What will life be like after you have filed for bankruptcy? When speaking
with clients of Arnold Law Group, APC after their
bankruptcy is complete, they feel a cautious sense of relief. After a short period
of time, these feelings often become complete amazement and freedom when
the reality sets in. It is actually incredible to realize that the federal
government has provided these laws to protect the average person or family
and provide them with a fresh start. After months or even years of creditors
endlessly calling at all times of the day or night, it is an amazing sense
of relief to have peace return to your home and mind. People oftentimes
notice a higher quality of life as a result, no longer fearing to answer
your phone calls.
Rebuilding Your Credit
“Bankruptcy: The Ten Year Mistake!” Do you remember hearing
this message? Like any other marketing campaign, this message actually
had air time on radio advertisements, television advertisements and billboards.
This kind of negative and false advertising flies in the face of the "fresh
start" that bankruptcy protection laws provide.
The fact that you declare Chapter 7 or Chapter 13 bankruptcy can certainly
be a part of your credit report for the next 10 years. However, so can
bad credit card debt.
The difference is that the bad credit card debt keeps reporting a negative
mark against you, each and every month. What happens when you have 5,
10, 15 or 25 bad debts, with each of them reporting negatively about you
to the three main credit reporting agencies? Even if you have long forgotten
about that old credit card believed to have been written off, you may
be shocked to learn that the old credit card has not forgotten about you.
Bankruptcy effectively stops the negative reporting to the credit reporting agencies.
Essentially, the omission of the monthly negative reporting alone helps
commence the rebuilding process of your credit score. A Fresno bankruptcy
attorney need not only concentrate upon your present situation, but also
should be concerned with your future. At the Arnold Law Group, APC, we
start speaking about potential credit rebuilding options upon our first
consultation with you. Stop listening to the gloom and doom of false advertising
and start taking steps necessary to rebuild yourself. We can help!
Property Exemptions
Every state has a schedule which determines the types of exempt property
and the monetary values of this property a debtor can keep. California
has two such schedules, and the selection of the proper property exemption
schedule is very important. At Arnold Law Group, APC, our bankruptcy lawyers
understand these exemption schedules, and our goal is for you to keep
all legally exempt property. If the United States Trustee determines that
your property is not exempt, he/she may seize then sell it, and turn over
most of the monies to your creditors, while keeping a percentage for him/herself.
It is extremely important that a qualified attorney properly complete your
means test and make sure all available exemptions are properly claimed.
At Arnold Law Group, APC, our Fresno bankruptcy attorneys are qualified
to ensure that your entire bankruptcy petition is filled out properly
and that you receive all of the exemptions, which you are legally entitled
to. For this reason, we encourage you to work toward a fresh start today
by retaining the help of our firm. .