Bankruptcy (Ch. 7, 11, 12 & 13)

To file or not to file

You should consider bankruptcy as an option:

Bankruptcy (Ch. 7, 11, 12 & 13)

To file or not to file

You should consider bankruptcy as an option:

• If family relationships are suffering due to finances
• If you are falling further behind every month
• If debt collectors are calling you at home and at work
• If you are living on credit . . . "robbing Peter to pay Paul."
• If you are facing wage attachment, repossessions or foreclosure

Common Mistakes to Avoid

Daniel Hoarfrost understands that nobody "wants" to file bankruptcy; and if there are better alternatives, he will suggest an approach unique to your own particular circumstances. What is most important, however, is to understand your rights and options before "fatal mistakes" are made. Here are just a few common mistakes to avoid:

• Working with most "debt consolidators/ credit counselors/ non-profit agencies": Why? Because most promise to get you debt-free, but are actually deceptive scams. Many will collect three months of payments from you before ever sending any portion to your creditors. After thousands of dollars are wasted, it usually takes four months before you realize that the "debt consolidation plan" was never reasonable or workable.
• Hiring a jack-of-all trades attorney: Why? Because you need a lawyer who is devoting their time and energy to understanding the local rules, who has earned a good reputation with the local Trustee and knows how the local Bankruptcy judge interprets the new bankruptcy law. Don,t take chances by hiring an attorney that could equally represent you in a real estate closing or speeding ticket. You can,t afford to hire an inexperienced attorney no matter how inexpensive the fee. When you need to file bankruptcy, the more experienced attorney will do a better job for you at a fair price.
• Robbing Peter to pay Paul: Why? Because certain desperate acts may delay the relief you could receive under bankruptcy protection laws. If you are tempted to take cash advances, balance transfers, payday loans, retirement account loans, or sell assets to pay bills, DON,T DO IT! Here is the key to knowing you need help: if your monthly living expenses already exceed your present monthly income, you need to call Attorney Hoarfrost.
• Believing common myths about bankruptcy? Why? Because lies cause fear and prevent one from getting the help he needs. Here are just a few of the myths Attorney Hoarfrost hears regularly. I,m afraid to file for debt relief because . . . . a) everyone will know I filed b) I,ll lose my job c) I,ll lose my home or car d) I,ll destroy my credit forever e) I,ll never be able to qualify under the new bankruptcy laws f) I could never afford to file. The tr
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