Houston-Based Law Firm, Busby & Lee, P.C. Launches Toll-Free Consumer Hotline to Address Confusion over new Bankruptcy Laws
Houston, TX (ContentDesk) July 12, 2006 -- The Bankruptcy Abuse and Consumer Protection Act, also known as BACPA, not only changed the bankruptcy law, it created a significant amount of confusion and misinformation among consumers, the media and even creditors. In an attempt to help clarify the confusion, the Houston, Texas based law firm of Busby and Lee, P.C. set-up a new consumer bankruptcy hotline number, 1-888-422-6423, to answer general questions about the Act.The hotline addresses the issues and concerns of individuals facing lawsuits, foreclosure, and/or repossession, particularly individuals who may be contemplating bankruptcy due to debt problems. The hotline was the brainchild of attorneys Michael G. Busby, Jr., and Ricardo Contreras, who along with a dedicated staff of professionals, spent several weeks in the summer of 2005 attending various national seminars in preparation for the implementation of the reform act. Many consumers are complaining about collection agencies stating that the consumers cannot file for bankruptcy or that the consumer will not qualify as a result of the new act, according to Michael Busby, a partner with the firm that specializes in consumer bankruptcy, family law and criminal law, The truth is that simply may not be the case. While the Act has definitely added to the complexity of the situation, it has not eliminated options for consumers faced with debt-related problems, he added.
About 80% of those consumers contemplating bankruptcy fall under the median income for their state. Median income is issued by the U.S. census bureau, and it is determined by the household size and income. If the debtor falls below the median income then the debtor will likely qualify for chapter 7. Chapter 7 versus Chapter 13Attorney Ricardo Contreras adds, For those debtors who fall into the 20% of the above-median income, this doesnt mean that you are barred from filing a bankruptcy; instead, a test called the means test must be performed. Under the means test, the debtors income is determined by the last six months of income received and guidelines establish whether or not a Chapter 7 filing is applicable or if a Chapter 13 debt consolidation is required. Many variables factor into the determination of Chapter 7 versus Chapter 13 eligibility, Contreras continues.
The new regulations point to the need for professional advice for anyone seeking bankruptcy protection. For most debtors the paperwork is the same. However, one constant is that every debtor must undergo credit counseling before the case can be filed. The policy behind the credit counseling requirement is to encourage the debtor to attempt a debt management plan or a consolidation of their credit cards with a non-for-profit entity. The entities approved to conduct the counseling are, for the most part, undergoing a budget analysis, which concludes that filing bankruptcy is the only option. Busby & Lee, P.C., provides the debtor with a list of authorized providers.Even if a debtor cannot file a Chapter 7, Busby & Lee, P.C., would still recommend a Chapter 13 bankruptcy vs.
a private consolidation. Generally, the repayment plan proposed in a Chapter 13 is easier for the debtor to budget than the consolidation payment. Also, many times in a Chapter 13, the debtor will not pay 100% of the credit cards back. Most of the time there is no interest paid on the credit cards, and no issue exists in trying to negotiate lower interest rates, as with the a private consolidation. At the same time, penalties and over the limit fees are no longer assessed against the debtor.
Finally, the debtor may consolidate secured debt in the Chapter 13, which cannot be done in a private consolidation.For more information on Bankruptcy Abuse and Consumer Protection Act, personal bankruptcy, family or criminal law, contact Michael Busby at 713-974-1151 (toll free: 888-422-6423) or visit their website www.busby-lee.com..
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The Scariest Part of this Season is not Halloween
Denver, CO (ContentDesk) October 17, 2005 -- It is mid-October and Halloween is right around the corner. Children think about candy, ghosts and goblins or going to trick or treat. As an adult, the scariest part of this season is debt.Probably one out of every five people you talk with knows someone that is struggling financially. What is causing the struggle?
" Recent increase in gas prices for automobiles is still taking its toll on household income. Some chose to pay for the gas with credit cards; however, they did not pay the credit card bill." Upcoming increase in heating costs due to hurricanes and colder temperatures.
The estimate of heating bills for all fuel types will cost about one-third more this winter on average. " Job search times are on the raise. Taking some people longer to find a job. I remember working temp assignments for approximately four years in Colorado before I found a steady job." Mortgage rates are up over 6%. This makes it harder for first-time...
The Scariest Part of this Season is not Halloween
Debt consolidation > The Scariest Part of this Season is not Halloween
World Recession now Inevitable - Assume the Crash Position!
You can hardly have failed to notice the massive consumer-fuelled boom across most Western economies the last 5 years or so. In the wake of 911, decisions were taken at the very highest levels that a recession at this point would be disastrous, and so it was 'put off' with the panacea of low interest rates.Interest rates, in fact, have been hovering at or near 50 year lows since that time in most developed nations including the US and UK, and have only recently begun to rise back to historical norms in the face of worldwide economic pressures.The 'optimistic' among us seem to think the current situation can continue indefinitely, with a 'new paradigm' of low interest rates, easy credit, and massive house price inflation in what is otherwise a low inflation environment. They are, of course, wrong, as the key phrase 'new paradigm' should have alerted you. Whenever anyone says 'it is different this time' you can safely bet your very last dollar that it isn't!But why can't the current 'perfect'...
World Recession now Inevitable - Assume the Crash Position!
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Exceptions Break The Rule
The golden rule isn't: "Treat others as you want to be treated... unless they tick you off." Nor does the commandment "Thou shalt not steal" come with restrictions or blackout periods. It's a rule ? a very powerful rule ? that should be followed in all circumstances. Any exception would break the rule completely. What's the point of a rule, goal, or plan if you don't follow it? If you're not willing to follow a plan, idea, or goal straight through, then don't bother pretending.
You're only...
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Amazing Singles - A Website That Encourages Visitors To ?Celebrate The Single Life!?
(ContentDesk) February 26, 2004 -- Being single just ain't what it used to be! - That's the theme of Amazing Singles, a website where visitors are encouraged to "Celebrate the Single Life!" It's a singles site unlike all the rest. Here, guests are urged to enjoy their freedom rather than being pressured to find "the perfect mate" and settle down for life."Times are a changin'" says Ron McCulloch, owner of Amazing Singles (
Houston-Based Law Firm, Busby & Lee, P.C. Launches Toll-Free Consumer Hotline to Address Confusion over new Bankruptcy Laws Amazing Singles - A Website That Encourages Visitors To ?Celebrate The Single Life!?
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GiveFun.com, the Only Online Gift Certificate and Registry Service Exclusively for Gifts of Fun, Adds New Merchant Partners Including Broadway.com, The Chart House, and Rainforest Cafe Just in Time for the Holiday Season
Miami, FL (ContentDesk) December 3, 2004 -- GiveFun.com a travel, leisure and entertainment based e-mailable gift certificate and registry service, announced the addition of several national entertainment focused retailers to its ever growing list of participating merchants. Recipients of GiveFun gift certificates now have an even wider variety of fun related merchants to select from, making it an even more appealing gift option for those interested in giving something other than "stuff" this...
GiveFun.com, the Only Online Gift Certificate and Registry Service Exclusively for Gifts of Fun, Adds New Merchant Partners Including Broadway.com, The Chart House, and Rainforest Cafe Just in Time for the Holiday Season Houston-Based Law Firm, Busby & Lee, P.C. Launches Toll-Free Consumer Hotline to Address Confusion over new Bankruptcy Laws Debt consolidation
Debt consolidation > GiveFun.com, the Only Online Gift Certificate and Registry Service Exclusively for Gifts of Fun, Adds New Merchant Partners Including Broadway.com, The Chart House, and Rainforest Cafe Just in Time for the Holiday Season
The American Girl Doll: A must-have for doll collectors and children.
The American Girl Doll collection provides fun imaginative play for children with clever educational twists using furniture, clothes and accessories from different periods of history, all combined in a cute, playable child's doll. This is a collection of 18-inch dolls, all depicting the American Girl throughout various historical periods from 1764 to 1944.
The American Girl Doll has enjoyed tremendous popularity amongst kids and collectors alike...
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