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WHY WOULD YOU FILE FOR CHAPTER 7 or CHAPTER 13 BANKRUPTCY? || HELP! || DON'T FILE FOR BANKRUPTCY!



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oh oh I got a phone call it triggered me

I got a phone call some individual

didn't know what they were getting

themselves into the files of bankruptcy

now they want to get out of their

bankruptcy chapter 13 people be asking

you should have filed for bankruptcy man

I can't really tell you you know I'm not

a lawyer

I'm not financialized and I'm not sleepy

I can't say what's due but I'll say hell

no man don't we found in the bankruptcy

son now maybe it makes sense to you okay

maybe it does maybe you need to protect

your home your assets you know you got

kids at home you got cars and you don't

want them taking all this stuff and it

would be devastating but most cases are

most cases you don't want to be filing

bankruptcy right you want them to go

away most of the people that I know

emailing commenting subscribing what you

can do here I mean hey did you say

subscriber to that system sure I could

think you said subscribe maybe bye

subscribe subscribe what I'm saying is a

lot of people want to make this stuff go

away and a bankruptcy is a way to make

it go away right or paying it off as a

way to make it go away I wanted to make

things go away I did that guy actually

got to do one pay for delete with one

store Carter was a Firestone card and I

had to do pay for me okay but that made

that go away we're trying to make stuff

go away so what's your best option

everybody wants to know the best option

the shortest way the fastest way I know

a friend who filed for bankruptcy

still dealing with the ramifications of

that it was a seven got everything

discharge has really good credit now up

in the seven 30s just talked to this

person recently about that up in the

seven 30s but the bankruptcy link it's

still lingering so we're gonna help them

out with that okay buddy mine now why

perhaps would you want to file for

bankruptcy well let's talk about the

difference of 7 is a complete

liquidation usually you have to hit the

right income per what your debts are

usually your debts have that way your

income and you're just not making a lot

of money and you can file a chapter 7

for individuals and business entities

and they'll go away usually takes about

six months total from the

that you file and get discharged in

front of it the treasurer the treasurer

were the trustee excuse me the trustee

and then they'll send you something in

the mail later and says hey it's all

good it's all good because if for some

reason you just like it's a lot of doing

that period of time after filing

bankruptcy or somehow you get a big

windfall then they're gonna come after

that money and you're not gonna be able

to file bankruptcy so this is typically

the one that people are doing they're

getting out of their debts okay but it's

gonna have a lingering effect yes you

can dispute it yes you contention have

it removed but it's gonna take some time

Ryan you're gonna have to go through

some loops and follow some hoops right

chapter 13 is a reorganization so a lot

of people get to keep their houses their

cars and they be their books they're

basically trying to pay off their debts

for less than one that was okay then the

seven they might take assets and my

liquid date it's a liquid say full

liquidation liquidate assets so you

might lose homes and cars and things of

this nature now thirteen usually pay

back over years and years and years you

can usually take off liens from homes

things of this nature and people gotta

stop harassing you now the reason why

this is talking about man this is why I

say don't file for bankruptcy

it's my spicy soup of the day in okay

the reason is they don't file for

bankruptcy it's because unless they're

suing you which they may Haley mine or

they might try and repossess your car

something like this and a bankruptcy

will stop repossessions like that unless

you really absolutely have no other

choice

you could escape for a little while

right and you could let this go to

charge off you can let certain things in

a hey look I'm not a financial planner I

don't know your financial situation and

I'm telling not telling people not to

pay what they can pay but look if you're

really struggling and like many of us

have and many people are scraping by to

get by I know I've seen that I've been

there okay man I've been there alright

if you really can't afford and you

stopped paying let's say you stopped

paying it goes to a charge off status it

goes the collections many people have

been in that situation and have gotten

themselves out of it by disputing it

okay by making sure they don't get

judgments against them that's the big

thing

all right and a lot of this money is

funny money without getting too crazy

and being all cooked up conspiratorial

when you really think about it were

exchanging money and it's kind of funny

money anyway a lot of people are doing

online banking and debit cards

transaction and credit card and now

we're even getting into crypto it's even

further away from any type of real asset

so when you really boil it down whoo

you're not really harming anyone this

big banks are printing money they're

making they literally make money they

letter print money to make money so

they're doing fine they have their

insurance they make claims this other

collectors or then you know buying

pennies on the dollar this whole

portfolio and then they're asking people

to pay that some people do pay and then

they're making money too that's a very

the billions and billions of dollars

right but we're on the other side man

we're fighting these two guys we don't

wanna give this gene where's me not

funny nothing so that would be my go-to

right people ask there and I've haven't

really commented too much on that should

I file for bankruptcy well it's your own

personal thing and it's your own

personal what you need and yes it is but

I'm saying come on man you probably

don't need to you probably can now

you're gonna have to deal with some

stuff in the meantime people are

probably gonna be calling you which you

can file a letter to them cease and

desist they gotta stop talking to you

okay so it doesn't stress you out at you

and your home and your family and all

that stuff okay and they have to buy the

Fair Debt Collection Practices Act and

they can be fined and suit if they don't

so you file you send them to cease and

desist letter so they don't bother you

so you have to only only if they're

going to file a lawsuit against you do

they contact you by phone or mail okay

other than that almost correspondence

does need to be done in the mail with

the cease and desist they can't be

calling you where you can find them you

could take them to court and so then

that settles things down and then you

can figure things out do I really need

to file bankruptcy well maybe not I

could probably keep my home and it seems

like it's okay maybe they're gonna

foreclose maybe I can sell it maybe I

can do that you have options that's your

very last resort because it could mess

your credit up for a while and then

you're gonna have to go through that six

month waiting period or payback for on

the thirteen for you know two three

years and then you can dispute that

sucker and try and get that off so

collection letters validation letters

pay for deletion letters debt

consolidation letters asking for an

original instrument of indebtedness to

see if you actually have to pay asking

for contracts asking to see some fight

fight fight fight fight fight because

you may come out the other end much

better than where you were before and if

you do file bankruptcy let me tell you

something if you do file bankruptcy look

it's not your fault none of this is your

fault I'm gonna tell you this right now

none of this is your fault if anyone's

coming to this channel now is

subscribing and please do subscribe I'm

here to tell you that this is not your

fault I don't care I don't care if you

charged us a bunch of TVs and watching

TVs or have video games at home or

whatever or you were taking vacations or

whatever okay and being silly with it

you probably weren't taught how to

manage your money okay you probably just

weren't talking how to manage your money

it's not your fault that you might have

gotten laid off from your position at

work or there are no jobs or that you

didn't have the education or you can't

get access to certain things that other

people do it's not your fault so listen

to me if you have the file bankruptcy

just didn't know how to manage your

money if you have to do you know deccan

debt validation letters and let things

go to charge-off it's not your fault you

probably just didn't know how to manage

your money and no one taught you and

even if they did there's a whole

industry out there designed to make you

purchase and behind whatever or maybe

you have medical bills medical issues

like I had her maybe you didn't have the

if you didn't have the student loan

repayment like I mean the military like

I thought I did you know I thought I

really I really thought I had student

loan repayment I thought it was in my

contract and I've had other individuals

contact me in the military you know

maybe there was a communication error

somewhere along the line with some of

your loans and your debts and whatever

your home maybe you were had that teaser

rate back in no 8 and you know it went

through the roof in these variables

stuff and credit card sort 25 first I

was looking at one of these credit cards

it was like 28% on one of these things

okay so it's crazy

so look alright

and let's not gets wrapped up in this

too much okay we're gonna have fun we're

gonna get you out of debt we're gonna

repair your credit you can be traveling

the world getting business get trade

lines for whatever you want doing

whatever live in the life your dream it

is possible and to facilitate that six

or nine credit pair comm or the Austin

Life Group comm we can do it for you

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