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Posts Tagged ‘Orange County Chapter 7’

The best form of Loan Modification may not be a Loan Modification at all! Part 2 of 2: Eliminating Junior Liens

Friday, May 13th, 2011

Here is how it works: years ago, when home values were at their height, home owners used the equity in their home(s) to borrow against. They took out second mortgages, third mortgages, and even fourth mortgages. Those mortgages were secured by the equity in the home. But today, one in four California homeowners is upside down (where the liens against a property exceed the value of the property).  In many cases, debtors can completely eliminate junior liens either in a Chapter 13 or Chapter 11 Bankruptcy!

For most individuals and families, eliminating their junior mortgages and creating an affordable three to five year repayment plan on their debt is better than anything possibly achieved through a loan modification. Consumers are able to get caught up on delinquent mortgage payments and eliminate their junior mortgages upon the completion of their Chapter 11 or 13 plan. Consumers then walk away from their plan, free of all unsecured debts and their second mortgages in some cases. It truly represents a fresh start.

The great news is that by using this plan, it is possible to stay in your home while paying only a percentage of your unsecured debt even though you may be making less than you did several years ago.

The only shame is that most people who qualify for this type of bankruptcy don’t even know it exists!

To read the full story click here

Bankruptcy and the FUD Factor

Wednesday, May 11th, 2011

Photo by Public Affairs at Missouri State University

Do you get extremely anxious when you talk or even think about money? Are your bills piled so high that they sometimes spill over? And, when you do open those much feared envelopes, do you just peek at the minimum payment line? Like millions of others, you may be suffering from the FUD Factor, FUD standing for Fear, Uncertainty, and Doubt. Most psychologists will agree that this can lead to financial denial.

Denial is a disorder that plagues many Americans and leaves them avoiding and fearing anything having to do with finances. As one would suspect, the repercussions can be significant. Your bills, creditor calls, and debt will continue to grow. You may be optimistic and think everything will eventually work itself out, but that’s just the denial speaking.

There are various circumstances that could lead to having financial denial. If you were brought up in a background where talking about money was considered inappropriate, you will most likely feel uncomfortable or anxious when speaking later in life about it. On the other hand, those that grew up watching their parents argue over money will probably be fearful of the topic altogether.

Financial denial can lead to devastating outcomes, including divorce and even suicide.  It is crucial that you address the issue before any of these effects occur.  Bankruptcy, Debt Negotiation, and Tax Negotiation can help. That’s what we do. We help clients understand not only their situation, but more importantly, their options. We are here to help our clients find a path toward financial relief and a fresh start. By minimizing and wiping out their debt, most clients are able to focus on getting their disorder controlled and their financial lives in order.

Highest Bankruptcy Filings in More than 5 Years

Friday, April 29th, 2011

In Orange County the first quarter of the year ended with a 65 month high in Bankruptcy filings.1,881 individuals and businesses filed for Bankruptcy Protection making it the highest one-month total since the Bankruptcy law was changed in 2005. This represented a 10.1% year over year increase and the highest number of Bankruptcy filings for the month in 11 years as reported by the U.S. Federal Bankruptcy Court.

Source: U.S. Bankruptcy Court, Central District California

Although nationally, the increase of Bankruptcy filings seems to be slowing, the bottom line is that it continues to increase. The economic recovery here in Orange County, Los Angeles, and the Inland Empire will remain extremely slow until unemployment improves and the housing market gets upward traction…neither of which will likely happen soon. Until then, Chapter 7, Chapter 11, and Chapter 13 Bankruptcy will remain among the most viable means for individual economic recovery. For many, Bankruptcy is an excellent wealth management strategy. Doan Law Firm has helped more than 25,000 people remove over one billion dollars of toxic debt. We have crafted an ever increasing number of Chapter 13 plans to save clients’ homes. And, we help all of our clients get a fresh financial start.

For more on this visit OC Metro’s Metro Minute video on the topic.

Experience matters

Tuesday, January 11th, 2011

Experience matters. So too does compassion and quality client care. We can tell you why, but it may be better and more insightful for you to hear it from a client.


“When we looked you up on your website we appreciated the Bible verses and immediately felt you were right for us.
Our case was handled by an excellent attorney, Alexa Rodriguez, from beginning to end with an exceptional bankruptcy team that dealt with other issues. Everyone we dealt with at Doan Law Firm was extremely professional, courteous, knowledgeable and efficient. We cannot speak more highly of your firm! From what I could tell, your firm runs like a well oiled machine! Excellent!!!!!
While filing BK is one of the most stressful things a person can go through, if anyone is considering filing for BK I would, without a doubt, recommend Doan Law Firm to them. The hardest part is making that initial call.
When we attended the Creditor’s Hearing, we noticed that Doan Law Firm, attended by attorney Alexa Rodriguez, was the only attorney present that had a clear understanding of all of her clients files and was familiar with them and had all of the proper documentation with her. It was unfortunate that other debtors scheduled that day were being represented by “specially appearing” attorneys that were fumbling through the hearing and did not know what they were doing or didn’t have enough information/knowledge to assist their client. After witnessing this, my husband and I were so glad we decided to have Doan Law Firm handle our bankruptcy. Again, Doan Law Firm, Alexa Rodriguez and your bankruptcy team did an EXCELLENT job and my husband and I were very happy with your representation. Thank you, thank you, thank you!!!!!”

“Months of Anxiety Ended in a Brief Five Minutes”

Monday, December 13th, 2010

Not to blow our own horn, but we receive accolades from clients on an almost daily basis.  Client feedback is extremely important to us and a recent letter says it all:

“Dear Sara and Tom,

Thank you so much for your guidance, assistance, and patience through this Bankruptcy process.  I was stunned to discover that months of anxiety ended in a brief five minutes.  You are both deeply appreciated.”

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    Laguna Hills Bankruptcy
    25401 Cabot Rd.
    Suite 113
    Laguna Hills, CA 92653
    Call 888-362-6529

    Santa Ana Bankruptcy
    930 West Seventeenth St.
    Suite C
    Santa Ana, CA 92706
    Call 714-795-3536

    Corona Bankruptcy
    1411 Rimpau Ave.
    Suite 108
    Corona, CA 92879
    Call 909-708-4597

    Moreno Valley Bankruptcy
    24490 Sunnymead Blvd.
    Suite 101
    Moreno Valley, CA 92553
    Call 951-579-4756

    Watsonville Bankruptcy
    444 Airport Blvd.
    Suite 109
    Watsonville, CA 95076
    Call 888-362-6529

    Oceanside Bankruptcy
    1930 S Coast Hwy
    Suite 206
    Oceanside, CA 92054
    Call 760-450-3333

    Chula Vista Bankruptcy
    333 H Street
    Suite 5000
    Chula Vista, CA 91910
    Call 619-500-6535

    Escondido Bankruptcy
    320 East 2nd Ave.
    Suite 108
    Escondido, CA 92025
    Call 760-746-4476

    La Mesa Bankruptcy
    4817 Palm Ave.
    Suite I
    La Mesa, CA 91942
    Call 619-462-362

    San Diego Bankruptcy
    185 West F St
    Suite 100
    San Diego, CA 92101
    Call 619-234-3626