ITS TIME FOR A FRESH START

 

ARE YOU DROWNING IN DEBT? 

ARE YOUR WAGES BEING GARNISHED? 

ARE YOU IN FORECLOSURE?


IF YOU'VE ANSWERED YES TO ANY OF THESE

QUESTIONS THEN WE CAN HELP YOU NOW

 

DID YOU KNOW THAT YOU CAN FILE BANKRUPTCY ON YOUR CREDIT CARD DEBT, STOP WAGE GARNISHMENTS AND COLLECTIONS?

Yes.  Bankruptcy provides the path for you to reset your financial life.  This is why we refer to it as getting a "Fresh Start".

 

DID YOU KNOW THAT BANKRUPTCY WILL STOP THE BANK FROM FORECLOSING ON YOUR HOME?  

Yes.  You can force the Bank to accept a repayment plan of your past due mortgage payments and there's nothing the Bank can do to stop it.  You repay what you owe to the Bank over sixty (60) months.  The rest of your unsecured debt is "packaged" into a payment that you can afford - and you only repay what you can actually afford to pay which can be a fraction of your outstanding balances.  And, the credit card companies can no longer charge their high interest rates and continue to rip you off.  

 

DID YOU KNOW THAT YOU CAN KEEP YOUR CAR!  

Yes.  Reaffirming (also known as remaining responsible on the debt) on your car loan and keeping it “as is,” is very rarely your best option.  Instead, we can lower your monthly car payments, re-establish your credit and you’ll only owe what your car is worth.

 

Federal Law allows you to Refinance your car loan or replace your car with new or used, low mileage vehicle. On the other hand, if you like your car and you choose to refinance it then you can keep it and pay only what it is currently worth and not what you owe.

 

Bankruptcy provides you with needed relief and gives you a true “fresh start” in life.  Your initial consultation is Free. You have nothing to lose and everything to gain.  Call us now - (310) 575-1175 or send us an email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Bankruptcy: Chapter 7

 

In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property. Most liens, however (such as real estate mortgages and security interests for car loans), survive. Other assets, if any, are sold (liquidated) by the Chapter 7 Trustee to repay creditors. Many types of unsecured debt are legally discharged by the bankruptcy proceeding, but there are various types of debt that are not discharged in a Chapter 7.

Common exceptions to discharge include child support, income taxes less than 3 years old and property taxes, student loans (unless the debtor prevails in a difficult-to-win proceeding brought to determine the dischargeability of the student loan), and fines and restitution imposed by a court for any crimes committed by the debtor. Spousal support is likewise non-dischargeable.

On October 17, 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) went into effect. The law effectively subjects most debtors who have an income, as calculated by the Bankruptcy Code, above the debtor’s state’s median income to an income based test. This test is referred to as the “means test.”

The means test provides for a finding of abuse if the debtor’s income is higher than a specified portion of their debts. If a presumption of abuse is found under the means test, it may only be rebutted in the case of “special circumstances.”

So, it is important to have an attorney from Yourist Law calculate your income under the means test to see whether Chapter 7 bankruptcy is appropriate for your situation. But remember if you do not qualify under Chapter 7 of the code, you may under Chapter 13. Our clients soon learn that you may not have to pay back any unsecured debts like credit cards dependent upon our DMI calculation.

 

Newsletter Sign-Up