Considering Bankruptcy? Relax, The Consequences Are Bearable

For homeowners filing for bankruptcy for the first time, the three biggest fears are the lifestyle changes that will affect their lives, the idea of having wages garnished and the fear of losing their home. The most common reason individuals file for bankruptcy is to keep their home from being foreclosed on or to break even on a business venture gone wrong. If you hope to lessen the debt collected from a bad business venture or save your home from being foreclosed on, you need to hire yourself an attorney.

The Effects of Bankruptcy

Yes, any class of bankruptcy will bring about ramifications, and some will be tiny while others will be a bit more significant for some families, but they are all worth eliminating the stress that comes with debt. For most, small effects will be seen, such as the difficulty encountered in purchasing a car or loan. Other major results caused by bankruptcy will appear when seeking to apply for a federal or private job, as most employers will carry out credit checks.

If your Chapter 13 or Chapter 7 bankruptcy case is discharged, the blemish will pop up on your credit report for only 10 years. However, if your case is dismissed, the mark will stay on your history for seven years for Chapter 13 and 10 years for Chapter 7.


Garnished Wages

When creditors threaten to garnish your wages, they are aiming to collect a percentage of your annual earnings to help repay the money that you owe them. Each bankruptcy lawyer will do his best to prevent your wages from being garnished so that you can live the same lifestyle you always had, no matter if you have a Woodland Hills bankruptcy attorney or a Pico Rivera lawyer. Not all instances will need your wages to be garnished; every individual’s situation is different, but normally low-income families will not have their wages garnished.

Foreclosure

For most middle-class Americans, their mortgage payment is the largest expense each month besides a car payment and utility bills. The downward spiral in the economy has seen a reduction of hours for most people while others have been laid off altogether, making it harder for people to make that monthly mortgage payment. Before the bank decides to foreclose on a residence, most individuals will file for bankruptcy to help keep a roof over their heads and stop any further harassment from creditors. No matter if you talk to a Thousand Oaks bankruptcy attorney or a Seal Beach lawyer, they both will tell you that it is better to file and keep your home than lose it to the bank.

Rob R. Nichols is a Woodland Hills bankruptcy attorney serving the San Fernando Valley. Nichols is a great Thousand Oaks bankruptcy attorney with fees as low as $895.00.

More about → Considering Bankruptcy? Relax, The Consequences Are Bearable

How to decide if a Bankruptcy Attorney Roseville is Right for You

With the economic climate the way that it is today, most people are opting to file for bankruptcy to try to stay afloat.  Sometimes, there is simply no other way to hang on.  When you find that you can no longer pay your bills on time, whether it is due to medical bills or maybe it is because you owe more than your home is now worth, you may choose to file bankruptcy.
The decision to retain a bankruptcy attorney Roseville, can be very overwhelming and extremely emotional.  The sense of the loss of control that one faces when they have made the decision to file for bankruptcy is made even more difficult with the various choices of bankruptcy attorneys.  Should you choose bankruptcy attorney Roseville, or a Rancho Cordova bankruptcy attorney or perhaps, a bankruptcy attorney Stockton office?  It can be so overwhelming at times.
When you begin to consider bankruptcy, you will want to find out whether the bankruptcy attorney Roseville, the Rancho Cordova attorney or even the bankruptcy attorney Stockton is going to be the right one for you.  You will want to be sure that that attorney that you have chosen is one that specializes in bankruptcy law only.  This will make it an easier process for all parties involved because that attorney is fully concentrated on the laws of filing for bankruptcy.  The laws for filing for bankruptcy are constantly changing and being updated.  So, when it comes time to find a bankruptcy attorney Roseville, or Rancho Cordova bankruptcy attorney, you will want to be sure that you have chosen the right one.  There is a lot that must go into this process.  There are many questions that you must ask yourself.  How long has the attorney been practicing?  Are they fully board certified in the laws of bankruptcy?  Are they specializing in the area of bankruptcy law only?  These and many other questions must be answered before a decision can be made.
The hardest part of the bankruptcy process is being able to find a bankruptcy attorney Roseville that will fight the hardest for you during this process.  Sometimes a Rancho Cordova bankruptcy attorney may be too expensive or perhaps, you would prefer a bankruptcy attorney Stockton, regardless, whether it is a bankruptcy attorney Stockton, a Rancho Cordova attorney, or a Roseville bankruptcy attorney, you will want to make sure that you are comfortable with those that will be handling all of your financial needs during this process.


One of the biggest factors is that of your total debt amount.  If you find that you are upside down in your home or that you owe so much in medical debt that you can’t meet any of your other bills, then maybe bankruptcy is the right thing for you to do.  Then the question becomes, ‘which chapter of bankruptcy should I file for’?  When you begin the process, it is important to interview more than one bankruptcy attorney Roseville before you decide.  This decision should not be made base only on the location of the Roseville bankruptcy attorney, but also on the history of the Rancho Cordova attorney and what their track record is with regard to filing for bankruptcy.  In other words, how successful have they been with the filings?  Are they on-time with the Court deadlines for filing and so many more factors must be considered.
Perhaps you live in or around Roseville, California and you want to hire an attorney that is just down the street from you.  Or, you may consider a Rancho Cordova bankruptcy attorney or a bankruptcy attorney Stockton.  It is in your best interest to contact more than two attorneys.  This allows you to learn whether you should choose a Rancho Cordova bankruptcy attorney or a bankruptcy attorney Stockton.  It is always in your best interest to fully investigate any bankruptcy attorney Stockton.
Attorneys vary from state to State.  For example, in the State of California, bankruptcy attorney Roseville can vary widely from the bankruptcy attorney Stockton, to Rancho Cordova bankruptcy attorney.  The laws governing the filing of bankruptcy are extremely strict. 

Mr. Ranchod has spoken at national legal conferences and the radio (KPFA, F.M.).Our law firm understands the stressful nature of the bankruptcy process and it is our goal to compassionately help you get a fresh start.Financial Freedom Law compassionately helps you get a fresh start by filing for chapter 7 or chapter 13 bankruptcy bankruptcy sacrament, bankruptcy attorney roseville

More about → How to decide if a Bankruptcy Attorney Roseville is Right for You

If You're Facing Eviction From Your Home, It May Be Time To Consider Bankruptcy

Many Americans have been feeling the pinch of the economy’s downturn for years now, and many are facing dire probabilities as the lack of new jobs and devaluation of the real estate market drags on. Lots of people have found themselves out of work and remain unemployed, or else working for peanuts, and because of that, they can’t continue their mortgage payments.

Circumstances offered a bad break to those who were laid off from well-paying jobs, and who then couldn’t find anything else to replace the income they lost or the funds that they would have used to pay their bills. Yet so many people are getting in trouble, despite having worked their entire lives to stay ahead of their bills and build some financial security for themselves and their families.

There are various economic steps that can be taken to help those who have gotten into a financial hole that they never anticipated, and the possible solutions for those in a crisis may be actions that many had never anticipated that they would have to take. People are usually shocked when they contemplate the possibility of declaring bankruptcy, but it’s a method that works for some.

A typical primary reaction to the term “bankruptcy” is usually one of shock or horror, because it’s usually talked of as “hitting bottom” or shirking your responsibilities. Those who elect to file for bankruptcy want nothing more than to get back on track and begin to deal anew with the financial responsibilities that they have incurred.


Sometimes, the circumstances seem to conspire against individuals who want nothing more than to do the right thing, and those times call for sober action that will finally get you from under the debt that’s burying you. It will start to set your mind at ease when you make an appointment with a Thousand Oaks bankruptcy attorney, who can give you the straight facts on where you stand legally and what can be done to help you advance your case.

You’ll right away begin to feel better after you take steps to repair your financial problems, because the pressure that you feel from bill collectors and others who are after you will start to ease up once you file. Oftentimes, the overriding concern of those seriously in debt is the possibility of losing their home, automobile and life’s savings, but filing for bankruptcy protection can help you retain all of those things.

When you file, you will close down the annoying calls from debt collectors who can ring you at all hours. If you’re looking for advice on how to best handle your financial problems, get in touch with a Encino bankruptcy attorney.

That could be the safest action to take, because you’ll start finding answers to your inquiries about bankruptcy law and your rights.

Rob R. Nichols is a Thousand Oaks bankruptcy attorney serving the San Fernando Valley. Nichols is a great Encino bankruptcy attorney with fees as low as $895.00.

More about → If You're Facing Eviction From Your Home, It May Be Time To Consider Bankruptcy

Where United States Bankruptcy Laws Came From And Evolved

Talk of bankruptcy continues to be widespread throughout the whole country, even though it has arguably had a direct impact here in Southern California the most.  With all the advice and news excerpts lately surrounding the economic failure of individuals and businesses, few have given thought to where it comes from and how much worse it would be if everyone lived in a different time.  Knowing where the option to file bankruptcy originated from not only helps individuals appreciate their options more, but also explains why the proceedings are held the way they are today.

Rome is the place where the first bankruptcy law began.  For a long time bankruptcy was declared by lenders rather than the individual that owed, calling on the government to punish them since they either were not able or refused to pay them back.  Even though it sounds somewhat mean to do this to individuals, they were moving away from punishing individuals by way of harm or other forceful practices that were common before.  On account of the cooperation between lenders and the government, people became significantly less likely to go into a debt they could not repay.


England's bankruptcy laws were put to use as the basis for the laws built with the establishment of the first 13 colonies.  Depending on past experiences with this law, companies could take back the goods that money was owed on and sometimes put the person in jail as well.  Based totally upon the situation, companies would typically let people stay free and reverse the debt by confiscating the item and selling it off.  The laws very slowly progressed until about 1898, largely due to the fact that each state had their own independent bankruptcy law.  Since companies went from being a source for loans to trying to put individuals in debt, the shift in law put a lot more focus on the credit debt companies.  This change was the greatest concept alteration of the way bankruptcy law was created from there until now.

Attorneys currently play a huge role in bankruptcy cases.  Since attorneys usually represent and serve people in a large area, a Thousand Oaks bankruptcy attorney is often the exact same person as an Encino bankruptcy attorney.  Even though it could be difficult to get around for a while, it is essential that a good lawyer is gotten since it can help so much.  Good representation means keeping goods and finishing the court proceedings in a positive way; otherwise, there is no telling what troubles the person will have later.  To be able to establish good credit and make the impact on one’s life smaller, getting on with some good credit habits after the proceedings is a good idea.

Rob R. Nichols is a Encino bankruptcy attorney serving the San Fernando Valley. Nichols is a great Thousand Oaks bankruptcy attorney with fees as low as $895.00.

More about → Where United States Bankruptcy Laws Came From And Evolved

Bankruptcy Attorney Help: Debt Can Affect Anyone

The accident happened in a split second, but it left you with a lifetime of pain and debt that you could never repay. Once everything begins to sink in, you begin to question what you will do. Will you lose your home? Will you have to go bankrupt? These questions and more can be answered by a reliable bankruptcy attorney. If you are not at a devastating point in your life, you are in an even better position to find a bankruptcy attorney that you can trust to be on hand should you have some a life-changing experience. If you are lying in bed reading this, then you are at a point where it is urgent that you find the help right now.

You may wonder what a bankruptcy attorney will even help you with. These law professionals have been trained to know the law and details surrounding going bankrupt. They can help you not to lose the belongings you love, and they can help you make it through the debt that is pulling you down.

If you do not have such a lawyer on hand, start now with a simple internet search. You will most likely come up with a large number of bankruptcy attorney entries. All of these will not be equal in their trustworthiness or their experience. You will need to take some time to do research. One way that you can research is by asking around to those you know to see if they have one that they trust. This may be a simple, quick fix. If you come up with nothing from that, then take the time to go to each website for each bankruptcy attorney.


There are several areas that you should consider as you open the individual websites. The first thing you should consider is whether the website looks professional. The professionalism of the website can mean several things. If it is not professional it could mean, that they do not care about the little things, perhaps they are arrogant enough to think people will just love them even with an unprofessional site. That is not a good sign. It could also mean that they cannot afford a webmaster to create and keep up a professional website. This is not a good thing either, because hopefully if a law professional is getting business he or she should be able to afford a website that has a professional appearance. So definitely look for a professional website. As you look through the website past the professionalism, look for an area that has information about their education and experience. It is important to know why they believe they are good at what they do. You should then make a call to the attorneys who come to the top of the list. Make sure that they are in business, and that their webpage is indeed accurate.

After looking through a variety of websites, you will have likely narrowed your way down to a select few. From those select few, it is a good idea to search for reviews on the internet for each specific law professional to see if anyone who has hired them has anything good or bad to say. You will not regret these simple steps to help secure your future.

Debt can affect anyone in these unfortunate economic times, and you shouldn't feel ashamed for being harrassed by creditors. A local Tacoma bankruptcy attorney can help you examine your options. Find out more at http://www.yandolaw.com/.

More about → Bankruptcy Attorney Help: Debt Can Affect Anyone

Ways To Prevent Bankruptcy

Bankruptcy is something that will change your life.  It is becoming more and more normal for consumers today.  It is an easy way to wipe out your debt, but it comes with some serious consequences.  Bankruptcy will destroy your credit for an indefinite period of time.  It is a good idea to really take a look at your financial life, and if at all possible, avoid filing for bankruptcy.  With just a few changes to your spending, you might be able to prevent filing altogether.

The quickest way to save yourself from financial trouble is to open a savings account.  If you are surviving paycheck to paycheck, this might be much easier said than done.  When you are forced to live this way, and with the possibility of losing your job, you can run into a lot of problems.  A savings account can keep you from getting into financial problems.  Even if you can only save a handful of dollars per paycheck, it is a good start.

As consumers, we are always spending money on merchandise that we do not need.  Shopping is the easiest and most common way to get into trouble with your credit.  Before you get into serious debt, stop spending cash on things that you do not need.  If you stop spending cash on items that are not necessary, you will have more money to save and less debt.  Shopping is the worst kind of ruin you can get into.  It is completely not worth it.


A great way to stop spending and start saving is to really understand what can happen to you if you file for bankruptcy.  After filing for bankruptcy, you will be subjected to indefinite poor credit.  Bankruptcy can make your life tough by affecting your credit for seven years.  With bankruptcy on your record, simple things like getting a car or renting an apartment can become almost impossible.  Aside from getting loans, you can risk not being able to get a valuable job.  Don’t be surprised if an employer submits a credit and background check on you.  This shows them whether or not you are likely to be a responsible and trustworthy hire.  Don’t let bankruptcy be the reason you get passed over for a wonderful job.

If you are still considering bankruptcy, find a legal expert for guidance.  You can track down a Thousand Oaks bankruptcy attorney or an Encino bankruptcy attorney for guidance and help.  Many legal professionals will even provide you a free consultation.

Rob R. Nichols is a Encino bankruptcy attorney serving the San Fernando Valley. Nichols is a great Thousand Oaks bankruptcy attorney with fees as low as $895.00.

More about → Ways To Prevent Bankruptcy

Chapter 7 Bankruptcy: Know the Disadvantages

Bankruptcy is often touted as the best way to get rid of debt when you have no hope of paying all your bills off. Chapter 7 is particularly popular because you do not have to pay back your creditors. However, you should take this route with caution since there are some drawbacks, aside from the major hit your credit score will take. Find out some of the disadvantages of this option. You might find that other chapters, or other ways of reducing debt, will work better for you.

If you have few assets to lose, then you are usually encouraged to declare chapter 7. This is because you will likely not be allowed to keep much when you take this route. You might be able to keep your primary residence, unless you have a lot of equity in it. If you have a lot of it paid off, the trustee may decide to sell it to pay some of your creditors. You should also find out what the homestead exemption is for your state, as some areas allow you to keep your whole home, while others only allow you to keep a small portion of its value. In addition, you will probably be able to keep one car, though if it is a luxury vehicle, you may have to sell it and buy a cheaper car so your creditors get more of your money. Talk to your lawyer before filing for bankruptcy to ensure you do not have too many assets to lose for this to be a worthwhile route.


You should also know that your income must be low enough to qualify for chapter 7 if you plan on filing. You first have to compare your income to the median income for your state. If it is lower than the median, you can choose this option, but if it is higher, you must pass the means test. This requires you to add up your income and then deduct most of your expenses, as this will determine how much you have leftover. If the court believes you have enough left to pay back some creditors, you will have to file for chapter 13 instead. Thus, you need to make sure you do not make too much if you want to avoid making a repayment plan for creditors.

If you wish to declare chapter 7 to get out of paying back taxes, child support, alimony, or student loans, you may be disappointed to find that this is not usually possible. These debts are all exempt from bankruptcy, meaning you cannot include them. You can still declare bankruptcy to get rid of all your other debts, but you will have to pay back any taxes from the last three years. You also have to pay student loans, alimony, and child support unless you can prove that it would be a huge hardship for you, such as due to disability or complete inability to bring in any income.

Clearly it is worth talking to a lawyer before planning on filing. Not everyone is eligible for this route, nor is it the best option for everyone.

When it comes to individuals seeking to file Chapter 7 Long Branch legal professionals are happy to advise you on the pros and cons of this decision and its impact on your financial future. Learn more at http://www.adamschneiderlaw.com/.

More about → Chapter 7 Bankruptcy: Know the Disadvantages