BENEFITS: Bankruptcy in Chapter 13 will provide you with the debt relief you need and give you a fresh start without being hounded by your creditors and debt collectors and without being tormented by the lawsuits they file against you. It will also stop creditors from taking away your possession, assets, and income if they obtain a Judgment against you and begin to execute (collect) on the Judgment by garnishing your wages or levying/attaching (take away) your assets and possessions. As soon as you file bankruptcy the law called the automatic stay will stop all collections and phone calls, collection letters, and any garnishments and protect your assets and possessions from the levies, even your secured assets. Creditors who are secured can ask the bankruptcy court to obtain relief from the automatic stay and then start repossessing their secured asset if you are not current on the monthly payments, but the automatic stay can delay their repossession/foreclosure actions for several weeks or months. That could give you time to catch up on the payments or do what you need to do to obtain some assets or income. Call us Now at (239) 542-2002.
FUTURE CREDIT: Some people worry that filing for bankruptcy will ruin their credit rating and hurt their financial future. It is important to remember that defaulting loans, late credit card payments or suffering through repossessions can hurt your credit rating as much as, or more than, filing for bankruptcy. Bankruptcy can give you the chance for a fresh financial start by discharging most of all kinds of debts. Having less debts is a big plus on your credit score. Many people obtain credit after bankruptcy within two years or less and most of the time within a year or less. The interest rate may be a little higher, but perhaps not. It depends on the type of loan you seek and the type of creditor, your income and many other factors. Certain creditors will not want to see you for a few years before considering you, such as some mortgage companies, but every creditor is different. Creditors usually view Chapter 13 filers less harshly than those who file Chapter 7 since the creditors received a portion of their money back. Although you can file another Chapter 13 as soon as your prior Chapter 13 case is completed the creditors know that it will take time for you to build up debts again and they will have a fresh chance to evaluate your potential to pay them back or their risk of you filing bankruptcy again. So most people would take years to build up enough debts where they would have to file bankruptcy again. Thus, the creditors know they have a few years to collect any new credit they give to you and collect their interest from you, and this means some creditors are very willing to give you credit after Chapter 13 bankruptcy. Also, since one can only obtain a Chapter 7 discharge of debts once every 8 years after a prior Chapter 7 then the creditors know they have 8 years to collect on any loans or credit they provide to you. Thus, they are more likely to provide credit to you based on their 8 years of protection (and 4 years until you can obtain a Chapter 13 discharge after a prior Chapter 7 discharge).
FEARS & FALSE PERCEPTIONS: Many people are terrified about considering filing for personal bankruptcy based on their perceptions of what bankruptcy is and they feel like they would become a failure in life. Some people view bankruptcy as being about one step away from being something morally evil. However, I remind my clients that the vast majority of people I see filing bankruptcy are filing due to circumstances beyond their control. They want to pay their debts but something happened and now they are not able to pay their debts. In the last few years millions of Americans had to file bankruptcy far above the normal amounts of cases, so you are not alone. Some feel like they would be stealing from the creditors but most of the commercial creditors have already made their money off people or they can protect their interests on various ways. Credit cards charge very high interest rates and they already made their money off of you. Some obtain their secured assets back; some receive government bailouts or grants, which is your money being stolen from you by your government and given to private businesses who are your creditors. Most commercial creditors are not being ripped off when one individual files for bankruptcy. If you do not file bankruptcy you may not survive, but if you do file the business creditors will easily survive and they will not be hurt much at all. You will survive also and save yourself from drowning in debt.In this slow and troubling economy, millions of honest hard working people have found themselves facing what seems like insurmountable debt and endless attacks and phone call from their creditors. When the creditors start filing suit against you or increase the harassing telephone calls and collection efforts against you and demand that you pay them far beyond your ability to pay them, it may be time to stop the lawsuits, phone calls, and attacks by discovering whether you should file chapter 13 bankruptcy against them. Call us Today at (239) 542-2002.
IS BANKRUPTCY MORALLY EVIL?: Some people view bankruptcy as being about one step away from being morally evil. Bankruptcy could not be morally evil when bankruptcies were commanded by God to Israel in the Old Testament (see Deut. 15). Every seven (7) years ALL debts in the entire nation were to be cancelled in Israel. God told the creditors to cancel the debts and He would greatly bless them more than they lost. The point is that it is good to be debt free and have creditors who care about other people. Some creditors do not care if your next home is under a bridge as long as they get their money to make another billion or two for their company. Getting a fresh start and being debt free is a great blessing and will eliminate much of your stress and worries and give you some peace of mind so you can live again.
BANKRUPTCY ASSET PROTECTION PLANNING SESSION: The Law Firm of Raymond Mitchell will help you understand Chapter 13 bankruptcy, the benefits and potential negatives, the process, the options you may have, and how it would apply to you in your situation. We offer you a thorough and valuable but totally free Debt Relief & Asset Protection Planning Session (valued at $300) to analyze your circumstances and educate you so that you will understand how it works and whether you should file chapter 13 bankruptcy. Call us to set up an appointment for your free in-depth Bankruptcy Asset Protection Planning Session so you will understand how to keep your assets and possessions while you eliminate most or all of your debts and approximately how much your monthly payment would be in a Chapter 13 payment Plan. If you do decide to file we will lead and guide you through the process of filing for Chapter 13 bankruptcy so you can stop the creditor attacks via the automatic stay and get yourself out of those troubles and debts. Call us Now at (239) 542-2002.
If you have any questions about filing for bankruptcy or see how you situation in bankruptcy would help you , contact the Law Firm of Raymond Mitchell for your valuable but totally free Bankruptcy Asset Protection Planning Session* (valued at $300) so you can understand how to protect your assets as much as possible, obtain debt relief, and stop the creditor harassment calls and letters. Call us Today at (239) 542-2002.
Individuals considering filing for bankruptcy have several questions that need to be answered, including:
Call/Contact the Law Firm of Raymond Mitchell [(239) 542-2002] for your valuable but totally free Bankruptcy Asset Protection Planning Session* (valued at $300) to protect your assets as much as possible, obtain debt relief and stop the creditor harassment calls and letters.
There are many things you should understand about Chapter 13, including:
If you have any questions about filing for bankruptcy or see how you situation in bankruptcy would help you , call the Law Firm of Raymond Mitchell for your valuable but totally free Bankruptcy Asset Protection Planning Session* (valued at $300) so you can understand how to protect your assets as much as possible, obtain debt relief, and stop the creditor harassment calls and letters. Call us Now at (239) 542-2002.
* For cases not yet filed or near the beginning of the case in our judgment, or a trial has been set and you are seeking an attorney for the trial in our judgment. See Attorneys for more information.