San Diego Bankruptcy – The Truths and Myths of Bankruptcy
Filing for Chapter 7 Bankruptcy is usually the perfect action if you’re drowning in debt, and at your wits’ end. With the help of a San Diego Bankruptcy Attorney from the Doan Law Firm, you can regain control of your finances, and you can look forward to a brighter future. The Doan Law Firm retains only experienced and knowledgeable bankruptcy lawyers in California and we are dedicated to helping clients find just such a plan. Oftentimes, Chapter 7 Bankruptcy is the most promising option.
1. Provide a new financial start
2. Permanently eliminate the debts you can’t pay
3. Put you on a track to improving your credit score
4. Allow you to keep assets including your home and car
Chapter 13 Bankruptcy allows you to:
1. Consolidate debt into one low monthly payment!
2. Eliminate some or all interest!
3. Eliminate up to all unsecured debt and reduce your car payment!
4. Protect Assets, never any liquidation!
5. Protect co-signers!
6. Eliminate Junior Mortgages
7. Remain in control of all your assets.
8. Eliminate certain debts that can not be discharged in chapter 7(taxes, etc).
The Truth and Myths about Bankruptcy:
Bankruptcy is a process created to give consumers the opportunity to repay or eliminate debts. Don’t be fooled by bankruptcy myths…
Myth: Bankruptcy will prevent me from buying a house or car and make me ineligible for credit cards.
Truth: In most cases, CREDIT SCORES IMPROVE and you can:
1. Purchase a home in 2 years (FHA Financing)!
2. Finance a vehicle at Discharge (Replace Vehicle)!
3. Obtain credit cards at Discharge!
Myth: I will be discriminated against and everyone will know I filed for bankruptcy.
Truth: Federal law makes it illegal for anyone to discriminate against you because of bankruptcy. Although filing for Bankruptcy is public information, it is not published in the papers and other media, and takes considerable time and effort for anyone other than your creditors to know you filed.
Myth: The BAPCPA Bankruptcy Amendments of 2005 prevent me from filing bankruptcy.
Truth: The BAPCPA Bankruptcy Amendments actually make it easier to qualify for bankruptcy in many cases!
Myth: I’ll lose my house and my car if I file for bankruptcy protection.
Truth: As long as you stay current on your mortgage and/or car payments, you will keep your house and car in almost all cases.
Myth: Bankruptcy lowers my credit score.
Truth: Bankruptcy increases the credit score for 90% of our clients since the elimination of debt has a positive effect on FICO scores.
Myth: I don’t owe enough money to file for bankruptcy.
Truth: There is no debt minimum to filing for bankruptcy. We have filed for people who owed less than $2,000.00 and people who owed over $2,000,000.00! If you cannot afford to pay off your debts in the near future with what you make now, the amount doesn’t matter!
The San Diego Bankruptcy Attorneys at Doan Law Firm are California’s Largest Family of Attorneys, Specializing in Bankruptcy and Non-Bankruptcy Alternatives.
At Doan Law our Bankruptcy Attorneys will answer all your Chapter 7 Bankruptcy and Chapter 13 Bankruptcy questions. Call us now to meet with one of our expert San Diego Chapter 13 lawyer or San Diego Chapter 7 lawyer bankruptcy attorneys, at any of our San Diego Bankruptcy offices, call (760) 450-3333.
For more information from an experienced San Diego Bankruptcy Attorney from Doan Law Firm, please CLICK HERE. Hablamos Espanol.