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Monthly Archives: December 2011

Retirement Assets and Bankruptcy

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How does bankruptcy affect your retirement assets? There are many people in difficult financial situations who look to their retirement assets as a resource to pay their debts. It is helpful to know that, in a bankruptcy, there are exemptions that protect your retirement assets, meaning that, when you file for bankruptcy, your retirement assets Continue Reading

Bankruptcy is a Business Decision

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A business is considered insolvent if it does not have enough income to pay all of its financial commitments. In this situation, the law provides a business an instrument to reorgnanize its debt and continue to operate after the debt is reorganized. When Donald Trump’s companies failed, he took things into his own hands and Continue Reading

Bankruptcy for Credit Card Debt

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Credit card debt can be detrimental to improving your financial future. If you have an overwhelming amount of credit card debt, bankruptcy may be the best way for you to completely wipe out your credit card debt and start the new year with a clean slate. Whether you have $5000 of debt or $100,000 of Continue Reading

Debt Consolidation vs. Bankruptcy

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Many clients come to us after going through difficult experiences with debt consolidation companies. We’ve heard about a wide range of experiences from clients regarding debt consolidation companies. Most people will pay service fees anywhere from several hundred to a thousand dollars a month to “potentially” consolidate debt. The debts that they are unable to Continue Reading

When is the right time to file for Bankruptcy?

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There is never a great time to file for bankruptcy, but if you are considering bankruptcy, it is time for you to consult an attorney and learn about your rights under bankruptcy protection. If you’ve ever asked yourself if bankruptcy might be the right solution for you, you would most likely benefit from a bankruptcy Continue Reading

Free Bankruptcy Consultations with Bankruptcy Law Professionals

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Free bankruptcy consultations are a long standing standard at Bankruptcy Law Professionals. All clients have specific and intricate details about their financial situation. During a free consultation with Bankruptcy Law Pros, you will meet in-person with our attorney and learn what you need to know about the bankruptcy process and how it will impact your Continue Reading

Do You Need to Pay Income Tax on Debts Discharged in Bankruptcy?

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Clients have asked us about the affects of discharging debts on income tax. This is a great question to ask because in some similar situations, when debt is forgiven, it can be seen as a type of income which can become taxable. In some real estate situations, if a bank discharges your debt on a Continue Reading

Chapter 7 Bankruptcy Protection Can Postpone Foreclosure

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This week, we have already helped several clients postpone their foreclosure proceedings with Chapter 7 bankruptcy protection. Bankruptcy protection is a proven solution to postpone foreclosures. If you have an upcoming sale date, a Chapter 7 may be the best solution to postpone the trustee sale to a later date. When you are not ready Continue Reading

We Are a Bankruptcy Law Firm, Not a Legal Referral Service!

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Bankruptcy Law Professionals is a Bankruptcy Law Firm! Many ads that you see on the internet these days are legal referral services or websites that refer leads to attorneys. Beware of this type of service. The referral service may only be providing your information to other attorneys which are not a part of their company. Continue Reading

Advice For Material Possessions From Deepak Chopra

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“Holding on to anything is like holding on to your breath. You will suffocate. The only way to get anything in the physical universe is by letting go of it. Let go & it will be yours forever” By Deepak Chopra Well said Mr. Chopra! How can this be applied to difficult financial situations? Ask Continue Reading