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Archive for the ‘General Bankruptcy’ Category

Your Credit Score: When to Stop Fighting the Rapids

Tuesday, May 24th, 2011

“But won’t bankruptcy destroy my credit?!” We have heard it time and time again and are sure you have had that thought once or twice, especially if you are contemplating filing. The truth is bankruptcy actually acts as a repair for your credit.

Think about it, if you are having thoughts of filing bankruptcy, you probably aren’t in the best of financial situations at the moment anyways. The piling of bills and never ending debt aren’t looking so good on your credit report. If you’re trying to repair your credit score without bankruptcy, it may be like trying to swim up a white water rapid. No matter how hard you swim, the waves are too strong and will only push you back.

All of your bills and large amount of debt will keep pushing you back from achieving the credit score you want. Instead of fighting the rapids, you should think of exiting the river and walking up the stream.

With Bankruptcy, you discharge all of your stressful debt and are given a fresh start. Yes, your credit score will decrease when you initially file, but think of how easy it will be to reestablish an excellent credit score without having all of the baggage on you. You can walk up that river with ease; nothing will push or hold you back.

You can achieve that credit score you once had or always dreamed of once you rid yourself of everything that is holding you back and keeping you from what you financially desire.

Bankruptcy Law: We Practice What We Teach!

Tuesday, May 10th, 2011

Doan Law Firm’s experience and expertise in Bankruptcy law was called upon by LawReviewCle to lead a Chapter 7 and Chapter 13 CLE (Continuing Legal Education) workshops in Riverside and Santa Ana. The nonprofit organization seeks and selects attorneys who represent the best in their area of practice. Once selected, they are asked to train other attorneys in their field to provide information on advanced legal practice and update their credentials.

In April, Doan Law Firm managing attorney, Anthony Vigil, conducted a workshop for 30 legal professionals on both Chapter 7 and Chapter 13 at the historic Mission Inn in Riverside, California. His presentation included a step-by-step workshop oriented class on filling out Bankruptcy Petition forms and local Chapter 13 Plan forms in addition to nuances that arise from practicing in the Central Division of California. Later this month Mr. Vigil will conduct a similar workshop in Anaheim.

Vigil’s outstanding success as a bankruptcy attorney has furthered Doan Law Firm’s passion to help others and their ambition to maintain the highest level of excellence in the field of bankruptcy law.  Vigil’s donation of time to the CLE program aligns well with the Doan Difference™. At Doan Law Firm we continually try to raise the bar for Bankruptcy client care.

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.

Bankruptcy in California

Tuesday, April 26th, 2011


Chapter 7 and Chapter 13 Bankruptcy in California has risen substantially since 2005. With the recession and struggling economy, it is harder and harder for people to pay their debts. Last year the number of bankruptcies filed in the US hit a record high, 1.53 million. That equates to more bankruptcies than the entire decade of the 60’s!

As the U.S. reached new highs, California followed suit. In 2010, the Golden State filed 255,041 bankruptcies, which grew from the 206,000 in 2009 (Bankruptcy-Statistics.com). This rise in the number filing has been present throughout the last three years.

Although we have all been hopeful to see bankruptcies decrease this year, showing signs of a stronger economy, reports have been discouraging. California filed 17,007 bankruptcies in January, 2010 and 19,091 this January, 2011. The same rising numbers were calculated in February and March this year.

Until our unemployment improves and our economy begins to shows clear signs of recovery, Bankruptcy will remain both a viable solution and a wealth management strategy for millions more Americans struggling to make ends meet.

http://www.bankruptcy-statistics.com/

Student Loans: From Cap Toss to Capital Drain!

Wednesday, April 13th, 2011

Can you file for bankruptcy and rid yourself of those painful student loans? Many of us could only dream of having that freedom.

Unfortunately, under Federal Bankruptcy laws, student loans are usually non-dischargeable. This means that although you may be able to discharge most of your unsecured debts, student loans are not one of them.  In Chapter 7, Chapter 11, and Chapter 13 bankruptcy cases, the only time a student loan may be considered dischargeable is if it causes the debtor “undue hardships,” which is often difficult to prove. If you have lost the ability to work due to disability and are therefore unable to use your acquired education, you may qualify.

Contact Doan Law Firm for more information and the specific answer pertaining to your case.

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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 95075
    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