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Posts Tagged ‘financial freedom’

“What the caterpillar calls the end of the world, the master calls a butterfly.” ~Richard Bach

Friday, July 2nd, 2010

Although we can’t know for sure, it’s a safe bet that the process of metamorphosis is scary for a caterpillar.  One day he is happily crawling through tree branches chomping on leaves as he goes and the next he’s ensconced in a dark confining cocoon feeling sleepy.  Of course we humans know the end of the story and it’s a happy one.  A short time later that same caterpillar will be soaring through the sky, alighting on flowers and sipping sweet nectar.

Caterpillars are not alone; a financial metamorphosis can feel just as scary to humans.  We understand that crawling on your belly and eating leaves simply can’t be a sustainable condition; and, that you may find visualizing yourself soaring through the air difficult at this point.  At Doan Law Firm, Orange County Bankruptcy lawyers can help you see the future clearly, allowing you to move toward it with confidence…spreading your wings and sipping sweet nectar all the way.

Another Sign It’s Time to Take Your Financial Life into Your Own Hands

Wednesday, June 30th, 2010

Late last week the federal government failed to approve an extension of unemployment benefits leaving Americans to finish their current tier and then cutting them loose.  This is devastating news to hundreds of thousands of families.  If you are one of those families, how should you respond?

Keep in mind that you are your family’s best resource.  You have the most drive, the most knowledge and the most desire of anyone in the world for your family.  You couldn’t hire anyone better.  With this latest decision Congress has signaled it’s time to take a cold, hard look at reality and form a go-forward plan: one that may include Los Angeles bankruptcy attorneys.

When times are tight, money should only leave your house if it serves a fundamental purpose to your family.  Does your car and its payment make sense?  How about the house; is that a decision you’d make again?  Credit card payments clearly don’t do a thing for your family – that’s why they squawk the loudest, call the most frequently and sue aggressively.

In light of the new economic rules, you can make new choices in Los Angeles Chapter 13 and Los Angeles Chapter 7 bankruptcy.  Don’t be stuck laboring under decisions made when the rules of the game were different for everyone.  Everyone, even multi-national banks are restructuring, so should you.

Bankruptcy: A Financial Do-Over

Tuesday, June 22nd, 2010

I sit across from a lot of people that never expected to be in my Orange County bankruptcy lawyer office discussing financial hardship.  The great majority of my clients enjoyed gold star credit and stellar earning power not very long ago.  The downward slide of the economy has affected every segment of society.  Crippling credit card debt, upside down home mortgages and wage garnishments are commonplace and affect even the previously immune.

Bankruptcy is a financial do-over.  Professional tennis players get 2 chances to make the serve.  There are 3 strikes before a batter is out and cries of “do-ver” permeate every playground from handball to hopscotch.  There’s no shame in hitting the reset button and starting again.  In fact, it’s often the wisest thing you can do and the only way to really move forward.   In the do-over you have all the collected wisdom of the first go-round at your disposal and that’s exactly the design of bankruptcy.

Financial Freedom, it really is obtainable.

Monday, June 14th, 2010

Once you take the first step toward a fresh start, the relief experienced is almost immediate:

“We have already been answering our home phone again which is nice and giving your contact information to rude and some very nice creditors — which is a relief.

Citibank, which we owe over $20k, was extremely nice and told me I could apply again once we are back our feet which cracked us up laughing. Pretty much said don’t worry about it [the bankruptcy] and think of us first as we liked you as a 25 year customer. Wow, don’t they ever learn? I know we have, I don’t plan to use credit cards ever again unless I can pay them in full each month. The beauty is debit visa’s make them unnecessary these days.

Thanks so much, I feel we are in great hands.


Many Los Angeles bankruptcy lawyers forget they are in the people business, this isn’t just numbers, laws and paperwork, these are people’s lives.  At Doan Law Firm, we always

BANKRUPTCY AND IMMIGRATION: Green Card To Financial Freedom!

Wednesday, April 21st, 2010

It’s no big secret that being an American citizen has it perks – you can vote, apply for government jobs, become eligible for certain public benefits, run for political office….. Ok, so maybe you are not planning on running for Governor anytime soon, but you can’t help but wonder if your non-citizen status will prevent you from filing for bankruptcy. Not a citizen? Not a problem! At my Orange County bankruptcy law firm, I often encounter clients that ask me whether bankruptcy is exclusively reserved for United States citizens. The truth of the matter is that there is nothing in the Bankruptcy Code that forbids non-citizens from filing for bankruptcy. The Bankruptcy Code states that “…only a person that resides or has a domicile, a place of business, or property in the United States, or a municipality, may be a debtor…”. While a “person” is defined as an individual, partnership or corporation, there is nothing in the code that requires “persons” to be citizens.

What’s more, bankruptcy will generally not affect your immigration status or citizenship application. Believe it or not, if you are in the midst of applying for citizenship, the Immigration and Nationalization Service (INS) will be evaluating your character, not the details of your financial woes. Like the Santa Clause of the immigration world, the INS distinguishes between those with “good moral character” and “bad moral character”. Pursuant to the Immigration and Nationality Act, the Naturalization process requires that you prove “good moral character”. The Department of Homeland Security evaluates claims of good moral character on a case-by-case basis, taking into account immigration laws and the standards of the average citizen in the community.

Be careful not to get too excited — evidence of “poor moral character” can be grounds to deny a citizenship application (and receive coal in your stocking!). The good news is that filing for bankruptcy as a result of financial hardship does not in and of itself rise to the level of poor moral character. However, acts such as refusing to pay child/spousal support, using credit cards in other people’s names, writing fraudulent checks, tax evasion, transferring assets to avoid creditor action, or providing fraudulent information to the government (such as intentionally filing inaccurate bankruptcy papers) can be considered evidence of poor moral character. Needless to say, there can be criminal repercussions for such actions and the INS may deem filing for bankruptcy as evidencing poor moral character in such instances. Thus, it is important to be truthful when filing bankruptcy schedules and to make sure that all income is reported to the IRS on tax returns.

And there you have it ladies and gents……..a world where bankruptcy and immigration can live in harmony. So long as you give Uncle Sam his fair shake, he will give you yours. Now that’s what I call a green card to financial freedom!

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