Established in federal law, bankruptcy is a proven method for getting out of debt, but those in financial hardship are often uncertain about the costs involved. While you can technically file bankruptcy by yourself, experience matters tremendously and can mean the difference between keeping or losing property, having to re-file your case or even going to jail.
When you’re living paycheck to paycheck, struggling to pay your bills, panicking about creditor calls and trying to determine which bills you’ll default on next, every expense can bring frustration, anxiety and distress. Your stomach may be twisting with tension, you may be ignoring creditor calls, and leaving bills unopened... If that’s the case, then we have some great news:
Bankruptcy is our passion. For over a decade the attorneys at Lincoln Law have honed their understanding of the legal system to provide debt relief to thousands of deserving families. We deal with the bankruptcy code and applicable local laws on a daily basis.
If you feel like credit card debt has taken over your life, statistics show that you’re not alone. Recent numbers from the Nilsson Report reveal that the average American household carries over $8,000 in credit card debt. With the national unemployment rate hovering at 9.5%, it’s no wonder that Americans are turning to credit cards to meet their everyday needs.
In October 2005, the laws which govern Chapter 13 bankruptcy changed. One of the more significant ways the law changed dealt with the eligibility requirements for filing for Chapter 7 and Chapter 13 bankruptcy.
Vehicle repossessions are unfortunately quite common as many people are still struggling to gain a foothold in the unsure economy. Falling behind on vehicle payments can occur for a variety of reasons, with medical hardship and job loss as two of the biggest contributing factors.
Throughout American history, innovation, the will to succeed and the willingness to take risks has defined entrepreneurs. These are the individuals who built our country and our economy. Every business has a story to tell, and all too many of those stories involve being bested by the innumerable challenges and uncertainties that business owners face on a daily basis. And so, knowing how to deal with an unsuccessful venture is just as important as knowing how to manage the growth of a successful one.
Relatively new legislation has framed bankruptcy to limit the amount of Chapter 7 bankruptcy filings. This is controlled by restricting Chapter 7 bankruptcy to only people that fall under the median state income, when adjusted for inflation and family size. Individuals above the median household income can only file for Chapter 13 bankruptcy. The new laws further changed Chapter 13’s duration to a compulsory 3-5 year period.
There is no substitute for experience, experience makes all the difference, and experience doesn’t have to cost more. Facing bankruptcy means you’re already having a very tough time. The last thing you need is for your attempt to solve the problem to go wrong, making your matters worse. When you need to file bankruptcy, you need it done right.
We have the experience, and the cases to prove it.