptcy. One of the biggest pros is that you are allowed to keep all of your property. Other types, such as Chapter 7, require you to surrender some assets to pay off creditors. Another advantage is that you are fully discharged from the plan once you have completed all of the necessary payments. Additionally, you may file Chapter 13 at any time, even if you have filed before. Under Chapter 7, you cannot file again for 6 years after the process is completed.

If you determine that bankruptcy is your best option, your first step is to consult an experienced attorney. He or she will inform you of all criteria for filing and help you decide whether Chapter 13 is right for you. You will need to prepare a budget that will allow you to adhere to the repayment schedule. The attorney will also help you deal with creditors and devise the plan. The biggest requirement for this type of bankruptcy is that you have a reliable and steady source of income. For example, if you only have part time work with fluctuating hours from week to week, you probably cannot commit to a strict payment plan. Your attorney can help you find the option that is most suitable for your circumstances.

In Fairfax Chapter 13 has helped countless local residents get their feet back under them again and see the light at the end of the tunnel of debt. Find out more at http://www.msandlerlaw.com/.

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How to Avoid the Bankruptcy Lawyer

There are times when all cards have been played and there’s nothing left to do except call in the bankruptcy lawyer. Wiping the slate clean can be a way to start over after devastating financial blows. There are steps to take beforehand to keep one’s financial life in the black. Here are some things to think about.

- Don’t count chickens before they’re hatched: Many individuals get into trouble with their checkbooks by counting on money that hasn’t yet been paid to them. This may include end of the year bonuses, the annual pay raise, selling one’s house and planning to make X amount of money. While this money may hit one’s bank account as planned, there’s also a chance that something could go awry. The boss may come to the end of the year holiday party and make the announcement that there won’t be bonuses after all. At one’s annual review, the supervisor may give the bad news about pay freezes. One’s house may not sell for the price that it was expected to draw. If a person has banked on the money which hasn’t arrived and spent it ahead of time, this could lead to big trouble. Don’t count chickens before they’re hatched.


- Save for a rainy day: Automatic depositing into a savings account on payday will be a way of saving cash before it’s even available. If an individual has a rainy day fund, when the car breaks down or there’s a layoff at work, there will be a cushion. Living without an emergency fund is like walking the tightrope without a net.

- Live below one’s means: The American way is to strive for bigger and better. That’s one of the reasons the whole country is scrambling. In order to play it safe and alleviate a whole lot of economic stress, it’s wise to live below one’s means. A smaller house, a less expensive vacation, sharing a car with one’s spouse, buying resale items – these are all ways to live below one’s means and still be comfy.

- Cook at home: Restaurant meals add up quickly. In fact, the price of one dinner out at a fancy restaurant could pretty much feed a couple of people for a week. Home cooking is healthier, too. Buying the freshest produce at the farmers’ market, looking for the leanest meats or firmest tofu at the grocery store and trying new recipes will be good for one’s physique and wallet.

- Cut up the plastic: If a person has to rely on plastic to live, it’s only a matter of time before the walls come tumbling down. Before becoming dependent on a rectangle of plastic, cut costs wherever possible. If you can’t afford something today, you won’t be able to afford it tomorrow with interest added on. Don’t fall for the credit card companies’ hype.

If a person does hit the financial wall even after trying their best to dig out or stay out of debt, contacting the bankruptcy lawyer will be a good plan. Letting one’s health and relationships suffer due to stressful money trouble is not worth it.

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