Save Your Business And Your Livelihood Through Tucson Premier Bankruptcy Attorneys

Life is unpredictable. Bad luck, ups and downs of business and personal crises affect a lot of decisions in the smooth and peaceful progress of life. There is no one who wishes to be beholden to the constant stress of credits and debts. But sometimes, it is wise to move away from the “ugly situations” in order to avoid further adverse conditions. Entering into bankruptcy in order to save your business and assets is a far better option when you are facing extreme losses, rather than becoming penniless and potentially homeless. Filing bankruptcy is one of the most difficult legal processes – a client might only waste time and money without any result if they chose to take it upon themselves to file without assistance. So, to take on this heavy responsibility and burdensome research away from a person, there are legal firms who offer their valuable services to protect properties, assets, and people life’s accomplishments from being taken away from them and eliminating harassment by creditors.

Tucson foreclosure attorney organizations are experts in this kind of legal endeavor. They are reliable, experienced, and the most importantly, charge reasonably for the significant effort involved. They are unlike other lawyers who are ready to extract maximum fees from a client, even in adverse conditions. These reliable lawyers are akin to a “knight in shining armor”, who defends you from the non-stop harassment and embarrassment of creditors foreclosing or levying liens. They handle many different cases, but every individual client receives the best solution to protect their valuables, properties, and/or business so that one can start a new, dignified, life. All cases are not the same, so it’s always a prudent decision to hire only the professional and versatile attorneys of these law firms of Tucson. The business owners and residents of the Tucson area who are facing foreclosure, harassment, and who are on the verge of losing all the belongings can consult the experts, and enjoy their attorney’s protective services at the most reasonable fees during your difficult time.

Tucson consumer bankruptcy lawyer is all well-experienced in these kinds of cases, and they know how to ensure the whole bankruptcy procedure goes smoothly and happens in a timely manner. Time management is a very essential part of attending to client’s dire needs, so their main goal is to satisfy their customers with on-time completion of the legal procedures, and hence, customers can enjoy a tension-free life. Tucson personal bankruptcy information given by these attorneys is authentic and truthful, eliminating the chance of misinformation. They can guide you in the recovery from possible personal loses and commercial loses. The professionals provide free consultation to help the clients understand their rights, and determine the best options for their situation, so that the clients can cope with the upcoming difficult situations more easily. They represent clients throughout Tucson and Southern Arizona area, including Pima, Pinal, Santa Cruz, Cochise, Graham, and Greenlee counties. The residents of these areas, who are in financial trouble and are in need of assistance, can enjoy the trustworthy and expedient services of experienced attorneys at the most reasonable fees.

Don't Fear Bankruptcy When Buried in Credit Card Debt

A Typical Credit Card Debt Scenario

“I feel like I am paying too much towards my credit cards. A few months back I moved from my apartment into a new place. During the move, I was very disorganized and misplaced my bills. I didn’t think it was going to be the end of the world missing one month’s payment on my credit cards and thought I would just make it up the next month. I was shocked when I received my next month’s bills – all 4 of my credit cards raised their interest rate on me to 29.9%! I only missed one month! I called all of them was told there was nothing I could do. I owe about $16,000 in credit card debt, and this new interest rate is killing me. To keep up with my payments on my credit cards, I had to miss a couple payments on my car. Now I am getting phone calls demanding payment. I am afraid I am falling down a hole that I may not be able to pull myself out of. A friend of mine mentioned to me the possibility of bankruptcy, but I do not want to damage my credit. What can I do, if anything, to get me out of this mess?”

Bankruptcy: Nothing to Fear

Many people fear the thought of bankruptcy not only because of the social stigma but the presumption their credit will be destroyed. If you have fallen behind in your credit card payments, missed your car payments, and/or stopped paying your rent or mortgage, your credit is already damaged! Nobody wants to file bankruptcy, however, bankruptcy should not be looked at as a financial scheme that damages your credit, but as a process that reestablishes your credit and offers a lifeline to those that have fallen into debt quicksand.

Bankruptcy and “Unsecured Debt”

Bankruptcy creates a way to eliminate credit card debt. Most credit card balances are considered “unsecured debt”. That means that the credit card company has no hold on anything that belongs to you if you do not pay back your debt. “Unsecured debt” is specifically the kind of debt that bankruptcy is designed to remove. Apart from credit card debt, you may have other unsecured debts, and filing for bankruptcy can eradicate these as well. However, bankruptcy will not fully discharge your obligations to certain types of debts, including child support, alimony, tax debts, student loans, and any secured debts.

Bankruptcy can stop Creditor Harassment

If you are a victim of creditor harassment, immediately after filing for bankruptcy, the court system will send out notification to your creditors. And from this point on, creditors are considered to be under a “restraining order” and are not allowed to contact you to request payment. Depending on the type of bankruptcy, a 341 Meeting of Creditors will be scheduled and deadlines will be set for creditors to file a claim and attend the 341 Meeting of Creditors. Of course, all of the proceedings from here are dependent on the type of bankruptcy filed, so it is important to talk with a bankruptcy attorney who can more directly answer these questions.

When to Take the Gloves Off?

If you feel you are only barely able to scrape up the money to make your monthly payments, or feel you are drowning each month in debt, it may be time to hang up the gloves and consider filing bankruptcy. The government gives us the opportunity to have a “fresh start.” The most important thing is not to panic, take a deep breath, and evaluate your financial situation with someone who can help.

Fixing Your Credit Report After Bankruptcy

So you’ve finally finished discharging your debts and you’re ready to relax and be done with it, right? Wrong. About a month after things have completed it’s time to start fixing your credit report after bankruptcy.

The sad truth is that most of the time you’re going to find numerous errors on your report once you’ve discharged debts. Companies are not going to be motivated to update things saying that things have been “included in bankruptcy” and that you have a zero balance. Instead, they’ll leave the debts on there marked as open or overdue with amounts you owe on them. You want to call and have this taken care of.

It’s very common for people to be intimidated by the companies and overwhelmed after everything they’ve been through and not bother with calling to fix their credit report after bankruptcy. This is a big mistake.

After you’ve discharged all of your debt your rating may actually go up, and you’ll be on your way to rebuilding your finances for the future. However, if you still have those debts on there, this can’t happen. A major factor in calculating your score is the amount of debt you have versus the amount of credit available to you.

It may take a few calls to get this corrected, but it will be worth it in the long run.

Once you’ve gotten this taken care of, you can start working on rebuilding things. You can work on making your payments on time every month, possibly get a secured credit card from your bank and use it very lightly, paying it in full each month. It’s important to take things slowly and carefully to avoid future problems, but it’s also important to make sure you do things to build up a positive history. Be careful, but don’t give up altogether.

It takes persistence, but fixing your credit report after bankruptcy is very worth it, and an important step towards your financial future.

Rebuilding Your Life After Bankruptcy

Once you’ve finally finished filing all the paperwork to get your debts discharged, after focusing on it for so long, it can be startling to realize you don’t really know what to do next. Rebuilding your life after bankruptcy can seem intimidating, but once you know where to start you’ll find your direction quickly enough.

About a month after everything has been finalized you want to get a copy of your credit report and make sure that everything that is supposed to be marked “included in bankruptcy” is. If not, call the companies and keep calling until they have it changed. You’ve come this far, go the last mile and get that debt taken care of.

After this has been done your credit of course won’t be great, but you do have a clean slate. The problem is that financial companies won’t know if they can trust you or not because they don’t know if you’re going to get into more debt, or if you’re really stable now. Your goal is to build up a new history after bankruptcy that will show them that you can handle making payments, which will build up your credit score as well. In as little as two years you can have decent, and possibly even good, credit. You do this by building a history of on time payments on the two types of payments that make up your financial history, revolving payments (credit cards) and installment payments (loans).

Of course, most companies won’t go ahead and give you these opportunities the way they did before you had financial problems, but you do have options. Shortly after you’ve finished discharging your debt go to your bank and get a secured credit card. Basically, you deposit a few hundred dollars into a savings account, which is used as collateral on the card and sets your new card limit. Use this card each month, but use it lightly (staying under thirty percent of the limit) and pay it off in full in each month.

About six months to a year later use your vehicle, a CD at your bank, or something else of value as collateral for a small loan.

The most important part of all these plans is to make sure that you don’t get in over your head and make all of your payments on time each month. Keeping a good budget plan is key to rebuilding your life after bankruptcy.