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Posts Tagged ‘financial freedom’

Chapter 7 Bankruptcy: From Financial Bondage to Financial Freedom

Tuesday, May 31st, 2011

The following story is an unedited letter from a client detailing the difference that bankruptcy, and Doan Law Firm in particular, made in her life. She asked that we not publish her name.

When in debt and facing the potential of bankruptcy, we often feel like slaves to our debtor. We feel this because most likely we are.

If we are unable to pay on time, we are charged more.  If we ignore the creditor, we are tainted with marks to a credit score while being charged more fees.

After years of avoiding creditors, my husband and I called Doan Law Firm. I came into their office feeling defeated and guilty. I knew those feeling were a direct result from the shame I felt after being sued not once, but twice, for not paying creditors. And the truth is I felt we deserved being sued, since we were unable to repay the debt.

After having excellent credit and being debt free, for years, my husband was in a bad accident on the job. He was not only hospitalized, but terminated from his job while laying in the ER.

When it was time to keep the lights on, I was grateful we had good credit. I figured it would allow us to make up the the difference in income we had lost from his job. But when my husband fell into a deep depression during a bad case of post traumatic stress syndrome, I felt that paying bills with credit cards, instead of having my husband worry about the finances, would be best. This ended up being my biggest regret.

Time passed so quickly and all the 0% cards soon came back at 32% and within two years we were way over our heads.

As devout Christians, I knew the debt was a sin.  First, I was not only unable to keep my word and repay the creditors, but now money (or the lack of money) had become our biggest worry! I know to worry is the expectation that God is going to fail me, yet I operated in fear trying to fix things financially the wrong way. It was wrong to ignore the creditors while I was praying for some miraculous pay off that never arrived.

We didn’t want to file bankruptcy; we wanted to pay everyone back! Our excuse not to file was a mere reflection of the pride we carried.

After speaking to a rep at Doan Law Firm, I was told that I only needed a penny to remind me to trust in God. After that phone conversation I felt God tug on my heart. I hung up with that rep and that afternoon is when I fell to my knees in repentance. I didn’t realize how much I needed to repent from. I had to repent from mismanaging money, the spirit of entitlement ( I wanted to keep living the same way I did before the accident), I had to repent from lying ( I spent months lying to creditors telling them I would call them back and never did),  and from the spirit of pride which kept me from getting help sooner. I fell on my face asking God to forgive me for being in debt, regardless of how I got there. I hadn’t realized how much was attached to the debt and how much it was blocking me from growing spiritually.

We had been tithing for years and still weren’t able to find financial overflow or freedom from living pay check to pay check.

It finally all made sense to me when I repented right before paying for our bankruptcy. God removed our pride and sense of entitlement, and He reminded us during this process how important it is to live right in every area of our life, and this included in our finances.

Recently, after we have arrived to a new season in our walk with the Lord, I lost one of my biggest accounts. I was worried, but the week we repented I saw a miracle. I picked up 3 new accounts, which tripled my income. I praise God because his love and mercy never failed us. He forgave us. In our case we needed to repent in order for the windows of heaven to release all that he had in store for us. It’s amazing all the goodness that comes from walking in obedience!

“Thank you Doan Law Firm for showing us love and compassion; we really needed it.”

It’s Overwhelming For Everyone

Monday, November 15th, 2010

If you find your financial situation overwhelming, you’re not alone.  I spoke with a new client last week, I’ll call her Cathy, who was literally in tears.  She was in tears over her financial situation and later shed tears of relief at finding someone she feels comfortable with and can trust.

Cathy has run a successful business for over 10 years and as the economy changed, she began to accumulate debt.   When she came to see me,  her minimum monthly credit card payment was over $3,000.  It was literally strangling her business.  She couldn’t buy inventory and the credit card overhead was sucking up every dollar she made.  Cathy told me she needs to retool her business, but the financial stress is sapping up her energy and creativity.  It’s a challenge to get out of bed each day.

I tell you about Cathy so you know you are not alone.  Financial stress is real and debilitating.  At Doan Law Firm we understand and we can guide you to a place of financial tranquility.

Creditor Harassment, It’s Not Just for Breakfast Anymore

Friday, October 15th, 2010

Does this sound like you or anyone you know:  receiving calls from a creditor 22 times a day, receiving calls late at night, hearing a creditor called your neighbors, receiving a demand statement every single day for a month, or a creditor calling every hour on the hour at work?  It’s no longer something that just happens to someone else.  Almost every single person who walks into the Doan Law Firm is on the hit list of at least one creditor for whom harassing them has been taken to a ridiculous level.

The Doan Law firm is unique in that it has created a Creditor Abuse Prevention department with the specific charge of forcing creditors near and far, big and small to comply with the law.  The result is we take the heat off you.  We stand in front of the bullet.

Using the FDCPA (Fair Debt Collection Practices Act) as well as the California version, we help you give immediate notice to all of your creditors that you are represented by an attorney and that you may not be contacted.  The creditor can no longer contact you, they must contact us.  This notification has one of two effects, either the creditors stop contacting you and that’s great.  The other result is they walk through the law and we sue them on your behalf.  This results in a nice nest egg for many of our clients courtesy of their law-breaking creditors.  Either way it’s a win.

Credit Card WHYs

Thursday, August 5th, 2010

I’ve been asked more than once WHY credit cards do what they do.

  • Why do they raise interest rates on clients that have been paying faithfully for years?
  • Why won’t they work with me?
  • Why do they call me every 3 minutes when I’ve paid all I can?
  • Why do they send my dead dog credit card offers?
  • Why are they sending me new card offers in the mail when they know I can’t pay?

After meeting with literally tens of thousands of clients as a bankruptcy law firm, putting together our over 200 years of bankruptcy law experience and reading voraciously on the subject, our answer to WHY is:  We have no idea.

If the credit card companies asked our opinion, we’d tell them that many people would eat cat food to be able to pay them if only they’d stop raising the rate and minimum payment.  Every one of our bankruptcy attorneys would tell them  if they worked with their customers in these tough economic times it would be a win-win .  We’d tell them that the multi-million dollar bailout of our tax money means they have a moral obligation to work toward a solution for customers that have lost jobs, suffered a medical or family crisis.  Our pleas fall on deaf corporate ears.

If credit card companies acted responsibly and not like 3-year-olds in a sand box with only one shovel, we could perhaps guess the answer to WHY.  Until then, bankruptcy remains a very viable and wise response to out of control credit card companies.

The G20 Tackles Global Financial Crisis – You Can Tackle Yours

Wednesday, July 14th, 2010

One of the major themes of the recent G20 held in Toronto, Canada was the worldwide financial crisis.  The G20 endorsed the goal of the richest nations, including the US, of cutting their deficits in half within 3 years.

In their closing statement, the G20 leaders recognized that serious challenges remain in the world’s economic recovery.  The leaders said that growth is occurring, but that recovery is “uneven and fragile,” and unemployment in many countries remains at unacceptable levels.  The G20 leaders said to sustain recovery, nations must follow existing stimulus plans and work to create conditions for “robust private demand”.

The parallels between the global financial crisis and personal financial crisis’ are clear.  At a meeting around the dining room table, we acknowledge we’re in crisis.  Cutting our deficits would change our entire world and would restore peace to our lives and our families.  We can see a faint light at the end of the tunnel.

The good news is that we have one tool available that the G20 nations don’t – bankruptcy.  Our family can receive a fresh start.  We can erase past choices and make new ones.  We can take the wisdom we’ve acquired and put ourselves in the best position to exceed this year and beyond.

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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

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

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    444 Airport Blvd.
    Suite 109
    Watsonville, CA 95076
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    Oceanside Bankruptcy
    1930 S Coast Hwy
    Suite 206
    Oceanside, CA 92054
    Call 760-450-3333

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

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

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

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