You should call a Buffalo bankruptcy lawyer from Total Bankruptcy to learn about your options.
Anyone thinking about filing for debt protection should talk to a sponsoring Buffalo bankruptcy lawyer of Total Bankruptcy as soon as possible.
A sponsoring Buffalo bankruptcy lawyer may be able to help you now. With the current bankruptcy laws, filing for Chapter 7 protection is much more difficult and many more cases may be disqualified or converted to a Chapter 13.
Under the bankruptcy laws, more debtors and their Buffalo bankruptcy lawyers may be forced to file a Chapter 13 case which requires payment toward debt under a court-ordered repayment schedule over three to five years.
A sponsoring bankruptcy lawyer of Total Bankruptcy may advise people with serious financial problems to act now.
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If you feel that you may be danger of needing to file either a Chapter 7 or Chapter 13 case, the time to act is now. Total Bankruptcy should make it easy to locate and talk to experienced professionals in your area. All you need to do is call our toll free number, 1 (877) 349-1309. Or, fill out our secure online case evaluation form with a few details about your situation. All information is kept strictly confidential. One of our experienced New York legal professionals should contact you to set a convenient time for a free initial consultation.
New changes to the law sponsored by the credit card industry.
The current bankruptcy law is an attempt to stem "abuses" from consumers that may have fallen deeply into debt and then look for an easy way out. They argue that the number of filings have skyrocketed in recent years. They also point out that roughly 70 percent of cases are filed by consumers under Chapter 7 - which discharges all of their unsecured debts (mainly credit card and medical debts). Last year, more than 1.1 million consumers filed under Chapter 7, while only half that number filed in 1994, according to the American Bankruptcy Institute, a research group.
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While some consumers may overuse credit cards without any intention of repaying their debts, nearly 90% of cases are filed by individuals who are facing unforeseen problems, such as uninsured medical bills. Individuals caught in this no-win situation may also fall prey to the credit card companies widely adopted universal default policy that raises interest rates to 25 percent and higher if consumers make one billing misstep with an unrelated creditor.
Critics of the bankruptcy law say that it removes a safety net for Americans - and hit hardest the low-income workers, minorities, single mothers and the elderly. Consumer advocates estimate that between 30,000 and 210,000 people will be disqualified to file under Chapter 7 under these laws.
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The purpose of this web site is to help you learn everything you need to know about bankruptcy, the process, your bankruptcy attorney and your legal rights. The best place to start is with the U.S. Bankruptcy Code. It delivers protection to people in financial jeopardy who are suffering under mountains of debt. Bankruptcy is your legal right.