Maintain your old Siemens Hipath system

New Bankruptcy Legislation May Make it Harder to Find an Attorney

The recently passed Bankruptcy Abuse prevention and Consumer Protection Act will make it harder for people with problem debt to have their debt eliminated through filing for bankruptcy. This new legislation will make it harder to have debts wiped out by the courts, and will require more debtors to pay back some or all of their debts. Considered by many to be a gift from Congress to the major credit card companies, this new law has many people rightly concerned about how to best deal with their debt problems. An additional concern that few have considered is that it not only will be more difficult to file for bankruptcy, it may also be difficult to find legal assistance once the new law takes effect in October, 2005.

Under current law, filing for Chapter 7 bankruptcy for consumer debt is a fairly routine procedure. A Chapter 7 filing allows most debts to be eliminated once the debtor demonstrates that they cannot pay their bills. While it is and should be considered a last resort for those in debt, a Chapter 7 filing allows those who emerge from bankruptcy to have a "fresh start." Legal costs vary for assisting with a Chapter 7 filing, but they typically involve only a few hours of billing time on the part of an attorney. Under the new legislation most filers will be forced to file for bankruptcy under the more complicated Chapter 13. A Chapter 13 filing, which requires the structuring of a repayment plan, is somewhat more complicated and generally costs two to three times as much in legal fees. Adding to the complication is the fact that the new legislation will hold the attorneys for those filing for bankruptcy liable for paperwork issues, leaving the attorneys vulnerable to lawsuits from both bankruptcy trustees and the customers on whose behalf they file.

What this means to the consumer is that good legal help will be expensive and hard to find once the new bankruptcy law takes effect. Attorneys who specialize in bankruptcy cases will undoubtedly raise their rates significantly in order to offset their greater risk. Attorneys who seldom work on bankruptcy cases may simply stop handling them, thinking that the additional risk of a lawsuit isn't worth their trouble. Anyone who is currently experiencing debt problems, which might require the help of a bankruptcy attorney, should probably meet with one now. It is better to find one now, even if you don't need one, than to need one later and realize that you cannot find one.

┬ęCopyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.

In The News:

'Terrorist' shot dead at Barcelona police station
Mon, 20 Aug 2018 11:49:00 +0100
A suspected terrorist has been shot dead after attempting to attack officers with a large knife at a police station in Barcelona.

Greece bailout ends - but belt-tightening not over
Mon, 20 Aug 2018 08:54:00 +0100
After almost a decade of tough austerity measures, Greece can financially "stand on its own feet" after receiving tens of billions of euros to help it fix its economy and banking sector.

Afghan forces free Taliban hostages in rescue raid
Mon, 20 Aug 2018 07:22:00 +0100
Afghan security forces have freed 149 people abducted by the Taliban hours earlier, but the insurgents still hold 21 hostages, officials have said.

Elderly South Koreans reunite with relatives in North
Mon, 20 Aug 2018 02:15:00 +0100
Dozens of elderly South Koreans have travelled to the border with the North to reunite with relatives they were separated from during the Korean War.

Weinstein accuser 'pays $380k to settle assault case'
Mon, 20 Aug 2018 06:28:00 +0100
Asia Argento, one of the most prominent activists of the #MeToo movement, has settled a complaint by a young actor who accused her of sexually assaulting him when he was 17, it has been reported.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Bankruptcy ? Bankruptcy Myths

Bankruptcy has long been a big question mark in the... Read More

Eliminate Your Credit Card Debt, But How?

Can a debt consolidation loan eliminate your credit card debt?... Read More

Bankruptcy Abuse

Bankruptcy is little more than a smack on the hand... Read More

What Does A Bankruptcy Trustee Do?

Once you file bankruptcy a court appointed bankruptcy trustee will... Read More

Debt Collectors: Men or Mice?

Who are these people anyway? They viciously harass you and... Read More

Selecting A Credit Counselor; Asking The Right Questions.

When you find yourself thinking about using a credit counseling... Read More

Debt Reduction, a Necessary Endeavour

Massive debt is something many Americans face. Debt reduction is... Read More

You Can Make Financial Resolutions Anytime

The New Year often brings with it a desire to... Read More

How to Deal with Bill Collectors

So you've screwed up. You're drowning in debt. Maybe the... Read More

Utah, the Nation?s Bankruptcy Capital

Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection... Read More

Personal Bankruptcy ? If Its Unavoidable, File Now

The Bankruptcy Abuse and Consumer Protection Act, signed into law... Read More

Is Independence Overrated?

Happy Independence Day from The Money Motivator!If you don't celebrate... Read More

Credit Repair - Understanding The Basics

What is Credit?Credit means that you are using someone else's... Read More

Debt Consolidation Versus Debt Negotiation

Debt consolidation versus debt negotiation are two options that are... Read More

Debt Relief with this Simple Formula

Is there a way to get out of debt without... Read More

Learn How to Get out of Debt

Debt is becoming number one problem in the United States... Read More

The ONE Law You Should Be Breaking

There is a law all smart people break.Parkinson's law.Parkinson's law... Read More

Debt Problems? You Can Negotiate With Your Creditors

It is always possible to negotiate with creditors ? even... Read More

What You Should Know About Bankruptcy

Filing bankruptcy is not only a last resort legal action;... Read More

Why You Should Get Out of Debt Today?

The main reason for getting out of debt today, is... Read More

How To Pay Credit Card Debt Off

If you are determined to pay credit card debt off... Read More

How Do I Lower My Debt Burdens?

How do I lower my debts?There are several ways of... Read More

Stop Debt Collectors

Can you stop debt collectors ? . . .You better... Read More

How To Avoid Medical Collections

With medical collections costing doctors millions upon millions of dollars... Read More

The Last Debt Solution Should Be Bankruptcy

A debt solution like bankruptcy should really only be used... Read More