Chapter 7 bankruptcy -Get Real Answers

If you are considering Chapter 7 bankruptcy the best advice and information you can get is person to person with a bankruptcy attorney. There is much about this type bankruptcy that depends on how you “package” your financial situation. There is many things you can do on the internet these days, figuring out if you "REALLY " qualify for bankruptcy isn't one of them. 

A “fresh start” or “clean slate”, Chapter 7 is a form of bankruptcy designed to let people (and sometimes businesses) get out of debt without repaying any of the “unsecure” creditors. While Chapter 7 also requires the person(s) filing go turn over to the bankruptcy trustee all “non-exempt” assets, skilled planning with an experienced bankruptcy lawyer can usually ensure all the filer’s assets are exempt (i.e., the filer gets to keep the property.)

http://www.bankruptcy-sandiego.com/bankruptcy-faqs/can-i-keep-my-stuff.html

 With Chapter 7, the Court, not the creditors, decides whether any assets should be sold to pay creditors.  While there is both an art and a science to actually completing the documents to be filed in a Chapter 7, much greater skill is needed to plan for minimum loss to the person filing.  If the person filing Chapter 7 can’t pay reasonably necessary living expenses and pay something to the unsecured creditors, the Chapter 7 filer should sail through the process pretty smoothly.

A Chapter 7 case must be filed in the venue (district) where the person filing has lived for the better part of the last 180 days.  Not surprisingly, the process requires the person filing to bare his / her financial soul to the court and the creditors.  All income, assets, debts and creditors must be disclosed.  Again, careful and skillful planning is essential!. Most bankruptcy lawyers will talk to you free at least the first time.Take them up on the offer, you deserve it.

Debt Collector Harassment-Protect your Privacy

When you are dealing with aggressive debt collectors and creditors it's important to be conservative about the information you give to them. I know that it is your intention to pay your debts if you can. If though debt collectors are calling you so much that you have decided to read my bankruptcy blog, it's time to ratchet up your approach with them.

Do not provide a debt collector with bank account information. If a debt collector requests you make payment over the phone just pass Don't make a payment that way, send it in the mail.When you make a payment over the phone you provide all your banking information to the collector. When they have your banking information if they sue you they can garnish your wages and get a judgment, without much work.

Make payments on debts that are not current by using money orders. Using money orders, you are protecting (at least to some degree) information about your bank accounts.

Be conservative about provideing  debt collectors with information about your current employment.  By not releasing this information to a debt collector, you will make it more difficult for a creditor to obtain a garnishment of your wages should a creditor obtain a judgment from a court against you. If you need please feel free to call me about aggressive debt collectors ,there is legal action that can be taken .

Filing for bankruptcy what to do first ?

No one ever wants to think that they are going to have to file for bankruptcy. These days, due to the economic upheaval, financial crisis, and housing bubble many good people have had to plan for bankruptcy. They had made decisions that looked sound at the time, but got caught up in a financial firestorm. If you were one of those people and feel it is time to start planning to file  bankruptcy there are a few things to keep in mind.

First is, make an appointment with a bankruptcy lawyer. I understand that this will be scary. No one wants to face this.   Making the call can feel uncomfortable and  embarrassing.  Some San Diego bankruptcy lawyers, myself included, offer a free consultation.  The purpose of your meeting is to determine if you qualify for bankruptcy.  It is to your best advantage to speak to a bankruptcy lawyer about this.  Due to the Internet and proliferation of information, clients that we speak to sometimes believe that they can determine if they qualify for bankruptcy online.  Nice thought, but it really isn’t that easy.  A bankruptcy attorney can give you the most realistic information that you need.  Not meeting with the bankruptcy attorney is never in your best interest.

When you meet at your first appointment to see a bankruptcy lawyer, bring least six months of your pay stubs. Plan ahead: before you schedule your appointment to speak to a bankruptcy attorney call your HR department and get a copy of six months of your pay stubs.  If you are married, bring your spouse.  Even if your spouse isn’t filing with you, he (or she) will still usually have to sign a waiver.  Plus, if you decide to file bankruptcy, going forward all joint credit will be affected. Keep this in mind when you call to schedule your appointment with your bankruptcy lawyer. The third thing you will need to consider when planning for bankruptcy is to stop using your credit cards for significant credit card charges. This would mean no vacations, no last hurrah :=)

 Planning for bankruptcy is something you should congratulate yourself for. You're taking the first steps in being proactive to get under control the financial firestorm you find yourself in.  It's a scary step, but will benefit your family and you

.http://www.bankruptcy-sandiego.com/calculator.html