Understanding Bankruptcy
Comprehensive Debt Solutions
Are you considering bankruptcy? Millions of Americans face this difficult question today. Whether to file for bankruptcy or seek other debt solutions for indebtedness is certainly on the minds of more and more Americans in these troubled economic times. If you find yourself in this situation, a dedicated and caring attorney will help you find the right solution to put order into your finances and your life back on track. Through personalized service and individual attention, Price Law Group has assisted over 100,000 people just like you nationwide to successfully eliminate debt and secure a brighter future.
The firm serves clients nationwide, and through membership in the National Association of Consumer Bankruptcy Attorneys (NACBA), maintain a voice for you in the halls of Congress, the Judiciary and other arenas affecting consumer debtors. Further, the professionals at Price Law Group retain an A rating for business reliability and performance with the Better Business Bureau. You can trust the legal team for compassionate, kind, professional service for debt relief solutions that fit your situation.
Chapter 7 Bankruptcy
Known as "liquidation" or "straight" bankruptcy," Chapter 7 provides filers, who have fewer assets, much needed protection from creditors and relief from overwhelming and burdensome debt. It allows you to clear or cancel most (or all) of your outstanding debt quickly and to make a fresh start financially.
Chapter 13
Chapter 13 bankruptcy, often called "wage-earner's bankruptcy," provides individuals in higher income brackets needed relief from creditors and debt with a creditor payment plan through a bankruptcy court. The plan is tailored to your financial situation and allows you to pay off creditors in installments until such time as the debts are fully satisfied.
Alternative Debt Solutions
Credit Repair
After your Chapter 7 or Chapter 13 bankruptcy has been discharged, the next step that needs to occur is the repair and restoration of your credit. Many people do not know that the Fair Credit Reporting Act (FCRA) gives individuals the right to correct false or incorrect information on their credit reports.
Foreclosure Prevention
Foreclosure is the legal process by which a lender reclaims a home or other property to regain the outstanding balance on a mortgage or loan. Filing bankruptcy stops the foreclosure. Actions to prevent foreclosures must be taken quickly. Consulting a qualified professional knowledgeable in bankruptcy law and with the time restrictions involved, could save you and your family from losing your home or other valuable property.
Loan Modification
A loan modification is a process by which new terms are worked out on an existing loan agreement. Time, perseverance and dedication are the qualities needed to successfully negotiate a loan modification. Consulting bankruptcy professionals experienced in this process is a causative step toward satisfying a loan agreement under less burdensome terms.
Short Sale Negotiation
Negotiating a short sale is sometimes the best solution for an individual. A short sale is an agreement between a homeowner and the lender(s) to sell the home for less than the amount owed. Proceeds from the sale are turned over to the lender(s), which may fully satisfy the debt. At Price Law Group, the bankruptcy attorney is aware of all the different options available to you; a short sale may be right for you.
Debt Settlement
Debt settlement is a process in which your attorney contacts each of your creditors to negotiate a settlement with them that consists of a portion of the total debt owed. It is a complex process best managed by nationally respected financial professionals. The firm has a proven track record of helping tens of thousands of people just like you using this debt management tool.
Creditor Abuse
If you have been abused or harassed by creditors the firm can help. Creditors have the legal right to collect debts owed to them, however, harassing or threatening those who owe these debts is not legal. The knowledgeable attorneys of Price Law Group understand both state and federal law governing fair debt collection practices and will work diligently to silence abusive creditors.
Insurance Settlement
When you have fulfilled your obligation to your insurance carrier by paying your premiums in good faith, you expect them to fulfill theirs in your time of need. When your insurance company delays payment, low-balls the settlement amount, falsely denies your claim or otherwise acts in bad faith, they become part of the problem. The solution is to seek the help of an attorney from Price Law Group.
Tax Resolution
In tough times when income just covers the basics of survival, getting behind on tax payments can happen. A business downturn, a serious illness, can lead to a missed payments, unfiled returns and large penalties. You may face the IRS or a state tax agency knocking at your door. An attorney from Price Law Group can find solutions for business owners and individuals to seemingly insurmountable tax problems.
Do I Qualify for Bankruptcy?
In order to find out if you qualify for a Chapter 7 bankruptcy, you will submit a "means test" to the bankruptcy court. Your income will be compared with the median income of a family of your size in the state in which you live. When your income falls below the median, you qualify for Chapter 7 bankruptcy. If higher, there are other beneficial solutions.
How Much Does Bankruptcy Cost?
Since no two financial situations are the same, no two bankruptcies will be completely alike. Additional or optional debt relief remedies may apply. If it is decided that bankruptcy is the right choice for you, which type you can file and additional services you may need or choose determines the cost. A free consultation with an attorney from Price Law Group will get you started.
How Can I Save My Home?
Many effective alternatives to foreclosure are available to homeowners. When foreclosure proceedings are imminent, property owners can feel they are without options. An attorney from Price Law Group can guide you through the financial relief method that best suits your circumstances.
Fair Debt Collection Practice Act
When a debt collector becomes abusive, you may have the option of taking legal action. Our goal is to end the financial strain you may be suffering under the burden of heavy debt, including filing suit against an unethical debt collector. Several debt relief solutions and financial management tools are available to you through counsel with a Price Law Group attorney.
Bankruptcy Myths
There are quite a few common myths about bankruptcy, including considerations such as: "You will lose your home and car." "You will never get credit again." "The 2005 law changes make you ineligible." "Creditors will keep hounding you after you have filed." Avoid listening to these verbal data.
Estate Planning
Estate planning is one of the most important steps any person can take to make certain their final property and health care wishes are honored, and that providing for loved ones is accomplished in a timely manner. An attorney from Price Law Group can explain all options available to you in meeting your estate planning goals.
Exemptions in Bankruptcy
There are certain legal provisions by which your home, vehicle, and personal property are protected under Nevada state bankruptcy laws. They vary depending on whether you file for Chapter 7 or Chapter 13 as well as the state of your financial affairs.
Benefits of Bankruptcy
There are benefits to bankruptcy. It can delay or prevent foreclosure, discharge debt and suspension of insistent or creditor calls and harassment. To determine whether or not filing for bankruptcy is the best option for you, it is important to understand all your options.
Life After Bankruptcy
Life can substantially change for the better after filing bankruptcy. The consequences of heavy debt may have you in an intolerable financial condition to which filing a Chapter 7 or a Chapter 13 is the best solution. However, there are several debt relief tools that may prove more beneficial in your situation. It is recommended that you have a free consultation with an attorney from Price Law Group before you take action.