Category Archives: Bankruptcy

Paul Chehade – Need Help With Debt Consolidation

Paul Chehade – Need Help With Debt Consolidation?

Do you want to take measures to reduce your debt? Are you at wits end from the pile of bills on your desk? If this sounds like you, there is help. Continue treading to learn more about how debt consolidation may work for your situation.

Prior to taking action, do a thorough review of your own credit record. You need to know what got you in your situation. This can help you to avoid making yourself go further into debt once debt consolidation has helped you.

Think about long-term ramifications when you choose a company for debt consolidation. You want to fix your current issues, but you need to know whether a company can work with you as time goes on, as well. Some offer services and classes to help you avoid needing such a loan again.

Are you the owner of a life insurance policy? You may wish to cash it in to pay off the debt. Talk to your insurance agent for more information. Sometimes you’re able to borrow some of what you’ve paid in.

At times, filing for bankruptcy is necessary. However, filing for bankruptcy will ruin your credit score. But, if you simply cannot repay your debts, your credit is probably already damaged. You can get your financial house in order by clearing the decks and starting fresh with a bankruptcy.

An offer for a new credit card that features a low interest rate can be a powerful asset in a plan to consolidate your debts. The interest rates they offer tend to go up once the initial period of low interest ends. You will have to pay the card off quickly before the interest rate goes up.

See a company comes up with the interest rate for your debt consolidation. Fixed interest rates are ideal. That means you will understand how much you will pay in total. Watch out for any debt consolidation program with adjustable rates. If the rates go up enough over the loan period, you may actually end up paying more than the original debt.

How have you accumulated your debt? You must decide this prior to assuming any consolidation loans. Even if you do get a debt consolidation loan, you may still find yourself in debt if you don’t fix the original problem. Therefore, discover the cause(s) of why you are in debt, resolve it, and then pay off your outstanding debts.

Have you considered debt management? If you pay your debts by managing your situation, you’ll be paying less in shorter period of time. There are many companies who will help you negotiate lower interest rates.

When you consolidate debt, your goal is to have a single payment that you can afford to pay every month. Typically, you should have a plan where your debts will be eliminated after 5 years. Some individuals chose shorter or longer plans for getting out of debt. You’ll have an end date for getting out of debt, so you’ll be able to stick with your goal more easily.

If you are looking for a debt consolidation company in Florida or Maryland, realize that they do not need to be licensed. If you live in one of these states, you might want to use a firm from another state which does require licensing. You have no legal protection if you choose a local firm.

There are many people who don’t have a proper understanding on how debt consolidation works and what it can do for you. It can be tough to go through, but easier than having the heavy burden of debt. Take the information in this article and use it to get back on the path of financial stability.

Paul Chehade

Solidary Foundation

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Ways Chapter 7 Bankruptcy Offers Financial Freedom

Bankruptcy is something that is often extremely misunderstood. However, when you are going through a rough financial situation, such as wage garnishment, foreclosure, or divorce, then bankruptcy may be the smartest way back to the path of financial freedom. Here are the top 5 ways in which filing for Chapter 7 bankruptcy in Tacoma offers you that financial freedom.

Freedom from Credit Card Debt

Chapter 7 bankruptcy will wipe out your unsecured debt, which includes your credit card debt. When you have credit card debt, it is often difficult to know whether bankruptcy is the best decision or if it is feasible for you to pay off your debt yourself. As a rule of thumb, if you do not see yourself being able to pay off your credit card debt completely within the next 5 years, debt may be a good choice.

Freedom from Divorce Stress

Statistics suggest that between 1990 and 2008, 90% of all bankruptcy filers who had experienced divorce had also experienced job loss or incurred significant medical expenses during their divorce. It is easy to see therefore why divorce is such a common trigger for bankruptcy. The financial hardship that most people experience as a result of divorce only adds to the emotional trial of divorce. Bankruptcy is a good way to eliminate one stressor and lighten the load of stress that you are carrying.

Freedom from Foreclosure

Both Chapter 7 and Chapter 13 bankruptcy will stay a foreclosure from happening. Under Chapter 13 bankruptcy, the late payments or arrearages that you owe on your house will be put back into a reorganized bankruptcy payment for you to pay back over time. Under Chapter 7 bankruptcy, the bankruptcy will prohibit any collection efforts from occurring for 30 days, but during this time, you will need to make up the payments or sell the house, usually through a short sale.

If you are able to catch up the payments on your house and then make them in full every month going forward, Chapter 7 bankruptcy is an effective way to buy yourself some more time after you receive a foreclosure notice to make up the debt.

Freedom from Ignorance

As you go through the process of bankruptcy, you will be required to go through a credit counseling course that helps you identify where your money is going, what your current debts are, and provides counseling for avoiding similar mistakes in the future. Even if you do not go through the entire process of filing and eventually discharging a bankruptcy, you will have at least gained valuable education for how to approach your finances and debts in the future.

Freedom from Wage Garnishments

Wage garnishments can be very embarrassing and may even put your job in jeopardy. Because Chapter 7 bankruptcy filing automatically puts an end to all collection efforts, filing for bankruptcy can stop wage garnishments. If you owe a significant amount of debt or have an account in collections, the collection agency or the person or company you owe money to may send a notice that they are going to start garnishing your wages, which means that the Court grants the company permission to deduct money from your wages to pay your debt. As soon as you get this notice, you may want to consult with a bankruptcy attorney who can help you get your bankruptcy filed as soon as possible, hopefully in time to stop the wage garnishment.

Filing for a Chapter 7 bankruptcy in Tacoma can offer a fresh start and freedom from many things that would otherwise have a significant negative effect on your life. To experience true financial freedom, contact a bankruptcy lawyer to hear about some of your options.

Travis A. Gagnier, Attorney at Law committed to providing compassionate support to our clients going through financial difficulties for more than 21 years. Visit our page on to see our page today!

Get Necessary Details about Personal Bankruptcy and Important Steps to Get Over it


Bankruptcy is often termed as the worst phase of people’s life as it
makes them totally helpless. But, they can of course get over it by
taking proper action at the right time. Unfortunately, if you are also
facing this situation and seeking to fill it, you need to go through its
important meaning as well as its great implications.


Many people, however, consider this situation to be the end of the
world. But, the most important thing they need to know that it is not an
end in itself. It is said to be a merciful procedure that helps an
individual unravel him from different types of obligations. However,
getting proper advises and guideline before making a final decision is
certainly a wise decision. In order to get such advises and ideas, you
can approach a reputed professional firm.

When you opt for this
option, you have to allow the court of law to handle your finances and
court also appoints a person to estimate of your total debt and make an
effective debt management plan to repay the same. As soon as you
complete the filing and also court accepts the same, you will experience
that your all transactions get stopped and then the creditor will also
be notified that they require taking several attempts to recover the
money from the individuals.

After ending the particular period
of time that is mentioned in the insolvency proceedings, a notice
covering the announcement of releasing of debt is issued and also
debtors get order to cancel the collection of discharged debts. During
this period, the person is entitled to get only limited credit and legal
system will certainly not allow him for going credit purchase beyond a
particular limit. Such limits are also withdrawn, once the total
estimated debt gets paid.


Personal bankruptcy tends to affect each individual in different ways.
So, it is certainly a great idea of getting the insolvency information
tailored in accordance with the needs of an individual. Before
proceeding for application, one needs to gather some vital information
about bankruptcy. They can find legal method to repay their debt, so
they don’t need to worry for this.

This is certainly considered
to be a great option if you are a person without high profile
employment, extra income and also if you don’t have even a single
property. This is the main reason why it is necessary to get bankruptcy
advises, in order to find whether it is a great option as per your
position.

How do I repair my credit after bankruptcy

Bankruptcy can greatly impair your credit. However, it is not irreparable. You can take steps to recover it and achieve healthier credit scores. Start with the basics until you develop the habit of maintaining a good standing.

Here are some tips to get you back on your feet:

Ask for your credit reports and check for any inconsistency

It is bad enough that your bankruptcy will stay on your record for 10 years so you must take steps to make sure that your financial reports do not have any more bad news for your creditors. The report may contain inconsistencies and even false entries so asking for a copy and examining it yourself would help you verify its accuracy. Monitoring activities affecting your credit score would also increase your awareness on your spending and borrowing and spending habits. If you are aware of your financial activities, you may modify some practices to ensure that you only incur debts which you can afford to pay so you can avoid similar problems in the future.

Make diligent payments to your nine-bankruptcy accounts and current creditors

These payments can help repair your credit score and negate some of the bad items in your report. The same way, you should pay your current creditors of your debt on time so you can avoid adding more bad credits.

Decrease your credit card balances and be cautious in applying for a new line

A low balance on your MasterCard or Visa can improve your score. Being careful in applying for new credit will help regulate your incurrence of debt. If you regulate the amount of your debt it would be easier for you to pay them on time. Also, if you always apply for it and most of the time you are denied, it can look bad on your record and cause creditors to be wary of you.

Tips for Recovering from Bankruptcy

Filing for bankruptcy acts as a fresh start financially for many people. However, if you have filed for bankruptcy, you’re not completely free of your financial past; it will remain on your credit for several years, and you still have some recovering you will have to do before you can truly move on with your life. It’s not easy, but with some hard work and dedication, and a little help from the right bankruptcy attorney in Seattle, WA, you should be able to get back on the path to a secure financial future. Understand What Caused It 2>

For some people, unforeseen circumstances can lead them into bankruptcy at no fault of their own. This can include unexpected medical bills, the loss of a job, death of a spouse, or divorce. For other people, however, the bankruptcy is brought on by poor financial choices and living beyond their means.

It’s important that you take a step back and honestly assess what the cause of your bankruptcy was so that you can avoid repeating any mistakes that may have led you into the situation. If you have a bad habit of maxing out credit cards, perhaps you should avoid having a credit card in the future. If you have a gambling addiction, seek help for recovering from it.

If unpredictable circumstances caused you to fall into bankruptcy, simply do your best to put aside enough money to handle a similar situation if one should arise again in the future. Stay Current

No matter what type of bankruptcy you filed, you now have a chance to start over on payments for all of your debts. For a Chapter 13 bankruptcy, you will have new payments to make in order to help you catch up on all of your debts. For a Chapter 7 bankruptcy, you likely had some assets liquidated and are now starting from scratch.

Regardless of what situation you are now facing, it is important that you do everything you can to stay current on all of your payments. You can’t fall behind on your debts again, as you must wait several years between bankruptcy filings. If you fall behind, your creditors will come after you and any property you own in order to collect on what you owe. Do whatever you need to do to make sure that you are making at least the minimum payments on all of your debts every month. Live Simply

The world today is plagued by a bad case of “keeping up with the Joneses.” You may be tempted to go out and buy everything that your neighbors or friends have, just so you can appear to be as affluent as they are. However, this is a surefire way to fall back into debt. So simplify your life, and buy only what you need to live comfortably.

As difficult as it may be to resist that new television or that flashy car, you need to remember that you are taking steps towards a better future. While expensive items may help you to look better to your neighbors now, it is not worth sacrificing a secure financial future for you and your family in order to do so. Buy only what you need, pay off your debts as quickly as you can, and try to put a little aside every month in case of emergencies.

Recovering from a bankruptcy is no easy task, but it is doable. If you follow these steps and speak to a reliable bankruptcy attorney in Seattle, WA, then you should at last be able to get back on the path to financial security.