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May 1, 2008
Today, in the United States, states have created usury laws in order to set a maximum legal interest rate limit. Because Congress has chosen not to regulate interest rates on a national level, individual states have made the decision to to protect their consumers. Unfortunately, the usury cap is still at a very questionable rate and in the last twenty or so years it has only risen. In the state of Michigan, the usury rate is currently 25%. Which begs the question, why have interest rates been allowed to soar to such outrageous amounts?
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January 28, 2008
As it stands now, Chapter 13 bankruptcy is the most effective tool in saving your home from foreclosure. It allows you to get caught up, while freeing you from other debt you may have. However, there is a call to allow bankruptcy judges to help even more. Jack Kemp, the former secretary of Housing and Development, recently wrote an opinion for the Los Angeles Times. In it, he outlines changes that could make Chapter 13 bankruptcy more helpful to homeowner ’s and the economy in general.
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Filing Bankruptcy on your own in Chicago or Michigan |
Filing Bankruptcy on your own
I spend most of my day answering different Bankruptcy questions for individuals. On given days I may speak to as many as fifty or sixty people. When I am speaking to people they often ask if they can file bankruptcy on their own. Now I am sure in your daily life you have heard people say that they can do all sorts of things that they would never be able to do. I love those Holiday Inn commercials where there is a character doing all sorts of strange things like flying an Airplane. When the character is asked "are you a pilot" he answers "no but I did stay at a Holiday Inn". Bankruptcy is very technical. If you miss one detail you may not be able to discharge some debt. You can get barred from court for a period of time if you file to many times or if it is done incorrectly.
At the end of the day Bankruptcy is Cheap
My office rarely charges more than $900.00 as an attorney fee to get rid off anything under $100,000.00 in debt. This is for unsecured debt only. If you don't know the difference between the two call me and we can talk about it. If you don't know the difference between the two this is just one more reason to hire an attorney for your filings. If you have had problems with attorneys before, and who hasn't, then find someone who is straight forward and is willing to explain all the possible options to you.
Only a Bankruptcy Attorney
When you find an attorney make sure it is a Bankruptcy Attorney. You wouldn't go to a dermatologist to have Heart Surgery. I have six attorney's who work behind me in both Michigan and Illinois and without those attorney's I could never sit on the phone and have the opportunity to help so many people. They all practice bankruptcy. Bottom line "can you file a bankruptcy on your own?" not if you want it done right.
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