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Law Office of James Keenan

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Sacramento Bankruptcy & Debt Relief Attorney

Get news, tips and information about bankruptcy filing and debt relief/elimination in Sacramento

Fast Financial Fix

Fast financial fix sounds like a catch-phrase for a scam. It can be. But there are options out there that allow you to fix your finances. And they can be fixed fast. Bankruptcy is one such option. And bankruptcy is far from a scam. It is a conservative legal undertaking to eliminate your debt. Normally bankruptcy is a last resort for consumers. But...

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Credit Report Accuracy

Credit report accuracy may not be that accurate. Consumers often rely on credit reports and scores to establish credit. Mortgages, car loans and credit card accounts are some of the more common examples or creditors who look to consumers' credit scores to extend credit. The better the credit score of potential creditors, the more likely loans will ...

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Bankruptcy Debt Elimination

Bankruptcy Debt Elimination

Get out of debt.  Now!  A recent CNBC news story cited credit card interest and fees topped a hundred billion dollars this past year.  That's a lot.  And this number is growing.  Bankruptcy debt elimination can be a way out.

Bankruptcy debt elimination is the end-result of a bankruptcy filing.  The bankruptcy term is discharge.  A discharge is a court order eliminating your debt.  Attempting to collect on a discharged debt is against the law.  Creditors can no longer collect following a bankruptcy filing and discharge.  It is the purpose of filing bankruptcy, whether here in Sacramento or elsewhere.

Consumers often file for bankruptcy seeking relief from their creditors.  Bankruptcy does this.  As soon as a bankruptcy is filed, an automatic stay goes into effect immediately.  This means that creditors are stayed, or legally blocked, from attempting to collect upon the debt. Bankruptcy debt elimination results when the bankruptcy case completes.

Debt is expensive.  Too expensive.  When the cost of debt exceeds consumer budgets, bankruptcy is a way out.  Paying back debt is always an option.  But only for those who can afford to do so.  Most who file for bankruptcy can't.  It is why they file for bankruptcy.  The cost of debt is increasing.  The average interest rate on credit card debt is around 17%.  Debt can quickly snowball with such costs.  Bankruptcy debt elimination may be the only option at some point.  But it is a good one.

People are often reluctant to file bankruptcy.  If they can afford their debt, they should be.  For those, though, who can't financially mange their debt, bankruptcy is a solution.  Though bankruptcy is a negative on credit, bankruptcy debt elimination is a positive.  The question, then, is when does the elimination of debt through bankruptcy offset the negative of filing bankruptcy?  The answer is different for everyone.  Contact me for a free consultation to find where you stand financially.  You may be better off!

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Sacramento Bankruptcy Debt Relief

Sacramento Bankruptcy Debt Relief

Sacramento bankruptcy debt relief is needed for many in the region. The economy in Sacramento is better since the great recession. But it is not back. Not even close. Those living and working in Sacramento know this.

Debt, though, is back. Consumer debt has risen far beyond the economy has grown. It is a recipe for Sacramento bankruptcy debt relief. When debt peaked in 2007-2008, the economy could support it. But that changed. The economy tanked. Along with it went the ability to repay that debt. The same scenario may be reemerging. But in a different dimension.

Debt is growing again. But the economy hasn’t kept pace. At least enough to support the growing debt. Debt is increasing. The economy is not keeping up with the debt. Financial problems are on the horizon. So is more debt. Financial relief is increasingly needed. So is Sacramento bankruptcy debt relief.

Bankruptcy offers debt relief by eliminating debt. It’s that simple. Sacramento bankruptcy debt relief is a solution to get a fresh financial start. This Sacramento Bee story pointed out a state legislator’s personal need to avoid mounting negative equity in her home. Bankruptcy can do this.

Bankruptcy can eliminate most forms of debt. Credit card debt can be discharged. Car repossessions cancelled. Medical bills cleared. Income taxes erased. Lines of credit, payday loans and mortgages are all subject to discharge through bankruptcy. Bankruptcy is a powerful financial tool.

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How Will Bankruptcy Affect Your Credit?

How Will Bankruptcy Affect Your Credit?

Every case is different. But by the time potential clients consider filing bankruptcy, their credit is already shot. By eliminating your debt through a bankruptcy, your debt-to-income ratio improves dramatically and instantly and, thus, improving your credit.

Consultations to consider your credit impact are always free.

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Improved Credit

Improved Credit

Did you know bankruptcy can improve your credit? It can. Credit scores certainly consider a bankruptcy filing but, even more so, your credit is evaluated by your existing debt. By eliminating your debt through bankruptcy, your credit score can actually improve! 

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