Bankruptcy is Your First Step to Financial Security
With the current economy the way that it is you may find yourself in a position where you are behind on your payments or maybe you are simply unable to pay your debts due to any number of circumstances beyond your control. Any number of things, such as loss of a job, illness, or even a payment change on an adjustable rate mortgage can cause you to fall behind on your payments. The farther behind in payments you get the more insurmountable the debt becomes. You may be considering whether filing bankruptcy is in your best interest. Kershisnik Law has Bankruptcy Lawyers who can help you decide the best course of action for you. Whether you are seeking Chapter 7 or Chapter 13 Bankruptcy,a mortgage loan modification or a short sale, Kershisnik Law has the Idaho Bankruptcy Attorneys for you.
Bankruptcy used to be looked down upon harshly and while bankruptcy should be your last resort, today many people find they have no choice. You need an experienced Boise Bankruptcy Lawyer to help you today.
Filing bankruptcy is a tough decision with very serious consequences. However, if you're in a difficult financial situation that just keeps getting worse, filing Chapter 7 Bankruptcy or Chapter 13 Bankruptcy may be the opportunity you need to begin a new financial life. Bankruptcy laws help good people through tough times. Call now, at let us help you.
What Can We Do For You? Automatic Stay - Your First Step to Relief
When an Idaho Bankruptcy Lawyer files a bankruptcy petition for you, an automatic stay immediately goes into effect. The automatic stay is a fundamental protection that you will receive by filing bankruptcy. It gives you a breathing spell from your creditors, stopping all collection efforts, all harassment, and all foreclosure actions. It permits the debtor to attempt a repayment or reorganization plan, or simply to be relieved of the financial pressures that drove him or her into bankruptcy. An experienced bankruptcy law firm like Kershisnik Law gets this step taken care of quickly so you get the immediate relief you need. At Kershisnik Law our Idaho Bankruptcy Attorneys will help you stop the harassment and the stress of financial instability.
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is known as liquidation bankruptcy because your property is sold to pay your secured debts. A secured debt is a piece of property that you have a security interest in. A car with a loan on it, for example is a secured debt. The money received through the liquidation sale will go to pay those secured debts.
You will have certain property that is exempt from sale such as a portion of the equity in your primary residence, tools, work equipment, a vehicle under a certain market value, certain items of peronsal property and other miscellaneous property. Your unsecured debts such as credit card debt, medical bills and most personal loans will be eliminated. Kershisnik Law has experienced Boise Bankruptcy Lawyers who will make certain that you get relief from those debts. There are unsecured certain debts, however, that you can't get rid of such as child support and tax obligations and most generally, student loans.
Child Support, Tax Obligations and Student Loans
Because of their nature, certain debts cannot be eliminated or are difficult to eliminate. Child Support, because a child has a right to support by both parents, cannot be discharged. Likewise, because a tax debt goes to the government, you will be unable to discharge any tax obligations you have. Student Loans are a less clear cut area. In general, student loans are not dischargeable in bankruptcy. However, if you can show that continued payment of your student loans causes undue hardship, it is possible to get those debts discharged. Discharging your student loans requires that additional paperwork is filed. It also requires an additional hearing. If you are considering filing for undue hardship there is a "test" or "set of criteria" that you must meet. Our bankruptcy lawyers would be happy to discuss this option with you.
When the bankruptcy is filed, an automatic stay goes into effect prohibiting creditors from taking any action against you unless they get relief from the stay. To qualify for Chapter 7 Bankruptcy you must first determine if you meet the income requirement. If your income is below the average state income then you automatically qualify. If your income is above the state average, you must take a "means" test to see if you qualify for Chapter 7 Bankruptcy protection.
What's the Cost of Bankruptcy?
When considering the relief that you are afforded the cost of a Chapter 7 Bankrutpcy doesn't seem too bad. Kershisnik Law is a bankruptcy law firm that can offer reasonable prices for those seeking an experienced bankruptcy attoney. Many attorneys will offer a cut rate price for a bankruptcy. While this may seem appealing particularly because you are having financial difficulty, you also need to consider exactly what you will get for the bottom of the barrel price. Paying very little for a bankruptcy may get the debt excused but that lawyer won't have done their job. There is more to bankruptcy than a cheap price. You need to be fully informed so that debt isn't excluded or improrperly listed, resulting in penalties, and you need an attorney who will inform you of the consequenses of your various decisions. Paying cheap prices for bankruptcy is like running cattle to slaughter. Make certain you don't get slaughtered - Call Kershisnik Law today, (208) 472-2383 to speak to an affordable and experienced Idaho Bankruptcy Attorney. Take you first step to financial freedom Now!
Chapter 13 - Bankruptcy With Regular Income
If you have financial problems as a result of unforeseen expenses or a period of unemployment or other crisis but now have a regular income and are in a position to make regular monthly payments, filing bankruptcy under a Chapter 13 plan may be the solution. You can stop foreclosure or avoid repossession by filina a Chapter 13 Bankruptcy to catch up past due payments (over a period of three to five years) while keeping current payments up to date.
When a Boise Bankruptcy Lawyer files the Chapter 13 Bankruptcy petition, an automatic stay goes into effect prohibiting creditors from taking any further action against you while the bankruptcy case is pending. A repayment plan must be submitted to and approved by the trustee. The repayment period is generally between a 3-5 year period.
During that time, you will be required to keep current payments current, and make monthly payments toward past due balances. Debts are prioritized, and generally secured creditors get paid first, with any remaining disposable income going to pay unsecured creditors. If all payments are made under the plan, your unsecured debt (provided it is dischargeable) remaining at the end of the plan may be discharged.
Chapter 13 generally does not provid any discharge from debt obligation rather it helps you get caught up and pay your debts back.
Kershisnik Law has Idaho Bankruptcy attorneys who look out for you. If you initially file Chapter 7 Bankruptcy but you fail to meet the means test, the bankruptcy law firm will make certain that you are quickly given the option to amend your bankruptcy to Chapter 13. Our attorneys will do what's best for you.
Mortgage Loan Modification
If you purchased your house when there was preditory lending occuring or you got a great deal by getting a low interest rate with an ARM resulting in a high interest rate, you may be facing house payments out of this world. You may not be in a situation where bankruptcy is even a consideration. That's where a mortgage loan modification can come into play for you. A mortgage loan modification is an agreement between you and your lender to modify the terms of your mortgage to make your payments more affordable. But while it’s certainly promising, a long-term loan modification can be hard to negotiate. That’s where we can help. A mortgage loan modification can stop foreclosure and help you keep your home. If you qualify you can stop foreclosure and get on with your life.
Unfortunately, the process of negotiating with lenders can be confusing and time-consuming, and ultimately frustrating for most people. That's where our Boise Bankruptcy Lawyers, can help you. Our expereinced Idaho bankruptcy attorneys know how to negotiate and he can stop foreclosure on your home. You can trust the Bankruptcy Law Firm of Kershisnik Law to put our knowledge and experience to work to get the best possible mortgage loan modification for you. Our lawyers will make certain of it.
You may think you could save money by representing yourself, but we believe you would be better off to invest in professional representation. That way you will know you have done everything possible to modify your mortgage and hopefully avoid foreclosure or bankruptcy. Get the attorneys who know what to do for you.
Stop Foreclosure - The Worst Thing You Can Do Is Ignore The Notice
Take Action Immediately
If you are behind in your mortgage and have received a notice of default, you need to take action. You need to stop foreclosure immediately.
Kershisnik Law knows how to stop foreclosure before it stops you. You need the expertise of an Idahobankruptcy attorney and a bankruptcy law firm behind you. You need to know if a short sale will work for you. You need to know what pieces of information can help stop foreclosure or help get a short sale.
Credit Card Debt:
Credit card debt is part of the economic troubles in the United States today. Many credit card companies have acted unscrupulously and have had poor business practices. Even if you have incurred credit card debt you can challenge that debt and, in some cases, be completely relieved of all your credit card debt. If you have sky rocketing credit card debt, call today for your free intial consulatation to see what Kershisnik Law can do for you.
Often if you have defaulted on a credit card payment, instead of sending you to a collection agency, the credit card company will sell your credit card debt for pennies on the dollar. They report you to the credit reporting agencies, but they no longer attempt to collect the debt. Once the debt has been sold, the new debt holder may attempt to collect the debt against you and they may keep tacking on excessive late fees and penalties. With the economic crisis many new companies are springing up, buying this bad debt and trying to collect on it. All debt collection must follow the Fair Debt Collection Practices Act. Any debt collector who tries to collect a debt in violation of this act can be sued.
Whether you are seeking Chapter 7 Bankruptcy, Chapter 13, a mortgage loan modification, a short sale or you have skyrocketing credit card debt, you have come to the right place. Call today. Get the relief you need.
Call Today - 208-472-2383 - You Will Be Glad You Did
Let us Help You erase your debt and find financial freedom today!