EVERYONE OUGHT TO KNOW ABOUT BANKRUPTCY:
1. That it is simply a set of laws that gives a person many wonderful rights.
2. That, like you, no one sets out wanting to do a bankruptcy.
3. That many people are able to get high credit scores 2 to 3 years after filing a bankruptcy.
4. That in MOST bankruptcies, the creditors GET NOTHING. It is simply not true that a Chapter 13 always means that you pay back your creditors. ZERO is often the case.
5. That there is almost ALWAYS A BANKRUPTCY that you can do, EVEN IF YOU JUST DID ONE. Whether that is a Chapter 7, a full Chapter 13, or a partial Chapter 13, you CAN get relief. Why be garnished?
7. That after bankruptcy you can pay back anyone you want. Do we want you to? NO. But if you ever want to and have the ability to do so, you certainly can; on your terms, without harassment from anyone. After you file bankruptcy your creditors cannot call you, write you, sue you, garnish wages, garnish bank accounts, lien your property, nothing. It is against federal law.
8. The payments in a Chapter 13 many times are lower than $90 per month, depending on what you need to do in a bankruptcy. COMPARE that to ONE FOURTH of your WAGES in a garnishment. I see no reason why anyone in this country needs to be garnished. There may be situations that I am not aware of, maybe taxes, maybe child support and maybe something else, but you need to see what bankruptcy can do.
9. That TAXES can be dealt with in a bankruptcy. Some of them may go away. Others usually are stretched out over 5 years.
10. That sometimes a SECOND MORTGAGE can be WIPED OUT. And when that happens it is AMAZING.
11. That when you are UPSIDEDOWN on a vehicle, sometimes your bankruptcy can lower what you pay so that you ONLY PAY the ACTUAL VALUE, not the whole loan. AND when that happens you STRETCH THAT AMOUNT over FIVE YEARS. It is called CRAMMING and it is another of the wonderful rights allowed by bankruptcy in some circumstances.
12. That when your vehicle can be CRAMMED, sometimes your total bankruptcy payment comes out to be LESS than your previous vehicle payment.
13. That Chapter 13 gives you FIVE years to CATCH UP your house payments.
14. That Chapter 13 gives you time to not only stop a foreclosure but time to modify your loan. We always encourage our clients to keep pursuing MODIFICATION with their mortgage company, even during the bankruptcy. If granted we can always change what we are doing.
15. That Bankruptcy is like politics and making sausage. You just want to know that the end product will help you, not the details of what all goes into it. Your life details will change daily and our job is to make the bankruptcy law bend and flex to meet your ever changing needs. People lose jobs, people decide to give back a home, people leave the planet; we work with you to meet your life changes, with always your needs in our hearts and a smile on our faces. Humor makes the world go round and everyone can laugh at the same time that we do the serious work of making this law make your life better. It is what it is.
16. That once you have decided on the details (keep the home or not, keep the car or stuff it in the face of the creditor, etc., etc.) there is always only one for you, Chapter 7 or Chapter 13. WE ALWAYS think about a Chapter 7 first as it is the quickest and cheapest, wham bam thank you mam, IF it is the best for your situation.
17. That after looking at the details of YOUR situation, that we find that you do not qualify for a Chapter 7, or that a Chapter 13 can do something wonderful for you, then we go that way. In our office you certainly are in the mix during the whole process. and YOU make the final decision. Our job is to make your decisions happen.
18. That as things change over the years in your life, that your bankruptcy can be CHANGED, whether that is to lower a payment, to convert from one to the other bankruptcy, or whatever it takes to make your bankruptcy fit your situation.
19. That sometimes dismissal of your bankruptcy and refiling due to changed circumstances to benefit you is the best option.
20. That you do not have to be wakened by your creditors in the morning and put to bed by them at night. Retain us and hang up on them. File bankruptcy and make them STOP FOREVER. You either can pay the money or you cannot. Where does it say that you have to take the abuse of hired guns harassing you for debt that you cannot pay?
21. That I have been doing this work for more than 30 years and I am more passionate now than I ever have been about what this law can do for people.
We enjoy what we do because Bankruptcy law allows us to make a living helping people through our knowledge of this wonderful law. Lives change for the better right before our eyes. What could be better?
I am Tony Cross and I have been helping people with bankruptcies for more than 30 years. Our firm also has 2 other serious and competent attorneys, my daughter Ashley and her soon to be husband David Drake. Our staff is rounded out by Claire and Andy and my son Corey, three of the nicest and most helpful people that you have ever met. Come see us for a free appointment and use our passion for what we do to make your life better. Thank you. Tony