PLEASE READ THE FOLLOWING TERMS OF SERVICES & LEGAL NOTICES (“THIS AGREEMENT”) CAREFULLY BEFORE USING THE www.shannonphillipslaw.com
WEBSITE (hereinafter referred to as the “Site” or “We” or “Our”). These terms explain your (and Our) rights under this Agreement and make certain disclosures required by the law. DO NOT USE THIS SITE IF YOU DO NOT AGREE IN FULL WITH THESE TERMS OF SERVICES. We have the right, in our sole discretion, to modify, add, or remove any terms or conditions of this Agreement without giving individual notice to you, by posting the changes on the Site. Your continuing use of the Site signifies your acceptance of any such changes.
PLEASE NOTE THAT NOTHING ON THIS WEBSITE IS INTENDED TO CREATE AN ATTORNEY-CLIENT RELATIONSHIP, AND THAT THIS INFORMATION IS FOR THE INFORMATIONAL PURPOSES ONLY.
DISCLOSURES REQUIRED UNDER SECTION 527 AND 342 OF THE BANKRUPTCY ABUSE PREVENTION AND CONSUMER PROTECTION ACT OF 2005. NOTICE
Notice Mandated By Section 342(b)(1) and 527(a)(1) Of The Bankruptcy Code
PURPOSES, BENEFITS AND, COSTS OF BANKRUPTCY
The United States Constitution provides a method whereby individuals, burdened by excessive debt, can obtain a “fresh start” and pursue productive lives unimpaired by past financial problems. It is an important alternative for persons strapped with more debt and stress than they can handle.
The federal bankruptcy laws were enacted to provide good, honest, hardworking debtors with a fresh start and to establish a ranking and equity among all the creditors clamoring for the debtor’s limited resources.
Bankruptcy helps people avoid the kind of permanent discouragement that can prevent them from ever re-establishing themselves as hardworking members of society.
WHAT BANKRUPTCY CAN AND CANNOT DO
Bankruptcy may make it possible for financially distressed individuals to:
- Discharge liability for most or all of their debts and get a fresh start. When the debt is discharged, the debtor has no further legal obligation to pay the debt.
- Stop foreclosure actions on their home and allow them an opportunity to catch up on missed payments.
- Prevent repossession of a car or other property, or force the creditor to return property even after it has been repossessed.
- Stop wage garnishment and other debt collection harassment, and give the individual some breathing room.
- Lower the monthly payments and interest rates on debts, including secured debts such as car loans.
- Allow debtors an opportunity to challenge the claims of certain creditors who have committed fraud or who are otherwise seeking to collect more than they are legally entitled to.
Bankruptcy, however, cannot cure every financial problem. It is usually not possible to:
- Eliminate certain rights of secured creditors. Although a debtor can force secured creditors to take payments over time in the bankruptcy process, a debtor generally cannot keep the collateral unless the debtor continues to pay the debt.
- Discharge types of debts singled out by the federal bankruptcy statutes for special treatment, such as child support, alimony, student loans, certain court-ordered payments, criminal fines, and some taxes.
- Protect all cosigners on their debts. If relative or friend cosigned a loan which the debtor discharged in bankruptcy, the cosigner may still be obligated to repay whatever part of the loan not paid during the pendency of the bankruptcy case.
- Discharge debts that are incurred after bankruptcy have been filed.
BANKRUPTCY’S EFFECT ON YOUR CREDIT
By federal law, a bankruptcy can remain part of a debtor’s credit history for 10 years. Whether or not the debtor will be granted credit in the future is unpredictable, and probably depends, to a certain extent, on what good things the debtor does in the nature of keeping a job, saving money, making timely payments on secured debts, etc.
The section titles in this agreement are for convenience only and have no legal or contractual effect.
|Monday||8:00 AM to 5:00 PM|
|Tuesday||8:00 AM to 5:00 PM|
|Wednesday||8:00 AM to 5:00 PM|
|Thursday||8:00 AM to 5:00 PM|
|Friday||8:00 AM to 5:00 PM|