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Arizona Chapter 7 and Chapter 13 Bankruptcy Lawyers
People crushed by mounting debt, harassed by debt collectors and banks, or facing foreclosure and repossession, should not feel alone or be ashamed to find themselves considering chapter 7 or chapter 13 bankruptcy help from a bankruptcy attorney. Bankruptcy has a long tradition in the history of Western civilization: the Old Testament book of Deuteronomy, Chapter 15, verses 1-2, instructs the ancient Israelites to do the following:
"At the end of every seven years thou shalt make a release. And this is the manner of the release: Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother; because it is called the LORD's release."
Each year, over 1.5 million people, 2% of the population, in the United State file for chapter 7 or chapter 13 bankruptcy. On almost a weekly basis, we learn about another corporation, airline, or investment firm facing bankruptcy. Now, with the subprime mortgage crisis impacting the housing market, we learn irregular underwriting practices and outright fraud on the part of financial institutions has left millions of Americans facing foreclosure and bankruptcy.
Bankruptcy - Credit Card Companies are NOT Your Friend
The Federal Reserve sets interest rates, which in turn influence banks and credit card companies. One way to stimulate the economy is to encourage and promote consumer spending through lowered interest rates as set by the Federal Reserve. Since the 1990s, banks and credit card companies have promoted consumer spending by luring new customers with low interest credit card offers. Not only were credit card offers mailed to college students and others without an established credit history, minimum monthly payments were reduced to encourage people to carry increasing amounts of debt.
In this sense, banks and credit card companies played a major role in the rise of people applying for bankruptcy. And, because both the banking and financial industry lobbies Congress in regard to rules and regulations, the government did very little to protect consumers from outrageous penalties, teaser rates, and credit card fees. Of course, the government didn't complain too much since increased consumer spending created, in part, the illusion of a vibrant, growing economy. As a result, since the government and banks wanted more consumer spending, putting Americans in debt was considered good for business - for both banks and the government.
Facing Bankruptcy - There's No Reason to Beat Yourself Up
Not only have banks, financial institutions, the Federal Reserve, and the government contributed to the creation of consumer debt but outsourcing and the loss of American jobs has contributed as well. As layoffs and outsourcing burgeoned in the 1990s and after 2000, Americans now find annual layoffs a regular event. This is not to say that we don't bear any responsibility for getting ourselves into debt - we do. However, there were decisions made at a higher level, as well as powerful financial operative forces that played a major role in the rise of bankruptcy.
There is Life after Bankruptcy - Getting Bankruptcy Legal Help
Re-establishing your credit after chapter 7 or chapter 13 bankruptcy can be easier than you think. First, you should make sure that all of the credit lines you discharged in chapter 7 or chapter 13 bankruptcy are classified as such on your credit report. The underwriting time to re-establish your credit is as easy as 24 months with 3 credit lines reporting current during that entire time after bankruptcy. Ask your chapter 7 or chapter 13 bankruptcy attorney about it during your FREE CONSULTATION. To schedule a free consultation to discuss your bankruptcy and how we can help you, contact Arizona wantafreshstart.com. Our chapter 7 and chapter 13 bankruptcy attorneys can explain what is involved and discuss your options and rights in chapter 7 or chapter 13 bankruptcy. Once you retain one of our chapter 7 or chapter 13 bankruptcy attorneys with as little as $100 you are able to refer your annoying creditor calls to our firm. Once you file a chapter 7 or chapter 13 bankruptcy you third-party creditors and collection agencies are required to stop contacting you.
To schedule a free consultation to discuss your chapter 7 or chapter 13 bankruptcy rights and how one of our chapter 7 or chapter 13 bankruptcy attorneys can help you, contact wantafreshstart.com today.
