Why Bankruptcy
Why, indeed? Some insights into the reasons for filing bankruptcy — presented by an attorney specializing in the practice of bankruptcy.
A local attorney specializing in the practice of bankruptcy was kind enough to provide us with this insightful look into some of the reasons that bankruptcy filings are once again climbing.
Ever been to a third world country? If you have and are perceptive, you will notice that people there don’t have close to the consumer goods we take for granted.
There is a good reason for that — NO CREDIT! If you don’t have the funds you can’t buy — it’s that simple in those places.
As a result, those economies are a fraction of the size of ours.
Without credit, our economy would collapse overnight. No cars would be sold or built, no houses purchased. So, credit has made the U.S. economy. Take it away and we have no economy. Debt is a way of life here.
However, there are drawbacks, including the temptation to live beyond one’s means.
Also, the creation of an extremely materialistic society and excessive rates of interest — once against the law and called usury — now out of control due to greed; moreover, if the creditors are largely foreign controlled corporations there are real hostages to the future with possible consolidation of power in a few banks.
Bankruptcy is the valve on the pressure cooker without which the lid would blow and we would have already had several revolutions by this time, with maybe no economy left in the rubble.
So, in this country, we allow excessive greed in the form of outrageous interest on loans and exorbitant fees for services, but with a pressure valve. That valve is called Bankruptcy.
As a result, the federal government has allowed people to get rid of their entire debt in a legal process called Bankruptcy.
Most commentators state that you must give up your assets in exchange for relief from your debt.
That is misleading. Most people who file bankruptcy give up little or nothing.
Those who have assets they don’t want to give up can file a Chapter 13 bankruptcy and generally make a small monthly token payment and get out of the lion’s shared of their debt.
Others with lower incomes can declare Chapter 7 and get out of their debt by turning over a tax refund or such like.
Many times people struggle for years to try to pay back unreasonable service or credit card debt. Probably, if the truth were known, the debtor has already paid what they originally borrowed.
For instance, that sack of groceries that was charged a year ago has already been paid back two or three times considering the interest.
Many folks don’t use credit cards as an alternative to cash. For most, it’s an expensive way to just make ends meet.
If that’s your case, just get rid of it. Don’t pay for years only to find that when you look at the balance still owed, it has only gone down a few dollars for the hundreds that you have paid.
There is no virtue in continuing to pay on debt you have rightly paid or to pay for services already paid by an insurance company.
Bankruptcy is a legal procedure to rid yourself of all that.
Auto Finance Can Be Bad For Your Health
It’s a fact we’ve all encountered at some point. Just trying to arrange that car loan can be bad for your health.
Stressful. Uncomfortable. With a little dose of anxiety thrown in for good measure.
Sound familiar?
That’s how the majority of customers tell us they feel when they get to the point of arranging their auto financing.
Add to this the fact that more than 1 out of 2 people don’t qualify for conventional financing and you have a sure-fire recipe for a really bad day.
Our goal at Fresh Start Indy is to take away that bad experience. No pressure. No hype. Just an honest and straight-forward approach to solving your auto finance needs.
We have resources available that no one else has. And we have a solution for you, whatever your situation.
We invite you to feel free to explore our site — we’ve tried to address most of the questions people ask.
Auto Finance For The Self-Employed
Self-employed? Need to arrange financing for your next car? If you’ve got sterling credit, no problem.
What if you have “less” than a sterling credit rating? You can still get financing. But you can expect to jump through some hoops to get anything approaching decent terms. [Read more…]
Auto Finance After Repossession
Can you really finance a car after a repossession? Yes, of course you can. It’s important that you fully understand the process going into it.
First of all, there are countless sources that will finance a car loan for you. In general, they are not unsympathetic to your situation. They will generally evaluate each situation individually. [Read more…]
Auto Finance After Foreclosure
What happens to your ability to finance a car after you’ve had a foreclosure?
Chances are, if you’ve talked to a bank or your local car dealer, you may have gotten some bad news. They’re more than a little reluctant to finance a vehicle when you’ve had a foreclosure. After all, they say, you can’t pay for your house so we sure don’t think you’ll pay for your car.
In the difficult arena known as the mortgage mess we have today, there is one area that we have some good news for you. We have access to lenders that will approve your car loan. [Read more…]
Auto Finance After Bankruptcy
All too often, we encounter situations where customers have not surrendered vehicles during their bankruptcy. Not realizing that they could arrange financing for a replacement vehicle before their discharge, they are now faced with the task of locating a source of financing after the discharge.
Although each individual circumstance will differ, you need to know that it is not only possible but fairly easy to get approved for auto financing after a bankruptcy. [Read more…]
Auto Finance During Bankruptcy
There is a myth that you can’t get a car loan until your bankruptcy is discharged. And that’s just what it is — a myth. We arrange these loans for our customers every day. It’s our specialty.
Welcome To Your Fresh Start
FreshStartIndy has become a firm favorite with consumers for straight talk, an honest and upfront approach and by revealing the good, the bad and the ugly of auto finance.
As you have probably already experienced, much of the auto finance industry is frequently highly secretive and filled with deception.
While just barely avoiding crossing the legal line, this part of the industry often exists upon those who will promise you the moon and then fail to deliver.
Since its launch, FreshStartIndy has been making waves in auto finance circles with its no-nonsense approach to what really goes on behind the scenes in this multi-billion dollar industry.
Our mission is to provide you — the consumer — with hard facts, expert help and advice so you can make the best decision about which auto finance solutions are suited to your particular situation.
Out of frustration over the lack of reliable information available directly to the consumer, we launched this site to provide up-to-date information and assistance for all who have a need for auto financing.
As we all know, the marketplace has undergone some recent and unprecedented changes. While there are countless reputable dealerships and financial sources available today, finding this information in a quick and reasonable fashion can be a tedious and tiresome process.
Our intent is to provide you with this information and to feature solutions that are reliable and trustworthy.
FreshStartIndy is a consumer favorite for straight talk and an unbiased approach to this frequently misunderstood field.
The good news is that in spite of today’s troubled economy, we can still offer you excellent financial solutions for virtually every situation.
