It's not a great moral sin to go into bankruptcy. Just look at the seminal American department store chain K-mart. They went bankrupt in 2002 and rebounded just 15 months later. When you (or K-mart) declare bankruptcy, you are given an opportunity to try to get your life back on track without the people that you owe money breathing down your neck.
In the old days, if you couldn't pay your bills, you were thrown into debtor's prison. Believe it or not, going through bankruptcy Proof of Claim court is better than going to prison.
Bankruptcy Lawyer Miami, Bankruptcy Lawyers Phoenix, Bankruptcy Lawyer NYC,
The Last Resort
Declaring bankruptcy will stay on your credit record for ten years, so be sure this reality is something you can live with. Bankruptcy Proof of Claim court's rules and regulations differ from state to state, but the only state you need to worry about is the state you live in (or your primary state of residence.) You can do deal with the Proof of Claim court on your own or you can hire a lawyer. If you are not familiar with bankruptcy Proof of Claim court, then it will cheaper in the long run to hire a lawyer. Ultimately, though, you need to decide whether you are claiming a Chapter 7 bankruptcy (liquidation of everything you own) or a Chapter 13 bankruptcy (a repayment plan).
Filing a Proof of Claim
A Proof of Claim needs to be filed within 90 days of your meetings with your main creditors (banks or credit card companies, for example). You are called the debtor. Whoever you owe money to is called a creditor. They have to give you about 100 days before they have a meeting with you (called a "341 meeting") where you officially declare bankruptcy. As a debtor, you are not responsible for filing the Proof of Claim forms. Instead, it is the creditors' responsibility to file the claim in court. If they don't do this on time, they will lose any right to the financial that you owe.
Other Tips
When you declare bankruptcy do not use any credit cards. This will look bad to any state's bankruptcy Proof of Claim court. Also, you should not be worried about your employer or landlord being notified of your bankruptcy. Federal law requires that your employer and landlord need not be informed of your bankruptcy. Although, bankruptcy claims are considered public records, it would be up to your employer or landlord to check the records out. In reality, only a small percentage of employers and landlords research your bankruptcy history to this degree.
San Diego Bankruptcy Attorneys
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of San Diego Bankruptcy Attorneys
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment