Dealing with Personal Bankruptcy in San Jose, California
San Jose Bankruptcy Lawyer
Personal Bankruptcy occurs when an individual debtor is having financial hardship and can no longer pay their debts or manage their financial affairs. The first step will be to analyze your financial situation and determine how much you have left at your disposal, how you to raise money and how you raise it. Personal Bankruptcy will allow an individual to make a fresh start and relieve them from unpaid debts that they can not pay back due to financial hardship. An individual debtor can file for chapter 7 or Chapter 13 bankruptcy to reduce or eliminate their debt. Please contact the San Jose Bankruptcy Debt Relief Law Office of Geoffrey Nwosu located in Silicon Valley, Bay Area at 408-912-5983 or www.nwosulaw.com confidential free consultation.
Steps to take before Filing Bankruptcy
Organize your paperwork. The first step will be to organize your documents like creditor files with their addresses, monthly bills and invoices, receipts and any supporting documents. This will help you if you decide to file bankruptcy or negotiate settlement with the creditor or lender.
Planning and budgeting. Prepare a list of all your bills and expenses like mortgage, car, power, phone, groceries, and gas etc. Then, determine which ones are secured with collateral and which ones are unsecured. Next, itemize which items you must keep and the others you may dispose off like Cable, gym membership, dinners out, and clothing.
Maintain your credit record. Pull your credit report to see if there is old debt you forgot about. You are entitled to one free credit report from each of the three major credit agencies per year. Contact the credit reporting agencies if you want to question any debt that does not belong to you.
Pay with cash only when possible. Plan what you must buy with cash and do not exceed it. You may take a class on how to survive with cash only.
Review your credit card companies. Do not accept any credit card with high interest rates. Negotiate with your issuer and ask them to reconsider your interest rate.
Dispose off non essential assets. Sell assets and items that have cash value like old clothes or collectibles. EBay, garage sales and shops can all be a source of cash.
Consult a credit counselor. Locate an experienced but low cost credit counselor to assist you in this credit management process. Now that credit counseling is mandatory in the new bankruptcy law, the Department of Justice also provides a list of their certified credit counseling agencies ( www.usdoj.gov/ust).
Avoid using your retirement assets to pay unsecured bills and debts. Many people make the mistake of depreciating their retirement funds to pay unsecured debts. Save your retirement assets for your retirement age.
Contact your Creditors and start Negotiation. Creditors are more serious now about negotiating payments because of the economic. They know that many people are unemployed and cannot make their payment. Start low and build up your offer.
Filing Bankruptcy with a San Jose Bankruptcy Attorney and California Debt Relief Lawyer. The new bankruptcy law introduced the means test. Bankruptcy forms have many requirements that you may not understand. Bankruptcy attorney Geoffrey Nwosu, a Silicon Valley bankruptcy lawyer will help you to navigate the bankruptcy process.
The Law Office of Geoffrey Nwosu is a licensed bankruptcy attorney ready to help you file for Chapter 7 and chapter 13 bankruptcy.
Bankruptcy Assistance – California Attorney helping San Jose Bay Area debtor’s to file Bankruptcy
San Jose bankruptcy attorney and East San Jose debt relief lawyer at our law office will speak to you for free about filing bankruptcy. We serve clients that are having financial difficulties paying their debts to eliminate their unpaid debts, wipe the unpaid debts off and start fresh. A bankruptcy lawyer at Nwosu bankruptcy law center will consult with you for free to evaluate your bankruptcy options. This discussion will cover consumer debts bankruptcy, personal bankruptcy, chapter 7 bankruptcy, chapter 13 bankruptcy, chapter 11 bankruptcy, business bankruptcy and non bankruptcy solution. We have assisted many clients in filing their bankruptcy petitions in Santa Clara County, Alameda County, and San Francisco County. Please contact the San Jose Bankruptcy Debt Relief Law Office of Geoffrey Nwosu located in Silicon Valley, Bay Area at 408-912-5983 or www.nwosulaw.com for a confidential free consultation.
The bankruptcy Law Office of Geoffrey Nwosu is located in San Jose Campbell Bay Area Northern California. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
