Debt Solutions
In this economic climate where basic expenses are rising faster than your income – gasoline, food, transportation, taxes, mortgage, etc., are you finding it difficult to keep up with your bills? Have you had to choose between groceries, rent, and bills? Are you short every month and maybe every week? Have you maxed out your credit cards, lost your job, or incurred unexpected medical bills not covered by insurance?Can we help? Yes.
Is the only solution bankruptcy? No.
There are many misconceptions about Chapter 7 and Chapter 13 bankruptcy and other forms of Debt Solutions. At Shaw Legal Services, Ltd., we listen to each person’s needs and situation, and then we show you all the options that are available to you and help you make the right financial move. We work diligently to resolve any and all questions you might have relating to bankruptcy or any other financial protection you might desire. If bankruptcy is the best option, we will help you with either Chapter 7 or Chapter 13.
On the other hand, if bankruptcy is not the best option our attorneys will develop a plan of action to negotiate your debt down or eliminate it all together.
Schedule an appointment today, so that we can help you determine what is the best option for you. Our prices are reasonable; our attorneys and staff are experienced and we can help you put your financial issues to rest.
Bankruptcy
Bankruptcy is a viable option for many Americans. Even with the sweeping changes in 2005, many people still qualify for bankruptcy. Below are some myths and facts about filing for bankruptcy.Myth: If I file for bankruptcy I will lose all of my personal belongings!
Fact: In many cases you may be able to keep all of your personal possessions up to a statutory limit.
Myth: If I file for bankruptcy my credit will be destroyed - I will never be able to get credit!
Fact: Most people who file for bankruptcy will actually improve their credit score after filing for bankruptcy. In general, creditors are more willing to give lines of credit to those who have filed for bankruptcy than those who have collections, delinquencies and outstanding debts on their credit report.
Myth: Since the law change, I will not be able to file for bankruptcy!
Fact: Most people still qualify for bankruptcy relief. Its best to come in for a consultation.
Myth: If I file for bankruptcy I will lose my house and car!
Fact: In most cases, you can still keep your home and your vehicle, even if you file for bankruptcy protection.
Myth: If I file for bankruptcy my credit rating will be destroyed.
Fact: In many cases your credit rating will actually improve.
Myth: Debt Consolidators will make my issues go away for good and this is always better than Bankruptcy.
Fact: Consolidators will only negotiate a payment program that a creditor is not bound by. This will not help your debt situation and may actually increase the overall debt you owe through interest and other fees. You are not always better off with a debt consolidator. In fact, there are still different solutions to dealing with your debt and its best to consult with us first to determine what is the best solution for you.
What is the difference between Chapter 7 and Chapter 13 Bankruptcies?
Chapter 7
Chapter 7 bankruptcy causes the discharge your entire debt.Chapter 13
Chapter 13 involves the payment over time of a percentage of your debt. Typically 10% to 40% of your entire debt is paid in monthly installments up to a period of 5 years. After payments have been completed, the remaining debt is discharged.Debt Negotiation/Management
If bankruptcy is not an option for you, we still have other options available which include negotiating your debt, representing you in Court should you be sued, and/or renegotiating mortgage payments or facilitating short sales.Foreclosures
This is a major concern today. Record numbers of foreclosures are occurring all over America. Have you missed a mortgage payment or two? Are you shocked with overwhelming monthly payments because of an ARM? Is your mortgage company calling you about missed or late payments? Have you already been served with a Foreclosure lawsuit?Contact us immediately because we can still help you, but you cannot delay. There are strict time lines involved with mortgages. Denying the problem or ignoring the problem will only assure you that you will lose your home.