Duration : 0:3:20

Technorati Tags: bankruptcy, chapter 13, chapter 7

Washington business and real estate lawyer Jeff Helsdon discusses whether or not a Chapter 11 bankruptcy is the right choice for you.

When comparing different bankruptcy options, you may have a lot of questions about which plan would work better for you. A Chapter 11 bankruptcy plan is available for both individuals and business, small and large. The advantage of a Chapter 11 bankruptcy is that you are able to restructure your debt and still remain in business. This plan allows you to work day to day, but rebuild your credit and debt relationship while you do so.

If you have knowledge in the bankruptcy field, you may want to file for bankruptcy yourself. And that is an option, but you should know there are a lot of details and decisions that must be made to not only file but continue with the plan. As an individual this is possible. However, a business may not file a Chapter 11 bankruptcy by them, this is against the law. A business must have an attorney guide them through this very detailed process. Watch the video now to learn more.

For more information about business law and my firm, visit our educational website at http://www.tacomalawfirm.com, where you can view more information on all types of bankruptcy plans. If you have legal questions, I want you to call me at (866) 309-1031. I welcome your call.

Oldfield & Helsdon, PLLC
1401 Regents Blvd., Suite 102
Fircrest, WA 98466
(866) 309-1031

Duration : 0:2:29

Technorati Tags: attorney, bankruptcy, business, capital gains tax, Chapter 11, fircrest, investment property, IRS, jeff helsdon, lawyer, like-kind properties, Real Estate, seattle, sell, tacoma, wa, washington

Duration : 0:3:49

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Chapter 7 is the easiest and most sought after bankruptcy filling in the United States. Established under Title 11 — Bankruptcy Court, Chapter 7 enables debtors, such as distressed borrowers, to unload all their debts in exchange for a fresh start. Debtor’s assets are collected and liquidated to satisfy outstanding debts depending on rank, amount and priority. Both federal and state laws provide exemptions to protect life style of debtor. Usually, most Chapter 7 cases take anywhere from 3 month to 6 month before debt is discharged.
Depending on the district of filing, certain debts will not be discharged, such as student loans and back owed taxes. Securities securing secured debts, such as real property in mortgage loans, will revert back to the original creditor. Unsecured debt, such as credit card purchases and medical bills, will be dropped unless creditors can demonstrate a pattern of ill intentions and evil doing. Previous judgments and child support payments can be discharged through Chapter 7 bankruptcy.
All discharged debts become invalid releasing debtor from liability of repayment. Creditors of discharged debts can’t pursue debtors for payment or collection. Very rarely, the court may grant an appeal to discharged credit holders. Chapter 7 filers will need to attend and be present at a number of court hearing including question sessions conducted by their creditors.

A Chapter 13 bankruptcy is a debt repayment plan allowing debtors to reconstruct their lifestyle to accommodate a drastic change. Very different from Chapter 7, Chapter 13 requires debtor to repay back a portion of their debt in the form of monthly payments. A trustee is assigned the case to act in favor of the creditors with rights to enforce judgment of debtors who fail in their obligations.
Chapter 13 bankruptcy lasts anywhere from 3 to 5 years depending on the repayment plan. Certain debts will be dismissed while other debts will become part of the payment plan. The payment plan itself varies depending on the current income level maintained by the debtor. Thus, if the debtor’s income increases, the payment amount will increase accordingly.
Chapter 13 allows debtors to maintain certain credit lines open. It also allows debtors to maintain title for secured debts, such as real estate. For distressed homeowners, Chapter 13 filing may save their homes by forcing lenders to accept reduced payments for a certain period of time.
Debtors who used the service of an attorney at law become his/her client until their case is discharged by the bankruptcy court. If a debtor changes his/her address, debtor must notify trustee, his/her attorney, and the court. In a Chapter 13 bankruptcy, debtor carries much of the responsibilities associated with their case.

www.habashylawfirm.com – 1-877-529-5090

Duration : 0:3:51

Technorati Tags: bankruptcy, bankruptcy court, Chap 13, Chap 7, chapter 13 bankruptcy, chapter 7 bankruptcy, debt help, debt solution, discharge, Habashy Law, Habashy Law Firm, help with credit cards, IRS debt, loan modification, mortgage, mortgage help, student loans

Duration : 0:3:20

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Duration : 0:26:54

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Duration : 0:2:32

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Duration : 0:0:44

Technorati Tags: attorney, bankruptcy, Chapter 11, chapter 12, chapter 13, chapter 7, Chattanooga, Cleveland, credit card debt reducti, debt discharge, debt elimination, exempt property, lawyer, stop creditor harassment, Stop Foreclosure, Tennessee, TN, video

Duration : 0:0:38

Technorati Tags: attorney, bankruptcy, Chapter 11, chapter 12, chapter 13, chapter 7, Chattanooga, Cleveland, credit card debt reducti, debt discharge, debt elimination, exempt property, lawyer, stop creditor harassment, Stop Foreclosure, Tennessee, TN, video

Duration : 0:5:11

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