October 6, 2011

Hollywood Breakups & Divorce

Posted in Celebrity Divorce tagged at 9:17 am by demetriagraves

While the rumors are running thick and fast about a potential break-up between Demi Moore & Ashton Kutcher. Apparently another one of Hollywood’s couples have announced their intention to divorce. “X-Men” star James Marsden, who is best known for his role as “Cyclops” and his wife Lisa Linde are divorcing, after more than a decade of marriage.

Linde filed for divorce recently and cited irreconcilable differences in court documents. Linde is seeking spousal support and joint legal and physical custody of the couple’s two young children Jack and Mary.

According to Marsden’s representative, “This was a mutual decision, they are committed to raising their kids together and remain great friends.”

Marsden, 38, married Linde, daughter of country songwriter Dennis Linde (who penned Elvis Presley’s 1972 hit, Burning Love), in July 2000.

Demi Moore’s marital woes seem to be gaining a lot of media attention, the past weeks have been littered with reports of infidelity, isolation, hurt feelings and photos of a supposed San Diego mistress. But through everything, the pair have remained almost silent. Kutcher, 33, is said to have gone wild in San Diego at a tech convention on the weekend of his sixth wedding anniversary to Moore, 48. There are even suggestions that on the same weekend, Kutcher enjoyed the company of not one but two women at the San Diego Hard Rock Hotel.

We’ll have to see how this one plays out, perhaps there will be another Hollywood divorce in the not too distant future.

September 29, 2011

Melissa Etheridge Custody Battle

Posted in Celebrity Child Support, Custody tagged at 2:02 pm by demetriagraves

Singer Melissa Etheridge and her ex-partner, Tammy Lynn Michaels, are currently battling over custody of their twins, division of property, visitation rights plus child and spousal support. The Grammy-winning Etheridge, 50, and Michaels, 36, were together nine years before their breakup last year. Michaels gave birth to the couple’s four-year-old twins, son Miller and daughter Rose, using an anonymous sperm donor. Among other disputes, Etheridge is reportedly claiming that the couple’s marriage vows in 2003 were non-binding and that they were never married.
In separate filings to end their California domestic partnership, each claim “irreconcilable differences.” Etheridge is asking the court for joint custody of the couple’s twins. Michaels,  says she wants full custody of the children with visitation rights for Etheridge.
Michaels has previously claimed that Etheridge left her and their children penniless, allegations Etheridge has denied.
Michaels, said on her blog that she gave up an acting career in 2001 to care for the children. She has filed for a dissolution of marriage, rather than domestic partnership, believing she is more likely to prevail in her claim for spousal supports if the court views their relationship as a marriage.

Is Filing Bankruptcy Worth the Money?

Posted in Bankruptcy tagged at 1:58 pm by demetriagraves

Obviously, if you’re considering filing for bankruptcy money in your household is probably tight. You may be struggling to come up with gas money to get to work or buy groceries let alone coming up with money to pay a bankruptcy attorney. People often ask me whether it worth the money you pay a bankruptcy attorney to file your bankruptcy case. Seeing that I am a bankruptcy attorney my answer may be biased, but usually when I lay out what you get for the fees you pay, most people see that it is a pretty good deal.

Before you can know whether it is worth it or not, you need to know what your bankruptcy is going to cost you. If you have called around to ask bankruptcy attorneys what they charge you were likely surprised to learn that many won’t tell you what they charge. I know this is very frustrating for clients. Imagine going to the store to buy a new TV only to have the store clerk refuse to tell you what the purchase price of the TV is! It is a little different when it comes to legal work. The main reason is without sitting down with you and going over all of the facts of your case it is difficult to determine how much work is going to be required and what the corresponding price will be. Plus there are court filing fees and some other costs which add to the total price.

So what does your money get you? Firstly, the bankruptcy process is much more complex than many people understand (even some attorneys). There are many pitfalls that can cost you big time if you don’t understand the law or the process. Hiring a bankruptcy attorney helps you to avoid the problems that can arise in a bankruptcy case. Further, hiring an attorney will put a buffer between you, your creditors, and the bankruptcy trustee. Instead of you having to deal with legal issues that will arise in your bankruptcy case, your attorney will handle all of that for you. And finally, you get legal counsel to assist you for the entirety of your case. In a Chapter 7 bankruptcy you will have counsel for approximately 6 months.

Often bankruptcy is cheaper than settlement. Many of my clients have tried to settle their debts prior to resorting to a bankruptcy filing. They find that most credit card type debts will agree to take less than what is owed, or “settle” the debt. Usually the credit card company will want 45% up to 75% of the total amount owed to settle the debt. So if you owe $30,000 in credit card debt, you would need to pay $13,500 up to $22,500 to settle these debts.

In a Chapter 7 bankruptcy case you can eliminate credit card completely. However, you have to pay an attorney to help you through the process. Though, this is usually significantly less than what a settlement amount would be. I realize that it is a sacrifice for many people to put together the money to pay an attorney to assist them through the bankruptcy process. At the same time, when compared to other ways of reducing your debt, hiring a bankruptcy attorney is a bargain.

If you would like more information on what filing bankruptcy costs and if this is the right solution for you, I offer a free 30 minute telephone consultation, where you can get all you questions answered.

September 24, 2011

Cost of Being a Celebrity Cheater

Posted in Celebrity Divorce tagged at 5:49 am by demetriagraves

I have often featured articles about celebrity break-ups and divorce. Often the cause of these break-ups has been cheating. So what is the cost of being a celebrity cheater and does this have implications for the average person? Certainly infidelity changes things emotionally, where what might have been a divorce in which people had a little bit of trust and didn’t feel like they had to turn over every rock, when there’s infidelity they don’t trust anything and are much more aggressive in looking at areas to investigate.

The division of assets – bank accounts, homes, cars, etc. – is just the beginning. You can lose your kids, and there’s no price tag for that. Plus if you’re a celebrity you can lose your livelihood and your endorsements if you have a clause in your contract that holds you to a higher standard. Studios and ball teams don’t want to be embarrassed.

Here’s a look at some well-known celebrity cheaters and how they fared after the divorce:

Donald and Ivana: Trumps Are Wild
The celebrity cheater: Donald Trump, New York real estate tycoon.
The other woman: Marla Maples, Georgia beauty queen and aspiring actress.
What was gained: Maples became a celebrity and bankable Broadway actress thanks to her high-profile relationship with the real estate mogul from 1988 until Trump divorced first wife Ivana in 1992. Trump and Maples married and had daughter Tiffany (not in that order) the following year, separated in 1997 and divorced in 1999. Maples received $2 million as part of a prenuptial agreement, plus child support.
In the bigger picture, the media heat that surrounded the affair arguably elevated Trump’s public profile from prickly multimillionaire to enduring celebrity, paving the way for the 2004 debut of “The Apprentice,” his successful reality TV franchise. Ivana launched her own empire, which includes fashion, jewelry, cosmetics, bestselling novels and a reality show, “Ivana Young Man.”
What it cost: Divorcing Ivana cost Donald a rumored $20 million, the couple’s $14 million Connecticut estate, half of their Mar-a-Lago manse in Florida, $350,000 annual spousal support and child support for their three children, Donald Jr., Ivanka and Eric.

Tiger and Elin Woods Finish in The Rough
The celebrity cheater: Tiger Woods, high-profile professional golfer.
The other woman: Numerous.
What was gained: Zip. Zilch. Nada. There have been no winners and plenty of losers since Thanksgiving 2009, when Woods backed his SUV badly out of his Orlando, Florida, mansion and straight into tabloid hell. Tiger’s public confession of numerous affairs and a stint in rehab did little to repair his marriage or contain the damage.
What it cost: Does “everything” sound about right? For starters, his divorce from wife Elin reportedly cost Woods $100 million, two Florida homes, an apartment and $2.2 million estate in Sweden, plus physical custody of daughter, Sam, and son, Charlie. There’s also the $22 million in lost endorsement deals with Gatorade, AT&T and Accenture (though he retained Nike and Gillette).
Last but not least, there’s his golf game. In 2009, the last PGA tour before the scandal, Woods won six tournaments, earned $10.5 million and placed first in the FedExCup standings. The following year, he finished in the top 10 twice, earned $1.3 million and fell to 112th in the FedExCup standings.
Then again, with a net worth estimated at $500 million, Tiger won’t starve.

Sandra Bullock and Jesse James: Road Burned
The celebrity cheater: Reality TV star Jesse James.
The other woman: Tattoo model Michelle “Bombshell” McGee.
What was gained: Undue publicity for everyone involved. America’s sweetheart Sandra Bullock was blindsided and mortified by the news of her husband’s year-long affair with a tattoo model just days after receiving the best actress Oscar for “The Blind Side.” James and McGee cashed in on their 15 minutes, however; he with a tell-all book, “American Outlaw,” and she with numerous talk show turns and an Australian “Sexpo” tour.
What it cost: Would you believe nothing? Despite James’ attempt to save face by stating he would refuse spousal support (he is the CEO of West Coast Choppers after all), it really wasn’t necessary — by Texas law, you must be married 10 years to receive spousal support.
Maria Shriver to Arnold Schwarzenegger: ‘I Won’t be Back.’
The celebrity cheater: The former “Governator” and action hero.
The other woman: Longtime housekeeper Mildred Baena.
What was gained: The worst reviews of Schwarzenegger’s career. The world was shocked, not only that the former bodybuilder would have an affair and father a love child with Baena, but also that it would be his wife, Maria Shriver, who recognized the unmistakable resemblance in her housekeeper’s son and ended the charade.
Arnold, of course, gained a son, 14-year-old Joseph, who was born just five days after Shriver gave birth to the couple’s fourth and youngest child, Christopher, in 1997.
What it cost: Let’s call this a redistribution of wealth, shall we? According to Celebrity Net Worth, the Hollywood action hero-turned-governor is worth in the neighborhood of $300 million. Shriver, an Emmy Award-winning television journalist, has amassed around $100 million, also a very nice neighborhood.
It’s understood there was no prenup and because California is a community property state, most of the millions they’ve accumulated over a quarter-century together could be split 50-50, leaving Shriver with a settlement in the comfortable neighborhood of $200 million.
Baena says Schwarzenegger was “generous” to her following the birth of their secret son.

Shania Twain and Mutt Lange: Happy Endings
The celebrity cheater: Robert “Mutt” Lange, the Svengali-like music producer behind Shania Twain’s hits.
The other woman: Twain’s best friend, Marie-Anne Thiebaud, who was Lange’s personal assistant and Swiss interpreter.
What was gained: A qualified happy ending. When Lange met Twain in 1993, he was a legendary rock producer (AC/DC, Bryan Adams, Def Leppard) and she was a Canadian country music novice 17 years his junior. They met, quickly married and moved to Switzerland. Together they produced three multiplatinum albums, including “Come on Over,” still the best-selling album by a female singer. They also had a son, Eja, in 2001.
Twain learned of her husband’s affair from the other woman’s husband, Swiss businessman Frederic Thiebaud, whom she later started dating. Following her 2010 divorce from Lange, Twain wed Frederic on New Year’s Day in Puerto Rico. It was Frederic who suggested she take Oprah Winfrey up on an offer to host her own reality TV show on the OWN network, “Why not? With Shania Twain.”
What it cost: While terms of their Swiss divorce remain sealed, there may have been a redistribution of the Twain-Lange empire, which Celebrity Net Worth estimates at $350 million for Twain and $225 million for Lange.

Real Housewives Hubby Joe Giudice Withdraws Bankruptcy

Posted in Celebrity Bankruptcy tagged at 5:47 am by demetriagraves

After Teresa & Joe Giudice filed for bankruptcy a year ago, it seems that Joe may be getting cold feet and he is going to try and deal with his debts rather than trying to discharge them through bankruptcy. By withdrawing his bankruptcy filing Joe now won’t be able to clean his hands of millions of dollars in liabilities.
Apparently, Joe was starting to feel the heat when he began being questioned by the trustee of his creditors about assets, income and business interests and opted to invoke the Fifth Amendment after consulting with a criminal defense lawyer.
“The defendant Giuseppe Giudice acknowledges his desire to resolve the matter without the need for further inquiry or litigation, and without making any further admissions,” the court papers read.
Meanwhile, Joe’s wife Teresa has yet to abandon her bankruptcy case, despite the fact that the same trustee who was suspicious of Joe’s finances is also opposed to clearing her debt. So stay tuned for more on this one.

September 16, 2011

McCourts Battle Over Spousal Support

Posted in Spousal Support tagged at 11:24 am by demetriagraves

With the help of a judge, recently attorneys reached an agreement that called for Frank McCourt to continue paying his ex-wife Jamie $225,000 a month in spousal support pending a trial in November.  The McCourts appeared in a downtown Los Angeles courthouse in another episode of their divorce battle over ownership of the team.

Frank McCourt was paying an additional $412,159 a month for the mortgages of six luxurious homes and a condominium, but that money will now come from an account created after the sale of a home near the Playboy Mansion.

Frank McCourt filed a motion in July saying that he has paid his ex-wife roughly $7.7 million over the past year. He said the payments should be more in line with the $5 million he receives annually. However, his ex-wife contends that her ex-husband has enough to pay. She notes in a recent filing that her ex-husband has received more than $44 million into his bank accounts since June 2010.

As the battle continues in court, on the field and in the stands the Dodgers are suffering.
Attendance is slumping. In 2009, the Dodgers had the highest average attendance rate in the country. Just two years later they’ve dropped to 10th in their attendance rate – a 20 percent reduction.

The Dodgers filed for bankruptcy protection in Delaware last month, blaming a cash-flow crisis on Major League Baseball’s refusal to approve a multi-billion dollar TV deal McCourt was counting on to keep the franchise afloat. MLB assumed control of the club’s day-to-day operations in mid-April.

More College Graduates are Filing For Bankruptcy

Posted in Bankruptcy tagged at 11:22 am by demetriagraves

People who file for bankruptcy can come from all walks of life. I’m often asked, what type of person files for bankruptcy? What is their profile? A wedding ring, college degree and a well-paying job sound like the American dream but they may be recipe for bankruptcy? Some of the factors often associated with financial success, like being a college graduate are increasingly becoming correlated with filing for personal bankruptcy, according to a study released recently by the Institute for Financial Literacy.
The study found that from 2006 to 2010, bankruptcy filings increased among college graduates and those earning $60,000 a year or more. What’s more, last year, 64% of bankruptcy filers surveyed were married—a number that also increased from five years ago.
It seems that the Recession has had a dramatic impact on the bankruptcy filings of American consumers across the economic spectrum—including college educated and high income earners. While less educated, low income individuals continue to represent the typical bankruptcy filer, this report highlights an evolution of the profile of the American debtor that now extends across all age, income and ethnic groups.
The survey collected responses from some 50,000 of individuals that filed for bankruptcy in the past five years. All respondents had sought credit counseling. The study found that those holding a bachelor’s degree accounted for 13.58% of filings last year, up from 11.2% in 2006—a 21% increase. Those holding high school degrees still accounted for the largest percentage of filers, 36.27%, but their proportion of all filers fell by 8.6%. Those most at risk for a bankruptcy filing were individuals who attended college but did not complete a degree. This group accounted for 28.7% of filings last year. This may be because they have all the burdens of school related debt and none of the rewards of an actual degree.
While those earning less than $20,000 per year accounted for nearly 40% of all filings, higher-income earners saw their ranks grow in the past five years, the study found. Those earning $60,000 or more accounted for 9.2% of all filings last years, up from 5.5% in 2006, a 67% increase. The study found that the number of filers who were married jumped above 60% in the past five years, from 57.2% in 2006. That out paces the 50.3% of U.S. adults that are married, according to the Census.

September 8, 2011

Do’s and Don’ts Prior to Filing Bankruptcy

Posted in Bankruptcy tagged at 10:55 pm by demetriagraves

When you have made the decision that it is necessary to file for bankruptcy the next step is to plan out when you are going to file your bankruptcy and all the steps that lead up to that day. Almost daily I meet with people who really need to file bankruptcy but have put themselves in a difficult position because of recent pre-bankruptcy transfers or failure to pay the “right” bills. Along those lines, I thought I would put together a list of Do’s and Don’ts for those preparing to file for bankruptcy.


#1 Make your house payment. If you plan on keeping your car or your house through the bankruptcy process it is important that you continue to pay the monthly house or car payment. Even in bankruptcy you are required to make these payments if you want to keep the car/house. In a Chapter 7 bankruptcy failure to make your monthly payments will result in the bankruptcy court giving permission to foreclose on your home or repossess your car.

#2 File your taxes. If you have not filed your taxes, your bankruptcy case can be dismissed before it really even gets going. If you have tax returns that you have not filed, take the time to get them filed prior to filing your bankruptcy case. It will save you time, money, and aggravation.

#3 Prepare to meet with your attorney. The bankruptcy system is based upon your voluntary disclosure of all of your assets, income, expenses, etc. It is highly unlikely that someone will come to your house and check to see what you do and don’t have, but if it is discovered that you have not been truthful you will likely lose your discharge (the entire reason you filed for bankruptcy), and could face fines and even jail time. Along those lines, it is important that you are prepared to disclose everything needed to file your bankruptcy.

To get all this information it may require you to find old tax returns, pay-stubs, titles or registrations to vehicles, bank statements. Be prepared to meet with your attorney by having a good idea what your assets, debts, and expenses really are.


#1 Don’t pay a debt to a family member. I understand that thought process that goes into this one. You are going to file bankruptcy. You are going to eliminate your debts. Prior to doing that you want to make sure that the $5,000 you loaned from your mother is paid back so you find some money and pay her in full. In bankruptcy world this is a bad idea and could result in your mom getting sued. Here’s why. You will be required to disclose any payments of more than $600 you have paid any of your creditors in the last six months, and if you have made payments to a family member, you will be required to list any payments in the last year!

Payments to your relatives to the detriment of your other creditors are known as preferences and sometimes as fraudulent transfers. If you give money or assets to a family member, or if you repay them and no one else, you run the risk that the bankruptcy trustee will go to your family member and demand that they give the money back. If they don’t, they will sue them, take the money, and divide it among your creditors. If you owe a family member, just let them know that you can always voluntarily pay them after your bankruptcy.

#2 Don’t continue to use your credit cards. If you are looking to file bankruptcy you should stop using your credit cards. Any charges on your credit card totaling more than $600 within the 90 days prior to your bankruptcy case are presumed to be nondischargeable. This means that they don’t go away in your bankruptcy case. And when I say “totaling more than $600,” I don’t mean a single purchase of more than $600, I mean that the total of all your charges within that 90 days are more than $600.

The bankruptcy code does state that these charges are only nondischargeable if they are for “luxury goods or services.” While luxury goods or services is not defined, the bankruptcy code does tell us that good or services that are reasonably necessary for support and maintenance of your household do not fall into this category. While I will not advise you to incur new debt, I can tell you that in my experience that if you have bought a new big screen within the 90 days prior to filing that you may get an objection by the credit card company. If you bought gas for the car and diapers, you probably won’t get an objection.

Also, if you take out more than $875 in cash advances off your credit card in the 70 days prior to filing your bankruptcy case, those charges will not go away.

#3 Don’t transfer assets out of your name. Like paying a family member, I understand the thought process to this one. You are filing bankruptcy; you would really like to keep your truck, so you decide to transfer it in to your brother’s name while you go through the bankruptcy. Problem is, the drafters of the bankruptcy code thought of this too, and decided that it wasn’t fair to your creditors to allow you to do this. So, if you transfer your truck into your brother’s name prior to filing bankruptcy, the bankruptcy trustee will be able to go to your brother and undue that transaction and it is usually undone with a federal lawsuit (which makes Sunday dinner with the family really awkward from that point on!).

All transfers of assets – whether sold or given away – within the last two (2) years must be disclosed. Rather than taking that asset out of your name, talk with your bankruptcy attorney. Often it is not even an asset that is at risk, is exempt, or there is a deal that can be reached with the bankruptcy trustee and the transfer only makes things worse. Don’t transfer assets.

If you have come to the conclusion that bankruptcy is necessary to help you with your debt problems, give me a call and we can go over your situation in detail. I offer a free 30 minute telephone bankruptcy consultation where you can get all your questions answered.

Why You Should Choose A Family Law Attorney

Posted in Custody, Family Law tagged , at 10:51 pm by demetriagraves

Choosing an attorney to represent you in a child custody dispute can be overwhelming. A simple internet search can produce hundreds of hits. But, not all attorneys are created equal. In a case where your relationship with your child is in jeopardy, you must give this decision a great deal of thought and consideration.

 Firstly, its important to commit to hiring an attorney to assist you in your family law or child custody matter. Many people believe that they do not need an attorney to represent them in court. This is true; you do not need to hire an attorney and are free to represent yourself in all legal matters. However, proceeding on your own, or pro se, can be a very difficult undertaking. Attorneys are familiar with court rules and procedures, and good attorneys will know how to utilize those rules in your favor. Do you have lots of evidence that you are an excellent parent and you want a judge to review this evidence? Well, if you fail to present it to the judge in the appropriate manner, a judge may never see this evidence. At the very least, it is important to know your rights as a parent. You should consult with an attorney at some point during your legal proceeding, even if you are unable to retain an attorney to represent you for the entirety of your matter.

 Family Law is a very specialized field, so it’s important to go with a family law specialist. Even within family law, there are further specializations. Imagine going to your family doctor for a serious neurological problem. If that doctor doesn’t refer you to a neurologist, then he has failed to fully care for you and your needs. Likewise, if you contact an attorney with a general practice who doesn’t refer you to a family law attorney, he or she is not giving you the best service. Each area of law has its own set of rules and hundreds of applicable statutes. For your child custody matter, you want an attorney who has committed themselves to the exclusive practice of family law.  This attorney will likely be up to date on the newest developments in family law, the latest changes to family law statutes, and best equipped to handle your matter. He or she may be familiar with the various family court judges in your area, as well as other local attorneys. All of this knowledge will benefit you.

Personality and philosophy; are you and your attorney a match? If you are not already familiar with a family law attorney, its important to find the right attorney. Many people look just for an attorney they can afford, but its also important to find an attorney who understands your goals and the manner in which you would like to achieve your goals. Do you want a pit bull attorney? Do you have unlimited resources and want to overturn every rock, exploring every possibility? Are you sick of fighting, ready to move on, and hopeful to reach agreements with your child’s other parent?  I recommend meeting with your potential attorney and talking with them. Plus see if they have any references who wouldn’t mind talking with you about their experiences. Hiring an attorney can be a major financial commitment. Make sure you have hired someone who shares your values, and clearly understands the outcome you are seeking.

If you would like to speak to an attorney to better determine your rights, and move forward in a child custody matter, or any family law concern. I offer a free initial consultation where you can get your questions answered.

September 1, 2011

Bankruptcy – Should I file Now or Later?

Posted in Bankruptcy tagged at 2:13 pm by demetriagraves

If you’re in financial trouble, its very easy to try and ignore the problem and hope that it will go away. Though many people come to realize that filing bankruptcy is one of the best options for wiping out your debt and getting a fresh start. If you are considering filing for bankruptcy one of the hardest decisions to make can be when is the best time to file – now or later? Here’s some top reasons why it’s a good idea to file now.

You received a notice scheduling a foreclosure sale. Once a foreclosure sale takes place, in most states, it is next to impossible to do anything to get your property back. Don’t delay, file your Bankruptcy before that sale takes place!

You would like to eliminate your 2nd mortgage or home equity loan(s) while the real estate market is down. If real estate prices go up, you may miss this opportunity to eliminate a 2nd mortgage or home equity loan through the lien stripping process if you’re filing Chapter 13 bankruptcy.

You have had a foreclosure, and now the company holding the 2nd mortgage or home equity loan is after you for payment. It is unusual for a company holding a second mortgage or home equity loan to try to collect once someone has lost their property in a foreclosure. So if they start to bug you for payment, it means you have been selected as a target and may be facing a lawsuit. Filing Bankruptcy will prevent any lawsuit from going forward & can save you a lot of grief.

Your income is stable or is going up. Bankruptcy law requires that your income be an average of what you earned past 6 months. If your income goes up, you may qualify to file now but you may not qualfy if you wait. If you need to make payments in your Bankruptcy, your payments will be higher if you wait. Let Bankruptcy work for you & file before Bankruptcy is not an available option for you.

A creditor has sued you. If you wait to file Bankruptcy, your wages may be garnished, your bank account can be attached, and liens canl be placed on your property. Do you really want to lose more money because you put off filing Bankruptcy?

You can’t stand any more creditor harassment! Those annoying calls from creditors can really ruin your day, adding stress to an otherwise difficult situation. Isn’t it time to bite the bullet & just get the whole thing past you by filing Bankruptcy? Once you file Bankruptcy, creditors are prohibited from calling you and have to work within the Bankruptcy Court, something they almost never do. What happens when a creditor calls after you file Bankruptcy? All you have to do is say “I filed Bankruptcy, and my case number is…” The calls will stop within 10 days or so!

You want to prevent more damage to your credit so that it is easier to repair and rebuild your credit once a Bankruptcy is over. The longer you go not paying your bills, the worse your credit will be when it is time to file. Every month you are late, are over your limit or pay only the minimum payment, the lower your credit score will be. Once your Bankruptcy is over, you can begin to restore your credit and increase your score. Restoring your good name is a process that takes time, and you can’t begin to do this until your Bankruptcy is completed.

The IRS or child support authorities are after you. You need legal protection from the IRS or the child support authorities. Bankruptcy can provide you with that legal protection. Although Bankruptcy cannot eliminate many kinds of taxes or child support, filing bankruptcy can make these debts manageable by eliminating other debts like credit card bills. You might be surprised that you can eliminate some of your tax debt in Bankruptcy.

You have plans for a better life, but your past debts are stopping you. If you plan on getting married or getting a new job, your past debts may prevent you from implementing these plans and having a better life. You only live once, so why deny yourself a better life by delaying filing?

The stress of dealing with debt prevents you from thinking clearly, causes you overwhelming emotional distress, depression, or even medical problems. Under these circumstances, you can’t afford to wait to file Bankruptcy. If you can resolve the debt problem, you can begin to focus on what is really important, your health and your family’s well being!

If you would like more information about how bankruptcy may be the best option for you. I offer a free 30 minute telephone bankruptcy consultation where you can get all your questions answered.

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