Free Bankruptcy Manuals Free Bankruptcy Forms Free Bankruptcy Advice Free Bankruptcy Help Chapter 7 Chapter13 How to file Bankruptcy without an attorney or lawyer. File Bankruptcy inexpensively and without an attorney. Stopforeclosure and wage garnishments without an attorney and usually keep everything. Personal Bankruptcy Chapter 7Chapter 13 and Free bankruptcy help information and services Online bankruptcy assistance and consultation plus--comprehensive pros and cons with an overview of bankruptcy procedures-- plus, true stories of it's effects and benefits.
What some of our customers are saying...
From Kimberly in MO I can't believe how amazing you are-- this is nightmare paperwork --I would've NEVER been able to do this-- Thank You again so very much
From Chrissy in OH
You rock!! Thanks so much for your help. I wasn't sure what to expect doing this myself but you have been great!!!
From Roger in MI
you did a SMASHING job of reading what I wrote and turning it into this very organized and beautifully written petition--Thank You
Other Services you may need... Learn to file bankruptcy do it yourself or without an attorney in the northern, southern, eastern and western states: Alabama AL, Alaska AK, Arizona AZ, Arkansas AR, California CA, Colorado CO, Connecticut CT, Do it yourself bankruptcy in Delaware DE, Florida FL, Georgia GA,
File bankruptcy without an attorney in Hawaii HI, Idaho ID, Illinois IL, Indiana File Chapter 7 without attorneys IN, Iowa IA, Kansas KS, Kentucky KY, Louisiana LA, Maine ME, Maryland MD, Massachusetts MA, Michigan MI, Minnesota MN, Mississippi MS, Missouri File bankruptcy without an attorney in MO, Montana MT, Nebraska NE, Do it yourself bankruptcy in Nevada NV, New Hampshire NH, New Jersey NJ, New Mexico NM, New York NY, North Carolina NC, North Dakota ND, Ohio OH, Oklahoma
File Chapter 7 without attorneys OK, Oregon OR, Pennsylvania PA, Rhode Island RI, South Carolina File bankruptcy without an attorney in SC, South Dakota SD, Tennessee TN, Texas TX, Do it yourself bankruptcy in Utah UT, File Chapter 7 without attorneys Vermont VT, Virginia VA, Washington WA, West Virginia WV, Wisconsin WI, Wyoming WY rent to own homes and houses for rent can be found in: Alabama AL: Gulf Shores, Birmingham, File Chapter 7 without attorneys Huntsville, Decatur, Florence, File bankruptcy without an attorney in Auburn, Tuskegee, Mobile, Montgomery, Dothan, Anniston, Tuscaloosa, Hoover, Dothan Alaska Do it yourself bankruptcy in AK: Anchorage, File Chapter 7 without attorneys Fairbanks, Juneau, Kodiak, Valdez Arizona File bankruptcy without an attorney in AZ: Flagstaff, Phoenix, Scottsdale, Tempe, Tucson, Yuma Arkansas Do it yourself bankruptcy in AR: Hot Springs, Little Rock, Eureka Springs, Fayetteville, Fort Smith, Jonesboro, Monroe California Do it yourself bankruptcy in CA: Anaheim, Beverly Hills, Burbank, Carmel, File Chapter 7 without attorneys Fresno, Hollywood, Modesto Vacaville Laguna Beach, Los Angeles, File bankruptcy without an attorney in Monterey, Newport Beach, Oakland, Palm Springs, Palo Alto, Pasadena, Redondo Beach, Sacramento, San Diego, File bankruptcy without an attorney in San Francisco, San Jose, Santa Barbara, Santa Cruz, Santa Monica, Carlsbad, Carmichael, Citrus Heights, Concord, Corona, Davis, El Cajon, Fairfield, Fremont, Hayward Huntington Beach, Irvine, File bankruptcy without an attorney in Long Beach, Modesto, Mountain View, North Hollywood, Oceanside, Rancho Cucamonga, Riverside, Roseville, San Leandro, San Mateo, Santa Ana, Santa Clara, File Chapter 7 without attorneys Santa Rosa, Sherman Oaks, Sunnyvale, Temecula, Tustin, Van Nuys, Vista Colorado CO: Aspen, Boulder, Colorado Springs, File Chapter 7 without attorneys Denver, Telluride, Vail Connecticut CT: File bankruptcy without an attorney in Hartford, New Haven Delaware DE: Dover, Wilmington Florida Do it yourself bankruptcy in FL: Boca Raton, Clearwater Beach, Daytona Beach, Destin, Fort Lauderdale, File bankruptcy without an attorney in Jacksonville, Key West, Miami, Naples, Orlando, Palm Beach, Panama City Beach, Pensacola, St. Petersburg, Sarasota, Tallahassee, Tampa, Apollo Beach, File Chapter 7 without attorneys Apopka, Beverly Hills, File bankruptcy without an attorney in Arbor Oaks at Boca Raton, Boca Raton, Bonita Springs, Bradenton, Cape Coral, Citrus Springs, File Chapter 7 without attorneys Clearwater, Clermont, Cocoa Beach, Davenport, Davie, Delray Beach, Doral, Estero, Fort Lauderdale, Fort Myers, Ft. Lauderdale, Ft Myers, Heathrow, Jacksonville, Jensen Beach, Kissimmee, Lake Mary, Lakewood Ranch, Largo, Lehigh Acres, Lithia, Maitland, Miami, Miami Beach, Miramar, Naples, New Port Richey, North Miami Beach, North Port, Orlando, Overstreet, File bankruptcy without an attorney in Oviedo, Palm Bay, Palm Beach Gardens, Palmetto, Palm Harbor, File Chapter 7 without attorneys Panama City Beach, Parrish, Ponte Vedra, Port Charlotte, Port St Lucie, Punta Gorda, Riverview, Ruskin, File bankruptcy without an attorney in Saint Augustine, Saint Cloud, Sarasota, Sorrento, Spring Hill, St Augustine, St. Augustine, St. Petersburg, Stuart, Tarpon Springs, Wellington, Wesley Chapel, West Palm Beach, Windermere, Wintergarden, Winter Park Georgia GA: Athens, Atlanta, File bankruptcy without an attorney in Augusta, Columbus, Macon, Savannah, Albany, Americus, Bainbridge, Brunswick, File Chapter 7 without attorneys Commerce, Cornelia, Dalton, Gainesville, Hinesville Fort Stewart, LaGrange, Lake Oconee, Milledgeville, Rome, St Marys, Statesboro, Do it yourself bankruptcy in Thomasville, Toccoa, Valdosta, Warner Robins, Waycross.. Acworth, Alpharetta, Atlanta, Auburn, Austell, Avondale Estates, Bowdon, Bowdon Junction, Brooks, Buford, Canton, Carrollton, Cartersville, Clarkston, College Park, Conley, Conyers, Covington, File bankruptcy without an attorney in Cumming, Dacula, Dallas, Dawsonville, Decatur, Doraville, Douglasville, Duluth, Dunwoody, East Point, Ellenwood, Emerson, Fairburn, Fayetteville, Forest Park, Grayson, Griffin, File Chapter 7 without attorneys Hampton, Hapeville, Hiram, Inman, Jasper, Jonesboro, Kennesaw, Lawrenceville, Lilburn, Lithia Springs, Lithonia, Locust Grove, Loganville, Lovejoy, Mableton, Marietta, McDonough, File bankruptcy without an attorney in Monroe, Monticello, Morrow, Mount Zion, Newnan, Norcross, Peachtree City, Powder Springs, Rex, Riverdale, File Chapter 7 without attorneys Rockmart, Roopville, Roswell, Senoia, Smyrna, Snellville, Statham, File bankruptcy without an attorney in Stockbridge, Stone Mountain, Sugar Hill, Suwanee, Temple, Tucker, Tyrone, Union City, Villa Rica, Waleska, Whitesburg, Winder, Woodstock.. Hawaii HI: Honolulu, Kauai, Maui, Oahu Idaho ID: Boise, Pocatello, Sun Valley Illinois IL: Champaign-Urbana, Chicago, Moline, Aurora, Rockford, Do it yourself bankruptcy in Naperville, Elgin, Joliet, Peoria, Springfield Indiana IN: Angola, Bloomington, Etna Green, Evansville, Fort Wayne, Indianapolis, South Bend, Terre Haute Iowa IA: Cedar Rapids, Des Moines, Iowa City Kansas KS: Kansas City, Topeka, Wichita Kentucky KY: Lexington, Louisville, Bowling Green, Campbellsville, File bankruptcy without an attorney in Danville, Elizabethtown, Frankfort, File Chapter 7 without attorneys Georgetown, Harrodsburg, Henderson, Hopkinsville, Mount Sterling, Owensboro Paducah, Prospect, Do it yourself bankruptcy in Radcliff, Winchester Louisiana LA: Baton Rouge, New Orleans, Shreveport Maine ME: Bangor, Kennebunkport, Portland Maryland File Chapter 7 without attorneys MD: Annapolis, Baltimore Massachusetts MA: Amherst, Boston, Cambridge, Springfield, File bankruptcy without an attorney in Worcester Michigan MI: Ann Arbor, Detroit, Kalamazoo, Lansing, Traverse City, Ypsilanti, Brighton, Battle Creek, Marshall, Albion, Bay City, Benton Harbor, File Chapter 7 without attorneys St. Joseph, Niles, Big Rapids, Cadillac, Livonia, Dearborn, Flint, Gaylord, Grayling, Houghton Lake, Petoskey, Grand Rapids, Wyoming, Kentwood, Holland, Grand Haven, File bankruptcy without an attorney in Houghton, Jackson, Portage, East Lansing, Marquette, Ishpeming, Midland, Monroe, Do it yourself bankruptcy in Mount Pleasant, Muskegon, Norton Shores, Royal Oak, Southfield, Troy, Warren, Birmingham, Rochester, Rochester Hills, Saginaw, Sault Ste Marie, Beaverton, Farmington Hills, Fenton, Fremont, Garden, Gladstone, Linden, File Chapter 7 without attorneys Livonia, Mears, Mount Morris, Ortonville, Oxford, Pontiac, Sandusky, Warren, Waterford Minnesota MN: Duluth, Mankato, Minneapolis, File bankruptcy without an attorney in St. Paul, Rochester Mississippi MS: Biloxi, Jackson Missouri MO: Branson, Kansas City, St. Louis Montana MT: Billings, Butte Nebraska NE: Lincoln, Omaha Nevada NV: Las Vegas, File Chapter 7 without attorneys Reno New Hampshire NH: Concord, Hanover, Manchester, Portsouth New Jersey NJ: Princeton, Newark, File bankruptcy without an attorney in Trenton New Mexico NM: Albuquerque, Las Cruces, Los Alamos, Santa Fe New York NY: Albany, Buffalo, Ithaca, New York City, Niagara Falls, Rochester, Syracuse North Carolina NC: Chapel Hill, Charlotte, Durham, Fayetteville, Greensboro, King, Raleigh, Winston-Salem North Dakota ND: Fargo, Grand Forks Ohio OH: Cincinnati, File bankruptcy without an attorney in Cleveland, Columbus, Dayton, Lima, Toledo, Wheeling Oklahoma OK: Oklahoma City, Tulsa Oregon OR: Ashland, Eugene, Portland, File Chapter 7 without attorneys Salem Pennsylvania PA: Bethlehem, Erie, Harrisburg, Hershey, Do it yourself bankruptcy in Philadelphia, Pittsburgh, Scranton, State College, York, Lancaster Rhode Island RI: Charleston, Newport, Providence South Carolina SC: Charleston, Columbia, Greenville, Myrtle Beach, Rock Hill, Augusta, Florence, File bankruptcy without an attorney in Sumter, Hilton Head Island, Spartanburg South Dakota SD: Pierre, Sioux Falls Tennessee TN: Chattanooga, File Chapter 7 without attorneys Gatlinburg, Knoxville, Memphis, Nashville, Pigeon Forge Texas Do it yourself bankruptcy in TX: Amarillo, Austin, College Station, Corpus Christi, Dallas/Ft. Worth, El Paso, Galveston, Houston, San Antonio Utah UT: Ogden, File Chapter 7 without attorneys Salt Lake City Vermont File bankruptcy without an attorney in VT: Burlington, Montpelier Virginia VA: Alexandria, Lynchburg, Norfolk, Richmond, Virginia Beach, Williamsburg Do it yourself bankruptcy in Washington File bankruptcy without an attorney in WA: Olympia, Seattle, Spokane, Tacoma West Virginia WV: Charleston, File Chapter 7 without attorneys Morgantown, Wheeling Wisconsin WI: Madison, Milwaukee Wyoming WY: Cody, Yellowstone
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 | Free Bankruptcy Manuals, Free Bankruptcy Forms Free Bankruptcy Advice, Chapter 7, Chapter13 THIS IS ONE OF THE MOST INFORMATIVE, COMPREHENSIVE BANKRUPTCY SITES ON THE WEB We will show you... | |
How to file Bankruptcy Without an Attorney
How to Stop Foreclosure
How to Get Rid of Back Taxes
How to File Bankruptcy and Still Buy a Home | How to File Bankruptcy Cheaply
How to Stop Wage Garnishments
Discharge All Debt and Keep All Your Assets
When Bankruptcy Can Actually be GOOD for Your Credit |
... And Why, (contrary to what credit card companies and consumer credit counseling firms have led the public to believe), you can still File Bankruptcy, Discharge All Debt and STILL almost certainly, Keep Everything You Own!
Simply Put, We don't preach-- we teach. Our goal is not to look out for the interests of the credit bureaus or creditors-- It is to provide the best information and service available for solving your issues. The decision as to how to use the information is left to you.
WE MAKE THE PROCESS SIMPLE! What some of our customers are saying...
From Kimberly in MO I can't believe how amazing you are-- this is nightmare paperwork --I would've NEVER been able to do this-- Thank You again so very much! | From Vivian in CA
Last Tuesday, January 12, 2010, I went for my appointmentwith the Creditors. After waiting for approximately 35 minutes, the interview took about 5 minutes. The Judge was very cordial. None of the Creditors were present. It was not stressfulas I had anticipated. There were many people there for the same reason as me, so that gave me a level of comfort to know that I am not alone in this critical financial situation. | From Clarence in FL
My first and last meeting with the creditors went great! (August 5, 2011). No creditors showed up to question me and my discharge papers are already on the way. Having this out of the way and done is such a great feeling. Thanks, to all who helped. | From Roger in MI
you did a SMASHING job of reading what I wrote and turning it into this very organized and beautifully written petition--Thank You | From Chrissy in OH
You rock!! Thanks so much for your help. I wasn't sure what to expect doing this myself but you have been great!!! |
If you have any questions, please call Toll Free 877 604 6636 Extension 3 Please when calling reference Service ID PT18676 Or
Crucial Bankruptcy Links and Information We provide Online Bankruptcy Assistance, Free Consultation, plus-- comprehensive pros and cons with an overview of bankruptcy procedures-- plus, true stories of it's affects and benefits.
We even GIVE you the resources, (Free Forms and Manuals) that will allow you to file completely on your own, if you so choose. If you want professional assistance, we guarantee to provide you with the very best service at the very lowest fees, about one fourth of most attorney's fees.
HOW WHAT DOES IT COST TO FILE BANKRUPTCY The fees to the court are usually about $299. If you qualify for a "Waiver of Court Fees", that portion would be free. And in some instances the court will allow you to pay their fees in installments. (for details call 877 604 6636 Ext 3) Please reference Service ID # PT18676
WHAT DO WE CHARGE TO PREPARE YOUR BANKRUPTCY? Chapter 7-- Most Attorneys charge anywhere from $1,200 to $2,000, for a Chapter 7 (complete discharge of debts). Our fee for a Chapter 7 is ONLY $295 and even that is broken up into 2 payments.
Chapter 13 (Where a repayment plan is developed in which all debts are paid over a 3 to 5 year period), Most Attorneys charge anywhere from $3,000 to $5,000 or more for a Chapter 13. Our fee for a Chapter 13 is only $ 800 and we help you by breaking this up into 3 installments.
How Can We Charge So Little Compared to Everyone Else?
There is a tendency in business to charge that which the market will bear. Oil companies do it-- so do attorneys. Attorneys not only can charge... but can actually get, exorbitant fees-- so they do.
We Do More Than Bankruptcy We are much more than Bankruptcy Preparers. We handle a myriad of services and issues, Bankruptcy, Taxes, Wills, Credit Repair, Home Sales, Home Loans, Financial Opportunities, etc... in fact, we are known as the No Down Home Purchase specialists helping people all across the US to buy homes with no down regardless of credit, hence our phone number... America West Homes Toll Free 877 60 4 No Down (877 604-6636) Ext 3 When calling, please reference Service Code PT18676 We know that by treating you right with our combination of premium service and low fees, we will be your company of choice for all your future business and financial needs.
We don't want you just as a customer for today, we want you and your family, and friends as customers for life.
And quite frankly, as pertains to bankruptcy... because, we utilize the most up to date technologies and software, we can accomplish in 5 hours what it might take others 5 days to accomplish. Remember, it is our goal to provide the options you need to solve your issues. If you need our services, we're here to help. If you prefer to do it on your own, we'll help there, too. Questions? Call Toll Free 877 604 6636 ext 3 Please when calling reference Service ID PT18676
DO YOU WANT TO FILE ON YOUR OWN? We'll still help! Click below for Free Forms and Bankruptcy Manuals At The Solutions Network, we do more than prepare your bankruptcy petition. We help prepare you for Life After Bankruptcy... The Complete Bankruptcy Package gives you all of this... Complete Bankruptcy Document Preparation so you can get a Financial Fresh Start-- We prepare all schedules, including the Federal Bankruptcy Petition plus, Schedules A, B, C, D, H, J, Statement of Financial Affairs, etc... Tri-merged credit report-- we help you get a FREE Tri-merged report, so you don't miss creditors. A complete record of all debts you owe, credit cards, car loans, real estate loans, collections, judgments, tax liens, school loans, including balances, payment amounts, creditors names and their addresses-- Saves you hours in your debt investigation.. Remember, if they are not listed in your Bankruptcy, you still owe the debt! Do It Your Self Credit Repair Kit-- see credit repair. By utilizing the techniques that we include in these 2 Creditor Busting Ebooks you will be able to immediately begin to improve your credit rating and credit score, in spite of your bankruptcy. Bankruptcy Information Packet--Comprehensive, but easy to understand information that shows how to maximize the benefits of your bankruptcy by not only eliminating debts, but by reducing the amount of debt remaining on that car or furniture on which you still owe money but want to keep. In other words-- keep the car-- but get rid of half the debt. The Truth is that Bankruptcy has it's Benefits and it's Drawbacks-- but whether it is the right decision for you depends on your particular situation... For one family Bankruptcy was the only way to achieve home ownership... For another family, the failure to file, when truly necessary, almost cost them everything. To see how and why bankruptcy impacted these families' lives see "Scenarios 1 & 2" Below.
Note: The Solutions Network provides low cost bankruptcy services in all states including the following states and protectorates. Alaska AK Alabama AL Arkansas AR Arizona AZ California CA Colorado CO Connecticut CT Washington DC Delaware DE Florida FL Georgia GA Hawaii HI Iowa IA Idaho ID Illinois IL Indiana IN Kansas KS Kentucky KY Louisiana LA Massachusetts MA Maryland MD Maine ME Michigan MI Minnesota MI Missouri MO Mississippi MS Montana North Carolina NC North Dakota ND Nebraska NE New Hampshire NH New Jersey NJ New Mexico NM Nevada NV New York NY Ohio OH Oklahoma OK Oregon OR Pennsylvania PA Puerto Rico, Guam, Rhode Island RI South Carolina SC South Dakota SD Tennessee TN Texas TX Utah UT Virginia VA Vermont VT Washington WA Wisconsin WS West Virginia WV Wyoming WY
In spite of an effective National Campaign by creditors, that fact is... life after bankruptcy is not as difficult as often imagined or portrayed.
Even so, whether or not to file Bankruptcy is one of the most difficult decisions that a person makes in today’s society. Good decisions require accurate information. The things that cause people to come to a point in their life where Bankruptcy becomes something to even be considered are many varied. But at this point, we are not going to talk about how we got to that place, but rather, what to do about it-- and to inform you of the true consequences. We all know that bankruptcy is not a good thing. It goes on your credit report and stays there for 10 to 12 years, and yes, for a year or two, if you apply for a loan, you will pay a higher interest rate. There's no question, bankruptcy is rarely the ideal solution, but it is often the best solution-- and as we'll see, it also is not an economic death sentence. Crucial Bankruptcy Links and Information Note: Recently, there has been a lot of discussion about credit improvement services. Many companies are scams-- some are reputable. Credit restoration has it's benefits and it's limitations. Often times the effective dispute of derogatory credit can eliminate the need for bankruptcy and allow you to pursue objectives you may have that are almost impossible with the derogatories still on your credit file or with a recent bankruptcy. For a comprehensive discussion of the benefits and limitations of credit restoration,click here.
Should You File Bankruptcy? There is no magic formula that tells you whether bankruptcy is the best choice for you-- but here a few facts to consider.
You don't need bankruptcy protection now if... You have nothing that a creditor with a judgment could take from you, in either assets or income: that is, if everything you have is exempt under the laws of your state, including your source of income, you have nothing to lose to a creditor and no need for bankruptcy protection now. However, it's important to realize that just because the creditor has nothing to attach, now, does not mean that the debt can’t come back to haunt you.
Are your present circumstances a temporary financial glitch? Will you in the near future be better off? New job? Extra Income? Will you soon have your finances in place? If you file now, (while down in the dumps, so to speak), you will undoubtedly be able to keep everything and pass the federally mandated means test (Don't worry, we handle that for you)--plus... in two years you will be almost blemish free with no outstanding collections, late pays, or judgments. Your credit worthiness will then be determined by your, then current, income and the credit track record you create after the bankruptcy. If you keep a clean slate, you will again be considered a good credit risk.
WHAT IF YOU DON'T FILE? If you DON'T FILE, and your financial situation improves? Obviously getting back on your feet is great thing, but... In Two Years you could be faced with this-- You've weathered the storm and now have great income, living the American Dream, have newly acquired assets, Great Income, But Now... Instead of a having two year old discharge, and no existing debts, re-established credit, (your situation if you had filed), you still have collections and judgments-- but now that you have an income and something to take, your past creditors are coming after you! And Chapter 7 protection is out of the question because now that you are living the American Dream... You make too much money to pass the means test! You will now have to pay back old debts or face garnishments. Even more so, (If you didn't file) and you now attempt to buy a home, ( See No Down Real Estate Investment), the existence of the still owed collections and charge offs will in many cases prevent you from getting a home loan until they are paid, and at the very least will necessitate a higher interest rate and down payment. If, on the other hand, your BK is one to two years old and all debt since then has been paid on time, you will again be considered a good credit risk and qualify for the best home loans available. There are even many purchase programs that will work for you immediately out of bankruptcy.
I want to make something clear. The above the above scenario, nor those that follow are in anyway intended to try to convince you that you should file bankruptcy. That decision is absolutely yours and yours alone. We just want to be certain that any decision you make is based on a complete understanding of facts and actual, rather than imagined consequences. |
The Truth About Bankruptcy The decision to file is intensely personal. It is yours and yours alone. Whatever, decision you make, be certain that is made with all the facts in hand.
What I am going to do here is not necessarily give you advice but rather elaborate on a couple of scenarios that I have had with my clients while dealing with Bankruptcy, and credit related facts-- also, what I suggested that they do and the end result. Of course, how you proceed and the decisions you make are yours and yours alone. My goal is to simply help you proceed with a broader view of what bankruptcy is. Hopefully, this article will give you more relevant, real life facts to help you make a fully informed decision-- See the following true life stories of past clients.
Inevitability. Should You File Now? or File Later? | Is doing the Right Thing the Wrong Thing for Your Family? |
Do you own a home and are in danger of losing it? See our article regarding alternatives and possible solutions to Foreclosure Remember, you rarely have to lose your home. Even though, Bankruptcy should be a last resort, if all else fails, a Chapter 13 will almost always allow you to save your home.
SHOULD YOU FILE BANKRUPTCY NOW OR LATER? I had a close personal friend who came to me wanting to buy a home. During the loan process we found that he had absolutely impeccable credit. Unfortunately, his income was only slightly more than his outgo, (as in about $100 per month, and this was before food and utilities!), . My first question to him was how are you managing to make all your payments on time. I had never seen anyone so overloaded with debt while making their payments so flawlessly. He informed me that he was effectively borrowing from Peter to pay Paul. Borrow from one credit card to pay another, then open another credit account to pay the last... Under these circumstances, there was no way that he could qualify for a normal loan. He only wanted around an $80,000 home, but even with the $8,000 down he was getting from a settlement, he could not qualify for a conventional low rate loan. His expenses vs income was just too high.
As I explained to him, with his income to debt ratios, he would never be able to buy a house. At least, not with a fixed rate or reasonable down payment. We were going to have to get creative. I then explained to him that with his situation-- Namely, the fact that every month he was going further and further into debt. His minimum payments on the credit cards were getting larger and larger-- His income was staying relatively stagnant. He was unquestionably spiraling into the need for a bankruptcy. The only real question was would it be now or later?
Here’s what we did. We used his $8,000 insurance settlement for his down payment. I persuaded the seller of the property to carry $12,000 for a term of 30 months. Now, that we only needed a loan for $60,000 on an $80,000 home, We were able to get him a loan secured by the property. It was not a good loan, but a loan, nevertheless. This loan was fixed at 6%, but for only two years. After that it would adjust to about 12%, thus increasing my friends payment by about $300 per month over the original payment. Generally, I wouldn’t negotiate this deal for my worst enemy, but we had a strategy that would insure that he would never have to pay that high interest rate.
NOTE: If a person files Bankruptcy and then from the date of discharge, keeps any new or reaffirmed debts paid perfectly, for most lenders, in two years, they will be considered to again be a good credit risk. We closed the deal, he now owned the home and he then immediately filed Bankruptcy. So hedischarged his unsecured debt, and reaffirmed his home and car loan. (i.e. continued to make payments on home and car). NOTE: There are now loan programs that will allow you to get a home loan within 6 months after bankruptcy or even one day with a substantial down payment.
At the end of two years, he had paid his remaining bills perfectly. Additionally, because he had all of the unsecured debts discharged, his monthly obligations were reduced by about $600 per month. He now had good credit and income to debt ratios that were reasonable, so he could now refinance his home and get rid of that first mortgage that was getting ready to go to 12%-- plus, because his home had appreciated, we could even pay off the $12,000 that he still owed the seller. Because his finances were now in balance I was able to get him approved for a refinance to do the above at a fixed 6% interest rate loan. Amazingly enough-- this was one of those rare situations in which the only way to accomplish the goals of home ownership for himself and his family, was Bankruptcy. ***********************************************************************************************************
IS DOING THE RIGHT THING, THE WRONG THING FOR YOUR FAMILY? Doing the right thing is always admirable. But it has been my experience that sometimes doing the right thing for the creditors is absolutely the wrong thing for your family... I was recently contacted by a family that had been struggling with debt for 3 years. Prior to the beginning of their problems they had both had very good jobs. As with most of us, good jobs equal good lifestyle and lots of debt. Their income was such that they were not overloaded in the least.... but then he lost his job, the family income was halved for about six months. They had some 30 day lates, but nothing too serious. He finally found other employment-- just about the time that she lost her job!... Over the next three years, for both of them, employment was sporadic. In their attempt to do the “right thing” i.e. keep their home, pay their bills, even if late... they drained not only their savings, but raided their retirement accounts (Which you can almost always keep when you file Bankruptcy),
To make matters worse, dipping into retirement accounts, carried early withdrawal penalties and extra tax liabilities, (we managed to avoid most of the penalties on anamended tax return), but the point is that they were financially drowning. At all costs, they were determined to avoid bankruptcy. They wanted to do the right thing and pay their creditors. They continued their spiral and sporadic employment for three years.
This was admirable and I respect them immensely for their integrity. But now, they have nothing left. Even their retirement is gone! Their home was in foreclosure and to keep the home, for themselves and daughter, they finally decided to file a chapter 13 bankruptcy.
If they had filed two years earlier, when the spiral was obviously out of control... They would now have good credit, they would still have their retirement, and they would be stress and debt free. As it stood, we saved their home, but their retirement is forever lost and good credit is a thing that will elude them for another two years. In my opinion, the moral of the story is, if you can fix your finances, by all means, do so. But please, for your and your families sake, make an honest and objective assessment of your ability to pull out of the financial morass. If Bankruptcy is inevitable, do it now, not after your retirement is gone.
Crucial Bankruptcy Links and Information If you have any questions, please call Toll Free 877 604 6636 Extension 3 Please when calling reference Service ID PT18676 Note: The Solutions Network provides low cost bankruptcy in Alaska bankruptcy in Alabama bankruptcy in Arkansas bankruptcy in Arizona bankruptcy in California bankruptcy in Colorado bankruptcy in Connecticut bankruptcy in Washington DC bankruptcy in Delaware bankruptcy in Florida bankruptcy in Georgia bankruptcy in Hawaii bankruptcy in Iowa bankruptcy in Idaho bankruptcy in Illinois bankruptcy in Indiana bankruptcy in Kansas bankruptcy in Kentucky bankruptcy in Louisiana bankruptcy in Massachusetts bankruptcy in Maryland bankruptcy in Maine bankruptcy in Michigan bankruptcy in Minnesota bankruptcy in Missouri bankruptcy in Mississippi bankruptcy in Montana bankruptcy in North Carolina bankruptcy in North Dakota bankruptcy in Nebraska bankruptcy in New Hampshire bankruptcy in New Jersey bankruptcy in New Mexico bankruptcy in Nevada bankruptcy in New York bankruptcy in Ohio bankruptcy in Oklahoma bankruptcy in Oregon bankruptcy in Pennsylvania bankruptcy in Rhode Island bankruptcy in South Carolina bankruptcy in South Dakota bankruptcy in Tennessee bankruptcy in Texas bankruptcy in Utah bankruptcy in Virginia bankruptcy in Vermont bankruptcy in Washington bankruptcy in Wisconsin bankruptcy in West Virginia bankruptcy in Wyoming |
How to file Bankruptcy inexpensively. Stop foreclosure and wage garnishments without an attorney and keep everything. Personal Bankruptcy Chapter 7 and Chapter 13 Freebankruptcy help information and services Online bankruptcy assistance and consultation plus--comprehensive pros and cons with an overview of bankruptcy procedures-- plus, true stories of it's effects and benefits. We know that bad things happen to good people. Maybe you got injured or sick and couldn't work, or co-signed and the creditor didn't tell you that the payments weren't being made, or you were a victim of credit fraud, or maybe you just got in over your head and now your creditors and the bureaus are making you and your family pay for that mistake.... We don't preach-- we teach. Our goal is not to look out for the interests of the credit bureaus or creditors-- It is to provide the best information and service available for solving your issues. The decision as to how to use the information is left to you.
It is the Goal of the Solutions Network to provide the options you need to solve your issues. If you need our services, we're here to help. If you prefer to do it on your own, we'll help there too. Click Here for FREE Bankruptcy Forms. Questions? Call 877 604 6636 At The All Solutions Network, we do more than prepare your bankruptcy petition. We help prepare you for Life After Bankruptcy... The Complete Bankruptcy Package gives you all of this... Complete Bankruptcy Document Preparation so you can get a Financial Fresh Start-- We prepare all schedules, including the Federal Bankruptcy Petition plus, Schedules A, B, C, D, H, J, Statement of Financial Affairs, etc... Tri-merged credit report-- so you don't miss creditors. A complete record of all debts you owe, credit cards, car loans, real estate loans, collections, judgments, tax liens, school loans, including balances, payment amounts, creditors names and their addresses-- Saves you hours in your debt investigation.. Remember, if they are not listed in your Bankruptcy, you still owe the debt! Do It Your Self Credit Repair Kit-- see credit repair. By utilizing the techniques that we include in this 90 page book, you will be able to immediately begin to improve your credit rating and credit score, in spite of the bankruptcy. Bankruptcy Information Packet--Comprehensive, but easy to understand information that shows how to maximize the benefits of your bankruptcy by not only eliminating debts, but by reducing the amount of debt remaining on that car or furniture on which you still owe money but want to keep. In other words-- keep the car-- but get rid of half the debt. The Truth is that Bankruptcy has it's Benefits and it's Drawbacks-- but whether it is the right decision for you depends on your particular situation... For one family Bankruptcy was the only way to achieve home ownership... For another family, the failure to file, when truly necessary, almost cost them everything. To see how and why bankruptcy impacted these families' lives see "Scenarios 1 & 2" Below.
Note: The All Solutions Network provides low cost bankruptcy services in the following states. Alaska AK Alabama AL Arkansas AR Arizona AZ California CA Colorado CO Connecticut CT Washington DC Delaware DE Florida FL Georgia GA Hawaii HI Iowa IA Idaho ID Illinois IL Indiana IN Kansas KS Kentucky KY Louisiana LA Massachusetts MA Maryland MD Maine ME Michigan MI Minnesota MI Missouri MO Mississippi MS Montana North Carolina NC North Dakota ND Nebraska NE New Hampshire NH New Jersey NJ New Mexico NM Nevada NV New York NY Ohio OH Oklahoma OK Oregon OR Pennsylvania PA Rhode Island RI South Carolina SC South Dakota SD Tennessee TN Texas TX Utah UT Virginia VA Vermont VT Washington WA Wisconsin WS West Virginia WV Wyoming WY
Free online Bankruptcy help, information, service and assistance that is reliable, has become an important, but not well distributed commodity in today's society. Those who provide bankruptcy help or help you learn how to file bankruptcy cheaply without an attorney and keep all your assets-- minimize or even eliminate the loss of any assets at all to your creditors are looked on with disfavor in the business community. (This, however, is precisely our goal-- to help you file Bankruptcy and keep everything).
The huge increase in the number of filings and the resulting shrinking profits of many lenders because of bankruptcies, has resulted in substantial pressure to minimize the distribution of information showing that Bankruptcy is not, generally, especially complicated, (The average consumer absolutely does not need an attorney) or that life after bankruptcy is not as difficult as often imagined or portrayed. Even so, whether or not to file Bankruptcy is one of the most difficult decisions that a person makes in today’s society. Accurate decisions require accurate information. The things that cause people to come to a point in their life whereBankruptcy becomes something to even be considered are many varied. But at this point, we are not going to talk about how we get to that place, but rather, what to do about it-- and to inform you of the true consequences. We all know that bankruptcy is not a good thing. It goes on your credit report and stays there for 10 years, and yes, for a year or two, if you apply for a loan, you will pay a higher interest rate. There's no question, bankruptcy is rarely the ideal solution, but it is often the best solution-- and as we'll see, it also is not an economic death sentence.
Note: Recently, there has been a lot of discussion about credit improvement services. Many companies are scams-- some are reputable. Credit restoration has it's benefits and it's limitations. Often times the effective dispute of derogatory credit can eliminate the need for bankruptcy and allow you to pursue objectives you may have that are almost impossible with the derogatories still on your credit file or with a recent bankruptcy. For a comprehensive discussion of the benefits and limitations of credit restoration, click here.
Should You File? There is no magic formula that tells you whether bankruptcy is the best choice for you-- but here a few facts to consider.
You don't need bankruptcy protection now if... You have nothing that a creditor with a judgment could take from you, in either assets or income: that is, if everything you have is exempt under the laws of your state, including your source of income, you have nothing to lose to a creditor and no need for bankruptcy protection now. However, it's important to realize that just because the creditor has nothing to attach,now, does not mean that the debt can’t come back to haunt you. Are your present circumstances a temporary glitch? Will you in the future be better off? New job? Extra Income? Will you soon have your finances in place? If you file now, (while down in the dumps, so to speak), you will undoubtedly be able to keep everything--plus... in two years you will be almost blemish free with no outstanding collections, late pays, or judgments. Your credit worthiness will then be determined by your income and the credit track record you createafter the bankruptcy. If you keep a clean slate, you will again be considered a good credit risk. | WHAT IF YOU DON'T FILE? and then your situation then improves??- Your improved situation is a great thing but... In Two Years you could be faced with this-- You've weathered the storm and now have great income, living the American Dream, have newly acquired assets-- that can now be attached by all the creditors to whom YOU STILL OWE MONEY! Instead of a two year old discharge, and no existing debts, (your situation if you had filed), you still have collections and judgments and now that you have something to take, your past creditors are coming after you. (If you didn't file) and you attempt to buy a home, ( See No Down Real Estate Investment), the existence of the still owed collections and charge offs will in many cases prevent you from getting a home loan until they are paid, and at the very least will necessitate a higher interest rate and down payment. If, on the other hand, your BK is one to two years old and all debt since then has been paid flawlessly, you will again be considered a good credit risk and qualify for the best home loans available. There are even many home loan programs with low interest that will work for you SIX months out of bankruptcy. |
Need to... Earn More Money? Grow Your Existing Business? or Start a New and Exciting Career? All at No Cost? Click Here to Learn How! The Truth About Bankruptcy The decision to file is intensely personal. It is yours and yours alone. Whatever, decision you make, be certain that is made with all the facts in hand.
What I am going to do here is not necessarily give you advice but rather elaborate on a couple of scenarios that I have had with my clients while dealing with Bankruptcy, and credit related facts-- also, what I suggested that they do and the end result. Of course, how you proceed and the decisions you make are yours and yours alone. My goal is to simply help you proceed with a broader view of what bankruptcy is. Hopefully, this article will give you more relevant, real life facts to help you make a fully informed decision-- See the following true life stories of past clients.
Inevitability. File Now? or File Later? | Is doing the Right Thing the Wrong Thing for Your Family? |
Do you own a home and are in danger of losing it? See our article regarding alternatives and possible solutions to foreclosure. Remember, you rarely have to lose your home. Even though, Bankruptcy should be a last resort, if all else fails, a Chapter 13 will almost always allow you to save your home.
I had a close personal friend who came to me wanting to buy a home. During the loan process we found that he had absolutely impeccable credit. Unfortunately, his income was only slightly more than his outgo, (as in about $100 per month, and this is before food and utilities!), . My first question to him was how are you managing to make all your payments on time. I had never seen anyone so overloaded with debt while making their payments so flawlessly. He informed me that he was effectively borrowing from Peter to pay Paul. Under these circumstances, there was no way that he could qualify for a normal loan. He only wanted around an $80,000 home, but even with the $8,000 down he was getting from a settlement, he could not qualify for a conventional low rate loan. His expenses vs income was just too high. As I explained to him, with his income to debt ratios, he would never be able to buy a house. At least, not with a fixed rate or reasonable down payment. We were going to have to get creative. I then explained to him that with his situation-- Namely, the fact that every month he was going further and further into debt-- His minimum payments on the credit cards were getting larger and larger-- His income was staying relatively stagnant. He was unquestionably spiraling into the need for a bankruptcy. The only real question was would it be now or later? Here’s what we did. We used his $8,000 insurance settlement for his down payment. I persuaded the seller of the property to carry $12,000 for a term of 30 months. Now, that we only needed a loan for $60,000 on an $80,000 home, We were able to get him a loan secured by the property. It was not a good loan, but a loan, nevertheless. This loan was fixed at 6%, but for only two years. After that it would adjust to about 12%, thus increasing my friends payment by about $300 per month over the original payment. Generally, I wouldn’t negotiate this deal for my worst enemy, but we had a strategy that would insure that he would never have to pay that high interest rate. NOTE: If a person files Bankruptcy and then from the date of discharge, keeps any new or reaffirmed debts paid perfectly, for most lenders, in two years, they will be considered to again be a good credit risk. We closed the deal, he now owned the home and he then immediately filed Bankruptcy. So he discharged his unsecured debt, and reaffirmed his home and car loan. (i.e. continued to make payments on home and car). NOTE: There are now loan programs that will allow you to get a how to file bankruptcy loan within 6 months after bankruptcy or even one day with a substantial down payment. See Home Loans. At the end of two years, he had paid his remaining bills perfectly. Additionally, because he had all of the unsecured debts discharged, his monthly obligations were reduced by about $600 per month. He now had good credit and income to debt ratios that were reasonable, so he could now refinance his home and get rid of that first mortgage that was getting ready to go to 12%-- plus, because his home had appreciated, we could even pay off the $12,000 that he still owed the seller. Because his finances were now in balance I was able to get him approved for a refinance to do the above at a fixed 6% interest rate loan. Amazingly enough-- this was one of those rare situations in which the only way to accomplish the goals of home ownership for himself and his family, was Bankruptcy.
Doing the right thing is always admirable. But it has been my experience that sometimes doing the right thing for the creditors is absolutely the wrong thing for your family... I was recently contacted by a family that had been struggling with debt for 3 years. Prior to the beginning of their problems they had both had very good jobs. As with most of us, good jobs equal good lifestyle and lots of debt. Their income was such that they were not overloaded in the least.... but then he lost his job, the family income was halved for about six months. They had some 30 day lates, but nothing too serious. He finally found other employment-- just about the time that she lost her job!... Over the next three years, for both of them, employment was sporadic. In their attempt to do the “right thing”, keep their home, pay their bills, even if late, they drained not only their savings, but raided their retirement accounts (Which you can almost always keep when you file Bankruptcy), as well, which of course carried huge early withdrawal penalties, (we managed to avoid most of the penalties on an amended tax return), but the point is that they were financially drowning. At all costs, they were determined to avoid bankruptcy. They wanted to do the right thing and pay their creditors. They continued their spiral and sporadic employment for three years.
This was admirable and I respect them immensely for their integrity. But now, they have nothing left. Even their retirement is gone! Their home was in foreclosure and to keep the home, for themselves and daughter, they finally decided to file a chapter 13 bankruptcy. If they had filed two years earlier... They would now have good credit, they would still have their retirement, and they would be stress free. As it stood, we saved their home, but their retirement is forever lost and good credit is a thing that will elude them for another two years. In my opinion, the moral of the story is, if you can fix your finances, by all means, do so. But please, for your and your families sake, make an honest and objective assessment of your ability to pull out of the financial morass. If Bankruptcy is inevitable, do it now, not after your retirement is gone.
What if your income is High? Recent Bankruptcy legislation has changed Income/Debt requirements for filing bankruptcy. This has been done with the intent of minimizing the abuse of bankruptcyprotection laws. There is now a means test, but the the good news is, if you really need it, bankruptcy is still an option. For details of bankruptcy means test income requirements Click here. click here.
There are presently no income standards for filing bankruptcy. The real question asked of those filing Chapter 7 is whether the debtor has sufficient funds after payment of his necessary living expenses to repay his debts. The United States Trustee or the Chapter 7 trustee can seek to have a debtor's case dismissed for "substantial abuse" if the debtor's income is sufficient to repay a significant portion of the scheduled debts. 11 U.S.C. 707(b). The threat of dismissal is basically a coercive attempt to persuade the debtor to convert there case to a chapter 13, in which they repay all debts and arrearages over a period of 3 to 5 years. As to how effective or legally binding these attempts are, the actual law on this subject is simply not well developed and the attitudes of trustees and judges about what is "abusive" varies from district to district. This concept does not apply to Chapter 7 debtors whose debts are primarily business debts, tax debt, or to those filing Chapter 13. The Real Question is-- Do you need to file bankruptcy? Deciding to file bankruptcy can be a tough decision. Almost everyone confronting the decision vacillates back and forth. The constant struggle to pay your debts and "do the right thing" versus just starting over. Ultimately it's a question that only you can answer, but if you feel compelled to do the "right" thing, please.... Think hard before resorting to liquidating IRA's or 401K plans to pay creditors: these assets are generally protected from collection actions by creditors; they are hard to replenish once spent; but most importantly, using retirement savings to pay creditors may create new debt in the form of income taxes and penalties for early withdrawal. Often times your good intentions will just substitute your creditor from that of some lender to the IRS. Given the choice, most people would rather owe the bank. Can you avoid bankruptcy with outside help? If you can't pay off your debt within three years on the present terms, contact a Consumer Credit Counselor or a similar organization; they can help you make a budget and negotiate a repayment plan that may include a reduced or even zero interest rate on your existing debt. Creditors generally cease collection actions against those participating in CCC plans. Consider bankruptcy: If these repayment alternatives are not feasible, then consider bankruptcy. If you feel that you've exhausted your options and that Bankruptcy is the most appropriate remedy for you circumstances, Click Here for an overview of the actual process. Note: The All Solutions Network provides low cost bankruptcy in Alaska bankruptcy in Alabama bankruptcy in Arkansas bankruptcy in Arizona bankruptcy in California bankruptcy in Colorado bankruptcy in Connecticut bankruptcy in Washington DC bankruptcy in Delaware bankruptcy in Florida bankruptcy in Georgia bankruptcy in Hawaii bankruptcy in Iowa bankruptcy in Idaho bankruptcy in Illinois bankruptcy in Indiana bankruptcy in Kansas bankruptcy in Kentucky bankruptcy in Louisiana bankruptcy in Massachusetts bankruptcy in Maryland bankruptcy in Maine bankruptcy in Michigan bankruptcy in Minnesota bankruptcy in Missouri bankruptcy in Mississippi bankruptcy in Montana bankruptcy in North Carolina bankruptcy in North Dakota bankruptcy in Nebraska bankruptcy in New Hampshire bankruptcy in New Jersey bankruptcy in New Mexico bankruptcy in Nevada bankruptcy in New York bankruptcy in Ohio bankruptcy in Oklahoma bankruptcy in Oregon bankruptcy in Pennsylvania bankruptcy in Rhode Island bankruptcy in South Carolina bankruptcy in South Dakota bankruptcy in Tennessee bankruptcy in Texas bankruptcy in Utah bankruptcy in Virginia bankruptcy in Vermont bankruptcy in Washington bankruptcy in Wisconsin bankruptcy in West Virginia bankruptcy in Wyoming
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