Charlotte bankruptcy attorneys from Total Bankruptcy help work for your rights
The Charlotte bankruptcy attorneys who sponsor Total Bankruptcy are very disturbed by the bankruptcy laws. These Charlotte bankruptcy attorneys point out that the bankruptcy law requires debtors to receive credit counseling and puts up other hurdles to make filing difficult.
Our Charlotte bankruptcy attorneys believe that this may make it hard for consumers to wipe out credit card bills and other loans that may not be secured by a house or other asset. It may also require the courts to apply strict tests to be sure people with the means to do so should repay some of their debts.
Our Charlotte bankruptcy attorneys are warning concerned citizens that the bankruptcy laws could have big repercussions for consumers, creditors and the economy. They question whether the millions of debt-burdened individuals and families may be able to pay back the money they owe. Through their experience with hundreds of cases, our North Carolina bankruptcy attorneys instead fear that the extra burden may push more people into poverty.
» Back to Locations Map |
Another major concern by many of those involved in this area of law is whether banks, credit-card companies and others lend more readily because they may be more likely to get paid back. On the other side is the possibility that people may borrow more and spend less, and thus depress the economy.
Other professionals are concerned about the effects that the law will have on lower income or single parent families with young children. When someone is earning $15 an hour with no health insurance, it may only take one illness or hospitalization to keep them out of work long enough to seriously cut their income - plus run up thousands of dollars in health care bills.
In addition, financial problems have surged as more families are able to borrow more money. Lenders, particularly companies pitching credit cards and home-equity loans, have given credit to many who may not have qualified a generation or two ago. Americans currently owe $2.12 trillion, not counting their mortgages, 110% more than they did a decade ago. Their financial assets have risen 94% in the same period and their incomes have gone up by 65%.
In 2001, the average credit card holder had five cards and a balance of $1,900, according to a Fed survey. About 83% of college undergraduates had credit cards in 2001, up from 67% just three years earlier.
If you should like to find out more about how the bankruptcy laws may effect your financial situation, simply call our toll-free number 1-877-349-1309. You can also use our online case evaluation form. Simply fill out this secure online form with a few details about your situation. All information is kept strictly confidential. One of our experienced legal professionals should contact you at the convenient time you schedule to provide a free, no-obligation consultation.
Click Here For a Free Bankruptcy Evaluation
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.