Give Your Creditors An Offer They Can’t Refuse

Some bitter people have said that Al Capone was the only person who knew how to celebrate Valentine’s Day appropriately.  For those who do not remember, Al Capone is believed to have led the St. Valentine’s Day Massacre where seven members of a rival gang were killed.

Al Capone gave his creditors an offer they couldn’t refuse.

Now I’m not suggesting that you go over to Bank of America armed with a Tommy-gun and take matters into your own hands, nor am I suggesting that you should hire someone to go to your mortgage lender to break their kneecaps (not that your lender wouldn’t do it to you if it were not for the FDCPA), but what I am suggesting is that you are not powerless in your debt situation, in fact you can give your creditors and offer they can’t refuse!

Your creditors may not be required to cooperate with you, but they must cooperate with the bankruptcy court.  Your creditors may not be required to treat you with courtesy but they must respect the bankruptcy code.

I had a client in my office this weekend who was shocked to learn that the bank must comply with a confirmed Chapter 13 bankruptcy plan.  They were also surprised to find out that the bank may not call to collect on debts once a bankruptcy case is filed.

The reality is that once a bankruptcy case is filed an automatic stay is put in place which makes it illegal for a bank to continue collection efforts.   That’s right, illegal!

Bankruptcy isn’t for everyone and some people may not even qualify, but before you go paying a small fortune to a debt settlement company or a mortgage modification, go see a bankruptcy attorney, Because only a bankruptcy attorney can give your bank an offer they can’t refuse!