Bankruptcy Search and Bankruptcy Questions
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Bankruptcy is not something most of us ever wish to do, but finding help when you need it is something we could all use. Bankruptcy laws have changed in the last five years, so it is more critical than ever to get the very best advice possible before pursuing legal help. Years ago, I was faced with the unpleasant task of helping my father close a successful, 15-year old business. When 09/11 and the ensuing stock market crash occurred, it put an irrecoverable dent in the industry of his business. His company could no longer sustain a profit from the decreased revenue that hit both customers and suppliers of his business. Understand, that it was not just our own business alone, but those who did business with us that made it impossible to continue to make a profit and make good on our commitments to suppliers and vendors. Most people who have not faced these circumstances simply do not realize that there is usually more than just one victim in a bankruptcy. The repercussions of any number of business and financial factors is often widespread and affects an entire group of victims; not just one person or business. In the case of personal bankruptcy, a Harvard Law study reveals that medical expenses are responsible for 50% or more of personal bankruptcies. So, we cannot assume there is only one cause or victim to blame. An entire group can be affected by the same set of circumstances. In the case of my father's business, there was no question we would have to close the business, but without some good legal advice, we were lost as to how to begin. I sought a legal reference from a friend in the business bankruptcy business. Thank goodness she pointed us to a trustworthy attorney who charged us nothing to explain how it all works. He convinced us in the end that we could close the business without bankruptcy. We paid him nothing for his advice which ended up being accurate and truthful. Since that time, I have often wondered how many other people could use a reference, but have no idea where to look. At Product Review Ratings (PRR), we thought it would be useful to have a reference page for seeking bankruptcy and legal help. Since I am not a lawyer, and this site is not about law or attorneys, this is not to promote attorneys, but to help you find them when you need them. I will continue to add to this page as I find the most current information on Bankruptcy and where to find the highest rated attorneys.
Bankruptcy Information Website
Bankruptcy Action This site is chalk full of useful information and answers to questions: What is chapter 13 bankruptcy? What is Chapter 7? Bankruptcy Action will also answer your most commonly asked questions on how bankruptcy affects your financial future, credit ratings, credit cards and what it means to your spouse and family. Everything you want to know about bankruptcy is answered on this useful site. So, now that you can get some basic questions answered online, how about finding a real bankruptcy attorney in your area who can help you through this unpleasant time. Top-10 Bankruptcy Attorneys may not be easy to come by, but here is a place to start.
Bankruptcy Lawyers in Your Area
- Bankruptcy Help in Denver
- Chicago Bankruptcy Attorney
- New York Bankruptcy Attorney
- Los Angeles Bankruptcy Attorney
- Bankruptcy Lawyers in Cleveland, Ohio
- Bankruptcy Lawyers in Jacksonville, Florida
- Bankruptcy in Detroit Michigan
....Stimulus Package and More Bankruptcy information coming soon ...
Being that we already happen to be talking about things in the ball park of Bankruptcy Search | Bankruptcy Questions | Attorney, If your lender is not doing loan modifications at this time, you may not qualify. Every situation is different. A competent, professional loan modification company, that does hundreds or thousands of loan modifications each month, knows what lenders are willing to do in terms of modification and these criteria are changing literally weekly, due to the current financial crisis.
While we’re in Bankruptcy Search | Bankruptcy Questions | Attorney mode, The Federal government has allocated $75 billion dollars to subsidize lenders and servicers who offer a loan workout to their clients. Now, the banks will have a monetary incentive to offer help to qualified borrowers. In addition, homeowners who pay their new modified payments on time will be eligible up to $5000 credit to their loan balance.
I can add some good answers related to chapter 13 :
- Yes, it is possible to file bankruptcy without legal representation, though, unless you are a legal expert yourself, it is not to be advised. Filing chapter 13 bankruptcy is an extremely complex process and if you make any mistake or omission, you risk serious financial and legal repercussions.
- You may have to liquidate some assets in order to pay off part of your debts, but for the most part, your debt will be paid off over time by means of your monthly repayment plan.
- Yes, it is true that there are types of debts that will survive your bankruptcy. These are mainly tax debts, government fines, child support and student loans.
- Yes, once the court notifies your creditors of your bankruptcy, an automatic stay goes into effect that prohibits creditors from any further collection actions against a debtor. This includes lawsuits, wage garnishing and harassing phone calls. Creditors are allowed to object to your chapter 13 bankruptcy in the court-supervised Meeting of Trustees.