10 Real Bankruptcy Clients

10 Real Results in Which Bankruptcy Helped

In many cases we have been able to substantially lower the amount paid to the banks and credit card companies, reduce the interest on the car payments, get additional time and/or reduce the amount which has to be paid on monies owed to the I..R.S. for taxes, lowered the interest rate or completely eliminated interest on debt, stopped foreclosures on a home, gotten up to 5 years to catch up on mortgages or real estate taxes and thereby preventing a foreclosure and in some cases reduced the monthly mortgage payment.

We have been able to help people keep their home, give up a rental home which they no longer wanted and could not afford, get rid of an expensive and unwanted timeshare which they no longer wanted, and make no more payments on the mortgage on the rental home, and make no more payments on the timeshare.

Bankruptcy has indeed been the key to a fresh start and a second chance.

1. We had a lady who owed over $50,000 in credit card and collection agency debt. The plan of reorganization reduced her monthly payments to $280 per month for 36 months with the balance being wiped out.
2. We had a person with little income who had a gambling problem and over $150,000 in credit card debt. The whole credit card debt was wiped out and the person got a fresh start.
3. We had a person who was $25,000 in arrears on the mortgage and and owed thousands of dollars on other debts. We were able to provide for virtually no payments on the other debt and put him on a monthly Chapter 13 payment plan of $520 plus the regular mortgage payment.
4. We had a person whose car was repossessed. We were able to get the car back, lower the payments and pay back the balance over a longer period of time.
5. We had a person with over $150,000 in credit card debts and monthly payments of over $1,500 per month. We were able to have a Chapter 13 plan approved which lowered those payments to $595 per month for 36 months. After 36 months any balance owing is discharged and never repaid.
6. We had a person with an I.R.S. problem in which he owed the I.R.S. over $55,000 in delinquent taxes. We were able to reduce his payment from over $1200 per month to $750 per month for 36 months. At the end of the 36 months, the remaining balance owed to the I..R.S. is wiped out.
7. We had a person whose home was scheduled for Sheriff Sale and who was over $17,000 in arrears on the mortgage. We were able to stop the Sheriff Sale and spread out the $17,000 which was in arrears, to be paid over 5 years. The person continues to pay the regular mortgage to the mortgage company, plus a little more than $400 per month to the Chapter 13 Trustee.
8. We had a person with a $20,000 judgment against him whose driver’s license had been suspended for being involved in an auto accident and not having any auto insurance. We were able to get the auto accident judgment wiped out and discharged by the bankruptcy. The person’s driver’s license was then able to be reinstated.
9. We had a person behind on the mortgage, the car payments, the credit cards and the utility bills. We were able to stop any foreclosure on the home, any repossession of the car, get the utility bills reset to 0, allow the current payments to resume and get 5 years to pay back the mortgage arrears and automobile arrears, with the credit cards and bank loans and utility bills only being paid back pennies on the dollar.
10. We were able to get the mortgage company to issue a new mortgage at a reduced rate for a person who was over $50,000 in arrears on the mortgage. The car payments were also reduced. The credit card bills are being paid virtually nothing.