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chapt 7 bankruptcy with small town lawyer, cost ?

Discussion in 'The Lounge' started by R72K5, Jan 30, 2005.

  1. R72K5

    R72K5 Banned

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    anyone around here do this recently ? whats it cost ? or what should it ? and if i was to soon aquire a 7.50 or so wage an hour job would that hurt me ? i been out of work since layoffs in aug 02 and permanent aug 03,

    from what ive read now is the time to do it, asap, sounds like it wont be very easy to do in the future, but still:

    ---
    Law Changes
    Pressured by the multimillion dollar lobbying effort of credit card companies, Congress is currently considering passing a new bankruptcy law that would severely limit your ability to eliminate debt. The credit card companies have hired some of the most prestigious lobbying firms in the country to pressure our legislators in Washington. The law change could go into effect some time this year. The law affects your ability to get relief under both Chapter 7 and Chapter 13.

    Under Chapter 7, the new law would prevent you from eliminating your debt if you made at least the median U.S. income and could afford to pay back only 20% of your debt in installments of at least $50 per month over at least a 5 year repayment plan. What is worse is that the Government would determine your ability to make these monthly payments using IRS standards for household expenses, which in many cases are not realistic, and do not consider individual circumstances.

    Under the present law, honest people like you can completely eliminate credit card debt, medical bills and personal loans, without having to pay back the creditors over a five-year period. If you are presently in a position where you feel that you may not have the ability to repay your debt, now is the time to consult with one of our attorneys. We recognize that our clients are honest people who have either suffered a personal catastrophe or have become over-extended over a number of years and are using our services only as a last resort. Human nature is to procrastinate in acting to solve unpleasant circumstances. Do not delay. Your rights may be severely restricted in the near future.

    Consider the following: if you had a drastic reduction in income, but your expenses have not changed, under the new law you could be forced to repay your debt. If you suffered an illness or injury, you may be forced into a five- year repayment plan just because you could not afford health insurance in the first place. If you were in a car accident and were uninsured because you could not afford car insurance, you would be forced to pay 100% of your expendable income each month into a court-ordered repayment plan, or suffer garnishments and other creditor action against you. If you are going through a divorce and household income has been cut in half, under the new law you may no longer be eligible for a discharge of your debts. Currently, Legal Helpers can still help people in all of these circumstances. Do not delay. Act now, before it's too late.

    Many of the proposed changes discussed in this site could very well be law in the next 6 months. Do not delay. Think carefully about the potential urgency with which you must act. The bankruptcy attorneys at Legal Helpers can help you now.

    copyright legalhelpers.com
    -----


    thanks
     
    Last edited: Jan 30, 2005
  2. outlaw612

    outlaw612 1/2 ton status

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    Im not sure about the cost, but I think you have to have a certain amount (Minimum) to declare bankruptcy. I dont know your finances, but from reading the posts youve made here you dont have alot of bills. Sometimes there is no other way out, but bankruptcy should be a last restort. It will pretty well screw ya for quite a while.
     
  3. big83chevy4x4

    big83chevy4x4 3/4 ton status

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    my sister had to do this recently, everyone wanted at least $1000 for chapter 7, even in our small town. she ended up calling a lawyer in big city and they wanted $750 and could do it in payments.

    start calling and find the cheapest place. just because your in a small town doesn't mean small prices.

    also make sure this is what you want. remember 7 years...
     
  4. bigyellowjimmy

    bigyellowjimmy 1/2 ton status

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    Instead of paying for a bankrupcy use the $1,000 to pay off your credit card. Then join the military and let Uncle Sam take care of you since you wont find a job. Dont tell me there arent jobs there, I can honestly say I could find you a job here so there is work. Life is all about choices........
     
  5. boggerless

    boggerless 1 ton status Premium Member

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    your right TJ, it takes awhile to get back in the credit game. but alot of places will give you a loan the NEXT DAY cuz you can't file again for seven years. you have to pay them back.you will pay a higher interest rate.but get credit just the same. so think how you can do this and do whats best for you.:grin:
     
  6. cbbr

    cbbr 1 ton status GMOTM Winner

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    Costs is between $650 and $1100 for legal fees depending on where you are living. Filing fee is another $200. Attorneys will not normally set up payment plans for chapter 7's because the fees, if not paid before filing, are discharged. Most will set up payments for a Chapter 13.

    Don't be scared into doing something that you otherwise wouldn't by the proposed changes in the law, congress has been trying to do that since the mid 90's. Also, the real changes only effect certain things, most of which aren't a problem for most people.

    http://bankruptcy.findlaw.com/ is a good place to start - you can read about bankruptcy and find local attorneys.

    If you need any help, PM me the specifics and I will be glad to give you the basics.
     
  7. laketex

    laketex 3/4 ton status

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    PAY YOUR DEBTS. FIND A JOB, MOVE IF YOU HAVE TO. And quit this bull****!:mad:
     
  8. Shaggy

    Shaggy 3/4 ton status

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    Sorry, I have to comment on this. Don't "honest" people PAY BACK money that they borrow from credit card companies and on personal loans, and pay their medical bills?
     
  9. cbbr

    cbbr 1 ton status GMOTM Winner

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    In principal I agree. I am a corporate attorney and I collect debt and defend an insurance company in bankruptcy court, among other things, for a living.

    Ten years ago, when I started practicing, I could not have agreed more - my principals led me into this line of work and I have foreclosed on a great deal of property over the years representing, among others - FMCC, Mitsubishi, Chrysler, GMCC, Bank One, Chrysler Financial, Daimler-Benz, and a dozen other manufacturers credit card companies and banks while in private practice.

    Experience has taught me that people get in over their heads. They may be s***heads, or they may get laid off, have medical emergencies (kids are great for this) or experience other problems that are not of their own making. In some cases people make bad decisions. In some cases people just have bad luck. Sometimes its a combination of the two. This has led me to rethink my views on the bankruptcy system.

    I am in bankruptcy courts often enough to have learned not to judge people, although I still collect debt on a daily basis. Just my .02
     

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