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Posts Tagged ‘Southern California Bankruptcy Attorneys’

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.”

Contest Winners: They “like” our Facebook pages, but they love their new IPads!

Wednesday, April 20th, 2011

Throughout the months of February and March we hosted a contest for our Facebook pages. The participants were simply asked to watch either our bankruptcy or tax services video, fill out the contact form, and like our facebook page. Although all of our contestants won free education on bankruptcy and tax services, there could only be two grand prize winners. Kyle O’Kelly and Beatriz Ramirez both won 16GB Apple Ipads! Congratulations!

Beatriz Ramirez with Doan Law Firm Marketing Director Hank Evers

Kyle O'Kelly with Doan Law Firm Marketing Director Hank Evers

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.

Celebrity Bankruptcies: How Fallen Stars Rise Again

Tuesday, March 29th, 2011

Celebrity Bankruptcies

It’s quite amazing to look back in history and see the wide variety of famous individuals that have declared bankruptcy. Although they may be rockstars, actors, or athletes, they have had financial hard times just like the rest of us. After a few too many nights of partying, overspending, bad investments, or one bad business decision, they were prompted to pull the BK card.

To start, MC Hammer’s famous song “You Can’t Touch This” was exactly what he was singing towards his creditors. In 1996 he filed for bankruptcy after reportedly spending $500,000 a month on his entourage and was in debt $13 million. One of his debts was to an interior decorator for $110,000! Along with the interior decorator, he owed an attorney over $500,000. It sounds like MC Hammer’s spending habits might have been even bigger than his hit songs.

While we’re talking about major music types, Cyndi Lauper has to be mentioned. Cyndi wasn’t always just having fun in the 80’s. “Time after time” in her early years she couldn’t pay her bills. Before her hit album she was in another band, Blue Angel, which broke up due to managerial issues. In 1980 Cyndi filed for bankruptcy and picked up a job in retail to just get by. Now you know Cyndi’s “true colors,” she may have landed at the top of the music charts, but not always the financial ones!

Along with the individuals who pushed us to blast our stereos, we have quite a few actors earning their stars in bankruptcy. While we were watching them for entertainment, creditors were watching them for their debts. Burt Reynolds had many “boogie nights” with his lavish lifestyle. He had a helicopter, two mansions, and a ranch. His life was extraordinary. Too bad he had to receive his “burn notice.” He received a pricey divorce settlement from his wife. This, along with a series of bad movie choices, led Burt to declare bankruptcy in 1996. He filed a Chapter 11, reorganizing his $10 million debt, and was allowed to keep his mansion in Florida. Hopefully Mr. Reynolds continues to make smart movie choices and stays away from those wild but beautiful women.

Speaking of beautiful women, Kim Basinger has always melted us with her dazzling beauty. Too bad her career choices aren’t as impressive as her looks. The blonde bombshell decided to back out of the movie “Boxing Helena,” leaving her with a law suit. Along with the poor movie decision, she decided to buy a small town in Georgia with the plans of turning it into a mini Hollywood. When the bills flooded in, Kim was drowning in money problems. The beauty didn’t plan for the financial difficulties that the town renovation brought.  She filed for bankruptcy in the early 1990’s. Kim may fail at entrepreneurial decisions, but she never fails at looking good!

We couldn’t mention the topic of entrepreneurial decisions and not mention Donald Trump. Trump, a man known universally for his business ventures, tv show, and interesting hair style, is one of the most successful entrepreneurs of all time. He has made some brilliant real estate moves, allowing him to build his empire. Unfortunately, not all of his moves are equally beneficial. In an attempt to expand, he entered into the area of casinos. This has not produced the outcome he was hoping for. Donald filed for bankruptcy in 1992, again in 2004, and then again in 2009. That’s three times in less than twenty years that he has declared bankruptcy, yet he is still an entrepreneur idol.  Trump has used this financial tool to help him maintain his empire and venture into new areas without great liability. Too bad filing bankruptcy couldn’t fix both his financial situation and his hair.

Well, we’ve discussed some singers, actors, and entrepreneurs, but what about athletes? Do those tough guys go through financial hard times too? Sure do! Those powerful muscles don’t protect them from hits of debt. Mike Tyson, to name one, had a lucrative career of $30 million. He reportedly made millions per fight. Sadly, his spending habits were as big as his ear biting incident. Tyson’s $400,000 in monthly expenses, including a pair of exotic tigers, earned him an outstanding $27 million in debt. Both he and his company, Mike Tyson Enterprises, filed for bankruptcy in 2003. Looks like Tyson’s bankruptcy helped him bite off a lot of debt.

As we hoped you have learned from this article, bankruptcy is shared by a wide variety of people. It is nothing to be ashamed or afraid of. In fact, as you can see, it is even a beneficial tool for those who want a fresh start. The figures we named above were confronted with the same challenge that we are all faced with, finances. Luckily, they chose the right path and solved their problems. This brilliant choice to get a fresh start is why they can remain stars in our eyes.

Thumbtack: A Cool New Place to Post our Bankruptcy and Tax Services

Saturday, March 26th, 2011

Thumbtack Logo

Doan Law Firm is the largest family of bankruptcy attorneys in California. We offer not only Chapter 7, Chapter 11 and Chapter 13 legal services but also creditor abuse protection and tax services. With 17 offices and the ability to manage cases throughout the state, we need to be connected with our communities. One of the newest online directories is Thumbtack. Doan Law Firm is on the cutting edge of bankruptcy law. With Thumbtack, we remain on the cutting edge of online communications and social networking. Check out our bankruptcy, creditor abuse protection, and tax services on Thumbtack.

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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