Is it possible to file for bankruptcy and it not work?
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Natalie
We're starting the bankruptcy process, but we are really scared that something might go wrong, can anyone share they're experiences?
Answer
FIRST, don't panic. I'm an attorney and due to identity fraud, MAJOR MEDICAL bills that were not covered by insurance and internal embezzlement from an insider in my company, I had to file bankruptcy. In my case, the case was so expertly handled I couldn't even believe it. First, you feel guilty, because creditors that are owed money are not being paid - not my way of doing business. BUT, then you have to get real serious and review exactly WHY WE HAVE the option of bankruptcy. IT WAS NEVER INTENDED for people who make tons of money, blow it on boats, expensive luxuries, etc., - it was put in the tax code to give people a second chance when life has dealt them issues that they could not have avoided. (the majority of filers have MASSIVE UNINSURED MEDICAL BILLS).
My story was so extreme, that by the end of the hearing (which lasted 11 minutes, the judge was in tears due to the absolutely terrible things that had occurred in my life which were absolutely NOTHING I could have prevented). My case was extreme, for sure, but the judges or their representatives are not MEAN, VINDICTIVE people. They truly empathize with the individual (or couple).
NOW, when I filed for bankruptcy, we were under the "Old" bankruptcy rules. THINGS HAVE CHANGED and just like the man who answered this question first, it is based a lot more on helping to pay back the debt.
(I have to sleep at night and I have no relatives, so I've merely named the 4 creditors as beneficiaries in my life insurance policy - so at least after death, they will have some justice) That's probably a bit nuts, but I can feel better about the whole thing.
Within 3 weeks of the final judgment, I was already getting credit card offers - at least 7 a week; offers to buy new cars, etc. Now, of course, I didn't participate in any of this - I had never used credit cards anyway - but many people do and eventually you do have to re-build your credit.
My girlfriend, Deborah Booher [Akron Ohio] is probably one of the best known bankruptcy lawyers in the country. She has put together a magnificant website (listed below). I highly encourage you to read it. BANKRUPTCY law is FEDERAL - not state-specific, so what is in her site should be accurate nationally.
PLEASE don't feel guilty, or panic - I did it and all I got was an ulcer. (oops, more medical bills!). Just bite the bullet, speak with at least 2 attorneys WHO SPECIALIZE IN bankruptcy law and see if they think you are a good candidate. Select the attorney with whom you feel most comfortable. COMPARE LEGAL FEES AND WHEN THEY ARE DUE!! Some won't file a case until they have received their fee; others will file with $79 downpayment on their fee.
ON THE OTHER HAND - no one out there should misuse the bankruptcy code as an excuse for mishandling money, getting involved in get-rich schemes that go awry, invest tons of money in cocaine, purchasing massive luxury items which are far above their income level - that's not the intent of the law. [and an ethical lawyer - yes some of us are out there!- won't even take your case.]
If you want to communicate with me personally re: the type of debt you've incurred, please e-mail me at: artisticattorney@yahoo.com - I CAN RELATE TO YOU!!
Barb from Cleveland - Home of the Rock'n Roll Museum!!
Best wishes - you WILL make it through - remember there is no poorhouse any more - unless you've committed some sort of felony -NO ONE WILL WIND UP IN PRISON!
FIRST, don't panic. I'm an attorney and due to identity fraud, MAJOR MEDICAL bills that were not covered by insurance and internal embezzlement from an insider in my company, I had to file bankruptcy. In my case, the case was so expertly handled I couldn't even believe it. First, you feel guilty, because creditors that are owed money are not being paid - not my way of doing business. BUT, then you have to get real serious and review exactly WHY WE HAVE the option of bankruptcy. IT WAS NEVER INTENDED for people who make tons of money, blow it on boats, expensive luxuries, etc., - it was put in the tax code to give people a second chance when life has dealt them issues that they could not have avoided. (the majority of filers have MASSIVE UNINSURED MEDICAL BILLS).
My story was so extreme, that by the end of the hearing (which lasted 11 minutes, the judge was in tears due to the absolutely terrible things that had occurred in my life which were absolutely NOTHING I could have prevented). My case was extreme, for sure, but the judges or their representatives are not MEAN, VINDICTIVE people. They truly empathize with the individual (or couple).
NOW, when I filed for bankruptcy, we were under the "Old" bankruptcy rules. THINGS HAVE CHANGED and just like the man who answered this question first, it is based a lot more on helping to pay back the debt.
(I have to sleep at night and I have no relatives, so I've merely named the 4 creditors as beneficiaries in my life insurance policy - so at least after death, they will have some justice) That's probably a bit nuts, but I can feel better about the whole thing.
Within 3 weeks of the final judgment, I was already getting credit card offers - at least 7 a week; offers to buy new cars, etc. Now, of course, I didn't participate in any of this - I had never used credit cards anyway - but many people do and eventually you do have to re-build your credit.
My girlfriend, Deborah Booher [Akron Ohio] is probably one of the best known bankruptcy lawyers in the country. She has put together a magnificant website (listed below). I highly encourage you to read it. BANKRUPTCY law is FEDERAL - not state-specific, so what is in her site should be accurate nationally.
PLEASE don't feel guilty, or panic - I did it and all I got was an ulcer. (oops, more medical bills!). Just bite the bullet, speak with at least 2 attorneys WHO SPECIALIZE IN bankruptcy law and see if they think you are a good candidate. Select the attorney with whom you feel most comfortable. COMPARE LEGAL FEES AND WHEN THEY ARE DUE!! Some won't file a case until they have received their fee; others will file with $79 downpayment on their fee.
ON THE OTHER HAND - no one out there should misuse the bankruptcy code as an excuse for mishandling money, getting involved in get-rich schemes that go awry, invest tons of money in cocaine, purchasing massive luxury items which are far above their income level - that's not the intent of the law. [and an ethical lawyer - yes some of us are out there!- won't even take your case.]
If you want to communicate with me personally re: the type of debt you've incurred, please e-mail me at: artisticattorney@yahoo.com - I CAN RELATE TO YOU!!
Barb from Cleveland - Home of the Rock'n Roll Museum!!
Best wishes - you WILL make it through - remember there is no poorhouse any more - unless you've committed some sort of felony -NO ONE WILL WIND UP IN PRISON!
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Answer
And you think coming to Yahoo Answer is gonna be helpful
BTW i m an Indian guy and your attitude is really pathetic..
you sound like a typical Indian girl who wants everything the easy way!!!
You want Rich & Good both!! Come down to earth.. These combinations do not exist!! together..
Rich men are generally promiscuous who will cheat on you cause they know what they are worth!!
In your case you deserve it!!
And you think coming to Yahoo Answer is gonna be helpful
BTW i m an Indian guy and your attitude is really pathetic..
you sound like a typical Indian girl who wants everything the easy way!!!
You want Rich & Good both!! Come down to earth.. These combinations do not exist!! together..
Rich men are generally promiscuous who will cheat on you cause they know what they are worth!!
In your case you deserve it!!
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