#Chapter 13 Bankruptcy Attorney Eligibility

[wedesignyouny]

Speak with Our Long Island Bankruptcy Lawyer Today to Get a New Financial Start!

Speak with Our Long Island Bankruptcy Lawyer Today to Get a New Financial Start!

Are you struggling to make ends meet while facing overwhelming debt? A bankruptcy lawyer or attorney on Long Island could help you through the difficult process of declaring bankruptcy. Finding an experienced and competent lawyer who can guide you through the process and help you start over is essential, regardless of whether you are thinking about filing for Chapter 7 or Chapter 13 bankruptcy.

Bankruptcy: What is it?

A legal procedure called bankruptcy enables people or companies to get rid of or restructure their debt. Although there are many forms of bankruptcy, Chapter 7 and Chapter 13 bankruptcy are the most prevalent for people. While Chapter 13 bankruptcy is setting up a repayment plan that enables you to pay off your obligations over time, Chapter 7 bankruptcy involves selling assets to satisfy creditors.

Benefits of Bankruptcy Filing

Although declaring bankruptcy can be a challenging choice, there are several benefits to doing so. For instance, filing for bankruptcy can help you get rid of some debt, stop receiving harassment from creditors, and prevent foreclosure or repossession. Furthermore, filing for bankruptcy might give you a fresh start and the opportunity to reestablish your credit and financial security.

Locating a Lawyer or Attorney for Bankruptcy on Long Island

It's critical to locate a Long Island bankruptcy lawyer or attorney with extensive experience practicing bankruptcy law. This entails locating an individual who is knowledgeable about both the intricacies of New York State bankruptcy law and the bankruptcy court system. Additionally, you want to seek out a lawyer who is prepared to listen to you explain your particular financial circumstances and offer tailored counsel.

A Long Island Bankruptcy Lawyer's or Attorney's Benefits

Employing a bankruptcy lawyer or attorney on Long Island has several advantages. An attorney, for instance, can assist you in deciding which kind of bankruptcy is best for you, evaluating your eligibility for bankruptcy, and assisting you with the bankruptcy procedure. A lawyer can also help you with any legal difficulties that may come up during the bankruptcy procedure and represent you in court.

In summary

In the event that you are facing excessive debt and are thinking about declaring bankruptcy, a bankruptcy lawyer or attorney on Long Island can assist you in navigating the procedure and getting a fresh start. You may take charge of your finances and proceed with confidence by locating a skilled and experienced lawyer who is committed to offering individualized counsel and direction. A Long Island bankruptcy lawyer or attorney may assist you in achieving the necessary financial stability and peace of mind, regardless of whether you are thinking about filing for Chapter 7 or Chapter 13 bankruptcy.

Professionals at Pryor & Mandelup, LLP can be reached in two ways. To get a free service quotation and to complete out a simple questionnaire, you may visit their official website at https://pryormandelup.com/ or give them a call at (516) 997-0999.

[etiennekissborlase]

Celsius Web Services: The Billion-Dollar Plan That Could Have Saved The Network From Bankruptcy

Celsius Web Services: The Billion-Dollar Plan That Could Have Saved The Network From Bankruptcy https://bitcoinist.com/celsius-the-billion-dollar-saved-network-bankruptcy/ According to a report from The Block, Celsius Network, a cryptocurrency lending company that filed for Chapter 11 bankruptcy last year, had attempted to raise $1 billion for a project called Celsius Web Services (CWS). CWS aimed to offer generic versions of Celsius’s yield and custody-focused products and was described as a “web3 toolbox for a New World” in pitch decks presented to Goldman Sachs and Abu Dhabi-backed fund ADQ May and June 2021, respectively. Former Celsius CEO’s Plan Celsius’s former CEO, Alex Mashinsky, spearheaded the CWS plan, but the project failed to get off the ground as investors, including Celsius’s board, chose not to participate. Mashinsky had hoped to pivot Celsius away from its core crypto lending business and create the “Amazon Web Services of crypto” with CWS. The CWS plan was seen as a last-ditch effort by Mashinsky to save the company, as employees openly expressed concerns about Celsius’s financial health in May 2021. However, according to The Block, Mashinsky continued to assure customers that all was well. Mashinsky was later hit with a civil lawsuit by New York attorney general Letitia James, who accused him of misleading investors about the health of Celsius. Mashinsky dismissed the fraud claims as “baseless.” Celsius’s lending business ultimately led to its downfall as the company froze withdrawals on June 12, 2021, and filed for bankruptcy a month later. Over 100,000 users were owed over $4.7 billion. Despite Mashinsky’s efforts to launch new products and pivot the company, CWS couldn’t save Celsius from bankruptcy. The CWS plan was also likened to Plaid, a fintech startup that helps customers connect their financial data to new apps and services, by a second source close to Celsius. While the CWS plan did not come to fruition, it offers insight into how Mashinsky hoped to save the company. The plan involved white-labeling Celsius’s products and offering services for business transformation and growth. The types of services in the pitch deck included yield, custody, on-ramp services, and a tool for bridging centralized and decentralized ecosystems. The CWS project had the board’s and external investors’ full backing, but ultimately, Celsius’s existing investors chose not to participate. The Network’s Custody Settlement Withdrawals For Eligible Users On May 9th, Celsius Network announced that withdrawals have begun for eligible Custody account users who have opted into the Custody Settlement. The settlement was authorized by the Court last month and allowed users to receive a distribution of their assets in exchange for electing not to pursue any Custody-related claims or causes of action against Celsius and for voting their Custody claims in favor of the Plan. Last month, the Court authorized our settlement with the UCC and Custody Ad Hoc Group. Today, withdrawals begin for those who have opted in to the Settlement. — Celsius (@CelsiusNetwork) May 9, 2023 Furthermore, according to the announcement, the distribution of eligible assets will be carried out in two stages. The first distribution consists of 36.25% of each settling Custody account holder’s Custody account balance. Users can withdraw their assets once all account information is updated and verified. Moreover, the Network has provided a Custody Account Withdrawal FAQ for users seeking more information. Featured image from iStock, chart from TradingView.com via Bitcoinist.com https://bitcoinist.com May 13, 2023 at 02:00AM

[woodcarlton01]

Wood & Carlton, P.C.: Legal Expertise and Client-Centered Services

Wood & Carlton, P.C. is a distinguished law firm known for its client-centered approach and high standards of legal representation. Specializing in personal injury, social security disability, and bankruptcy law, the firm provides comprehensive legal services designed to meet the needs of individuals facing challenging legal circumstances. With years of experience and a commitment to personalized care, Wood & Carlton, P.C. has built a reputation for effective advocacy and compassionate client service.

Areas of Specialization

Personal Injury Law

One of the primary focuses of Wood & Carlton, P.C. is personal injury law. The firm represents clients who have been injured due to accidents, negligence, or wrongful conduct. Whether it's a car accident, slip-and-fall incident, or workplace injury, the lawyers at Wood & Carlton, P.C. ensure that clients receive the compensation they deserve.

The firm works diligently to investigate the details of each case, gathering evidence and working with experts to build a solid legal strategy. Clients can expect guidance through the often complicated claims process, including dealing with insurance companies and negotiating settlements. If necessary, the attorneys at Wood & Carlton, P.C. are fully prepared to take cases to trial to secure the best possible outcome for their clients.

Social Security Disability (SSD) Law

Navigating the complexities of social security disability benefits can be overwhelming, especially for individuals dealing with serious health conditions. Wood & Carlton, P.C. assists clients in filing for social security disability benefits, helping them understand eligibility requirements, and ensuring they submit the necessary documentation to support their claims.

In cases where initial claims are denied, the firm offers legal support for appeals. Wood & Carlton, P.C. has extensive experience representing clients in social security disability hearings, working to prove their medical conditions meet the criteria set by the Social Security Administration (SSA). This expertise helps clients avoid the frustration of navigating the process alone.

Bankruptcy Law

Financial difficulties can be stressful and overwhelming. Wood & Carlton, P.C. offers legal counsel to individuals facing significant debt and needing relief through bankruptcy. The firm provides a thorough evaluation of each client’s financial situation to determine whether Chapter 7 or Chapter 13 bankruptcy is the best option.

The attorneys assist clients in filing the necessary paperwork, communicating with creditors, and ensuring that clients understand their legal rights and options. Wood & Carlton, P.C. focuses on helping clients get a fresh financial start by relieving them from the burden of unmanageable debt while protecting their assets when possible.

Client-Centered Approach

Wood & Carlton, P.C. stands out not only for its legal expertise but also for its dedication to client satisfaction. The firm understands that legal matters involving personal injury, disability, or bankruptcy can be emotionally and financially draining. To ease this burden, Wood & Carlton, P.C. fosters open communication, providing clients with regular updates and transparent advice at every stage of their case.

Each client receives individualized attention, with attorneys working to understand their unique needs and concerns. This personalized approach allows Wood & Carlton, P.C. to offer tailored legal strategies that align with each client’s best interests.

[jaxdebtrelief]

Debt Settlement vs. Bankruptcy: Which is Right for You?

Navigating financial distress can be overwhelming, and choosing the best path to debt relief is a critical decision. For those facing significant debt, two common options are debt settlement and bankruptcy. Each approach has its advantages and challenges, and determining which is right for you depends on your unique financial situation. At Higginbotham Bankruptcy Law Firm, we are committed to helping you understand your options so that you can make an informed choice. In this guide, we will explore the differences between debt settlement and bankruptcy and provide insights into which option may be best suited for your needs.

Understanding Debt Settlement

What is Debt Settlement?

Debt settlement involves negotiating with creditors to reduce the total amount of debt you owe. This process often requires the assistance of a debt settlement company or attorney who will negotiate on your behalf. The goal is to reach an agreement with your creditors to pay a lump sum that is less than the full amount of your debt.

Pros and Cons of Debt Settlement

Debt settlement can be an attractive option for individuals who want to avoid the formal legal process of bankruptcy. Some benefits of debt settlement include:

Reduced Debt: You may be able to settle your debts for a fraction of what you owe.

Avoid Bankruptcy: Debt settlement allows you to avoid the stigma and potential consequences of bankruptcy.

Control Over Assets: Unlike bankruptcy, debt settlement typically doesn’t involve liquidating your assets.

However, there are also some drawbacks to consider:

Impact on Credit: Debt settlement can negatively impact your credit score, as it typically involves stopping payments while negotiations are ongoing.

Tax Implications: The forgiven debt may be considered taxable income, leading to potential tax liabilities.

No Guaranteed Results: There is no guarantee that creditors will agree to a settlement.

Understanding Bankruptcy

What is Bankruptcy?

Bankruptcy is a legal process that allows individuals and businesses to eliminate or restructure their debts under the protection of the federal bankruptcy court. There are different types of bankruptcy, with Chapter 7 and Chapter 13 being the most common for individuals.

Chapter 7 Bankruptcy: Also known as liquidation bankruptcy, Chapter 7 involves the sale of non-exempt assets to repay creditors. Remaining eligible debts are then discharged.

Chapter 13 Bankruptcy: This type of bankruptcy allows individuals to reorganize their debts into a manageable repayment plan over three to five years.

Pros and Cons of Bankruptcy

Bankruptcy offers a comprehensive solution to overwhelming debt, but it also has its own set of advantages and disadvantages:

Debt Discharge: Bankruptcy can eliminate most unsecured debts, providing a fresh financial start.

Legal Protection: An automatic stay is issued upon filing for bankruptcy, halting all collection activities and creditor harassment.

Structured Repayment: Chapter 13 bankruptcy allows for a structured repayment plan, helping you retain important assets like your home.

Despite these benefits, there are also potential downsides:

Credit Impact: Bankruptcy will significantly impact your credit score and remain on your credit report for up to 10 years.

Public Record: Bankruptcy filings are public records, which may be a concern for some individuals.

Eligibility Requirements: Not everyone qualifies for Chapter 7 bankruptcy, and Chapter 13 requires a stable income to complete the repayment plan.

Choosing the Right Option for You

Assessing Your Financial Situation

The decision between debt settlement and bankruptcy should be based on a careful assessment of your financial situation. Consider the following factors:

Total Debt Amount: Evaluate the total amount of debt you owe and your ability to repay it through settlement or a repayment plan.

Income and Assets: Consider your current income and assets, as these will influence your eligibility for different debt relief options.

Long-Term Goals: Think about your long-term financial goals and how each option aligns with those objectives.

Consulting with a Professional

Given the complexity of debt relief options, consulting with a professional is crucial. At Higginbotham Bankruptcy Law Firm, our experienced attorneys can help you evaluate your financial situation and determine the best course of action. We provide personalized guidance to ensure you understand the implications of each option and make an informed decision.

Making an Informed Decision

Ultimately, the decision between debt settlement and bankruptcy depends on your specific circumstances. Debt settlement may be a suitable choice if you can negotiate favorable terms with creditors and are willing to accept the potential credit impact. On the other hand, bankruptcy may be the best option if you need a comprehensive solution to eliminate overwhelming debt and are prepared to accept its long-term effects on your credit.

Conclusion

Facing financial difficulties can be daunting, but understanding your options is the first step toward regaining control of your finances. Whether you choose debt settlement or bankruptcy, the key is to make an informed decision based on your unique financial situation. At Higginbotham Bankruptcy Law Firm, we are here to support you throughout the process and provide expert guidance to help you achieve a brighter financial future.

If you have questions or need assistance exploring your debt relief options, contact Higginbotham Bankruptcy Law Firm today. Our experienced attorneys are dedicated to helping you find the best solution for your financial needs and helping you navigate the path to financial recovery.

[freedomlegalteam0]

Unlocking Financial Freedom with Freedom Law Firm's Chapter 7 Bankruptcy Services

In today's economic landscape, many individuals and businesses face financial challenges that seem insurmountable. Mounting debts, creditor harassment, and the looming threat of foreclosure or repossession can create immense stress and anxiety. However, there is a solution that offers a fresh start and a pathway to financial freedom: Chapter 7 bankruptcy.

At Freedom Law Firm, we understand the difficulties our clients face when they are overwhelmed by debt. That's why we specialize in providing compassionate and comprehensive Chapter 7 bankruptcy services to help individuals and businesses regain control of their finances and move forward with confidence.

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, also known as "liquidation bankruptcy," is a legal process designed to eliminate most unsecured debts and provide individuals and businesses with a clean slate. Under Chapter 7, eligible assets may be sold (liquidated) to repay creditors, but many debts can be discharged entirely, providing a fresh start for the debtor.

How Freedom Law Firm Can Help

Navigating the complexities of Chapter 7 bankruptcy can be daunting, but with the guidance and support of Freedom Law Firm, clients can feel confident in their journey toward financial freedom. Our experienced bankruptcy attorneys have a deep understanding of the bankruptcy laws and will work tirelessly to ensure that our clients' rights are protected every step of the way.

Here's how we can assist you:

Comprehensive Evaluation:

We start by conducting a thorough review of your financial situation to determine if Chapter 7 bankruptcy is the right solution for you. We'll assess your debts, assets, income, and expenses to develop a customized strategy that meets your needs.

Guidance and Support:

Throughout the bankruptcy process, our dedicated team will provide you with guidance and support to ensure that you understand your rights and responsibilities. We'll answer your questions, address your concerns, and advocate on your behalf to achieve the best possible outcome.

Debt Discharge:

One of the primary benefits of Chapter 7 bankruptcy is the discharge of qualifying debts, such as credit card debt, medical bills, personal loans, and more. We'll help you navigate the complex rules and requirements to maximize the amount of debt that can be discharged, allowing you to achieve true financial freedom.

Protection from Creditors:

Filing for Chapter 7 bankruptcy triggers an automatic stay, which halts most creditor actions, including lawsuits, wage garnishments, foreclosure proceedings, and collection calls. This provides immediate relief from creditor harassment and gives you the breathing room you need to focus on rebuilding your financial future.

Post-Bankruptcy Guidance:

Even after your debts have been discharged, our commitment to your success doesn't end. We'll provide you with valuable resources and guidance to help you rebuild your credit, manage your finances responsibly, and avoid future financial pitfalls.

Take the First Step Towards Financial Freedom

If you're struggling with overwhelming debt and seeking relief, don't wait any longer to take control of your financial future. Contact Freedom Law Firm today to schedule a consultation with one of our experienced bankruptcy attorneys. We'll listen to your concerns, explain your options, and empower you to make informed decisions about your financial future. With our help, you can overcome your financial challenges and embark on a path towards a brighter tomorrow.

For more info :-

Freedom Law Firm Chapter 7

Freedom Law Firm Chapter 13

Freedom Legal Team

[goldfinch58]

Navigating Immigration and Bankruptcy: Understanding Your Legal Options

When life takes unexpected turns, bankruptcy lawyer austin knowing your legal options becomes crucial for weathering the storm. At Lincoln-Goldfinch Law, our focus is on providing guidance and representation in areas of immigration law and financial distress. Whether you are seeking a fresh start through Chapter 7 Bankruptcy or navigating the intricate immigration & naturalization service process, understanding your rights and available paths is the first step towards regaining control.

1. Immigration Assistance: The journey towards obtaining legal status in the United States can be complex, with various forms, deadlines, and regulations to consider. Our dedicated attorneys are well-versed in handling cases for asylum/refugees, green cards, citizenship applications, employers' compliance with immigration laws, DACA (Deferred Action for Childhood Arrivals), adjustment of status for those already residing in the U.S., and even appeals against unfavorable decisions. Each client's situation is unique; we provide individualized strategies to ensure the best possible outcome.

2. Deportation Defense: Facing deportation can be frightening and overwhelming. We offer compassionate yet determined legal support to those at risk of being removed from the United States. From presenting robust defense strategies during deportation proceedings to filing for necessary appeals, our team works tirelessly to protect clients' rights to remain with their families and communities.

3. Bankruptcy Guidance: Financial difficulties do not have to define your future. In choosing between Chapter 7 Bankruptcy—a liquidation process that can discharge most unsecured debts—and Chapter 13 Bankruptcy—a reorganization plan allowing debtors to make manageable payments over time—our bankruptcy attorney will help determine which option aligns with your circumstances. Your journey toward financial recovery could include putting a halt to evictions or foreclosures while you get back on your feet.

4. Citizen Pathway Navigation: For those pursuing citizenship through naturalization, we provide comprehensive services from initial consultation through application preparation and guidance throughout the interview process. Understanding each eligibility requirement ensures no missteps on your path to becoming a U.S citizen.

Lincoln-Goldfinch Law addresses each case with empathy and precision because we acknowledge how life-changing achieving legal immigration status or overcoming debt can be. With our expertise in both immigration attorney services and bankruptcy assistance under one roof, clients can expect holistic support attuned to their specific needs without compromising care quality in either area.

Choosing the right attorney isn't just about finding legal expertise—it's about partnering with someone who understands where you are now and where you want to be tomorrow. Lincoln-Goldfinch Law is committed to guiding clients through some of their most challenging moments by providing knowledge, experience, and unwavering support every step of the way.

Contact us Lincoln-Goldfinch Law Address: 1005 E 40th St, Austin, TX, 78751 Hours: Sunday :Closed Monday :09:00 - 17:00 Tuesday :09:00 - 17:00 Wednesday :09:00 - 17:00 Thursday :09:00 - 17:00 Friday :09:00 - 17:00 Saturday :Closed Phone :(855) 502-0555 Company Email : wedontpublicdisplayanyemailaddress@pleasedont.com Map : https://maps.app.goo.gl/DQ4Jt2E8SWDNYPh39

[freshstartlaw]

At Fresh-Start.Law, P.A., our Florida Chapter 13 lawyers specialize in guiding clients through the intricacies of bankruptcy, offering expert legal counsel and tailored solutions for a financial fresh start. If you need a Bankruptcy attorney contact us at 877-595-0942.

[damonsalvatore9815]

Local Lifelines: Your Guide to a Bankruptcy Lawyer Near You

Understanding Bankruptcy:

A legal procedure called bankruptcy is intended to provide financial relief to people and corporations who are drowning in debt. Federal rules govern bankruptcy, which is a court-supervised process designed to help people who are having financial difficulties get a fresh start by either eliminating or reorganizing debt.

There are various forms of bankruptcy; for people, Chapters 7 and 13 are the most prevalent. While Chapter 13 permits the creation of a realistic repayment plan over a predetermined length of time, Chapter 7 deals with the liquidation of non-exempt assets to pay creditors.

Making the decision to file for bankruptcy is difficult and depends on a number of variables, including debt kind, assets, and income. In addition to providing a route to financial recovery, bankruptcy can result in the discharge of some debts and provide protection from creditor actions like foreclosure or repossession.

To fully understand the process and make sure all legal criteria are fulfilled, it is imperative to speak with a knowledgeable bankruptcy attorney. They can offer advice on eligibility and which chapter to file under. A more stable financial future is made possible by having an understanding of bankruptcy, which enables people and organizations to make wise decisions.

Why Hire a Lawyer for Bankruptcy:

The complex legal procedures involved in filing for bankruptcy make hiring legal counsel imperative. Because bankruptcy law is complicated, having an experienced lawyer at your side can help people or businesses navigate the process. Their expertise guarantees that customers are aware of the consequences of submitting, the requirements for eligibility, and which chapter best fits their particular financial circumstances.

By guiding clients through the mountain of paperwork needed for a successful filing, a bankruptcy lawyer lowers the possibility of mistakes that could endanger the case. They also represent their clients in court, handling any issues that come up, including creditor objections and legal complexities.

Local bankruptcy attorneys adapt their strategy to suit regional needs by bringing a sophisticated understanding of state-specific legislation and court procedures. They offer tailored guidance, evaluate the client's financial situation, and plan the most effective debt relief strategy.

Hiring a bankruptcy lawyer is essentially an investment in legal knowledge that greatly raises the chances of a successful conclusion, guaranteeing a quicker and more efficient way to get out of financial trouble.

Qualities to Look for in a Bankruptcy Lawyer:

Give experience managing bankruptcy cases—as shown by a strong track record and client endorsements—top priority when looking for a bankruptcy attorney. Make sure the attorney communicates well and can clearly explain complicated legal concepts. An open and sincere working relationship depends on transparency regarding legal fees and arrangements. Select a lawyer that has a track record of excellence in the legal field, as well as one who is approachable, professional, and will give your case first priority and swiftly return your calls. Ultimately, to help you navigate the process and get the best result for your financial circumstances, a skilled bankruptcy attorney blends legal knowledge with people skills.

Local Regulations and Bankruptcy:

The bankruptcy procedure is significantly shaped by local legislation, which require careful consideration of regional differences due to their added complexity. People should consult a local bankruptcy counsel who is knowledgeable about state-specific legislation as they impact eligibility requirements, exemptions, and procedural factors. Understanding these nuances is essential for a successful lawsuit as courts may have unique filing requirements and procedures. The kinds of property that are protected in bankruptcy may also be impacted by local laws, which could have an effect on asset retention.

It's important to be informed about court rulings and legislative developments that may have an impact on bankruptcy procedures in order to navigate local restrictions. Hiring a bankruptcy attorney who is well-versed in these local nuances increases the chances of a successful conclusion and guarantees compliance with all applicable regulations. Lawyers can effectively handle jurisdiction-specific problems and give their clients the best possible counsel during the bankruptcy procedure by customizing their techniques to match local regulations.

Common Challenges in Bankruptcy Cases:

Cases involving bankruptcy frequently face a variety of obstacles that must be carefully navigated. Creditor objections are frequent, in which the creditor questions the filing's validity or contests the discharge of a particular debt. To safeguard the debtor's rights, responding to these concerns necessitates a calculated strategy and legal knowledge. Unexpected problems can happen, including adjustments to one's financial situation or legal developments, necessitating quick thinking and proactive fixes.

Another problem is making sure that debts are discharged smoothly, particularly in Chapter 13 instances where a structured repayment plan is involved. Successful debt relief depends on adherence to the plan's requirements. In order to lessen these difficulties, bankruptcy attorneys are essential because they can provide direction, engage in negotiations with creditors, and, if needed, represent their clients in court.

[jaxdebtrelief]

Bankruptcy: Providing Relief from Overwhelming Debt in Jacksonville

In the bustling city of Jacksonville, financial challenges can arise unexpectedly, leaving individuals and businesses grappling with overwhelming debt burdens. Amidst such circumstances, understanding the role of bankruptcy becomes crucial in providing relief and paving the way toward financial recovery. At Higginbotham Bankruptcy Law Firm, we specialize in navigating clients through the complexities of bankruptcy law, offering tailored solutions to help alleviate financial stress and secure a brighter financial future.

Exploring Bankruptcy Options

When faced with mounting debt and financial hardship, exploring bankruptcy options can offer a lifeline for individuals and businesses alike. Bankruptcy is a legal process designed to help debtors manage or eliminate debt, providing a structured framework for debt resolution while offering protection from creditor actions. Within Jacksonville's dynamic economic landscape, knowing how bankruptcy can serve as a viable solution is paramount.

Chapter 7 Bankruptcy: Liquidation and Debt Discharge

One of the primary avenues for individuals seeking relief from overwhelming debt is Chapter 7 bankruptcy. Also known as liquidation bankruptcy, Chapter 7 involves the sale of non-exempt assets to repay creditors, followed by the discharge of remaining eligible debts. For individuals in Jacksonville struggling with unmanageable debt loads and limited income, Chapter 7 can provide a fresh start by wiping out qualifying debts such as credit card balances, medical bills, and personal loans.

Chapter 13 Bankruptcy: Repayment Plans and Debt Restructuring

For those with a regular income but facing foreclosure, wage garnishment, or other financial challenges, Chapter 13 bankruptcy offers an alternative path toward debt relief. Through Chapter 13, individuals can create a court-approved repayment plan spanning three to five years, allowing them to catch up on missed mortgage payments, car loans, and other secured debts while potentially reducing unsecured debt amounts. In Jacksonville, Chapter 13 serves as a strategic tool for debt restructuring and regaining financial stability.

Bankruptcy and Foreclosure Defense in Jacksonville

In a region where homeownership is a significant aspect of financial stability, the intersection of bankruptcy and foreclosure defense holds immense relevance. Many individuals facing foreclosure due to job loss, medical emergencies, or other unforeseen circumstances can benefit from the protective measures afforded by bankruptcy law. By filing for bankruptcy, homeowners in Jacksonville can halt foreclosure proceedings through an automatic stay, providing valuable time to explore alternatives such as loan modifications or short sales.

Navigating Bankruptcy Law with Higginbotham Bankruptcy Law Firm

At Higginbotham Bankruptcy Law Firm, we recognize that each client's financial situation is unique, requiring personalized strategies and diligent advocacy. Our team of experienced bankruptcy attorneys in Jacksonville is committed to guiding clients through every step of the bankruptcy process, from initial consultations to case resolution. We prioritize clear communication, legal expertise, and compassionate support, ensuring that clients feel empowered and informed throughout their journey towards debt relief.

Bankruptcy: A Path to Financial Renewal

In the realm of financial challenges, bankruptcy often emerges as a beacon of hope, offering individuals and businesses the opportunity to reset their financial trajectory. For residents of Jacksonville grappling with overwhelming debt, bankruptcy serves as more than just a legal process—it represents a chance for renewal and a fresh start. At Higginbotham Bankruptcy Law Firm, we believe in the transformative power of bankruptcy, guiding our clients toward brighter financial horizons with expertise, empathy, and unwavering dedication.

Understanding Bankruptcy's Impact on Credit and Assets

One of the common concerns individuals have about filing for bankruptcy is its impact on credit scores and assets. While bankruptcy does have implications on credit reports and asset liquidation, its long-term benefits often outweigh these concerns. In Jacksonville, our bankruptcy attorneys work closely with clients to assess the potential consequences of bankruptcy, offering insights into credit-rebuilding strategies and asset protection measures to minimize adverse effects.

Debunking Bankruptcy Myths and Misconceptions

Navigating the complexities of bankruptcy can be daunting, compounded by myths and misconceptions that abound in public discourse. At Higginbotham Bankruptcy Law Firm, we strive to debunk common bankruptcy myths and provide clients in Jacksonville with accurate, reliable information. From dispelling fears of losing all possessions to explaining the nuances of bankruptcy exemptions, our goal is to ensure that clients make informed decisions based on facts rather than misconceptions.

Bankruptcy as a Legal Tool for Debt Relief and Protection

Beyond its immediate impact on debt discharge and creditor actions, bankruptcy offers valuable legal protections that can safeguard individuals and businesses from further financial turmoil. The automatic stay, for instance, halts collection efforts, creditor harassment, and foreclosure proceedings, granting breathing room for debtors to regroup and strategize. In Jacksonville's competitive economic landscape, understanding these legal protections is essential for leveraging bankruptcy effectively.

The Role of Legal Expertise in Bankruptcy Proceedings

Navigating the intricacies of bankruptcy law requires a deep understanding of legal statutes, court procedures, and case precedents. At Higginbotham Bankruptcy Law Firm, our attorneys bring years of specialized experience in bankruptcy law to the table, ensuring that our clients receive comprehensive legal representation. From conducting thorough financial analyses to advocating for favorable outcomes in bankruptcy court, our team is committed to securing the best possible results for our clients in Jacksonville.

Conclusion: Partnering for Financial Success

In conclusion, the role of bankruptcy in providing relief from overwhelming debt in Jacksonville extends far beyond legal processes—it embodies a journey of financial renewal and empowerment. At Higginbotham Bankruptcy Law Firm, we stand as trusted partners in this journey, offering expertise, compassion, and unwavering advocacy to help our clients reclaim their financial freedom. Whether facing Chapter 7 liquidation, Chapter 13 reorganization, or foreclosure defense challenges, we are dedicated to navigating the complexities of bankruptcy law with integrity and diligence. Together, we can turn the tide on financial hardship and pave the way for a brighter, debt-free future.

[aquilaresources]

Credit Card Debt Forgiveness for Disabled

Credit card debt can be a significant financial burden for many people, and it becomes even more challenging for disabled individuals who often face additional financial constraints. Fortunately, credit card debt forgiveness programs are available to help those in need.

In this article, we'll explore Credit Card Debt Forgiveness for Disabled, and specifically how disabled individuals can navigate these programs.

What Is Credit Card Debt Forgiveness?

Credit card debt forgiveness, or debt relief or debt forgiveness, refers to the partial or complete cancellation of outstanding credit card balances. This typically occurs through negotiations with creditors, government programs, or legal processes like bankruptcy. Debt forgiveness can give individuals a fresh start, freeing them from unmanageable debt.

Also, Read: Personal Loans for Seniors on Social Security

How To Get Credit Card Debt Forgiveness?

To obtain credit card debt forgiveness, individuals generally follow these steps:

Assess Your Financial Situation: Start by reviewing your finances to determine the severity of your debt problem.

Contact Your Creditors: Communicate with your credit card companies to discuss your situation. They may offer repayment plans, reduced interest rates, or debt settlement options.

Seek Credit Counseling: Consult a credit counselor who can help you develop a debt management plan or negotiate with creditors on your behalf.

Consider Bankruptcy: Explore bankruptcy as a last resort if other options fail. Chapter 7 and Chapter 13 bankruptcy can discharge or restructure credit card debt.

How to Get Credit Card Debt Forgiveness for Disabled?

Keep your assets safe.

Disabled individuals must protect their assets when pursuing debt forgiveness. Depending on your state and the type of disability benefits you receive, certain assets may be exempt from creditors. Consult with an attorney or financial advisor to understand your specific situation.

Don't let debt collectors harass you.

Disabled individuals have legal protections against harassment from debt collectors. The Fair Debt Collection Practices Act (FDCPA) prohibits abusive collection practices, and disabled individuals should know their rights and report any violations.

Financial hardship relief may be available from your creditor

Contact your credit card issuer to inquire about financial hardship programs. Many creditors offer temporary relief, such as reduced interest rates or minimum payments, to borrowers facing financial hardship due to disability or other reasons.

Also, See: 5 Best Prepaid Credit Cards To Build Credit

What are the challenges that disabled individuals face?

Disabled individuals encounter various financial challenges, including:

Medical Expenses: High medical costs can lead to debt accumulation.

Limited Income: Disabilities can limit employment opportunities, resulting in lower income.

Specialized Needs: Adaptations like mobility aids and home modifications can be expensive.

Caregiver Costs: Hiring caregivers or support services can strain finances.

Discrimination: Bias and discrimination may affect employment and financial opportunities.

Credit Card Debt Forgiveness for Disabled Programs

Several programs may help disabled individuals obtain credit card debt forgiveness:

Social Security Disability Insurance (SSDI): While not a debt forgiveness program, SSDI provides financial support to disabled individuals, helping them meet basic needs and potentially manage debt.

Supplemental Security Income (SSI): SSI offers financial assistance to disabled individuals with limited income and resources.

Debt Relief Programs: Some nonprofit organizations provide financial assistance and debt relief programs tailored to disabled individuals.

Eligibility Criteria for Credit Card Debt Forgiveness for Disabled Programs

Eligibility criteria vary, but often include:

Proof of disability, such as a medical diagnosis or disability benefits.

Limited income and resources.

Demonstrated inability to repay debt.

Compliance with program requirements.

Also, See: Credit Cards with $3000 Limit Guaranteed Approval

Steps for Credit Card Debt Forgiveness for Disabled

To seek credit card debt forgiveness as a disabled individual, follow these steps:

Gather documentation proving your disability.

Contact creditors to explain your situation.

Explore government assistance programs like SSDI or SSI.

Consult a credit counselor or attorney.

Consider nonprofit organizations specializing in debt relief.

Bankruptcy should be a last resort, explored with legal advice.

FAQs

Q1. Can I get credit card debt forgiveness without declaring bankruptcy? 

Yes, there are alternatives to bankruptcy, such as negotiating with creditors, debt management plans, and government assistance programs.

Q2. Will pursuing credit card debt forgiveness affect my credit score? 

Negotiating with creditors or enrolling in a debt management plan may temporarily impact your credit score, but it's often less damaging than bankruptcy.

Q3. How long does the credit card debt forgiveness process take? 

The timeline varies depending on your circumstances but can range from a few months to several years.

Q4. Are there any tax implications for forgiven debt? 

In some cases, forgiven debt can be considered taxable income. Consult with a tax professional for guidance on your specific situation.

Q5. What are my rights when dealing with debt collectors as a disabled individual? 

You have rights protected under the FDCPA, which include the right to request verification of the debt and the right to be free from harassment and deceptive practices. Report any violations to the appropriate authorities.

Conclusion

Credit card debt forgiveness offers hope and relief to disabled individuals struggling financially. By understanding the available programs' eligibility criteria and following the necessary steps, disabled individuals can work toward alleviating the burden of credit card debt and achieving financial stability. Additionally, it's crucial to stay informed about legal protections and rights when dealing with debt collectors to ensure a fair and just resolution to your financial situation.

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Understanding Bankruptcy and Debt Consolidation

Bankruptcy and debt consolidation are two options that individuals can consider when facing financial difficulties. It is important to fully comprehend the implications of each choice before making a decision. This article will provide an overview of bankruptcy and debt consolidation, including how they work and their impact on finances.

1. Bankruptcy

1.1 What is Bankruptcy? Bankruptcy is a legal process that can eliminate or restructure debts for individuals who are unable to pay them. It provides a fresh start but can have long-term effects on creditworthiness.

1.2 Types of Bankruptcy There are two common types of bankruptcy: Chapter 7 and Chapter 13. Chapter 7 involves selling assets to pay off debts, while Chapter 13 creates a payment plan based on the individual's income.

1.3 Eligibility and Limitations Not all debts can be discharged through bankruptcy. Child support payments, student loans, and certain tax obligations are non-dischargeable debts. Secured debts, such as mortgages or car loans, may require the surrender of collateral if not paid.

1.4 Filing for Bankruptcy To file for bankruptcy, individuals need to gather necessary documents, hire a bankruptcy attorney, and complete the bankruptcy petition accurately. It is crucial to consult with an attorney for specific requirements and to understand the costs involved.

1.5 Impact on Finances Bankruptcy can have a significant impact on credit scores and creditworthiness. It can lower credit scores and make it challenging to qualify for loans or obtain favorable interest rates. However, with responsible financial management, individuals can slowly rebuild their creditworthiness over time.

2. Debt Consolidation

2.1 What is Debt Consolidation? Debt consolidation involves combining multiple debts into one loan, simplifying payments and potentially lowering interest rates. It provides a structured approach to managing debts without the long-term effects of bankruptcy.

2.2 Benefits of Debt Consolidation - Streamlines payments and provides a clearer picture of one's debt situation. - Can potentially lower interest rates, saving money in the long run. - Allows individuals to regain control over their finances and work towards financial stability.

2.3 How Debt Consolidation Works To utilize debt consolidation effectively, individuals should: - Assess their financial situation by calculating total debt and interest rates. - Research trustworthy lenders with competitive interest rates. - Create a budget that accommodates the consolidated loan and monthly payments. - Stick to the repayment plan and avoid accumulating new debts.

2.4 Finding a Debt Consolidation Program When looking for a debt consolidation program, individuals should: - Compare interest rates to ensure they are lower than their current debts. - Read and understand the terms and conditions, including any fees or charges. - Research the reputation of the program through reviews and testimonials. - Understand the repayment plan and ensure it aligns with their financial capabilities.

File Bankruptcy Or Debt Consolidation

Bankruptcy and debt consolidation are viable options for individuals facing financial challenges. While bankruptcy offers a fresh start, it can have long-term effects on creditworthiness. Debt consolidation provides a structured approach to managing debts, simplifying payments, and potentially reducing interest rates. By understanding the benefits, eligibility requirements, and processes of each option, individuals can make informed decisions and work towards regaining control of their finances.

[rhahnlaw]

What to expect when meeting with a bankruptcy attorney?

When financial difficulties become overwhelming, seeking guidance from a bankruptcy attorney can provide crucial support. This article aims to shed light on what to expect when meeting with bankruptcy attorneys in Spokane. By understanding the consultation process and the attorney's role, individuals can approach these meetings with confidence, knowing they are taking a step toward financial relief.

Demystifying the bankruptcy consultation: What to anticipate

Compassionate evaluation of the financial situation 

A meeting with a bankruptcy attorney typically begins with a compassionate evaluation of your financial situation. The attorney will listen attentively as you share your concerns, goals, and financial challenges. They will ask pertinent questions to gain a comprehensive understanding of your circumstances and factors that led to your financial distress. This evaluation serves as the foundation for developing a personalized strategy to address your specific needs.

Explanation of bankruptcy options 

After evaluating your situation, the bankruptcy attorney will explain the available bankruptcy options and recommend the most suitable course of action based on your circumstances. They will provide a detailed explanation of Chapter 7, Chapter 13, and potentially Chapter 11 bankruptcy, outlining the benefits and implications of each. The attorney will help you understand the eligibility requirements, asset protection, debt discharge, and the impact on your credit score. They will address any concerns or questions you may have, ensuring that you make an informed decision regarding the right approach for your financial recovery.

Documentation and preparation 

If you decide to proceed with bankruptcy, the attorney will guide you through the necessary documentation and preparation. They will provide you with a comprehensive list of financial records, such as income statements, debts, assets, and expenses, that you need to gather for the bankruptcy filing. The attorney will assist you in organizing and preparing these documents, ensuring accuracy and completeness. They will explain the importance of providing truthful and transparent information to comply with legal requirements and maximize the benefits of bankruptcy.

Formulating a bankruptcy strategy 

Based on your financial situation and the bankruptcy option chosen, the attorney will develop a customized bankruptcy strategy. They will help you understand the implications of the strategy, including the potential impact on your assets, debts, and long-term financial outlook. The attorney will outline the steps involved in the bankruptcy process, from filing the petition to attending hearings and potential negotiations with creditors. They will also discuss any challenges or risks that may arise during the process and offer strategies to mitigate them effectively.

Legal representation and support 

During the meeting, the bankruptcy attorney will emphasize their role as legal representatives and advocate for your rights and interests throughout the bankruptcy process. They will explain how they will handle communications with creditors, collection agencies, and the court on your behalf, providing relief from harassment and ensuring your rights are protected. The attorney will highlight their commitment to supporting you through every stage of the process, offering guidance, advice, and experience to help you achieve the fair possible outcome.

Meeting with a bankruptcy attorney is a crucial step toward finding financial relief. By understanding what to expect during these consultations, individuals can approach the process with confidence and clarity, knowing they have a knowledgeable professional by their side to guide them through the complexities of bankruptcy and help them rebuild a stronger financial future.

The Law Office of Robert C. Hahn, III, P.S.

(509) 921-9500

2906 N Argonne Rd, Spokane, WA 99212

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Talk to Our Long Island Bankruptcy Attorney Today to Get a New Financial Start! - Pryormandelup

Do you find yourself in a situation of crushing debt and struggling to make ends meet? A Long Island bankruptcy attorney or lawyer could assist you in navigating the complicated process of filing for bankruptcy. It is crucial to look for a skilled and knowledgeable attorney who can help you through the process, whether you are considering Chapter 7 or Chapter 13 bankruptcy, and provide guidance to help you start anew.

What is Bankruptcy?

Bankruptcy is a legal process that allows individuals or businesses to discharge or reorganize their debts. There are several different types of bankruptcy, but the most common types for individuals are Chapter 7 and Chapter 13 bankruptcy. Chapter 7 bankruptcy involves liquidating assets to pay off creditors, while Chapter 13 bankruptcy involves creating a repayment plan that allows you to pay off your debts over time.

Advantages of Filing for Bankruptcy

While filing for bankruptcy can be a difficult decision, it can also provide a number of advantages. For example, bankruptcy can help you stop creditor harassment, avoid foreclosure or repossession, and eliminate certain types of debt. Additionally, bankruptcy can provide you with a fresh start, allowing you to rebuild your credit and financial stability.

Finding a Long Island Bankruptcy Attorney or Lawyer

When looking for a Long Island bankruptcy attorney or lawyer, it is important to find someone who is knowledgeable and experienced in bankruptcy law. This means finding someone who is familiar with the bankruptcy court system, as well as the nuances of bankruptcy law in New York State. In addition, you should look for an attorney who is willing to take the time to understand your unique financial situation and provide personalized advice and guidance.

Benefits of Hiring a Long Island Bankruptcy Attorney or Lawyer

Hiring a Long Island bankruptcy attorney or lawyer can provide several benefits. For example, an attorney can help you determine which type of bankruptcy is right for you, assess your eligibility for bankruptcy, and guide you through the bankruptcy process. Additionally, an attorney can represent you in court and help you navigate any legal issues that may arise during the bankruptcy process.

Conclusion

If you are experiencing overwhelming debt and are considering filing for bankruptcy, a Long Island bankruptcy attorney or lawyer can help you navigate the process and achieve a fresh start. By finding a knowledgeable and experienced attorney who is dedicated to providing personalized advice and guidance, you can take control of your finances and move forward with confidence. Whether you are considering Chapter 7 or Chapter 13 bankruptcy, a Long Island bankruptcy attorney or lawyer can help you achieve the financial stability and peace of mind you need.

There are two ways to get in touch with Pryor & Mandelup, LLP professionals. You can call them at (516) 997-0999 or visit their official website at https://pryormandelup.com/ to fill out a straightforward questionnaire and receive a free service quote.

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Bankruptcy Lawyers Near Me

Bankruptcy Lawyers Near Me

Personality and professionalism matter, and like anyone a lawyer who appears terrific on paper can fall short in person. It’s critical that you trust that the person you hire will be working in your best interest. Look for the following three qualities during your consultation.

They discuss alternate resolutions: Chapter 7, a complete cancellation of eligible debts, might not be the best or only way to deal with your financial problems. If there are other options, an ethical lawyer will present them. Another suggestion might be a credit counselor’s formal debt management plan, especially if most of your lenders are credit card companies. The interest rate reduction the agency may be able to secure can translate into lower payments. Chapter 13 bankruptcy, a court-supervised payment arrangement, might also be on the table. A lawyer may recommend it if you have enough income to support at least some of your liabilities and own property that could be taken in a Chapter 7 or a lawsuit. Understanding the full menu of resolutions and then choosing from them reduces the possibility that you will regret making the decision to file for bankruptcy.

They display a passion for the process: You wouldn’t have a heart operation performed by a indifferent surgeon, nor would you want the person representing you in bankruptcy court to be distant or aloof. Therefore, the lawyer you’re considering should exude a genuine passion for the occupation and process. Find out why he or she chose to specialize in bankruptcy law. Listen carefully to the response. Many lawyers find the work fascinating and rewarding.

They hear and understand you: For most people, declaring bankruptcy is a painful decision. Because of the emotions involved, you’ll want your attorney to not just to have the proper credentials, but to exhibit a desire to understand your specific situation and goals. Your lawyer should possess empathy and a willingness to take the time to ask probing (sometimes difficult) questions. “Only hire someone who wants to know what led to your financial predicament.” “Someone who will can address what your biggest worries are.” Not all lawyers have great bedside (or courtside) manners, so after the meeting, ask yourself if you’re truly comfortable with that person and if all of your concerns were addressed. If you feel like a number rather than an individual, cross that lawyer off your list and move on to the next until you find one who treats you with some respect.

A fee commensurate with service

Lawyers, even those who help you not pay your creditors, aren’t free. The cost varies by complexity and location, but in general is between $800 and $2,500 from start to finish. Avoid ultra-low-rate bankruptcy mills that advertise heavily and crank out the cases. “They usually only have a few lawyers and a large number of legal assistants.” “For a simple run-of-the-mill case, they’re probably ok, but you don’t know when complications may arise. The first time you meet with your lawyer would be at the creditors meeting, and if there is a problem, they won’t be prepared to handle it properly.” Don’t presume you get more for hiring the most expensive lawyer on the block, however, or less if you scrape the bottom of the price barrel. “Fees are determined by the market.” “In some areas, caps are set by the courts. This means that, for the same price, the client can usually get an experienced, highly qualified lawyer for the same price as a novice.” Be sure to ask what it covers, though, as some attorneys include court and other costs in the quoted fee, others don’t. Once you’ve found the person who possesses the ideal combination of experience, character and cost, you’re set. If you choose to move forward with filing, you can do so with assurance that you’re working with a lawyer you can trust.

Bankruptcy Discharge

In a bankruptcy proceeding, the debtor and the court figure out a plan to repay creditors as much as possible. In exchange, the debtor is released from legal liability for the rest of the debt that he owes. The remaining debt is discharged and the debtor is not legally responsible for paying the debt.

Are Attorney’s Fees Dischargeable?

In personal bankruptcy, most debts are dischargeable even unpaid attorney’s fees. Section 523 of the Bankruptcy Code lists fees that are not dischargeable. They include child support, alimony, debt that was incurred through fraud or false pretenses, luxury items bought right before the bankruptcy, government education loans, medical costs from driving drunk, reckless failure to pay debts, court fees, and other court costs. Since the current bankruptcy attorney’s fees are included in court costs, she will get paid. In contrast, attorneys that the debtor hired prior to bankruptcy will probably not get paid. Often, attorneys with unpaid legal fees will lodge a complaint with the Bankruptcy Court, claiming that their fees were non-dischargeable. However, these claims usually fail because they run counter to the purpose of bankruptcy, which is to give the debtor a new economic start. In response to this, attorneys are now anticipating their clients’ bankruptcies. Attorneys now routinely maximize their “retainer” (down payment) and encourage clients to file bankruptcy before legal services are rendered.

What If I Filed for Bankruptcy after a Divorce?

Family law practitioners, in particular, often run into problems when their clients file for bankruptcy immediately after divorce. Family lawyers have frequently argued that their fees are non-dischargeable, because they help the client to fulfill the duty to support the child, which is itself non-dischargeable. The BAPCPA, a bankruptcy law that went into effect in October 2005, made the law even stricter regarding the non-dischargeability of family support obligations. However, courts rule that if attorney’s fees were not ordered to be paid in the original child support decision, then they are dischargeable in subsequent bankruptcy. Attorney’s fees are not alimony. Although attorney’s fees help collect spousal support, they do not go into a spouse’s pocket. Finally, there is no justification for favoring family lawyers above other lawyers who might be owed even greater sums of money.

Can I Discharge Fees or Fines Imposed By the Court?

The answer is typically no, you cannot discharge fees imposed by the court. Fines and other fees imposed by the legal system are designed to punish citizens who break the law. It would be unfair to punish some citizens and not other citizens simply because they can’t afford the penalty. The only possible exception is if the fine or fee given is not retributive or punitive in nature. In personal injury lawsuits, for instance, the damage award taken from the defendant is not meant to punish the defendant, but to restore what was lost to the victim.

Do I Need a Bankruptcy Lawyer?

Filing for bankruptcy is a very complicated process. The law varies depending on where a bankruptcy is filed and also depends on which type of bankruptcy is filed. A bankruptcy lawyer knows the particulars of filing for bankruptcy, can recommend what chapter of bankruptcy is right for you, and can ensure that your paperwork is filed correctly so that all eligible debts are discharged.

Flat Fees Versus Hourly Fees

Many attorneys, especially bankruptcy attorneys, will charge a “flat rate” to represent you in a bankruptcy case. You’ll pay a fixed amount for the attorney to represent you, regardless of the amount of time the attorney spends on your case. Other attorneys will charge you an hourly rate, although it’s uncommon in consumer bankruptcy cases.

The more likely scenario is for the attorney to charge a flat fee for the bulk of the matter. The lawyer will charge an hourly fee for any extra work required for services like defending against an objection to discharge. Your contract should spell out what the flat fee covers.

Average Chapter 7 Bankruptcy Attorney Fees

Most Chapter 7 bankruptcy attorneys will base their fees on how complicated your case is and what other attorneys in the area would charge for a similar bankruptcy. If you have a lot of assets or debt, you might pay more than an unemployed person with no assets. In general, attorney fees for a Chapter 7 bankruptcy range from $1,000 to $3,500 depending on the complexity of the case. Larger firms with more advertising and overhead costs sometimes charge more than a solo practitioner, but not always. Some larger operations offer low fees and count on a higher volume of cases. Also, you might find a solo practitioner will cost more but offer more personalized service. It will depend on the office. You can expect a newer attorney to charge less than a more experienced lawyer, and if your case is a simple Chapter 7, you might not need an attorney with years of experience. Keep in mind, however, that bankruptcy is a specialized area of law and that most attorneys who don’t regularly practice bankruptcy won’t accept a bankruptcy case. When shopping around for a bankruptcy lawyer, call at least a few attorneys in your area. Compare their fees and ask if bankruptcy is an area they specialize in, as well as the number of cases they file each month.

Paying a Chapter 7 Attorney

You’ll pay your Chapter 7 attorneys’ fees in full before the attorney files the case and with good reason. Chapter 7 wipes out most unsecured debt in a Chapter 7 case, including attorneys’ fees. So if you had a balance due when filing the matter, it would get discharged. Chapter 7 attorneys know this, of course, and require full payment.

Average Chapter 13 Bankruptcy Attorney Fees

Most courts have guideline “acceptable” fees for a Chapter 13 bankruptcy. Unless exceptional circumstances justify it, an attorney won’t be allowed to charge more than the court’s guideline fee. Chapter 13 guideline fees are different for each judicial district. However, they are typically between $2,500 and $6,000 depending on the complexity of the case. For instance, if you own a business, the case will likely require more work and justify a higher fee.

Paying a Chapter 13 Attorney

Fortunately, most attorneys don’t require you to pay the entire Chapter 13 bankruptcy fee upfront. In most cases, attorneys will ask for a portion of their fees before filing your matter, and the remainder will get paid through your Chapter 13 repayment plan. How much a bankruptcy lawyer will require before filing will depend on each attorney or firm. But on average, you can expect to pay about half of the total fee before the attorney files your case.

Lawyers Must Disclose Attorneys’ Fees to the Court

Attorneys’ fees in bankruptcy cases are somewhat unusual in that they must be disclosed to and approved by the court. However, this doesn’t mean that the bankruptcy court fixes the amount that attorneys can charge in bankruptcy cases. Attorneys are free to charge what is reasonable given their experience and the complexity of your case subject to review by the court. Some courts have a “presumptive” maximum fee for certain types of bankruptcy cases, but the attorney can overcome the ceiling by demonstrating a good reason for charging more.

Attorneys’ Fees, Court Costs, and More

When you hire an attorney to represent you in bankruptcy, you should plan to pay three amounts: • the attorneys’ fees the lawyer charges to advise you, complete your bankruptcy paperwork, and represent you at bankruptcy hearings • the bankruptcy filing fee you’ll pay to the court to file the bankruptcy paperwork, and • the cost of a pre-bankruptcy credit counseling course.

Many people can pay the court’s Chapter 7 filing fee in up to four installment payments, and some get the court fees waived. By contrast, you’ll have to pay the court fees for a Chapter 13 case at the time of filing.

Choosing Between Debt Consolidation or Bankruptcy

If you’re like most folks who carry multiple credit cards, the merry go round of payments is a monthly frustration and chances are good you’ll eventually face problems making your deadlines. Nearly half of Utah’s households carry a balance from month-to-month and the amount they owe is growing. The average family that carries a balance owes $15,094 in credit card debt, which helps explain why the Federal Reserve said card debt hit a record $870 billion at the start of 2019.

Delinquencies – payments that are more than 90 days late also rose to 3.22% at the end of 2018 and the credit reports of about 37 million cardholders were dinged because of it. If you’re one of the dinged, it might be time to get brutally honest with yourself. You’ll need to ponder if you have enough income to fund a debt consolidation plan or whether your finances are so out of whack that the only alternative is to surrender and file bankruptcy. Struggling with debt is a juggling act and dropping the ball can have serious consequences. Before you decide how to approach your situation, it’s a good idea to take stock. You may have multiple unpaid credit card balances, a student loan and a home loan, each requiring either a fixed or minimum monthly payment. Make a list of them all and include the balance owed, the required monthly payment and the interest rate. Add up your minimum monthly payments. This exercise will give you a sense of your situation. Though there are assortments of techniques to reduce debt and make it more manageable, debt consolidation and bankruptcy are two of the most common.

Debt consolidation, which could be accomplished through a nonprofit credit counselor, turns an assortment of unsecured credit card debts into a single, affordable monthly payment that eliminates debt in 3-5 years. The alternative, bankruptcy, seeks court protection from creditors and can either discharge debt or reduce it with a payment plan that can take up to five years to complete.

Debt Consolidation

Debt consolidation is a strategy to reduce the interest rate and lower the monthly payment on credit card bills by combining them into a single payment. There are several ways to accomplish this, including: • Enrolling in a credit consolidation program through a nonprofit credit counseling agency. The agency will collect monthly payments from you that include a service fee and pay off your creditors in an agreed upon amount until the debt is eliminated. • Taking out a debt consolidation loan through a bank, credit union or online lender. Typically, there are fees associated with the loan and your credit score will influence the interest rate. If you don’t have at least a good credit score something above 650 – that interest rate may not be much better than what you’re paying on your credit cards. • Taking a do-it-yourself approach by contacting your card companies and offering to repay them at a lower interest rate. Creditors don’t have to accept your terms. Before attempting this, it’s wise to research tactics and techniques, considering the pros and cons. You can use a nonprofit credit counselor to guide you through the process and offer suggestions.

Pros of Debt Consolidation

Whether you use a nonprofit credit counseling agency or go it alone, the objective is to turn an assortment of bills into a single monthly payment. If the consolidation loan or debt management program has a lower interest rate than the original debt, you can save money and lower payments. Using debt consolidation will maintain your access to credit and if your plan is successful, your credit score should improve.

Cons of Debt Consolidation

Trying to arrange your own repayment plan usually requires a solid credit score. Whatever type of debt consolidation loan you pursue, a good credit score is usually necessary for approval. The higher your score, the lower your interest rate is likely to be. Also remember that paying off a consolidated debt could take several years and will require that you force yourself to rein in spending, especially credit card spending. Finally, before paying off unsecured credit card debt with a home equity loan or line of credit, remember that you’re putting your home at risk. If you don’t make payments on time, the lender could foreclose on your home.

Free Initial Consultation with Lawyer

It’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

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When Should I Seek Foreclosure Help?

Foreclosure Lawyer

When you are facing the loss of your home, knowing when to take critical action is necessary. There are many things that a lawyer who specializes in foreclosure cases can do for you so that you will not have to go through the foreclosure process. They can explain to you how you can best protect your rights so that you can keep your home and avoid the consequences. A competent and dedicated lawyer like one from The Law Offices of Neil Crane will be able to guide you through your legal options, helping you keep foreclosure from happening. If you are going through the following situations, you may want to schedule an appointment with a lawyer. 

You are behind on your mortgage payments

One of the most common reasons that homeowners face foreclosure is because they are unable to pay their mortgage. Keeping up with payments can be difficult when you have gone through scenarios such as the loss of a job, a sudden medical emergency, and other unexpected situations that can result in financial instability. If you are having trouble making your mortgage payments, seeing a qualified foreclosure lawyer can help you understand your options and decide the best course of action that will enable you to prevent foreclosure from happening. 

You are filing for bankruptcy 

Many people who have debt issues choose to file for bankruptcy, or consider it as one of their options. Filing for bankruptcy is a major decision that should not be taken lightly. One type of bankruptcy, Chapter 13, allows homeowners to keep their homes and delay or stop the foreclosure process. Meeting with a lawyer can help you find out if you are eligible to file for Chapter 13 bankruptcy and see if it is the most suitable option for you. 

You need to modify your mortgage

Making a change to your mortgage may be necessary if your circumstances have changed, such as your income. If you have missed payments or would like to renegotiate better mortgage rates, you can file a request to modify your mortgage so that you can make your payments. A lawyer can help you fulfill the requirements necessary to arrange the modification and have it approved. You will need to complete steps and sign the legal document to ensure that you can move forward with the modification. 

You want to consider mediation 

Mortgage mediation is when a third-party, or mediator, helps homeowners who are being threatened with foreclosure to find alternative solutions. A legal professional can serve as the mediator between borrowers and lenders. Through mediation, homeowners can understand their legal rights and their full options so that they can successfully resolve their dispute. 

When you are possibly facing foreclosure it can be overwhelming, and it can be hard to find the best solution. Have a trusted lawyer who advocates for clients guide you through the process so that you can keep your home and prevent the foreclosure process. Schedule confidential consultation so that you can speak to a lawyer immediately.

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