Massachusetts  Bankruptcy Center  is  a  bankruptcy  law  firm, which  aims  to provide full -time bankruptcy services. The  learned  and  experienced  law  professionals who are experts in Massachusetts  bankruptcy  will  guide  you  with  any kind of legal assistance  and any help with new bankruptcy laws that you may have in case you suffer from bankruptcy.

There  are  different types  of  bankruptcy in  Massachusetts  of  which the  significant are  those  of  Chapter-7 (which means liquidation) and  Chapter-13 (which means debt adjustment).

A  Massachusetts bankruptcy attorney will help you by guiding you about the new bankruptcy laws and how to file for bankruptcy cases.  In short, they will guide you with all sorts of information regarding bankruptcy debt, bankruptcy laws, new bankruptcy laws in effect, foreclosure, credit card debt, how to file for bankruptcy, and other general bankruptcy advice that you may need.

However, there are different kinds of bankruptcy laws for different bankruptcy cases like business bankruptcy, online bankruptcy, consumer bankruptcy etc. Their bankruptcy attorneys will give you the important bankruptcy advice and tell you about the options available for filing for bankruptcy.

If you are facing foreclosure, then you can also seek help from them. They  have  a group  of  experienced  lawyers  who  are  specialized  in  bankruptcy foreclosures.

Apart  from  these,  bankruptcy  lawyers  in  Massachusetts  Bankruptcy center  also helps  in  other  sorts  of  problems including bankruptcy debt as well.  If you have any sort of bankruptcy questions regarding what is bankruptcy, bankruptcy student loan,

Bankruptcy in general, etc. please feel free to contact them at any time. Recently, they are also specializing in credit card debt.

Remember, Massachusetts  Bankruptcy Center is your one-stop shop for any kind of Massachusetts  Bankruptcy related query.

If you have any problem just log on ::

http://massachusettsbankruptcycenter.com

There are several possible solutions to your credit card debt. Which solution you choose will depend on your situation and how thorough you research the possibilities. Options include loans, debt settlement, debt management, and bankruptcy.

One possibility you might have considered when seeking help with paying your credit card debt is some type of loan. There are two types of loans that could be used: a home equity loan or a debt consolidation loan. Home equity loans are taken against the equity of your home. Because your house is used as collateral, you will be able to get a better interest rate. This is also risky, because now you could lose your home if you default on the loan. A debt consolidation loan does not require you to have a home, and it will usually carry a higher interest rate. Both types of loans require good credit scores to even qualify, let alone get good rates. Also, it is rarely a good idea to get new debt to pay off other types of debt.

Debt settlement is a much different option. Debt settlement can sound very appealing because settlement companies will promise to get you a great reduction of your debt. They will also charge you large fees which include a monthly fee until you are able to pay the settlement amount in full. Once you have gone through with it, you will have to pay taxes on the amount of forgiven debt. Often, fees and taxes will make up for any gain you received by settling your debt. On top of that, your credit score will likely suffer because of debt settlement.

Unlike a loan, a debt management plan allows you to keep your debt with your original creditors. Unlike debt settlement, a debt management plan provides you with the opportunity to pay off your debt in full, therefore not having to pay additional taxes. The way a debt management plan works is that the debt management company works with your creditors to reduce the interest and fees that you owe. More of your monthly payment will be going towards paying off your debt. You will pay one monthly payment to the debt management company who will then distribute your money in a way that will benefit you. You will be able to watch your balances diminish as you diligently make your payments. This will provide you with the accountability and support you need to pay off that pesky credit card debt.

A final option for credit card debt is bankruptcy. This option is not for everyone as only the most severe situations qualify. Also, a bankruptcy will remain on your credit score for 7 years, disqualifying you in many cases from future purchases on credit. If you think that bankruptcy is your only option, consider talking to a credit counselor before you talk to an attorney to see if there might be a better way to work on your credit card debt.

If these options leave you confused or overwhelmed, talk to an accredited credit counselor. They can walk you through these possibilities and make recommendations based on your situation. Being informed will help you make the best decision.

There are several possible solutions to your credit card debt. Which solution you choose will depend on your situation and how thorough you research the possibilities. Options include loans, debt settlement, debt management, and bankruptcy.

One possibility you might have considered when seeking help with paying your credit card debt is some type of loan. There are two types of loans that could be used: a home equity loan or a debt consolidation loan. Home equity loans are taken against the equity of your home. Because your house is used as collateral, you will be able to get a better interest rate. This is also risky, because now you could lose your home if you default on the loan. A debt consolidation loan does not require you to have a home, and it will usually carry a higher interest rate. Both types of loans require good credit scores to even qualify, let alone get good rates. Also, it is rarely a good idea to get new debt to pay off other types of debt.

Debt settlement is a much different option. Debt settlement can sound very appealing because settlement companies will promise to get you a great reduction of your debt. They will also charge you large fees which include a monthly fee until you are able to pay the settlement amount in full. Once you have gone through with it, you will have to pay taxes on the amount of forgiven debt. Often, fees and taxes will make up for any gain you received by settling your debt. On top of that, your credit score will likely suffer because of debt settlement.

Unlike a loan, a debt management plan allows you to keep your debt with your original creditors. Unlike debt settlement, a debt management plan provides you with the opportunity to pay off your debt in full, therefore not having to pay additional taxes. The way a debt management plan works is that the debt management company works with your creditors to reduce the interest and fees that you owe. More of your monthly payment will be going towards paying off your debt. You will pay one monthly payment to the debt management company who will then distribute your money in a way that will benefit you. You will be able to watch your balances diminish as you diligently make your payments. This will provide you with the accountability and support you need to pay off that pesky credit card debt.

A final option for credit card debt is bankruptcy. This option is not for everyone as only the most severe situations qualify. Also, a bankruptcy will remain on your credit score for 7 years, disqualifying you in many cases from future purchases on credit. If you think that bankruptcy is your only option, consider talking to a credit counselor before you talk to an attorney to see if there might be a better way to work on your credit card debt.

If these options leave you confused or overwhelmed, talk to an accredited credit counselor. They can walk you through these possibilities and make recommendations based on your situation. Being informed will help you make the best decision.

While some consumers may consider filing for bankruptcy without an attorney, respected Los Angeles, California bankruptcy attorney Shemtoub of the Wilshire Law Group advises strongly against it. Shemtoub has seen too many instances where individuals who try to “do it alone” end up putting themselves in a worse financial situation than they were in before bankruptcy. In other words, they accomplish the exact opposite of their bankruptcy’s goal.

The Dangers of Filing for Bankruptcy without an Attorney

Consumers who get in over their heads with debt and find themselves facing bankruptcy may be tempted into filing for bankruptcy without an attorney. After all, with all the money they already owe, and with the option to file without an attorney, why not avoid hefty legal fees and file without an attorney?

Nothing could be a worse idea than filing for bankruptcy without an attorney. US bankruptcy laws are complex; the bankruptcy court main website expressly states that “While individuals can file a bankruptcy case without an attorney… it is extremely difficult to do it successfully” (Source: USCourts.gov). The same website goes on to state:

“It is very important that a bankruptcy case be filed and handled correctly. The rules are very technical, and a misstep may affect a debtor’s rights… hiring a competent attorney is strongly recommended.”

As if the federal laws governing bankruptcy weren’t complicated enough, there are also all the additional state laws. A bankruptcy lawyer in California, for example, has to stay up-to-date on all the latest bankruptcy statutes specific to the state. It’s easy to see how, without an experienced California bankruptcy lawyer, consumers can easily find themselves confused, overwhelmed, and making mistakes that cost them a fortune.

About  Shemtoub and the Wilshire Law Group

Shemtoub and the other bankruptcy attorneys in the Wilshire Law Group have years of experience guiding consumers and small businesses through the challenging process of bankruptcy. The testimonials posted onto the Wilshire Law Group’s website bears witness to their great success with countless clients in Southern California.

Shemtoub is a bankruptcy attorney in California who stands by his clients throughout the entire process of bankruptcy, even through bankruptcy’s aftermath. The same holds true for each of the lawyers in the Wilshire Law Group. From the free consultation at the beginning of the process, to the bankruptcy filing itself, to post-bankruptcy educational seminars designed to help consumers repair their credit and their financial lives, the Wilshire Law Group is a firm that is clearly dedicated to its clients.

The Wilshire Law Group also makes one unique promise to all clients and potential clients that makes them stand apart from the crowd: their guarantee is to return all phone calls within twenty-four hours. The twenty-four hour phone call promise shows that every client, no matter how big or how small, is valued at the Wilshire Law Group.

You finally ridded yourself of all your credit card debts and canceled your credit cards for good. Great! However, you overlooked one important thing — you’ll need a credit card again at some point in your life. You’ll either need to make a purchase online, pay a bill over the phone, have alternate means to a bank account for options such as employer direct deposit, or you’ll just rather use a plastic card opposed to cash because it is a more protective way to carry money.

It’s always a good feeling when you clear your debt, either through the preferred method of paying off your debts or the negative method of bankruptcy. However you do so, it always feels good to get rid of that burden and start fresh. Many in these situations find themselves seeking credit cards shortly after they have cleared their debt — mostly in fear that without having at least one active credit card they are negatively impacting their credit by showing no credit history.

Being that you just cleared your debt, you are most likely being more cautious and not trying to find a card which has high fees associated with it. Additionally, if you filed bankruptcy then you do not have many options available to you and it is more important that you get a credit card which will not put you back in debt, but will allow you to rebuild your credit in a positive and efficient way. The best option for those who have recently cleared their debt is to apply for reloadable prepaid credit cards.

You are probably asking, what are reloadable prepaid credit cards? These types of credit cards are considered secured credit cards because you load the credit card with your own money. Loading the credit card with your own money will make the loan amount secured because you are not actually paying any of the money back. Instead you are using your own money. In turn this will ultimately make the debt on the credit card secured and there will be no fees, such as late fees, overdraft fees, or interest fees associated with the use of the credit card.

Reloadable prepaid credit cards can put you back into the financial race without putting you in debt. Many prepaid credit card offers provide credit builder services, this typically mean that your use of the credit card will be reported to the 3 major credit bureaus. Since you will only be allowed to spend the balance you loaded onto the card and be required to only pay a low monthly maintenance charge for the card (usually less than $10), then it is highly likely your usage of the card will be positively reported to the credit bureaus and will positively impact your credit history and scoring.

Applying for reloadable prepaid credit cards is the best option for those who have cleared their debt and need a credit card for credit rebuilding purposes. If you have bad credit, currently got out of debt, recently filed bankruptcy, or need a traditional credit card alternative then reloadable prepaid credit cards are just for you. In most cases, prepaid credit card offers are guaranteed approval. As more and more people come to the realization that living beyond their means is recipe for financial disaster they will seek alternative options for carrying plastic while remaining debt free, prepaid credit cards is a way to do just that. It’s time you apply for your reloadable prepaid credit card!