I'm thinking of filing for bankruptcy, to get out of debt. But I also wish to purchase a house. After filing how soon can I buy a house?
Ok here is my story...I filed chapter 7 bankrupsey last year. My husband left me with a 3mo old special needs baby and between paying for his doctor bills and putting myself through college I was in ,000 debt and I filed ch 7. Now I am out of college and want to get my credit back on track so I can buy a house in the next few years. I though if I got a credit card from a dept store to show that I can pay them back and establish credit that would work, but I get turned down every time I apply. My bank will not even let me have a debt card. I have a stable job now and I'm looking to settel down and get my life back on track. What steps do I need to take to get my credit back on track? Can anyone give me any advice?
Bankruptcy filings in the (United States~U. S.} are sharply increasing and the desire for trustworthy bankruptcy attorneys is prevelent more than ever. Nationwide bankruptcy filings last year topped 1.4 million, icreasing from 1.7 million in 2008 based on the Administrative Office of the United States Courts. At this speed citizens might see the number of bankruptcy filing top 2 million in 2010 and the number of bankruptcy attorneys and law firms offering bankruptcy rise as well to accommodate people filing personal bankruptcy. The Net is packed with bankruptcy attorneys and bankruptcy law firms advertising things like “ $100.00 get’s you started” and “free consultation” or “bankruptcy as low as” and so on, but beware of bankruptcy attorneys! When you see advertisements claimingadvertising “$100.00 get’s you started”, what do you really think you get for $100.00? You’re right, NOTHING! Also, if they offer you a free consultation make sure it’s with the bankruptcy lawyer that’s actually going to file your bankruptcy. The most common type of bankruptcy is chapter 7, but since the enactment of the “means test” in 2005 filing chapter 7 bankruptcies is more tough nowadays and more homeowners must now file chapter 13. While a chapter 7 allows anyone filing bankruptcy to completely eliminate their debt a chapter 13 is a repayment plan, usually lasting 5 years. A problem with bankruptcy is that it’s not an precise science and giant bankruptcy law firms, like Legal Helpers recieve numerous complaints from consumers attempting to get a discounted price when filing bankruptcy. The complete business mould of these law firms is to get a $100.00 downpayment so the consumer will not go anywhere else to hire a lawyer. ”It’s ridiculous, what do you think a bankruptcy attorney is really going to do for you for $100.00” says James D. Zhou, bankruptcy attorney in California and senior partner with the Law Offices of Zhou & Chini. Zhou goes on to say, "bankruptcy is complicated and consumers should look at paying a reasonable fee to a bankruptcy attorney to get a good answer. Repulsive stories about these mega bankruptcy firms are everywhere, these firms should consider being upfront and honest with their clients and tell them $100.00 is just to get them to commit to file bankruptcy with their office. Bankruptcy lawyers should typically accept payment plans but none we know of will file your bankruptcy petition unless you are paid in full".
While the cost for filing a chapter 7 throughout the land may range from $1200.00 to $4,000 depending on the location someone lives in and the complexity of the bankruptcy, the mass medium cost for a chapter 7 in California is about $2500.00 and $4,000 for a chapter 13 bankruptcy. If you try to find a bargain basement bankruptcy attorney on the world wide web you may end up with a larger problem than the reason you are filing bankruptcy. Normally when someone feels they're going bankrupt is when they start to scout out a bankruptcy attorney and price is their first priority. Expect to pay a fair and reasonable price for a bankruptcy lawyer and don’t think cheaper is better, or $100.00 get’s you anything but a concern. Most honest bankruptcy attorneys will allow you to make installments and then file your bankruptcy when you are fully paid up. Bankruptcy law offices like Zhou & Chini are all over the internet and typically won’t talk about their fees to file bankruptcy until they see the complexity of your case. While a uncomplicated chapter 7 may not involve reaffirmation of debt or motions to avoid a lien it may only cost you $1500.00 in Riverside County but as much as $2,500 in Orange County or Los Angeles County. When you hire a bankruptcy attorney or even consider a free bankruptcy consultation you should ask your bankruptcy attorney if he or she will be doing the actual bankruptcy filing or a paralegal. It might be worth a little more to make sure your case is handled in good order so you don’t get your case dismissed and lose out all together. While you can file a simple chapter 7 with a paralegal, you will expect to get better results with a bankruptcy lawyer that provides you a personalized service and properly explain the path to bankruptcy. If you're a California resident and need to file bankruptcy chapter 7 or chapter 13 remember this article, and remember if it sounds too good to be true it probably is. To speak directly with a bankruptcy lawyer or just to get more bankruptcy information click here www.BankruptcyAttorneyinCalifornia.com
I am only 25 years old and have a little over ,000 in revolving debt. About ,000 is unsecured credit card debt and ,000 is on a leased car. I am getting over my head in bills and falling behind by about 3 months on most of my credit card bills. I have creditors calling me and I avoid all calls now because they are so rude (as if I owe them personally). I am under so much stress that my health is being affected. I met with a credit counselor regarding debt management and came up with a plan to pay 0 a month to pay towards my debts, over a period of 5 years. I added it up and the debts I will be paying is only going towards the ,000 credit card debt and 0/month for 12 months for 5 years equals out to be ,000 that I will pay out on a 000 debt, well over what I originally owe. Also, I have done my research and debt management seems very similar to filing Chapter 13, so I am considering filing for a Chapter 7 bankruptcy, can somebody clarify what my advantages are over the disadvantages. I know that filing for bankruptcy is bad on my credit but I think that if I file bankruptcy it will be easier for me to save money towards big major purchases in the longrun. Plus I am only 25. Assuming by the time I am 30 it should be alll good right? Am I thinking naively? Also I was thinking that if I file before my fiance and I get married, it would be much better? Also what exactly do I need to qualify for a Chapter 7? Please help!!!!
My wife and I are contemplating claiming Chapter 7 Bankruptcy to rid ourselves of K credit card debt and a 0/month lease car payment (wife has been unemployed for 4 months). Can we start to build our credit back if we keep current on our mortgage payment as well as the other car payment we have? We have also heard that credit card offers will come soon after filing because they know you can't claim bankruptcy again (if this happened we would want an EMERGENCY card with a ,000 balance that we can pay off monthly which would ideally show positive on our credit). Ultimately we will have the finances freed up to do everything in cash and become "cash positive" so to speak. We need this fresh start with our 1st baby on the way!!!
