| Sacramento bankruptcy Attorneys (lanphierlaw.com) | 24-01-2012 |
Debts that can usually be discharged in bankruptcy
•Credit cards or unsecured loans.
•Car repossessions and deficiency balances.
•Some car accidents.
•Material supplier debts.
•Medical bills.
•Lawsuits and judgments.
•Evictions and unpaid rent.
•Unpaid utility bills.
•Foreclosure balances.
Credit card or unsecured loans: This is the most common type of debt eliminated in bankruptcy. Examples: department store cards, personal loans from a credit union, banks or other financial institutions, payday loans and gas cards.
Exception: Excessive credit card use in the months prior to filing your case may be problematic. The creditor may challenge your request to eliminate the entire balance, claiming you never intended to pay for those items. I have seen clients take expensive vacations or purchase high-priced merchandise prior to filing bankruptcy, only to pay for the excessive use or the expensive merchandise after the filing.
Car repossession: If you surrender the car or the lender repossesses the car, the lender sells the vehicle and bills you for the difference. The difference is called a deficiency balance. The deficiency balance may be eliminated in bankruptcy.
Vehicle accident: You may eliminate debts incurred as a result of a vehicle accident -- even if you hurt another person.
Exceptions: If you were under the influence of drugs or alcohol at the time of the accident or if you maliciously or willfully harmed another person with your vehicle, then you cannot eliminate these debts.
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| Sacramento bankruptcy Attorneys | 27-12-2011 |
Our Bankruptcy practice is one of the largest in the Sacramento area
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| Sacramento bankruptcy Attorneys (lanphierlaw.com) | 27-12-2011 |
| Bankruptcy is designed to eliminate debt and stop collections. Federal bankruptcy laws were enacted by Congress to give consumers and business owners a fresh start when burdened by excess debt. Could filing bankruptcy be the right solution for you? |
| Sacramento bankruptcy Attorneys (lanphierlaw.com) | 27-12-2011 |
| When faced with such a serious financial problem that you have to file for bankruptcy, perhaps the smartest and safest thing to do would be to let the professionals guide you through the rough waters. But once you have taken the decision to consult a bankruptcy attorney, you might find yourself lost about where to find a qualified one. |
