Great reminder from a great attorney and fellow NACBA member that how you look at your situation and the words you speak have power in your life. Let your words echo your attitude and have faith and hope and look at Bankruptcy as a new beginning.

http://www.legalquestion.com Attorney Richard Baker

http://www.bankruptcylawnetwork.com/2010/08/07/isaiah-5719-and-bankruptcy/?utm_source=twitterfeed&utm_medium=twitter

Credit Card Companies Never Stop! New Junk Fees! Where there is a will, there is a way..right? Greed Never Sleeps!  Rick Baker, Esq. www.legalquestion.com

A Consumer's Guide to the Latest Credit-Card Traps - WSJ.com

online.wsj.com

Just months after historic legislation banned certain billing practices, card issuers have dreamed up new ones designed to trip up consumers.

When the Federal Trade Commission is finally focusing on these scam outfits, you know it's bad.

Beginning in October, 2010 companies that promise to reduce or eliminate credit-card balances and other debt for customers will no longer be allowed to charge an upfront fee as a crackdown on the debt- settlement industry.  This is only for "For-Profit" Companies and only those who use Television and Radio to initiate the first contact.  More hollow regulations...but better than nothing I guess. If they violate, it could be $16,000 per violation!

As a Consumer Bankruptcy Attorney of many years, I don't need the FTC or the Better Business Bureau to tell me that since the start of the recession, the Better Business Bureau has received thousands of complaints about debt-settlement companies. Customers typically complain that they ended up deeper in debt or were sued by creditors after failing to make payments. 

For years I have seen my clients attempt this, only to file for bankruptcy anyway and wish they had done so years earlier when they needed to.  And don't forget that forgiveness of debt is also a taxable event, i.e., income, meaning you will get a 1099 next January for whatever they got the creditor to forgive or reduce.

I firmly believe that if you have income to work with, you are much better off in a Chapter 13 because you will not pay interest on the debts and you will pay less based on your ability to pay AND get a Discharge at the end of the case which will clean up your credit...and no tax consequences!  Florida Consumer Bankruptcy Attorney Rick Baker, Esq. www.legalquestion.com 

The Court System’s Latest Headache: Debt-Collection Suits - Law Blog WSJ:http://bit.ly/bOe1E1 

As Pete Barry said at NACBA in San Francisco in May, Debt Collectors in a recession are like dogs you don't feed...they start chewing on the furniture.  Who's the furniture?  Consumers!  My Clients!  Due to the increased number of debt buyers, the lawsuits are now coming in greater numbers, putting even more pressure on cash strapped consumers trying their best to keep current.

As Dick Rubin states in this article (a longtime expert just like Pete Barry from Minnesota), it is a factory approach to practicing law.  Note the NY firm mentioned files 80,000 lawsuits a year!

So what does this mean?  It means that if you are behind on debts and can't catch up, a debt collector lawsuit is more likely than ever.  With more debt collectors suing first and asking questions later, get PROACTIVE!  Explore your options and speak with an experienced Consumer Bankruptcy Attorney.

At BAKER LAW, I serve, counsel and represent clients in Greater Central Florida, including counties of Orange, Seminole, Osceola, Lake, Brevard, Volusia and Polk.  We serve many cities including, Winter Springs, Winter Park, Maitland, Altamonte Springs, Sanford, Oviedo, Orlando, Fern Park.  

As a federal debt relief agency law firm, we help people solve debt problems so visit us at www.legalquestion.com and read some of my blogs that may help you.  You can also follow me on Twitter at twitter.com/BakerLawFL for the latest information on these issues.