Eight Years of Scratching & Clawing to keep from Drowning in Debt & Finally SomeRelief by Dennis Babiniec

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In 2005 over 42,000 bankruptcy cases were filed ahead of the imposition of The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.  However the economy worsened from 2005-2007 causing the situation to go from bad to worse for some people who had already filed bankruptcy and then found themselves unemployed or under employed or who incurred large unexpected medical expenses.  Some of these people have been fighting an uphill battle ever since.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 provides that at least 8 years must pass from the filing of a prior Chapter 7 case before a Chapter 7 case can be filed again.   Persons who filed a Chapter 7 bankruptcy in 2005 or earlier, may either already be eligible or soon will be eligible to file for chapter 7 again if necessary.  The decision to file bankrukptcy, expecially if someone has already filed before, must be made carefully.  The filing of Chapter 7 bankruptcy is carried on one's credit report for up to 10 years and so it is possible that if a second bankruptcy case is filed within 10 years that the person would have 2 bankruptcies showing on their credit report and that would substantially limit their credit opportunities.

However those who are having their wages or bank accounts garnished or in danger of garnishment by their creditors may be looking for protection from debt.  Filing bankruptcy would prevent almost all creditors from collecting their debts (domestic support obligations excepted).  If you are interested in finding out your options, I offer a free intial consultation just Call 303-451-9110 and I would be glad to help you out.

Dennis H. Babiniec
Attorney at law

posted: May 14, 2013 - Dennis Babiniec - Bankruptcy Lawyer - Blog
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