Only a few years ago, Congress made multiple huge changes to the bankruptcy laws which impacted how bankruptcy would be filed, and even who is eligible. For example, no longer can you file bankruptcy just because you are tired of paying your bills, but with the new laws, there is a defined set of procedures that must be followed for each chapter being filed, and your financial status will be evaluated under a microscope, where you must be approved before you can even file.

But one of the areas that was left pretty much untouched by the wide range of changes was Chapter 13 Bankruptcy. This chapter was originally constructed to prevent a home from being put on the foreclosure block. But with the massive number of foreclosures that are happening in the US today, it is unfortunate that many people still do not know that Chapter 13 Bankruptcy filing can still be used to prevent foreclosure on their home.

For the average consumer, there are three different types or chapters of bankruptcy that may be available to them, depending on their specific circumstances. The first one is Chapter 7 Bankruptcy, which is the most common type and is also sometimes referred to as a liquidation. Obviously the reason it is known as liquidation is because most of their debt is discharged by allowing the court-appointed trustee to liquidate all of their non-exempt assets. Even with this chapter, however, be aware that there are certain types of debts that cannot be discharged by going bankrupt.

Although it used more appropriate to be used by either businesses or people with substantial assets and income, another type of bankruptcy available to the consumer is Chapter 11, frequently also known as a business reorganization. This type does not wipe out debts, but rather it allows the person or business to reorganize its debt structure and make revised payments to the creditors, sometimes over a longer period of time, and sometimes also with a reduced interest rate. Creditors usually are willing to do this, since collecting their money over time and with interest is certainly better in their eyes than to have the debt wiped out completely via a different chapter.

The last type or chapter of bankruptcy available to the consumer is Chapter 13, frequently also known as the Wage Earner’s Reorganization. This type is the least expensive to file and is typically used by consumers who still maintain their ability to make their payment obligations, usually within three to five years. The total value of their assets which are classified as non-exempt is used as a basis and guideline for the amount that needs to be repaid over this period of time, as well as considering their level of income and any debts which cannot be discharged.

But what many consumers do not realize is that Chapter 13 Bankruptcy also allows property owners to stop foreclosure proceedings if they are behind on their mortgage payments. While the same can be said for the other chapters of consumer bankruptcy, Chapter 13 is particularly designed to permit the consumer to pay the delinquency in equal monthly payments for as long a period of time as 60 months (5 years). The mortgage lender has no choice but to agree to this, as long as all the other requirements and qualifications of this chapter are met.

The procedure to be qualified to file this chapter is more stringent than the others, since it involves a thorough examination of total debt and total income. No chapter of bankruptcy is any longer consider to be a “do-it-yourself” process with all the new legal requirements in place, so regardless of what chapter you are thinking about, it is strongly recommended that you consult with a qualified bankruptcy lawyer and ensure that both you and your property, combined with your specific situation, actually do qualify.

The biggest benefit that you can have with Chapter 13 bankruptcy, if you qualify and if you are facing foreclosure proceedings, is that it buys you time. That time can be used to make your current financial situation better, or it can also be used to find the right buyer for your property. If you move forward with this, keep in mind that the time you are granted with this is finite, and you need to start planning and take action NOW.

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For more insights and additional information about Chapter 13 Bankruptcy as well as getting a free bankruptcy evaluation from a qualified bankruptcy lawyer local to you, please visit our web site at http://www.bankruptcy-data.com/review-of-chapter-13-bankruptcy.php

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If you have been keeping up on the latest news, it will come as no surprise to you that methods to prevent identity theft are being countered by clever thieves as quickly as the public is notified of them. You need to be aware that you are constantly a possible victim for identity thieves, but that does not mean you need to be an easy target.

The most common place that identity theft occurs is with credit cards. Think about it for a moment – if your purse or wallet was stolen, do you know your account numbers and what number to call for each of those credit cards to report a stolen card? Unfortunately, if you are like most people, you can find out but the information is not readily available to you. This is particularly true if you are out of town and your credit card statements are filed away back home.

The problem is that you cannot wait for a few days or a week to report your card stolen. There have been cases of people doing just that, and the credit card companies had a difficult time even believing them, since it is unthinkable that someone would wait several days to report a stolen credit card.

As a case in point, some friends of mine were vacationing out of the country, and while they were having lunch, the woman’s purse was very quietly and expertly stolen. She realized it within minutes but by then the thief was long gone. Thankfully, her husband who was a seasoned traveler, had a list of the credit card numbers and the phone numbers to call, which he always put in the hotel safe along with their passports whenever he traveled.

They got back to the hotel and immediately started calling the credit card companies to report the credit cards as stolen. This was occurring less than a half hour since the theft occurred. Almost all of the credit card companies had already seen transactions happening on the stolen cards! Less than 30 minutes!

If you are thinking to yourself that doing what this couple did was just too much trouble, think about what would happen if you were a victim of identity theft and did not know where to call, even delayed the call for a few hours or days? As the numerous victims of identity theft can attest to, this situation can take many months and even years to straighten out, as well as countless hours of your personal time.

In addition to being victimized, some people are using this as an excuse to get out of paying a credit card statement. They claim identity theft when no such thing has occurred, thinking the credit card company will just write off the debt. No, it is not quite that easy, and credit card companies have been very alert about this, although much to the detriment of people who really are a victim.

You should also check your credit report often, at least once a year if not more often. If you see accounts on there that you do not recognize, file a dispute immediately, since this is one of the first places you will see evidence of this theft, and reporting it quickly will help prevent identity theft.

Just a few common sense things will ensure that you are not an easy target, and if you take steps today to help prevent identity theft you may find that your efforts have paid off in spades because you did not become a victim.

About Author

For more insights and additional information about you can help to Prevent Identity Theft please visit our web site at http://www.idtheftprotectiontips.com

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Having bad credit is not the end of the world. Recent college graduates, people who are recently divorced, and those who have experienced a death of a loved one, may find themselves with too much credit card debt. These debts are difficult to pay off because of finance fees and higher minimum payments. But there is a way to begin to relieve the strain on ones income. Credit card debt consolidation is a way for people to combine all their monthly credit card bills into one easy payment.

Credit card debt consolidation can be accomplished by making an appointment with a credit card debt consolidation expert. There are many web sites that explain how the debt consolidation process works. By making an appointment to see a debt counselor in person, one can take charge of their financial future. A trained counselor will sit down and explain ways to reduce your debt, for instance by lowering monthly bills. This might include devising a monthly budget that a person should stick to in order to make regular monthly payments. Budgets are a great idea even after the debt has been reduced. One of the goals of a credit card debt consolidation agency is to make sure the person does not find themselves in debt ever again.

The counselor will explain the benefits of taking all monthly bills and combining them into one payment. All credit card debt is charged interest over the month. This can really add up if a person is only paying the minimum payment each month. By combining all bills and charging interest on only one bill, a person will save hundreds of dollars in interest each year. This will really help lower the entire debt. Typically, a person will have to make payments for two years in order to their debt drastically reduced. This depends on the amount of debt a person has, however. For some, it can take up to five years of sticking to a budget and seriously paying off their existing debt.

About Author

For more in-dept information on credit card debt consolidation, visit CC Debt Consolidation.

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There comes a time in most people’s lives when they need the expertise of an attorney. How do you know if you need one? One good way to determine whether you have a legal problem or need legal assistance is to ask a lawyer, but how do you determine which one to call? Do you use the lawyer your friend uses? Look in the yellow book? Online? While these are all good resources for initial contact, retaining a lawyer in this manner would be like throwing a dart at the page and hoping for the best. Here are a few common guidelines to use when making that determination but keep in mind that while most attorneys will give a free phone consultation, their time is valuable. When making an initial call or email, try to be clear as to what the circumstances of your situation are so the attorney you are speaking to can give you an accurate evaluation of your case and you can accurately evaluate the attorney.

Choose an attorney that specializes in the type of case you have.

Many attorneys practice in many areas of law so just because your neighbor uses Joe attorney that does not mean that attorney is right for you. Chances are your neighbors legal needs are not the same as yours. When interviewing attorneys, always ask him or her case-related questions that will help you decide if they are the right fit for you. When the stakes of your case are high, such as with issues of large amounts of money or loss of your freedom, choosing an attorney who does not have enough experience or the right experience for your case could be extremely costly. This is especially true with trial attorneys. If you think your case could end up in front of a jury, make sure the attorney you choose has trial experience.

Choose an attorney that will be available for you.

Some legal needs are more pressing than others and you want to choose an attorney who will be available to answer your questions and be on top of your case needs. Good questions to ask are if other attorneys will be working on your case and what his or her policies are regarding returning phone calls or emails. Ask the attorney for references from other clients. This can be a good source to determine if an attorney will meet both your case needs and your personality. Choosing an attorney that you have confidence in and you can work with is very important.

Choosing a lawyer by the size of the fee may not be a good idea.

You have all heard the saying “you get what you pay for.” This is not always true when retaining an attorney. There are good attorneys that charge minimal fees and not so good attorneys that charge extensive fees. This is where you need to do your homework so you have no surprises. Ask the attorney how he or she bills their clients. Are they hourly or one fee for the case? What items do they charge for? Do they charge for each phone call or letter? What do they estimate the total cost of the case to be? What happens if the case does not go they way the attorney anticipates? Do they work on contingency? In short, the cost of the attorney is relevant but fees should not be the only basis for choosing a lawyer.

When choosing a lawyer, keep practical considerations in mind: the lawyer’s area of expertise, prior experience and reputation, availability to clients, amount of fees charged and the length of time a case may take. If you do a little homework you should be able to find an attorney who makes you feel comfortable and confident about the representation they will provide you.

The attorneys at Adams Law Office PLLC specialize in Criminal Defense and Personal Injury cases for citizens throughout Oklahoma. We are located at 2 W. 6th St. Suite 500, Tulsa, Oklahoma. 74119. For more information contact us at 918-587-8700 or visit our website at www.padamslaw.com for more information.

About Author

Adams Law Office

2 W. 6th St. Suite 500

Tulsa, Ok. 74119

918-587-8700

patrick.adams@padamslaw.com

www.padamslawok.com

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Tax time puts the Law of Argument in the spotlight: Anything is possible if you don’t know what you’re talking about. If you need a match and a cup of gasoline, aimless tax cheating might qualify you for such playthings.

So many of the excuses so many taxpayers use at filing time to avoid paying taxes are totally absurd. They are not only plentiful, but unbelievable, child-like. If they are in training to become a professional con man, they have failed miserably. In prison you spend most of your time in an 8 x 10 cell; at work you spend most of your time in a 6 x 8 cubicle. Maybe these people are trying, in some warped way, to upgrade their lifestyle. Here are some examples of their attempts to qualify:

> The filing of a tax return, and payment of taxes are “voluntary,” is the claim. Wrong. You don’t say this to IRS any more than you would say to a feminist, “Isn’t that cute?” Voluntary only refers to the individual’s rights to put the figures together. The right to file, and pay, is definitely involuntary. To the point of a pounding drum beat, courts have repeatedly told us this.

> The filing of a zero return, entering the figure 0 on every line. Some taxpayers even go so far as to request a refund of their taxes withheld. Insanity? At times it seems reality is a crutch for people who can’t handle drugs. This doesn’t even have the first raw rudiments of a legal scam.

> Contention: Section 6020(6) of the tax code requires the IRS to prepare a federal tax return for any person who does not file. Another nutty, unimaginative argument. (Everybody is somebody else’s weirdo.) Oh, if you don’t file, IRS will file for you alright. They will gather the figures on compensation, and tax you on the entire gross amount. No split-out gross / adjustable gross / net income figures here.

> Some actually assert that wages, tips, and other compensation received for personal services rendered are not income–because, get this, there is no taxable gain when a person “exchanges” labor for money. This “reasoning” is like trying to figure why a woman can’t apply mascara with her mouth closed. Still another head-scratcher.

> Federal Reserve Notes are not money. Why? Because they cannot be exchanged for gold or silver. How about wampum?

> Some claim they have rejected U.S. citizenship in favor of state citizenship, thereby freeing themselves of all obligations to pay federal taxes. Easy way out, huh? After all, there is no recorded case of an ostrich ever having died of suffocation from burying its head in the sand.

> Some even go so far as to claim that the United States consists only of the District of Columbia, federal territories, e.g. Puerto Rico, Guam, etc., and federal enclaves such as Indian reservations and military bases; therefore non-residents of these enclaves are tax exempt. Dreamers, dreamers, dreamers. (Never give yourself a haircut after 3 Martinis.)

Some mistakes are too much fun to only make once? Is that the driving motivation?
Real people. Real thought processes. But, you must ask, are these people all living in the real world?

About Author

The Con Man‘s Blog, and first two chapters of Jack Payne’s legal thriller book, Six Hours Past Thursday, are now available online. Both readable for free. You are invited. www.sixhrs.com

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Nobody looks forward to the possible necessity of filing for bankruptcy, but if you find yourself in that situation, you need to know how to select a good bankruptcy attorney so that you don’t end up losing more than the bankruptcy will cause. One of the big reasons for this recommendation is because the bankruptcy laws have recently changed, and the methods used for filing bankruptcy that worked only a few short years ago are no longer valid. In fact, you actually need to be approved for bankruptcy, meaning that you may not even be able to file.

What this all means is that bankruptcy is no longer the do-it-yourself process that it once was. Before the changes in the laws, it was possible to do this all yourself, but with the law changes, a single mistake as you are going through the mountain of paperwork that must be filed can cause you to go back to square one to start the whole process over. The entire process, even done correctly with a lawyer, can still take months to complete, and presumably you do not have extra months to spend waiting for this to complete.

Presumably you have thoroughly investigated your options to bankruptcy before starting the process. Bankruptcy has several long-term negative effects on you, one of which is a huge blemish on your credit reports for the next seven to ten years. But assuming those options are not applicable to you for whatever reason, let’s look at some steps that you should consider when shopping for a bankruptcy lawyer to represent you:

* Meet with the attorney and make sure you are comfortable with him or her. You need to have confidence that this person is going to represent you properly and has your best interests at heart. They should be happy to explain the procedures that will take place and step you through the process as far as what to expect.

* They should be able to provide you with a list of the various fees they will assess and also precisely explain what they are doing for you for each of the fees they list. Make sure you know what the fees are!

* In your discussion with them, find out if there are things you can do that might either reduce or eliminate some of the fees that they would assess. For example, if you can do much of the running around to get the forms and data, make the phone calls to get necessary figures and such, this can save you a bunch of money. Remember, any time that the lawyer spends working on your case is subject to fees, so if you can eliminate some of that time that does not require legal expertise, you will save.

* Don’t be afraid to ask around for recommendations. Anybody can pay for an attractive ad in your city’s yellow pages, so ideally you want someone who comes as a recommendation from someone who has used them in the past.

* Make sure the lawyer is very familiar with bankruptcy law, especially the variations of that law as it applies to your state. Don’t be afraid to ask how many bankruptcy cases they have handled in the past, as well as in recent years since change of the laws.

Note that you want somebody experienced to represent you with more credentials than simply having a law degree. You want someone who will represent you well, which they can only do if they are willing to take the time to understand your particular situation. Yes, a bankruptcy attorney will cost you money, but chances are better than excellent that the money you will save by using a qualified lawyer will more than be made up in money that you will save in the overall process.

About Author

For more insights and additional information about choosing the right Bankruptcy Attorney as well as getting a free bankruptcy evaluation from an attorney local to you, please visit our web site at http://www.bankruptcy-data.com

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