“Dear Steve, My husband and I are considering filing chapter 7 bankruptcy in Oklahoma. The only thing that I have in my name is $5000 worth of property. My grandparents gave it to me and the way the deed is wrote up is that I can’t ever …

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Here is the Spanish translation of Post summary:-

“Querido Steve, Mi esposo y yo estamos considerando la presentación de la bancarrota del capítulo 7 en Oklahoma. Lo único que tengo en mi nombre es de $ 5000 el valor de la propiedad. Mis abuelos me lo dio y la forma en que la escritura se escribió es que no puedo nunca …

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How long after a discharged Chapter 7 bankruptcy can I refinance?

1 day if u have reestablished good credit, and have the equity, figure you will be lucky to get 69% of the loan to value, and if you dont have reestablished great credit in excess of 720 scores dont bother because it isnt going to happen for

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REFILE-1-800-Mattress owner seeks bankruptcy protection

Creditors filed an involuntary Chapter 7 bankruptcy petition against the company last week, seeking $1.7 million. In a Chapter 7 filing, …

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My Husband and I Are Considering Filing Chapter 7 Bankruptcy in … is a post from: Austin Bankruptcy Lawyer

The financial management course: Before you’re eligible for your Chapter 7 discharge, you must complete a financial management (also known as “debtor education”) course. The course is designed to help you make the most of your fresh …

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Here is the Spanish translation of Post summary:-

El curso de gestión financiera: Antes de usted es elegible para su descarga el capítulo 7, debe completar una gestión financiera (también conocido como “deudor de la educación”) curso. El curso está diseñado para ayudarle a sacar el máximo partido de su nuevo …

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How long after declaring chapter 7 can you expect to be approved for a car loan?

Auto finance is what I do for a living and the answer is as soon as the ink dries on your discharge papers.

There are several lenders out there that have very good bankruptcy programs just find a large dealer that advertises Special Finance and go talk to the Manager

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Progressive Games files for Chapter 7 bankruptcy

PK a Nevada provider of technology products for the casino industry, filed for Chapter 7 bankruptcy, as the gaming industry continues to suffer from slower …

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Total Bankruptcy: Chapter 7 Bankruptcy: The Process is a post from: Austin Bankruptcy Lawyer

By the time you finish reading this, you will know the important point of Chapter 7 bankruptcy. If you are thinking that everyone can file for this type of bankruptcy, you are wrong. Only certain people can file for Chapter 7 bankruptcy …

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Here is the Spanish translation of Post summary:-

Por el momento en que usted termine de leer esto, sabrás lo importante de bancarrota del capítulo 7. Si usted está pensando que todo el mundo puede presentar para este tipo de quiebra, se equivocan. Sólo algunas personas pueden presentar para la bancarrota del capítulo 7 …

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Can we transferr a chapter 7 bankruptcy over to a chapter 13 bankruptcy on one company?

Why don’t you ask your attorney what you need to do…if you wanted to keep the house, you should have reaffirmed the debt and kept paying the mortgage.

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In this economy, bankruptcy may be an answer for many

Your status as a homeowner, as well as your income, will likely determine whether you file a Chapter 7 bankruptcy or a Chapter 13. “Chapter 7 is cheaper, …

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Why Chapter 7 Bankruptcy is a post from: Austin Bankruptcy Lawyer

There are certain fees associated with every bankruptcy case.

• Filing fees for a Chapter 7 charged by the court are $299.00
• Filing fees for a Chapter 13 charged by the court are $274.00.
• There is also a fee for the Credit Counseling Course and Financial Management Course. The fees for these courses depend on the provider and can range from $35.00 to $50.00 per course.
• Attorney fees.

In addition, the attorney fees in a Chapter 13 Bankruptcy are handled either by the use of a flat fee or by an hourly rate. The flat fee for a consumer Chapter 13 Bankruptcy case is set by the local bankruptcy rules and most attorneys charge the same amount. A distinct advantage of a Chapter 13 Bankruptcy is that a significant portion of the attorney fees can be included in the repayment plan.

How Much Does It Cost to File Bankruptcy is a post from: Austin Bankruptcy Lawyer

Not True. Bankruptcy stays on your credit about 7 to 10 years. Although the bankruptcy will stay on your credit, you can start rebuilding your credit once your bankruptcy is discharged. Making current, full payments on debt is one way to start building your credit while you are still in the bankruptcy. Once you are out of bankruptcy, make sure that you watch your income to debt ratio and try to not finance more than 40% of your credit limit.

Myth 2:
Everyone will know you filed for bankruptcy.

Not True. Bankruptcy is public record but unless you are a prominent official in society, people aren’t going to be looking. The only people who are going to know are those who you tell and those who have access to the bankruptcy court record system.

Myth 3:
There is no help with the new bankruptcy law.

Not True. The bankruptcy reform act changed only the method in which Debtors qualify for the different types of bankruptcy. It doesn’t prevent people from filing and in most situations people are still able to get the same relief now as before the law changed.

Myth 4:
You are a bad person for filing bankruptcy.

Not True. There is a reason that over one million people file for bankruptcy each year and it is not because they are bad people. Bankruptcy is a solution to help good people go through a bad time. It provides hard working people with the fresh start that they deserve, but are not able to obtain.

Myth 5:
You can pick and choose what to put into bankruptcy.

Not True. You do have to list all of the debts that you owe and the property that you own. You cannot discriminate between creditors, even if you want to keep paying them. It is good to want to continue paying creditors, but it is still mandatory to include the debt. If you feel like paying it after the bankruptcy then go ahead, but you will not be obligated to.

Myth 6:
It’s hard to file for bankruptcy.

Not True. There is a lot of paperwork involved, but having a skilled attorney makes the process much smoother. Filing bankruptcy is even electronic these days, which minimizes paperwork on your part.

Myth 7:
You will never be able to own property again.

Not True. You will get credit card offers and be extended credit right after the discharge of your bankruptcy. There are also creditors that will lend to you while you are in bankruptcy. You will be able to purchase whatever you can afford.

Myth 8:
You will lose everything you own.

Not True. Bankruptcy allows you to keep your property. Outside of bankruptcy you could lose your property to creditors, but once you have filed for bankruptcy you and your property are protected. Laws that allow you to keep property vary from state to state and you should consult an attorney in your area to property advise you of the laws in your jurisdiction. Bankruptcy doesn’t always wipe out liens, which means if you want to continue to keep the property you will need to continue to pay the lien.

Myth 9:
Both you and your spouse have to file bankruptcy together.

Not True. You can file together or separately, that is your choice. In many cases it makes sense for husband and wife to file together, but in some instances the spouse might not want to file. This is absolutely fine and definitely allowed by the court.

Myth 10:
You can’t get rid of back taxes in bankruptcy.

Depends. You can get rid of income taxes that are more than three years old by filing bankruptcy. There are several qualifications that have to be met in order for the taxes to be wiped out, but having a portion wiped out is better than none at all. In addition, sales taxes must be repaid and cannot be wiped out by filing bankruptcy.

Myth 11:
You can only file bankruptcy once.

Not True. You can file for bankruptcy as many times as you like. Although, you are limited by how often you can receive a discharge. You can receive a discharge from Chapter 7 once every 8 years. You can receive a discharge from Chapter 13 every 2 years. If you get discharged in a Chapter 7 you have to wait 6 years before getting a discharge from Chapter 13. If you get a Chapter 13 discharge then you need to wait 4 years to get discharged from a Chapter 7. However, there is no waiting period if your case is dismissed. You can file back to back should you choose.

Myth 12:
You can never get credit again.

Not True. You will start establishing credit from day one. Bankruptcy wipes out debt, which in turn helps your credit score. By making timely payments on the property that you choose to keep also shows a record of good credit. You will be able to get credit as soon as your bankruptcy is discharged and sometimes sooner.

Myth 13:
Only losers file for bankruptcy.

Not True. Bankruptcy is a means for good people who are going through bad times to get relief. Many times people have to file because they have lost their job, gone through divorce, or experienced medical illness. Bad times don’t make a person bad. Bankruptcy can provide the relief that good hardworking people need to get them out of the bad time.

Myth 14:
Creditors can still harass you if you file for bankruptcy.

Not True. When the bankruptcy is filed, automatic protection is put onto you and all of your property instantly. Creditors are not allowed to contact you for any reason, which includes calling or even billing you. If they persist in harassing you, you do have remedies available through the Federal Bankruptcy laws.

Myth 15:
Filing bankruptcy causes more family trouble and divorce.

Not True. Bankruptcy eliminates debt eliminating financial stress. Filing bankruptcy is the solution to the problem, not an additional problem. Although making the decision to file bankruptcy might be difficult one, the relief provided will lift a huge weight off of you. The absence of financial stress will give your relationship a fighting chance.

Common Bankruptcy Myths is a post from: Austin Bankruptcy Lawyer

Inside attorney Andrew Traub’s new Special Report exposing hidden myths and facts credit card companies hope you never find out.

To order your free copy of this shocking Special Report today, call (512) 343-2572 or fill out the form on this page.

Remember, the call is free ans so is the report so call right NOW!

“In Over Your Head in Credit Card Debt?” is a post from: Austin Bankruptcy Lawyer

Bankruptcy Guide

We’ve just released a new, free Chapter 7 Bankruptcy Guide for people considering filing bankruptcy in Texas entitled “Inside Secrets the Credit Card Companies And Creditors Don’t Want You To Know About Credit Relief” This is a must read for anyone who is considering filing for bankruptcy because they are being hounded by creditors and credit card companies.

The worst thing you can do is what too many people do – they continue to allow credit card companies and other creditors to collect payments without knowing all of their rights and options.

Order this free bankruptcy report today and we will mail it out to you immediately.

Cheers,

Andrew

New, Free Bankruptcy Guide is a post from: Austin Bankruptcy Lawyer

At this point it is important to stop all spending on the card otherwise it will make arranging a debt relief plan much harder to implement. Credit card debt relief is possible but it does rely on the person actually wanting to do something about the situation. The most frequent methods of debt consolidation are shown below.

You should find a credit card that is offering special low interest rates on balance transfers, this way you can consolidate all your loans into one which can be repaid in regular installments. A good alternative to this option is a consolidation loan at a low interest rate where the debtor can decide exactly how much they can afford to repay every month after the outstanding debts have been cleared.

Consolidation of bills requires a certain willingness on the part of the person in debt to be strict about the payments and the regularity in which they are made if they really want to end the debt problem. This particular route is only viable if the person with the debt retains a good credit history and they have the means to pay back the loan once the debts are clear.

If consolidation is not an option then negotiation between the debtor and lender through a debt relief company can be considered. Debt relief companies can deal with the card companies directly and negotiate a payment condition that can be agreed on by both parties. Normally, when these negotiations proceed approximately half the debt will need to be paid and the remainder be written off by the creditors.

As a last resort the person in debt can declare bankruptcy. The positive aspect of filing for bankruptcy is it enables the person a fresh start and a break away from the constant pressure of owing money.

How to Get Out of Credit Card Debt is a post from: Austin Bankruptcy Lawyer

As the New York Times reported from interviews with various bankruptcy lawyers, “not only are the filings up, but recent filers have much more credit card debt, often run

up in an attempt to keep paying a mortgage that now exceeds the value of their home.”

As for the legal implications of this trend, I expect we may see an increase of debtors to opt into Chapter 13 as opposed to Chapter 7 bankruptcy in an attempt for debtors to keep their homes. While Chapter 7 filings stop foreclosure proceedings, the break is usually only temporary. As a practical matter, many homeowners who file under Chapter 7 lose their homes. In contrast, Chapter 13 stays foreclosure proceedings for up to 3 to 5 years while homeowners try to work out a repayment plan with his or her creditors.

If you or anyone you know is considering filing for Chapter 7 Bankruptcy, please call us at (512) 343-2572 so that we can inform you of your options and send you a free report about Chapter 7 Bankruptcy.

Economic Downturn Leading to More Bankruptcy Filings is a post from: Austin Bankruptcy Lawyer