What Are Bankruptcy Lawyers?
Author: James Hunaban
Bankruptcy lawyers can be the savior of people who have made the tough decision to file for bankruptcy; their help will be invaluable as the process can affect the whole family for a number of years. Filing for bankruptcy has been made more complicated recently and more work is required before the process can be completed. An attorney will be able to carry out the work on your behalf so that there are no mistakes. Most debtors will find that once this means-testing is over, most of the changes to the law end there, and they will be able to proceed with the application just as did before the changes were introduced.
One important thing to remember is that most individuals who file for bankruptcy protection don’t lose any property as the U.S. bankruptcy code provides exemptions. These exemptions allow you to keep a certain amount of value in large property like your home and an automobile. Work clothes, tools and other essential items like furniture are also exempt, as a bankrupt still needs a place to live and a way to travel to work.
Of course, some States have made additions to the federal law and this is where your bankruptcy lawyer will be of more assistance if you want to retain the possessions to which you are entitled. The chances are that the person filing for bankruptcy does not own very high value items. The purpose of insolvency is not meant to be a punishment therefore many things required for living are exempt from creditors.
The unfortunate aspect to this is your credit rating will be affected and on your record for a decade. You see, you’re the majority of your credit score rating is made up of more recent financial activities and not so much about past ones. What this means is that within a relatively short space of time after you become bankrupt you will start receiving credit applications but at this stage you must be very careful.
Your bankruptcy lawyer will tell you to be wary of these offers at this time as many companies specialize in approaching these types of cases and offer loans at extortionate interest rates or conditions. Such credit could put you back in the position you were before. Your attorney will be able to advise you on reputable companies but whatever your credit agreements are, you will do your credit rating a great deal of good if you ensure that you always pay more than the minimum required.
In fact if you keep your financial affairs clean, in a matter of a few years, you can find yourself with a re-built credit rating. Buying a house or arranging an unsecured loan after this short period should not cause you any undue problems even though your bankruptcy will be on your record for 10 years.
It usually the result of a set of unfortunate circumstances that leads to a bankruptcy. It is not because the individual is a failure looking for an easy way out of his debts as the credit companies would like you to believe. After the recent changes, the government may decide to make it even harder to qualify for bankruptcy if this type of approach by credit companies continues. Your bankruptcy lawyer will tell you that the vast majority of people who file for bankruptcy protection are honest, hard working, law abiding people that are just victims of poor fortune and circumstance; they are not criminals who are trying to deceive the State.
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CHASE CREDIT CARD:Chase Attorney’s?
I have an old Chase Credit Card from back in college that paid for my final semester. When I graduated I was making regular payments…never really got anywhere. In the past two years, things have gotten really bad. I was laid off from a job that was shutting it’s doors and it took me awhile to find work…the payments got behind. I began working in Real Estate and had caught everything back up after a few closings but the fees were exorbitant and the interest rate was out of site. They were not cashing my checks until AFTER the due date no matter when I sent them, I was getting hit with 35.00 fees for that, 35.00 fees for being over the limit, high interest…every time I would make a payment to bring it back down I would get bogus fees for late payments and higher interest rates to take it back over the limit. At this point I believe the amount owed is three or four times what I had charged in the first place..it is up to close to $10,000. (I do not know exactly as Chase has not sent me a bill since last fall). Then the local Real Estate Market Crashed. I asked for hardship help like Bank of America gave to me. Chase Bank said I had to make three payments of a set amount, three months in a row, and THEN they could enter me in the program to remove my fees and interest so the set payments could begin to work on the balance. I paid for over six months and they never entered me in the program. At that point I had not had a paycheck in months and was looking for other employment. Eventually my savings ran out and I had to quit paying on it all together along with everything else. I went a full year without employment, no means of supporting myself except through my family. I am working a temporary job but it ends in two weeks. They are trying very hard to find a place for me in the company but at this point I am still unable to guarantee steady payments. Most of my other creditors are working with me: Ford Credit, Bank of America, etc.
Chase Bank however, has turned it over to Valentine and Cabartus “Attorneys” who have harassed me, degraded me, lied to me, accused me of stealing money from chase by using their credit cards and not paying them back, among other things. They have never physically sent me any documents and apparently do not record the conversations as I have to repeat everything every time I speak with someone. I have offered them money when I started receiving paychecks as small as they were…up to 200.00 as that was all I was paid and they would not accept it. I have tried sending something in writing to Chase but I get the run around on who and where to send it.
I am trying to take care of this and pull myself out of this mess at the same time as I am on the verge of living on the street. My credit is shot, I do not have any assets, the job market is horrible. If I file bankruptcy I can not hold a Real Estate License in the state of NC. (according to my association) and I do have clients and houses on the market..but they are just sitting there. If they sale, they are large commissions that I could offer Chase a substantial amount…like 1500.00 but if I file bankruptcy I lose even that option. I do not want to file bankruptcy. I want to work and pay my debt….can you give me any advice on how to handle this situation and this harassing company?
Desperate and stressed!
Desperate and stressed? Why not learn how to fight back and give them more grief than they are giving you? You say your credit is shot? Then learn how to fix it and get paid for doing it. You don’t have any assests and little income? Then let those who are abusing you pay for the misery they are causing you. If you don’t want to do that then all I can say is that you will just have to live with it the best you can.
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