A common question among bankruptcy filers is how anyone can expect them to have the money to hire an attorney if they don’t have money to pay their bills. It is a fair question that we deal with day in and day out. You have 3 basic solutions to this problem.
When you file Chapter 7 or Chapter 13, a bankruptcy trustee is automatically assigned to your case. Some clients periodically ask me if we can choose our trustee. The fact is that we have no control over which trustee is assigned to our case. We have 2 different Chapter 13 trustees in the Houston area and 8 different Chapter 7 trustees. Although they all do things a little bit differently, their responsibilities are the same.
Occasionally, I will have elderly clients walk through the door who have a reverse mortgage on their home. At the time they took out the reverse mortgage, everything seemed fine and they were excited to receive the money to use on living expenses or to repair a leaky roof, but as everything always does, this excitement went away when they realized the obligations that they had put themselves and their dependents in.
We are almost 5 months past the incredible Hurricane Harvey. Immediately following the hurricane, several mortgage companies and car creditors starting deferring payments to those affected by the storm. These deferments are now ending, which leaves consumers wondering how they are now going to catch up on 4-5 months of payments. What can you do? You don’t want to lose your house and your car that you have worked so hard for all these years.
It may be hard to know when is the right time to file bankruptcy and whether you qualify to file bankruptcy. It is a fairly tricky question and you should consult an attorney who specializes in bankruptcy to help you avoid the pitfalls and answer your questions.
In today’s world, it is increasingly important to have a good, solid credit score. If you don’t have a decent score, it becomes difficult to purchase a home, a car, or to obtain a loan or credit card. Even if you can do some of these things, you are going to pay more because your interest rate is going to be high. In addition, your insurance rates will often go up if you have poor credit and you may have problems finding a good job since so many employers check credit scores in the application process.
Are you struggling to make ends meet each month? Are you have to pay for your groceries and gasoline with a credit card? Are you robbing Peter to pay Paul as the expressions goes? Are you paying the minimum amounts on your credit cards, or worse, not paying them anything at all? Are you behind or constantly late paying your house or car? These could all be signs that filing bankruptcy is the right choice for you.
Texas is full of great tales and tall stories. While enjoying a good story is part of what makes us Houstonians tick, when it comes to money matters, blindly believing common myths about debt can be financial suicide. Here we’ll debunk 4 of the most dangerous and prevalent misconceptions regarding money and debt. If you have financial concerns in Houston, book a free financial consultation with Attorney Rod Kemsley.
The smartest method of avoiding financial problems is to have no credit cards.