The Bankruptcy Lawyers, Chang & Diamond

Homeowners Sought Help, Got None

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Tue, 09 Nov 2010 16:17:00 +0000

Look at this article in the San Diego Union Tribune this morning. The link is http://www.signonsandiego.com/news/2010/nov/08/homeowners-sought-help-but-didnt-get-it/?Watchdog Sure looks like another example of a loan modification scam. Ok, so I don't have all of the intimate facts and I may be wrong. But read the article and come to your own conclusion. I doubt I am wrong. These con-artists really disgust me. Clearly they are preying on desperate people. I still don't get how they can sleep at night. Personally, If I were them, i'd be scared. Desperate people can do desperate things. When you start messing with someone's lives, people can snap and do crazy things.

So anyway, how is this related to bankruptcy. Well, a Chapter 13 can help a homeowner turn their 2nd mortgage into an unsecured debt. Once it is an unsecured debt, it can be treated the same as other unsecured debt (like credit cards). A Chapter 13 plan may allow the debtor to compromise the unsecured debt and pay pennies on the dollar. At the end of the plan (which lasts 3 to 5 years) the 2nd mortgage is gone with all other unsecured debt. And hopefully the homeowner has an equity position in the property.

Want to learn more? Call me (Richard Chang) at 619-233-6300 or see my website. www.thebklawyers.com

Mortgage Bankers Assoc. Default on Loan... WHAT?!?

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Wed, 13 Oct 2010 20:32:00 +0000

Well, it's no wonder that our housing market is in the condition that it is in! At Chang & Diamond, APC many clients come to us to help free them of mortgage debt. We pass no judgement and help as best as we can. So it angers me when I hear that the Mortgage Bankers Association which is the mortgage "industry's voice on legislative and regulatory issues" has recently defaulted on their $79 million dollar building that they purchased a few years ago. When they fell on some hard times over there at the MBA, rumor has it they decided renting would be cheaper. So they short sold their new (and very expensive) building in favor of renting. They moved about 5 blocks away from where they defaulted. The president of the MBA, John Courson, has been quoted saying that defaulting on your loan is a moral issue. In addition to that not being true, it is also hypocritical. He also said that before you default on a loan you should consider what message it sends to "family and their kids and their friends by defaulting".

We see hundreds of clients every year that have no choice but to default on their homes. Our clients can rest easier now knowing that even those that preach against defaulting on your loan have done it once themselves.

If you find that you are in a position that you need to default, bankruptcy can protect you from any repercussions. Call us today! 619-233-6300

Bank of America Halts Foreclosures

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Fri, 08 Oct 2010 20:36:00 +0000

Big news for Chang & Diamond's Bankruptcy clients!

According to almost all news websites (that care to report about our nations housing crisis) Bank of America along with several other large lenders have halted their foreclosure processes for the time being.

The reason these large lender came to a screeching halt is to prove that there have been no illegal foreclosures. In 23 states a Judge is required to approve a foreclosure before the home is taken back or sold at auction. At a legal proceeding in February a Bank of America official stated that she signed up to 8,000 foreclosure documents a month without reading them. Making it unclear if a Judge had signed off. There are also rumors of Trustee Sale Companies forging debtors signatures and notarizing documents in house to speed up the foreclosure process.

Bank of America, and the others, contend that nothing has been amiss, but they want to take a month or so to prove it. Lenders acknowledge that they are constantly under fire since our housing marking fell through the floors in the last few years. In response to Consumer/Debtors/Voters concerns that some may have been evicted unlawfully, Spokesperson for Bank of America, Dan Frahm, said "we feel the need to address that and demonstrate that our process is accurate". Bank of America also stated that although they are among the first to go back and double check their work, this practice may soon be required for all lenders.

This is good news for a couple reasons. First, this will give some of our clients additional time to work out their finances. If we were filing a Chapter 13 to keep a person out of foreclosure, we could now look at Chapter 7 as an option. Also, this will keep our fragile Southern California housing market from becoming even more saturated with bank owned homes that nobody wants. The UT reported that "During the first half of this year, there were 5,458 notices of default in San Diego County and 3,315 foreclosures, according to MDA DataQuick, a real estate analysis firm based in La Jolla." Perhaps this will help get those numbers down also. The last silver lining that I see is that these big lenders seem to be taking more responsibility for their actions. That seems like a step in the right direction.

Call us today if this news may effect your bankruptcy. 619-233-6300

Filing for Bankruptcy 101

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Mon, 04 Oct 2010 22:24:00 +0000

What does it mean when I hear "file my petition"?

Before almost everything was done electronically, there was a time when a person had to physically go to the court house and fill out confusing and long forms, give them to the clerk who would then stamp and finally file them.

Now, thank goodness, we can do all of that online. The Bankruptcy Courts have a website and once we are logged into it we can upload all required documents to file bankruptcy.

Here's what we do. First we make sure that all required documents have your signature on them. We also need your Attorney to sign off on the forms, but only after they have reviewed them for accuracy. We then create your file electronically either by scanning it in or by creating a pdf from the bankruptcy software we use. We make sure your schedules and signature pages are in the correct order, we make sure everything is accurate and according to the law then we save it to your file on our server.

Once we have that we log into the Bankruptcy Court's website and upload your case. When completed uploading you petition, all schedules, and your signature pages we receive confirmation that your case has been filed and we are giving your case number.

There are a lot of forms that must be filed with the courts to file bankruptcy. They can be lengthy and complicated (even for Attorney's that are not practicing bankruptcy). That is why it is important to contact the Law Offices of Chang & Diamond to help you through the process. We do all the very difficult and complicated work so that you don't have to. We have many years and many many cases under our belt. We stay current with the laws and although we do not have testimonials from all of our clients, please check out our website to view what some very happy clients have said about us.

Call us today and we can get started down the road to filing your bankruptcy! 619-233-6300

Time

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Wed, 29 Sep 2010 17:37:00 +0000

Time is a constant concern when talking about bankruptcy. How long is the process? How long is the consultation? How long is my "hearing"? It seems from the beginning of our relationship people want to know how much time will be invested.

I thought I would dedicate this entry to giving some ballpark estimates of time frames for people.

How long is the free consultation?
The free consultation with one of our Attorneys at Chang & Diamond, APC is about 30 minutes. Please see our "10 Questions" article to get the most out of your free consultation.

How long is the process?
For a Chapter 7 I estimate that the entire time frame (assuming that all goes exactly according to plan) is about 6 months from the day you meet with one of our Attorneys to the day you get a discharge. For a Chapter 13 you will be in bankruptcy for about 3 to 5 years.

How long is my "hearing"?
Your 341a Meeting of Creditors is very very short. However, the waiting can be very very long. I always suggest that people get to the location of the "hearing" about 30 minutes before to find the correct room and get settled in. Depending on if the Trustee is on schedule or not (more often than not it seems that they are behind) you may find yourself with some waiting time on your hands. However boring this may be it does provide you an opportunity to understand the line of questioning. Take this chance to learn what questions will be asked of you on the record. When it is your turn to sit before the Trustee answer any questions he/she asks of you then you are done. The questioning should last only about 5 minutes.

How long until I can get a credit card again?
Anytime you are IN bankruptcy you cannot incur new debt. So during the bankruptcy process you cannot get any new credit. Once your bankruptcy has been completed you are free to start to rebuild your credit again. Only a lender can let you know if you qualify for their credit card, and a secured card may be a good place to start. Making sure you pay the entire balance every month is a wonderful way to re-build credit.

How long does a bankruptcy stay on my credit report?
All bankruptcies stay on your credit report for 10 years. The bankruptcy tends to matter less and less as time goes by, but it is on your report for 10 years. Our FAQ section addresses this further on our site.

How long until I can purchase a house?
This is completely up to the lender. However, if you surrender a home in your bankruptcy or have a foreclosure on your credit report then Fannie Mae just released new guidelines that state you cannot qualify for a home loan for 7 years after a foreclosure has been reported on your credit. A short sale prohibits you from purchasing for 2 years after it has been reported on your credit.

When will I be able to get a new vehicle after bankruptcy?
Yes. Several lenders have programs to assist you in purchasing a vehicle after bankruptcy. After you file chapter 7 bankruptcy you cannot file again for 8 years. If you have a 5 year loan on a vehicle the lender can be certain that you are responsible for making those payments.

I filed bankruptcy in the past, how long until I can file again?
You can only receive one discharge every 8 years. Note that if you file more than 3 bankruptcies in one year you may have to prove that you are not filing in bad faith.

Call us today to schedule some time with us. We look forward to working with you!

Another Law Office Goes Under

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Thu, 26 Aug 2010 21:49:00 +0000

It often happens, especially in today's economy, that a business fails. The tragic death of a company is mourned every day by someone. The only thing worse than losing your business is having your bankruptcy law firm close it's doors. Many owner/operators of law offices are forced to shut down every day in today's economy. We have recently seen the end of some bigger law offices here in San Diego. Where does that leave you, the client?

Lately, we have received some calls from people who's Attorney is no longer working and their cases have fallen through the cracks. We are here to pick up the pieces. Our three attorneys are always available to answer your questions. We may be a smaller office, but out business is built on a strong foundation. The Law Offices of Chang & Diamond has been in business for over a decade and we are not going anywhere. We will not let any case be ignored.

Call us today if you need help --we can get your case back on track.

www.thebklawyers.com or call at 619-233-6300 We're here to help, give us a call.

The Potential Downside to Loan Modifications

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Thu, 19 Aug 2010 21:35:00 +0000

Here is the tragic story of clients #8938. This lovely couple had filed Chapter 13 bankruptcy since January 2009. They had successfully paid every month for about 16 months while they were working on a loan modification for their first mortgage.

"Finally!" they thought as the bank offered them a modification. The final step was to get the Trustee's permission (an Authority to Incur New Debt must be signed off by the Trustee in order to get a loan modification). The Law Offices of Chang & Diamond, APC looked at all of the numbers and noticed that this was not in the best interests of our clients.

By taking this offered Loan Modification Clients #8938 were losing 3 ways.

1. Their Chapter 13 plan was curing (paying off) all of the money that they were behind before the bankruptcy. By adding that amount to the end of the loan, as proposed, they would spend the next 30 years paying interest on that amount. Not good!

2. When their monthly mortgage payment would be lower as proposed in the Loan Modification the Trustee would see that they had more disposable income every month. Our clients thought that they could keep this money. That is not the case. All disposable income is dedicated to your creditors while in a Chapter 13 bankruptcy. They were saving nearly $1,000 every month. This money now went to the creditors that were not going to get anything before that money was available. Their monthly plan payment (the payment that is paid to the Trustee every month while in a Chapter 13 bankruptcy) went up --not good!

3. Lastly, when we took the mortgage arrears (the past due) out of the Plan Payment they now had EVEN MORE money to pay to creditors that were previously not receiving any money. Not good!

The Attorney's at Chang & Diamond stressed to our clients not to sign the Loan Modification paperwork, unfortunately our clients signed anyways. Months later though our clients agree that the loan modification was not the best idea. What had started out as a manageable plan payment had become a burden.

We estimated the total loss for clients #8938 at over $75,000 by taking the offered loan modification. Sadly, our clients had worked for over 16 months to get a loan modification and were not willing to let it go. They signed the loan documents and we were forced to amend their plan.

I wish there was a happier ending to this story. Please talk to an Attorney about the possible negative effects of filing bankruptcy.

Please call Chang & Diamond, APC for information on Chapter 13 bankruptcy and how that can help you save your home --even without a loan modification.

Discharge or Non Dischargable --That is the Question!

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Thu, 19 Aug 2010 21:30:00 +0000

Taxes

"The only thing certain is death and taxes" -Ben Franklin.

It often happens that for one reason or another you owe back taxes. The IRS can be relentless in their pursuit for payment. It may seem like filing for Bankruptcy would get the tax man off your back, but this is not necessarily the case. The Franchise Tax Board and the Internal Revenue Service really don't like to lose money.

How you can tell if your tax debt is likely to be discharged with a Chapter 7 bankruptcy? Here is a good rule of thumb. If you tax debt is more than 4 years old and was filed accurately and on time then those debts might be dischargable. The final say is still given to the IRS or Franchise Tax Board. In conclusion, some tax debt is sometimes dischargable -sometimes.

The Cost of an Education

Student loans are never dischargable. If a loan was granted for the purposes of education then currently that debt can not be discharged. Under any circumstance. I say currently because our good President Obama has put in motion some changes that may help the next group of broke -but educated- post graduates. The Wall Street Journal recently reported that student loan debt has now surpassed credit card debt. One can only hope that soon a person struggling for financial freedom will be able to discharge these debts also.

Support Payments

Child Support and Spousal Support are never discharged with bankruptcy. Unless you can prove that you do not owe those debts, they are yours to pay. The law specifically states that all debts "to a spouse, former spouse, or child of the debtor, for alimony to, maintenance for, or support of such spouse or child..." will not be discharged in bankruptcy.

Since there are so many questions about what is dischargable and what is not, it is always best to consult a Bankruptcy Attorney. If you would like more information please feel free to drop in or call us. We are available Monday through Friday from 8:30 - 5:00, and we have Saturday morning hours at some of our offices. Call today at 619-233-6300 for a free consultation.

The Bankruptcy Lawyers, Chang & Diamond: "I'm so broke I can't even afford bankruptcy!"

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Thu, 05 Aug 2010 16:54:00 +0000

The Bankruptcy Lawyers, Chang & Diamond: "I'm so broke I can't even afford bankruptcy!"

"I'm so broke I can't even afford bankruptcy!"

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Thu, 05 Aug 2010 16:03:00 +0000

At Chang and Diamond we understand the situation you are in.

Many people call us every day with the same thoughts and fears about hiring an Attorney to file Bankruptcy. On a daily basis we hear clients expressing that "If I could afford to pay anyone, I wouldn't be in this situation. How can I afford to hire an Attorney to file Bankruptcy?"

Our Attorneys have been helping people get out of debt since 1998, so we understand the financial stresses that get a person to the point of bankruptcy. Unlike other offices, the Law Offices of Chang & Diamond works with clients to come up with a payment plan that works for everyone.

Sure other offices may say that they will accept payments, but what sets the Law Offices of Chang & Diamond apart from other bankruptcy Attorneys is that WE BEGIN WORKING ON YOUR CASE AS SOON AS WE ARE RETAINED! With a payment plan in place, we do all work necessary to prepare and file your bankruptcy petition.

We offer a free consultation to discuss bankruptcy and inform you of your options. Please call or drop in today.

We look forward to working with you to give you a fresh start.

Case Files: #4811

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Thu, 22 Jul 2010 18:31:00 +0000

When Client #4811 came into Chang & Diamond, APC we saw an intelligent woman in her early 30's. During her consultation she told a story that is very familiar to us. Like most college students, she was bombarded with credit cards the moment she stepped foot on her college campus. With all of this available credit and no training on the importance of using credit wisely, #4811 quickly found her self WAY OVER HER HEAD IN DEBT. Many people who find themselves in the situation learn quickly to transfer balances to keep the mountains of debt from falling in on them. #4811 was a self proclaimed master at transferring to avoid disaster. Until she just couldn't do it anymore and contacted Chang & Diamond.

It seems that the reason that a credit card company will allow a person with mountains of debt to transfer to that debt to them is that these companies make millions of dollars every year off of the huge interest rates on credit cards. They make so much money from the interest rates and fees on consumer debt that they are practically untouched by any defaults (from bankruptcy, writeoff's or otherwise).

There is an amazing documentary called Maxed Out which explores the many aspects of consumer debt. A part of this documentary discusses how these credit card company predators get to our nations college students in the first place. From the synopsis: "FirstUSA also pioneered "partnerships" with colleges—paying them millions of dollars for access to their students' personal information, setting these kids up for ruin." They also hire high school and college kids to act as walking advertisements for the credit cards to make having credit cards "look cool".

#4811 fell prey to the credit card traps and had been living with the consequences since college. Many years and thousands of dollars later she finally said "ENOUGH!" She came to Chang & Diamond for her free consultation and talked about the enormous wave of relief that washed over her when she realized that she would finally be able to get out of the situation she had gotten herself in as a youth and had been unable to shake free of for over a decade.

We are thrilled to announce that #4811 has begun to rebuild her credit with a secured line of credit. She has even begun to save for retirement!

Call us at 619-233-6300 or come in today for your free consultation. We would love to open your eyes to all the options that you have to get out of debt.

Case Files: Family #654

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Mon, 28 Jun 2010 20:51:00 +0000

Mr. and Mrs. #654 came into the Law Offices of Chang & Diamond with their 3 small children because they were severely upside down in their property. They owed more for their cars than they were worth and they owed a lot more on their home than it was worth. We saw a lot of ways we could help this family!

With the Lady of the house staying at home with their young children and Mr. #654 being the only breadwinner, it was clear from the analysis of his income that they qualified for Chapter 7 bankruptcy.

Chapter 7 would allow Mr. and Mrs. #654 the ability to get out from under their home and their cars. They still needed two working cars that fit car seats though, so we let them know that AFTER their bankruptcy is complete that they can still get financing from some of the local dealerships. Of course the decision of lending and interest rates would ultimately be up to the dealership, but since they could not file for a Chapter 7 again for 8 years, the lenders must feel safe lending to them. (We have had several calls from Dealerships confirming this information.)

Since Mr. and Mrs. #654's home loan was an ARM (Adjustable Rate Mortgage) and their mortgage had adjusted, they had been paying almost all of their income to the mortgage company. After making the decision to walk away from the house the were able to rent for a fraction of the cost. Leaving more money for the raising of a young family.

Because the debts from their home had been incurred before they filed Chapter 7 bankruptcy they were able to have that debt discharged through the bankruptcy. There were no tax liabilities from the deficiency.

All in all it was a happy ending for family #654. I guess I should say rather, that it was a HAPPY BEGINNING!

Can I buy a house after Bankruptcy?

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Wed, 09 Jun 2010 18:46:00 +0000

Many of our clients inquire as to their ability to purchase a home (Real Property) after filing bankruptcy. Below are some of the new Underwriting Guidelines for buying a Real Property. Here is how a bankruptcy or a foreclosure can affect your ability to purchase real estate.

Bankruptcy Info:

1. If a Chapter 13 bk was discharged within the last 24 months; dismissed within the last 48 months; or filed by neither discharged nor dismissed within the last 48 months will receive a "refer with caution/IV recommendation".
(I looked up Refer With Caution/IV: "The loan is ineligible due to the recommendation")

2. Non Chapter 13's filed, discharged, or dismissed will received a "refer with caution/IV recommendation.

Foreclosure Info:

1. Debtors with a foreclosure on their credit report over 5 years old will need to put 10% down and have a minimum credit score of 680 to purchase a principle residence.

2. The purchase of a 2nd or investment property will not be permitted while a foreclosure is on Credit.

3. Cash-out refinances are not permitted while a foreclosure is on your credit.

4. Minimum credit score of 620 to purchase Real Property

All of this information came from www.fanniemae.com. For further information on how Bankruptcy or a Foreclosure would affect you, please call us at 619-233-6300 to set up a free consultation.

Stop Calling Me!!!

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Tue, 01 Jun 2010 15:09:00 +0000

There is nothing worse than being harassed by creditors! The incessant calling is enough to make any person insane. There are only a few ways to stop those calls. If you don't have the money to pay off the debt and don't want to live your life hiding from your phone calls, hiring a bankruptcy lawyer can offer one form of relief.

When a person files bankruptcy with Chang & Diamond, APC, there is an federal law that terminates any and all collection practices. We call this law "The Automatic Stay". The automatic stay offers a shield for debtors to stand behind because the law applies to almost any creditor. The stay states that the creditors may not call you, pursue collections or lawsuits against you, and they cannot continue to garnish wages. It makes it illegal for creditors to have contact with you in any way.

The automatic stay is a double edge sword though because it also says that your lenders cannot send you statements anymore. If you are current with your house or car and intend to keep your home or car the lender still cannot send you statement. Also when you call, you may only have access to speak to their bankruptcy department which is a decidedly different experience than talking to "customer service".

The stay does not last forever. You are only protected while you are in bankruptcy. As soon as your bankruptcy is finished, so is the automatic stay. Even when the automatic stay ends however, if you have filed bankruptcy with a bankruptcy attorney your debts will be gone and there will be no reason for any more calls.

Go ahead, and give a sigh of relief and begin to love your cell phone again!

If you want more information on Chapter 7 or Chapter 13 bankruptcies, call Chang and Diamond today for a free consultation! We are available at our San Diego office Monday through Friday from 8:30 to 5;00pm. Call us at 619-233-6300 or 800-718-8118. We look forward to hearing from you.

Short Sale vs. Foreclosure

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Fri, 28 May 2010 19:41:00 +0000

A lot of our clients aren't sure what the effects of losing their real property are. There are several schools of thought. I will only (attempt) to address the differences as they pertain to bankruptcy.

Warning: gross generalization and simplification ahead

If you choose to short sale your house it would look like this. First you would list your home with a qualified agent. This agent would get the banks permission to do a short sale. They would then gather several (hopefully) offers and submit them to the bank. The highest one wins and the bank would approve. What it means for you is that you would stay in your home until ownership transfered to the party that bought it. They may even work out a way that you could rent it back for a period of time giving you enough time to get moved --it's up to the new owner though.

Once it's not in your name any more then the messy part begins. First, they say that a short sale looks better on your credit. This makes no real difference though if you are going to have to file bankruptcy to keep away from the down side of the short sale. This downside comes in the form of a 1099. You see, as far as the Government is concerned, when one party recognizes a loss (your old mortgagee) then someone else must recognize a gain (sadly, this is you). You realized no actual financial gain in the short sale. The only people who made any money in the short sale was the agent who helped you with the short sale, escrow and title maybe too. BUT what you did gain is the "forgiveness" of a chunk of money. Well, you have to pay taxes on that money. You will get a 1099 and be required to pay taxes on that amount. It's ugly. (Check with you CPA to get the hard facts on this subject.) That is when you may want to consider filing a bankruptcy to prove your insolvent and unable to pay that debt. A bankruptcy stays on your credit report for up to 10 years, so it is important to rebuild as soon as you are able to.

Okay, now there is foreclosure. No, this does not look good on your credit report. But if your credit is already not great (and if you are at the point of foreclosure trust me that it does not look great) then an easy way to walk away from the property would be to file a bankruptcy and walk away clean. This really is the easies solution to not being attached to your property any longer. There are no 1099's a, minimal mess and no deficiencies. Wait, I take that back, you would be responsible for any HOA dues that accumulate between the date of filing and the date of foreclosure when the property goes into the banks name and our of yours --the only deficiency. As for credit, the foreclosure will be on there as well as the bankruptcy. Again, the bankruptcy is on there for up to 10 years.

Obviously, neither of these options are ideal. The best plan of action is to educate yourself. Speak to a licensed Broker for information on short sale and also to a bankruptcy attorney for that side of the information. It NEVER hurts to be really educated when making a decision.

For any further info (or for more details and/or information for you specifically) please call or stop in today.
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The Chang & Diamond Team!

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Thu, 20 May 2010 23:07:00 +0000

Allow me to introduce "The Team" here at Chang & Diamond, APC.

Starting with our Partners Richard Chang & Steven Diamond. They started Chang & Diamond, APC in 1998 and have been mastering bankruptcy ever since. In 2008 we were joined by Associate Alison Maloof. She graduated and passed the bar in 2007 and has been involved with consumer debt for her entire career! When you come in for your free consultation you most likely meet with one of these 3 Attorneys. They are also available every day by phone if you happened to call in.

We offer Saturday appointments at some of our offices and if you schedule your free consultation on Saturday you may end up meeting with Tony or Jason. Tony finished Law School and was practicing law in Tennessee. He is studying to take the CA bar now. He has a wealth of knowledge and always directs our clients to the best route for them. Jason is a Paralegal here at Chang & Diamond, APC. He has been with us for just over a year and picked up the Bankruptcy law very quickly. He assists in training new Case Assistants and is always on the lookout for ways to help our clients.

Briana is the manager of the office. She has been with Chang & Diamond since 2007. Her focus was, is and always will be on creating a respectful and fulfilling business atmosphere where customer service is King! (Check out some of our testimonials for proof!)

Next, we have the two ladies that file all of our cases electronically. Melody and Donna spend hours every day filing cases, amendments, oppositions, motions, notices etc. They have their hands full, but manage all cases flawlessly.

Sitting up front we have Carla. She greets every client with a smile. She is very knowledgeable and is a great help to every client that walks through our door.

Moving along to the "Bee Hive" we have Liz, Judi, Jason, Marisol & Scott. We call it the Bee Hive because each of them is working toward a common goal. Each of these members of our team help with the most difficult part of the entire bankruptcy process --collecting and organizing the documentation and creating the file to be reviewed by the Attorney. Each of them has wonderful people skills and fantastic attention to detail.

Finally we have Piper, the office mascot. She is Alison's Shnoodle who joins us at the office a couple days every week. She may let us all know that you have joined us with a bark, but be assured that she is really just a 14 pound ball of love.

We really hope you have a chance to come in and meet one or two of us! See you soon.

Chapter 7 Basics

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Wed, 12 May 2010 16:49:00 +0000

The basics of Bankruptcy are very simple, though the preparation and filing can be quite difficult. Let's discuss Chapter 7.

Chapter 7: There is a plethora of information on Chapter 7 bankruptcies online. But here is the short and sweet breakdown. Chapter 7 is the complete elimination of ALL of your credit cards, medical bills & personal loans. All of it. Wiped away. Gone. You can file for Chapter 7 IF you make under the Median Family Income set by the Government based on the census that we all just finished filling out.

While this seems very black and white, there are exceptions. That is why it is important to take advantage of a free consultation at one of our five offices around San Diego and Riverside County. Even if you don't know if bankruptcy is right for you, you can never be too informed. A free consultation means you have nothing to lose and information to gain. Come see us today!

Contact us today to get more information on Chapter 7 bankruptcy and schedule your free consultation with one of our local and trustworthy attorneys.

Discharge Student Loans?

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Fri, 07 May 2010 16:38:00 +0000

Word is that Senator Richard Durbin, a Democrat from Illinois has been pushing to change the Bankruptcy Laws so that student loans are discharged.

Here is the exact wording from his website:

"The Durbin bill restores the bankruptcy law, as it pertains to private student loans, to the language that was in place before 2005, so that privately issued student loans will once again be dischargeable in bankruptcy, placing student loan companies in the same position as virtually all other private creditors. The bill also clarifies that existing protections are specific to loans that were issued by or are guaranteed by state or federal governments."

We take several calls every day wondering if they can discharge their student loans. Time will tell if Sen. Durbin and his team are successful.

There are certain debts that are discharged in Bank and certain ones that are not. Call or stop by Chang & Diamond today to discuss if bankruptcy is the right step for you.

THERE IS GOOD NEWS!!

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Tue, 06 Apr 2010 22:44:00 +0000

Bad news first:

The bankruptcy court recently informed us that 2009 was the highest numbers of filed bankruptcy cases since the laws changed in 2005. They further explained that expect the number of cases filed to grow until the middle or end of 2011.

Notable Economist, Harry Dent, spoke at a conference last month, and he predicts that our current economic state will last in total about a decade! If this started a few years ago then it looks like we are in for another 5+ years of this recession.

Also, it has been noted that the foreclosure crisis not quite over since there are still ARM loans set to adjust.

Lastly, California unemployment is at an amazingly terrifying 12.4% right now!

Now for some GOOD NEWS!!

It really is wonderful that the Government gave us such a wonderful tool as Bankruptcy. This tool allows people that are drowning in debt or a way to escape those nightmares. It gives hope and a new beginning.

We are here Monday through Friday, all over San Diego County (and an office in Temecula )working hard to help our clients get out of debt and get a fresh start. Our Attorneys are very knowledgeable and our team thrives on customer service. We love referrals and know that the best way to get them is to give a positive experience.

Bankruptcy can be a difficult time. At Chang & Diamond, APC it's all we do. It has been our sole focus for over a decade. Watch our video and see Mr. Chang & Mr. Diamond explain our practice themselves.

Please contact us at 619-2336300 if you think that we can be of help to you while we ride out the remaining 5 (or so) years of not-so-great economic conditions.

Yesterday's Stigma is Today's Norm

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Fri, 02 Apr 2010 17:16:00 +0000

We had a client recently that said that she is referring her Bankruptcy Lawyer to her friends like she used to refer her hair dresser.

There was a time, not so long ago, when Bankruptcy was considered a huge embarrassment and caused a lot of shame to those that had to file. Fortunately today, we have risen above that.

Today, bankruptcy has become more socially acceptable, and so much more common. In 2009, the San Diego Bankruptcy Court stated that that 20,188 cases were filed. Further more, we are on course to shatter that number in 2010. According to the NY Times article "Sharp Increase in March in Personal Bankruptcies", in March our nation had the highest amount of personal bankruptcies filed since the new laws were put in place in 2005.

Filing bankruptcy may not be easy, but at lease it is nothing to be ashamed of. Hiring an experienced Attorney can alleviate some of the difficulty and help you to take that first step toward a fresh start.

Introduction

noreply@blogger.com (The Bankruptcy Lawyers, Chang & Diamond) — Fri, 26 Mar 2010 21:37:00 +0000

Hello and welcome to the blog of Chang & Diamond, APC.

We are a personal bankruptcy law office, specializing in Chapter 7 bankruptcy and Chapter 13 bankruptcy. Our mission is to help people get out of debt using this wonderful tool that is available to them.

Debt is a growing epidemic, especially in todays economy. With over 13% unemployment in California, many people have found themselves unable to continue paying debts, such as credit cards and medical bills with no money coming in from steady employment. With personal debt piling up, and no lowered incomes, bankruptcy becomes a wonderful tool that the Government has offered to us. We are excited to be in a position to assist our clients get out of debt and relieve some of the pressures that we Americans are feeling at this time.

Please check out our website www.thebklawyers.com for more information on each of our Attorneys as well as more information on Chapter 13 and Chapter 7 bankruptcy.