The Benefits Of Bankruptcy In California

In a nutshell, the benefits of bankruptcy soon become crystal clear for our clients at Bird & Van Dyke, Inc., in Northern California:

• Once debtors retain our law firm, they can refer creditors to our law offices and stop the harassing phone calls.
• The automatic stay goes into effect upon a debtor’s bankruptcy filing. Creditors are forbidden from attempting to collect on debts.
• Filing bankruptcy can stop foreclosure, wage garnishment and bank levies.
• When the bankruptcy is complete, most debts are discharged. This means they no longer exist, and creditors can never again try to collect on them. There are stiff penalties for creditors who violate this ban on collecting after a bankruptcy.
• Debtors have the opportunity to walk away from unmanageable debt with a clean slate.
• Euphoria and a deep sense of relief are common reactions for newly free debtors who have been struggling with overwhelming debt.
• Many of our clients say the day after their bankruptcy is complete, they are free from debt for the first time in their adult lives. (Many still have mortgages, car loans and/or student loans, but they have no more credit card bills or medical bills hanging over them.)

Stop Creditor Harassment

Anyone who has struggled with debt knows creditor collection actions can verge on psychological harassment. Phone calls never stop. In fact, many debtors get calls at night, and even at work. Creditors make threats to garnish wages. They may even contact your family members and neighbors.

Many find themselves being put over the edge when collection actions never stop. But there is relief. As soon as you file bankruptcy, creditors are legally required to stop all collection actions against you.

To find out more, contact the law firm of Bird & Van Dyke in Stockton, California.

How Does Bankruptcy Stop Creditor Harassment?

Filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy creates what is known as an automatic stay, a legal order that prevents creditors from making harassing phone calls, contacting you, or taking any other action against you.

The Fair Debt Collection Practices Act

Debt collection agencies are required to follow the guidelines established by the Fair Debt Collection Practices Act. These rules prohibit creditors from taking certain measures against a debtor, including threats of bodily injury and calling past a certain hour. This is just one of many benefits of bankruptcy.

When To Consider Bankruptcy

Good people from all walks of life find themselves in financially troubling situations all the time. But sometimes circumstances beyond their control cause them to seriously consider bankruptcy: overwhelming medical bills, job loss, credit card debt, and more.

Making the decision to file bankruptcy is never easy. But if you are dealing with never-ending creditor harassment, it may be time to talk over your legal options with an attorney. Even if bankruptcy is not your best option, a lawyer will able to recommend a course of action based on your specific needs. Attorney has more than 15 years of experience in bankruptcy law. He can help you determine a debt-relief plan that considers your specific financial concerns.

Credit Card Debt Relief

There is much talk these days about our country’s economic crisis. Thousands upon thousands of people have lost their jobs. Countless families have lost their homes to foreclosure. Many have been struck by natural disasters such as floods, fires and earthquakes. At our California law offices, we often hear tales of these types of misfortunes.

Mortgage troubles, medical bills, business debts, student loans, unpaid back taxes and other types of debt have burdened our clients at Bird & Van Dyke, Inc. – A Professional Law Corporation. Regardless of individual circumstances, however, the most common type of debt we hear about in our law offices is credit card debt.

If You’re Behind On Your Credit Cards, You’re Not Alone

Credit card debt is a problem for many debtors these days for a number of reasons:

• Lending banks have aggressively overextended credit to millions of Americans.
• Far too many debtors have fallen into a “credit card debt hell” they do not know how to get out of.
• One late payment — even for a different credit card, and even because of mail delivery problems — can trigger rising interest rates on all cards.
• Even when you make your payments on time, banks sometimes abruptly raise interest rates and change other terms of credit cards.
• A high interest rate can make previously manageable credit card debt suddenly unmanageable.

Some credit card holders eventually reach a point where they wonder if bankruptcy is the next step. Many feel like failures. However, our California bankruptcy attorneys are here to tell you financial woes including out-of-control credit card debt strike people of all walks of life. You are not alone by any means.

For many individuals and couples, Chapter 13 or Chapter 7 bankruptcy brings needed debt relief. In a Chapter 7 bankruptcy, all credit card debt is typically discharged. In a Chapter 13 bankruptcy, the total to be repaid on credit cards may be significantly less than what was originally owed, and with very low interest. In many cases, this is the most significant benefit of filing for bankruptcy.

Our Attorneys Can Help Stop Creditor Harassment

To speak with a lawyer about Chapter 7 bankruptcy, Chapter 13 bankruptcy, credit card debt or other debt-related matters, contact Bird & Van Dyke. Call our office in Stockton: 209-507-0479. Credit card debt? Attorneys at our law firm can help you get the relief you need.

Medical Debt Relief

Many people do not realize medical debts can be discharged through bankruptcy.

In the current economy, more and more people are finding themselves without health insurance due to job loss or decreased benefits. Then, when struck with illness or injury, they find themselves unable to pay for medical bills. Even with health insurance, it is not uncommon for a claim to be denied or for the insurer to drop coverage altogether.

If you are struggling with unpaid medical bills and don’t know how you will pay for them, consider talking to a bankruptcy attorney. At Bird & Van Dyke in Stockton, California, we can provide you with the information you need to make sound financial decisions about your future. Contact us today to schedule a free consultation.

Eliminating Medical Debts Through Bankruptcy

Anyone who has stepped foot into a clinic or hospital knows how costly any medical procedure can be. When faced with prolonged illness or an unexpected surgery, medical costs can skyrocket.

Both Chapter 7 bankruptcy and Chapter 13 bankruptcy can be used to discharge hospital bills. Chapter 7 bankruptcy, known as liquidation bankruptcy, immediately discharges debt. Chapter 13 bankruptcy, which reorganizes debt, will discharge debt over time.

Life After Bankruptcy

Many people approach bankruptcy with feelings such as dread or fear. They are often afraid life after bankruptcy will leave them out in the cold, with their credit reports ruined and no access to affordable credit anymore.

In fact, we often tell clients that like any other major life transition, a debt discharge is not the end so much as it is a new beginning. There are benefits to anticipate in your life after bankruptcy as well as cautions to consider.

Negatives? A Few, Yes.

There will be a record of your bankruptcy on your credit report for up to 10 years. Some creditors may use your bankruptcy as a reason to deny you credit. And there is no guarantee someone who does a background check on you for any reason in the future will not show you prejudice because of your bankruptcy. Furthermore, some debts cannot be discharged in bankruptcy: back child support, student loans and most taxes, for example.

Positives? Many Clients Say They Outweigh Negatives By Far.

The good news about life after bankruptcy is you will have the opportunity for a fresh start: a chance to start anew with a clean slate. Most people experience great sensations of relief after a bankruptcy discharge is complete. Many say they are able to sleep well for the first time in many months or years. Others express joy and relief over the lifting of a major source of stress and worry.

Reaffirming Debts

Many bankruptcy filers have the opportunity after a bankruptcy is complete to reaffirm debts, including mortgages and car loans. Talk to your bankruptcy law attorney to determine whether this is a smart move in your case.

Credit After Bankruptcy

You are likely to receive offers for new car loans and new credit cards not long after the bankruptcy. You may qualify for a new home mortgage at market interest rates within a year or two. We advise our clients to proceed with caution, however, remembering out-of-control debt was what sent them on the path to bankruptcy.

Keep in mind you will be unable to file for bankruptcy again within eight years. Therefore, you should be careful about the use of credit after bankruptcy.

Free Consultations About Consumer Debt Relief

Talk to a lawyer about personal bankruptcy, small business bankruptcy, foreclosure actions or any debt-related matters. Contact Bird & Van Dyke, Inc., at our law office in Stockton: 209-507-0479. Rest assured, there is life after bankruptcy, and we can help you get there.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.