So just how long is a bankruptcy filing on your credit report? Pretty important question, I might add. Seven to ten years but there are extenuating circumstances in the length of time. Your bankruptcy lawyer will be able to explain these to you in detail.

It’s easy to look at the situations surrounding all of these couples and say that it was the debt that caused them to split. Was it the debt, though? Was it really? Most couples, especially when they make a pact to get married, promise to face everything as a couple, to take life head on and to support one another no matter what comes. ‘Till death do us part’ is a phrase that comes to mind. ‘In sickness and in health’ is another.

During this process, you will surely have questions about the assets you can keep. This will vary depending on the chapter you use, as well as which items you have. For example, the court typically allows you to keep a home and at least one car, in addition to some of your money. This is especially true if you are going to pay back your creditors at least some of what you owe. But if you have several houses, expensive cars, and other unnecessary items, you can expect to have to sell them so the trustee can give the profits to your creditors.

Once you have your list whittled down to at least three names, it is time to schedule your first initial consultation. Be certain before you book the appointment that your initial meeting is free of charge. If it is not, then move one to someone else. You are searching for someone who can help your with your financial issues and not a lawyer who puts you more in debt. You should find a legal counsel who is affordable for you and offers financing options.

A lawyers near me open saturday can clarify the new laws and restrictions that must be met. In addition, there are residency requirements and financial counseling as well as rules about cash loans and purchasing expensive items in the past 60 days. For the average consumer, this may be a bit overwhelming. This is why an attorney can be extremely helpful.

The only way to judge whether a Bankruptcy lawyer is good or not is to look at the cases that they have handled in the past. Find out what proportion of those cases have been successful. Also, having a high success rate is not a good enough determinant. You have to determine whether or not that lawyer has been successful with cases that are similar to yours. If you are filing as an individual there is no point hiring a business bankruptcy lawyer as the types of bankruptcy and the procedures are not the same. Similarly, it is not advisable to hire a divorce lawyer to help you with your bankruptcy case.

The remaining question is; what assets offset the liabilities in the Treasury’s balance sheet today? Before WWI it was Gold… but not today. Are these assets something else of real value, present goods like Gold is…? No, the assets of the Treasury today are the «Full Faith and Credit» of the US Government. In our topsy-turvy world, Faith and Credit are called assets!

You are not alone… in fact it is a very crowded place. This scenario is faced by thousands or millions of us each day. There are a lot of us swimming around in that pool of debt and it grows larger each day. In fact, the total U.S. credit card debt is $793.1 billion… yes, you read that right, BILLION. So, that’s a big swimming pool we’re swimming around in with lots of others in there with us!