NEED A LAWYER ? CALL FLINT BANKRUPTCY ATTORNEY TERRY BANKERT 810-235-1970

File Flint Chapter Seven Bankruptcy you will not be alone. Call 235-1970

September 23, 2012

HAVING PROBLEMS PAYING YOUR DEBTS?

FLINT BANKRUPTCY Lawyer Terry R. Bankert 235-1970

Because of our poor economy nationally, and in Michigan, many families have economic problems.

Do you?

Are you having problems paying your debts?

Is your family threatened with garnishment, foreclosure or repossession?

If yes you are not alone.
see  http://goodmorningflint.blogspot.com/2012/09/having-problems-paying-your-debts-flint.html

We are a debt relief agency helping you as a Flint Bankruptcy Lawyer. We will help you   file and get debt relief.

Bankruptcy is a way to deal with your  financial problems , get a fresh start and care for your family.

You Did know you have the right under federal law to file for bankruptcy relief from your creditors just like General Motors, Big Banks and Wall Street..

The theory of Bankruptcy is that it is a legal proceeding in which a person can get a fresh financial start. Do you need as fresh start?

First try to pay your bills before filing bankruptcy because you can do so only once every six years and it is the right thing to do.

In most cases, you will want to save this valuable option until you really need it. Also, you may not need to file bankruptcy even though creditors are threatening you because you may have no nonexempt property or you wages are too high.


Just like Wall Street got their Fresh start a chapter seven Flint Bankruptcy it is your fresh start.

http://dumpmycreditors.wordpress.com/2011/11/15/your-persoanl-wall-street-type-bailout-a-chapter-sebven-bankruptcy-810-235-1970/

Some things bankruptcy can do:

Eliminate the legal obligation to pay most or all of your debts. This is called a “discharge” of debts.

Stop foreclosure of your home and allow you to catch up on missed payments.

Stop repossession of a car or other property, or, in some situations, force the creditor to return property even after it has been repossessed.

Stop wage garnishments.

Stop debt collection harassment.

Restore or prevent termination of utility service for nonpayment of previous bills (you will probably have to pay a deposit, but the deposit cannot be more than 1-1/2 to 2 times your previous regular bills according to the Arizona Administrative Code).

Get your drivers license back if it has been suspended because you didn’t pay court-ordered damages for a driving accident (unless you were driving under the influence of drugs or alcohol).

Some things bankruptcy can’t do.

Eliminate certain rights of secured creditors. Some examples of secured debts are car loans and home mortgages. You can force secured creditors to take payments over time, but generally, you cannot keep the collateral unless you continue to pay the debt.

Discharge debts that arise after the bankruptcy has been filed.

Discharge certain types of debts, such as child support, alimony (spousal maintenance), certain other debts related to divorce, most student loans, court restitution orders, criminal fines, and most taxes.

Eliminate the obligation of a co-signer on your loan in most cases.

Chapter Seven Bankruptcy is known as a “fresh start” bankruptcy, or “liquidation”. Your debts are discharged (canceled), but you must give up any nonexempt property to the trustee to pay to your creditors. You can keep secured property if you are current on the payments and continue making the payments regularly.

When you file for bankruptcy you will not be alone.

http://occupyflintlegal.wordpress.com/2012/09/11/when-you-file-for-chapter-seven-bankruptcy-you-will-not-be-alone-810-235-1970/

In Chapter 7 bankruptcy, the trustee must take your nonexempt property and use it to pay your creditors.Most debtors in Genesee County because of our loss of residential value keep all of their possessions that are not encumbered by a loan or mortgage.

If you have property, which is non-exempt, you could sell it before filing bankruptcy and use the money to purchase things, which are exempt; such are food, furniture, or clothing.

However, you cannot give property away to friends or relatives, and have them give it back to you after the bankruptcy.

Any transfers of property without receiving fair value for it within one year before filing bankruptcy are called a fraudulent transfer.

The property could be taken by the bankruptcy court and sold to pay some of your debts.

If the court finds you have been dishonest in your bankruptcy, you could be denied your discharge. You could also be charged with federal or state crimes, which carry serious fines and jail sentences.

Also, you cannot prefer one creditor over another by making payments on the debt within 90 days before filing bankruptcy (one year if the person paid is an “insider” (family, friend, etc.)

If you do so, the bankruptcy court can take that money away from the person you paid. This is to insure that all creditors are treated equally. This does not apply, however, to regular monthly payments such as your car payment, house payment, rent, utilities.

Call my office at 810-235-1970 andm make a free initial appointment so we can continue this discussion to gice you a fresh financial start.

 

Sphere: Related Content

FLINT BANKRUPTCY, STOP CREDITOR HARRASSMENT ,YOUR PERSONAL BAILOUT.

FLINT BANKRUPTCY-Millions of people before you and millions of people after you will cause their own personal financial bailout like the  Banks and Wall Street did. For us little people its what is called a Chapter 7 or Chapter 13 Bankruptcy.

You do not repair  your credit by continuing to slow pay your bills. Its no joke being broke. Bankruptcy is a way out. Call 235-1970 Terry Bankert Flint Bankruptcy Attorney

The most common reasons for filing Flint bankruptcy are:

1. Large medical expenses; Seriously overextended credit; Marital problems,
2. Other large unexpected expenses.
3. Sudden loss of two wage earner family income or overtime

You are not alone others have filed for bankruptcy even professional athletes.

Ever wonder how professional athletes with multimillion-dollar contracts can end up bankrupt?
see: http://blogs.wsj.com/bankruptcy/2012/10/01/pro-athletes-go-broke-in-new-espn-documentary/

In the new documentary“Broke,” which is set to air on ESPN Tuesday 10/01/12 ,evening, director Billy Corben provides a “step by step guide on how to go broke” by talking to the current and former professional athletes who’ve gone broke themselves or have watched teammates and peers drain their bank accounts.


You cannot receive a discharge in a Bankruptcy Chapter 7 case if you received a discharge in either (a) a chapter 7 bankruptcy filed within the last 8 years, or (b) a Chapter 13 bankruptcy filed within the last 6 years.

Chapter 7 bankruptcy, sometimes call a straight bankruptcy is a liquidation proceeding.

The  Flint Bankruptcy debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases the debtor has no assets that he would lose so Chapter 7 will give that person a relatively quick "fresh start".

Chapter 13 Bankruptcy is also known as a reorganization bankruptcy.  Chapter13 bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. This type of bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts

By law, all actions against a debtor must cease once the bankruptcy documents are filed. Creditors cannot initiate or continue any lawsuits, wage garnishees, or even telephone calls demanding payments. Secured creditors such as banks holding, for example, a lien on a car, will get the stay lifted if you cannot make payments.

Flint Bankruptcy clients ask “Will I ever credit again.”Yes! A number of banks now offer "secured" credit cards where a debtor puts up a certain amount of money (as little as $200) in an account at the bank to guarantee payment. Usually the credit limit is equal to the security given and is increased as the debtor proves his or her ability to pay the debt.

Two years after a bankruptcy discharge, debtors are eligible for mortgage loans on terms as good as those of others, with the same financial profile, who have not filed bankruptcy.

The size of your down payment and the stability of your income will be much more important than the fact you filed bankruptcy in the past.The fact you filed bankruptcy stays on your credit report for 10 years. It becomes less significant the further in the past the bankruptcy is.

The truth is, that you are probably a better credit risk after bankruptcy than before.

see pic.twitter.com/8LZkAhtp

see http://www.facebook.com/attorneybankert

[1]
http://www.bankruptcyhq.com/how-often-can-i-file-bankruptcy

Sphere: Related Content

HAVING PROBLEMS PAYING YOUR DEBTS? FLINT BANKRUPTCY 235-1970

Because of our poor economy nationally and in Michigan many families have economic problems. Do you? Having  problems paying your debts? Is your family  threatened with garnishment, foreclosure or repossession? If yes you are not alone. see http://goodmorningflint.blogspot.com/2012/09/having-problems-paying-your-debts-flint.html

We are a debt relief agency helping you as a Flint Bankruptcy Lawyer h file and get relief.

Bankruptcy is a way to deal with these problems.

You Did  know you have the right under federal law to file for bankruptcy relief from your creditors.

The theory of Bankruptcy is that it is a legal proceeding in which a person can get a fresh financial start. Do you need as fresh start?

Try to pay your bills before filing bankruptcy because you can do so only once every six years. In most cases, you will want to save this valuable option until you really need it. Also, you may not need to file bankruptcy even though creditors are threatening you because you may have no nonexempt property or wages.

This means you have nothing the creditors can take from you. You can't be put in jail for failing to pay your civil debts (other than fines or other court ordered amounts).

Some things bankruptcy can do:

• Eliminate the legal obligation to pay most or all of your debts. This is called a "discharge" of debts.
• Stop foreclosure of your home and allow you to catch up on missed payments.
• Stop repossession of a car or other property, or, in some situations, force the creditor to return property even after it has been repossessed.
• Stop wage garnishments.
• Stop debt collection harassment.
• Restore or prevent termination of utility service for nonpayment of previous bills (you will probably have to pay a deposit, but the deposit cannot be more than 1-1/2 to 2 times your previous regular bills according to the Arizona Administrative Code).
• Get your drivers license back if it has been suspended because you didn't pay court-ordered damages for a driving accident (unless you were driving under the influence of drugs or alcohol).

Some things bankruptcy can't do

• Eliminate certain rights of secured creditors. Some examples of secured debts are car loans and home mortgages. You can force secured creditors to take payments over time, but generally, you cannot keep the collateral unless you continue to pay the debt.
• Discharge debts that arise after the bankruptcy has been filed.
• Discharge certain types of debts, such as child support, alimony (spousal maintenance), certain other debts related to divorce, most student loans, court restitution orders, criminal fines, and most taxes.
• Eliminate the obligation of a co-signer on your loan in most cases.

Chapter Seven Bankruptcy  is  known as a "fresh start" bankruptcy, or "liquidation". Your debts are discharged (canceled), but you must give up any nonexempt property to the trustee to pay to your creditors. You can keep secured property if you are current on the payments and continue making the payments regularly.

When you file for bankruptcy you will not be alone.
http://occupyflintlegal.wordpress.com/2012/09/11/when-you-file-for-chapter-seven-bankruptcy-you-will-not-be-alone-810-235-1970/

In Chapter 7 bankruptcy, the trustee must take your nonexempt property and use it to pay your creditors.Most debtors in Genesee County because of our loss of residential value keep all of their possessions that are not encumbered by a  loan or mortgage.  

If you have property, which is non-exempt, you could sell it before filing bankruptcy and use the money to purchase things, which are exempt; such are food, furniture, or clothing. However, you cannot give property away to friends or relatives, and have them give it back to you after the bankruptcy. Any transfers of property without receiving fair value for it within one year before filing bankruptcy are called a fraudulent transfer. The property could be taken by the bankruptcy court and sold to pay some of your debts. If the court finds you have been dishonest in your bankruptcy, you could be denied your discharge. You could also be charged with federal or state crimes, which carry serious fines and jail sentences.

Also, you cannot prefer one creditor over another by making payments on the debt within 90 days before filing bankruptcy (one year if the person paid is an "insider" (family, friend, etc.) If you do so, the bankruptcy court can take that money away from the person you paid. This is to insure that all creditors are treated equally. This does not apply, however, to regular monthly payments such as your car payment, house payment, rent, utilities.

Sphere: Related Content