How can a Deed in Lieu of Foreclosure Create Debt Relief?

A Deed in Lieu of Foreclosure is an option for some homeowners who have fallen behind on their mortgage payments. In essence, this option will cancel the loan on the home for the home buyer, as he or she will give the deed (ownership) of the home back to the lender. It's different from a foreclosure because it's a straight-up deal -- an effort to avoid foreclosure is beneficial to the consumer and the lender because they both get something out of it -- the consumer gives up his home to avoid foreclosure, the lender accepts the deal to avoid losing profits on a property.

In most instances a deed in lieu of foreclosure is easier on consumer credit history and has a distinguished advantage above short sale in that the homeowner is not the responsible party for finding a new home buyer.

While it may not be easy to just walk away from an investment, it may be easier to walk away than enter a short sale, which is very damaging to credit history, or accepting foreclosure, which is also harms credit substantially.

If you can successfully offer your lender a deed in lieu of foreclosure, you'll have to walk away from your property completely, but it will in many instances be your best choice. You may still have to file for bankruptcy in certain circumstances, for example, if the home was what you used to collateralize debt with another lender, or if you are still left behind on other payments on car loans or credits cards.

It might be up to you to prove to your lender that the deed in lieu of foreclosure is good for them too -- they're not in the habit these days of wanting to hang on to more real property, but by the same token, they're not big on paying for all of the paperwork and rigmarole of foreclosure either.

If you think this is a viable option for you, discuss it with your bankruptcy attorney first to be sure there are not other choices that won't work better for you.

Blockbuster not such a Blockbuster anymore

Remember the days when the whole family would pile into the car to drive down to Blockbuster and pick up a family-friendly movie to watch after TGIF on ABC? Ah, the golden age of Blockbuster -- in deed the golden age of entertainment before the Intenet -- certainly before YouTube.

As with all things tangible that we can drive to, with the exception of buying clothing, food, and gasoline, Blockbuster is rumored to be the next giant to fall into bankruptcy. It doesn't come as a surprise; even with the advent of their online availability, Blockbuster was simply piggybacking on the NetFlix idea, which caught on like the British Invasion... and so the Internet option for Blockbuster was overlooked for most move renters.

The Blockbuster bankruptcy is not a sure thing -- the company is doing everything it can to avoid chapter 11, including meeting with Hollywood bigwigs and making stronger efforts to compete with RedBox. But all that said, most financial experts agree that a bankruptcy filing or at least some pre-bankruptcy steps will be taken as early as the middle of September 2010. Right now Blockbuster mouthpieces are not saying "bankruptcy" outright, but what they are saying is something along the lines ofd "financial restructuring -- essentially code for bankruptcy with a plan for growth during and after. So what's next for blockbuster pre, during and post-bankruptcy? Likely rebranding efforts to compete with RedBox in a similar fashion with kiosks in familiar places like Walmart, etc. as well as an aggressive knock on Hollywood's door to secure some sort of proprietary partnership that competitors like RedBox and NetFlix won't be privy to.

They may just pull it off. Just as Tom McAvity and other knowledgeable bankruptcy attorneys will tell you, bankruptcy can be the best way to turn a financial future around, and in the case of Blockbuster, it may give them just the time they need to get some actionable marketing steps going to keep from going under.

Rangers Bankruptcy | is it keeping them from signing free agents?

According to a recent article in BizJournal the bankruptcy filing of the Rangers Major League Baseball club is having difficulty signing both new free agents and international ball players who previously may have signed with the team undaunted. Nolan Ryan, the president of the Rangers ball club was the first to admit the bankruptcy's long reaching and heavy hitting aftershocks. Could this push the Rangers into further financial issues? After all, if the team can't win games because they are not competitive it will obviously eventually cost them endorsements and commercial sponsors.

Tom McAvity and other lawyers around the country know that filing for personal bankruptcy is a good choice for individuals who are in insurmountable debt caused caused by an upside-down mortgage, medical bills, and credit card bills. But what can bankruptcy mean for big business? As we have seen with the Rangers, the effects can be serious, and perhaps baseball is a good metaphor for what can happen with other large businesses with a great deal to lose financially.

Consumers should understand that personal bankruptcy and corporate bankruptcy are very different. For those seeking debt relief in Vancouver or Portland, Tom McAvity can help you with a free consultation. Are you ready to hear about your options in bankruptcy? Simply dial 1-866-601-1918 to set an appointment with Tom McAvity today.

Tom McAvity :: What is a Bankruptcy Discharge

In the world of Oregon and Washington bankruptcy, a bankruptcy discharge is the same as it is anywhere else in the country. Here's the breakdown from Tom McAvity.

By definition, a discharge in bankruptcy means a legal release from debt owed to creditors. But there is a wider-reaching implication to a bankruptcy discharge in Vancouver or anywhere else. For example, one of the many implications regards creditors and collectors.

Once your debt has gone into discharge, creditors are no longer allowed to contact the person whose debt has been discharged. There are however some misconceptions. For example, there may be debt owed by a consumer that is NOT a part of their bankruptcy discharge. In this instance, not only will the debt still be owed, but the creditor to which the debt is owed may still contact the consumer. Tom McAvity can help explain what your discharge will include and/or not include based on your unique bankruptcy case in Salem or Portland, OR and Vancouver, WA.

Call Tom McAvity today for more information on bankruptcy discharge and how it could help your financial circumstances.

Chapter 7 Bankruptcy in Vancouver, WA

Though Tom McAvity has posted a thorough YouTube video on this blog previously, it's always a good idea to have a refresher course when it comes to bankruptcy because consumers need to have at least a cursory understanding of what it means to file for chapter 7 bankruptcy in Vancouver, WA.

So what is chapter 7 bankruptcy? What are the implications exactly? Chapter 7 discharges a consumer from his or her debt entirely, allowing him or her to "walk away from" the debts owed to creditors. It is a permanent decision once enforced by the bankruptcy court under federal bankruptcy statutes. Tom McAvity can tell you that by removing all the debts a consumer owes, creditors are no longer allowed to call, e-mail, or otherwise attempt to contact the debtor who has filed for chapter 7.

There is great protection in chapter 7 if the shoe fits for your particular bankruptcy needs. If you'd like to speak to Tom McAvity and get a feel for what filing for bankruptcy in Vancouver can do for you, please call our Vancouver office by dialing 360-828-0110.

Declaring Personal Bankruptcy in Salem, OR

NWDRLF and Tom McAvity can tell you that all of the same rules for filing personal bankruptcy in Oregon apply in Salem just as they would in Portland and other cities. People often have many of the same questions for Tom McAvity about declaring personal bankruptcy in Portland, so let's take a moment to answer a couple of those questions -- we will get to other important questions in later posts.

The first of two questions about bankruptcy we'll discuss is, "Does filing bankruptcy have a strong negative impact on my credit?" The answer to this question is that most likely, the fact that you are having to file for bankruptcy means that your credit is already in relatively bad standing. While bankruptcy clearly has a short-term negative impact due to the fact that it offers you a brand new clean slate, many who file have recovered a decent credit score within two years or less.

The second common question is, "Will I be able to maintain ownership of property like my home and car if I file for bankruptcy in Salem, OR?" The answer to this question is this: as long as you have equity in the property that is completely exempt you WILL be able to maintain ownership of your home and other larger assets if you file for bankruptcy. You will be held responsible for making payments to the bankruptcy court over the course of a three- to five-year payment plan. Tom McAvity will help you set up this bankruptcy payment plan with a trustee of the court.

Bill Collector Harassment | Tom McAvity Suggestions

When faced with bill collector harassment, you do have options. There are some collections agencies who will inaccurately tell you that you are not eligible to file for bankruptcy. Whether or not you are entitles to bankruptcy is not up to collectors -- it is a matter between you and your bankruptcy attorney. You may or may not be eligible based on a number of unique circumstances. That said, Chapter 7 and Chapter 13 are great tools for debt relief for a number of people.

Tom McAvity and Northwest Debt Relief Law Firm can tell you what options may best suit your needs based on the various aspects of your financial circumstances. There are many options in debt relief outside of bankruptcy, and you can discuss these options with a debt relief counselor or attorney who knows the ins and outs of the laws.

You do have fair options available to you -- it's your right as a consumer to seek aid in the form of bankruptcy or other forms of debt relief. Tom McAvity can help you discover what your options are. While many argue that bankruptcy is not a viable option, it is an extremely effective way for consumers just like you to create a fresh start and get credit card debt and mortgages under control.

If you're considering your financial options and would like to hear more about bankruptcy and debt relief, call Tom McAvity at NWDRLF today by dialing 1-866-601-1918.

Portland Bankruptcy | Does Bankruptcy Clear Student Loans?

According to a recent New York Times article written by Ron Lieber, the current state of bankruptcy law makes it extremely difficult if not impossible for most people to wipe out student loans with bankruptcy filing. Tom McAvity has been following the trends, and it appears as though a number of congresspersons are determined to help people get rid of student loan debt with bankruptcy, especially in cases where loans were disbursed from lenders such as Sallie Mae.

While we wait for more fair rulings where student loans and bankruptcy are concerned, many people struggle, knowing that they can't pay their mortgage, car payment, and other lines of credit in addition to their student loans. For these people, Tom McAvity can assess their unique situation and determine if bankruptcy filing in Portland will help to lessen the financial burden -- even if student loans are not wiped out by bankruptcy.

In his New York Time article Ron Lieber argues that it's insanity that a person can wipe out the debt they owe on an expensive luxury car while someone who simply wanted to educate himself is unable to clear a debt for having done so.

If you are struggling with debt associated with student loans in addition to a an ARM mortgage and/or other heavy debt, Tom McAvity can tell you there is hope through debt relief. Bankruptcy may be a good fit for you. To find out, call 1-866-601-1918 for a FREE bankruptcy consultation.

Bankruptcy Attorney Tom McAvity: May 2010 Bankruptcy Filings Highest in 5 Years

If you didn't believe that bankruptcy had become a wise choice for millions of Americans, the you may want to consider what the Reuters recently reported. According to the Reuters article by Jonathan Stempel, bankruptcy filings for May 2010 fell into the second highest number of filings in the U.S. since 2005. What Stempel tells us is that just because the markets may be on the rise in some sectors, this is not a direct reflection of what the average American is going through financially.

Stempel quotes Mike Bickford, president of AACER as saying, "Just because the economy gets better doesn't mean that consumers can work off cascading debt problems that surfaced earlier," So what does this mean? The bottom line is that this is the truth. Bankruptcy is a viable option that many people who should are not taking advantage of. Some out of fear, some out of shame, some because they don't want a bad credit report.

Tom McAvity and NWDRLF can tell you that your credit score will only improve if you are a candidate for bankruptcy and you use it as a tool to reorganize your debt before it spirals completely out of control. You have options -- and not only are they there for you, you are entitled to them as a consumer. Make use of your options. Get a fresh start with the help of Tom McAvity.

Everything we need to know about the reality of this economy is out there -- millions of people need help, and the Northwest Debt Relief Law Firm and Tom McAvity want you to succeed and repair your credit. Call today for a FREE bankruptcy consultation by dialing 1-866-601-1918.

Vancouver Bankruptcy: Credit After Bankruptcy is Possible

One of the most common reasons by far that people don't file for bankruptcy is that they live under the misconception that bankruptcy will keep them from ever being able to attain credit again. This is simply not true. As a matter of fact, the sooner you get your finances organized, the more likely you are to be eligible for new lines of credit sooner. That's where filing for bankruptcy with bankruptcy attorney Tom McAvity comes into play for your family's financial health.

Tom McAvity has experience helping hundreds of people just like you. Lenders like to see that consumers are making -- or have made an effort to get back on track. The very word "bankruptcy" is taboo even today, but it ought not be. Those who do qualify for bankruptcy in Vancouver who take it seriously, stay organized, and make their payments on time will be surprised at how quickly they are back on their feet in terms of credit eligibility.

Tom McAvity and NWDRLF can help you begin the Chapter 13 debt reorganization process, or get you started with a Chapter 7 bankruptcy. Which type of bankruptcy is most appropriate for you will depend on your unique financial circumstances.

If bankruptcy is right for you, the fresh start it provides will lift a weight off your shoulders. NWDRLF offers free bankruptcy consultations. Get started today by dialing 1-866-601-1918.

Vancouver Bankruptcy Blog: 10% of US Homeowners 60 Days Delinquent

As May draws to a close, new reports suggest that approximately 10 percent of all home loans are delinquent in the U.S. by 60 days or more. The Mortgage Bankers Association noted that in addition to the national average of 10 percent, percentages in Nevada and Florida are trending closer to 20 percent.

Tom McAvity and the bankruptcy attorneys at the Northwest Debt Relief Law Firm know that this is not new news, and that this trend has been rather consistent for several fiscal quarters. For people seeking some kind of relief that just don't know where to turn, the smartest choice may be filing bankruptcy in Vancouver.

While filing for bankruptcy may not be the best option for everyone, for those it can help it helps immensely. By now most people who keep up with the news know that Chapter 13 bankruptcy is a popular choice for those facing foreclosure. If this shoe fits, it allows those who file to consolidate their debt (all credit cards, house payments, car payments, etc.) into one payment that is overseen by a trustee of the bankruptcy court.

If this is the right choice for your circumstances, bankruptcy attorney Tom McAvity can help you file your bankruptcy in Vancouver, WA, or Salem and Portland, OR. Many people may not realize it, but bankruptcy is a very wise choice for many. If you're eligible to file for Chapter 13 bankruptcy, let Tom McAvity and NWDRLF help you today. All you have to do is pick up the phone and dial 1-866-601-1918 for your free bankruptcy consultation.

Vancouver, WA Bankruptcy Attorneys can Help You

If you have been contemplating bankruptcy and think you'd like to begin the process but just don't know where to begin, it is time for you to contact Vancouver, WA bankruptcy attorney Tom McAvity. There are many options, and you likely have not been presented with all of the debt relief options you may be eligible for.

Most consumers with a great deal of debt, whether from credit cards, medical bills, or an upside down mortgage will be eligible for either Chapter 13 or Chapter 7 bankruptcy filings. There are other options, such as home loan modification, debt consolidation, and other debt relief options. Tom McAvity and other bankruptcy attorneys with Northwest Debt Relief Law Firm will not know which of these options best suits your unique financial needs until he or she has reviewed your information. The good news is that all NWDRLF consultations for bankruptcy are free, and you will have 24-hour access to your case file through our secure online portal.

We know that you probably don't know what lies ahead for you and your family financially, and we also know how scary that can be. But what bankruptcy offers is a fresh start, and a way for you to step out of that fear and move on with your life. Tom McAvity and the NWDRLF want you to have a fair chance at a great future. Call us today for a free bankruptcy consultation by dialing 1-866-601-1918.

You're not Alone: File for Bankruptcy in Salem, OR

Many people are scared to file for bankruptcy because they just don't know exactly what it entails or what it will mean for their financial future, or worse, what people may think of them for filing bankruptcy in Salem, OR.

Thomas McAvity and the team at NWDRLF can tell you that this is a common concern -- but the good news is that it shouldn't be. There are many misconceptions about filing for bankruptcy, and chief among those concerns is reputation. Did you know that when you file for bankruptcy it is completely confidential? What that means is, unless you tell people, no one will know -- not your friends, work associates, family members, neighbors, or anyone else.

The Northwest Debt Relief Law Firm and Thomas McAvity are dedicated to helping you get a fresh start with Chapter 7 or Chapter 11 bankruptcy in Salem, OR, or in the Portland, Oregon and Vancouver, Washington areas. These three bankruptcy offices will meet all of your needs, anytime night or day.

If you have been living in fear of bankruptcy because you just don't know what is fact and what is fiction, you need the help of a qualified bankruptcy attorney like Thomas McAvity. Call NWDRLF today to have your questions answered and get on the road to better financial health today! 1-866-601-1918

Foreclosure Notice: What do You do Now?

So you got the foreclosure notice, and even if you saw it coming, your heart probably sank -- holding the papers in your hand makes it very real. But you're not alone and you do have options for debt relief in Vancouver. Tom McAvity and the Northwest Debt Relief Law Firm can help you, so start the process as soon as possible.

Foreclosure notices can make homeowners feel like they are under the microscope, but pulling the ostrich routine is not the answer. Do not ignore the foreclosure notice, even if you have decided to let the house go. You see, if you take action now rather than waiting for the creditors you owe to take action you may be surprised to find that you are in a far better situation than you thought, and you can seek debt relief with Chapter 13 or Chapter 7 bankruptcy, depending on your financial situation. Tom McAcvity can sort through your information and determine what you're facing financially as well as in terms of your foreclosure.

There are always options in debt relief, but you may rob yourself of those opportunities if you don't take action in time. Help Tom McAvity help you. When you contact the Northwest Debt Relief Law Firm you will get a FREE consultation and 24-hour support, so call today: 1-866-601-1918.

Tom McAvity tells us how Chapter 13 Helps with Foreclosure

Vancouver bankruptcy attorney Tom McAvity can help you stop the foreclosure process on your Salem, Portland, or Vancouver home. This allows you and your family to deal with the other debts that could be contributing to potential financial fallout.

The protections offered by the U.S. Bankruptcy Court are not in any way influenced or dependent upon any agreements with any financial institution holding a mortgage. When you meet the requirements laid out in bankruptcy law, you will be eligible for help without a doubt. Well-seasoned bankruptcy attorney Tom McAvity and the law team at NWDRLF can tell you if you qualify for bankruptcy and what is necessary to begin the process. If your bankruptcy lawyer notices that other options apply, he will tell you during the pre-bankruptcy process. can often let you know during your initial free consultation with

If filing bankruptcy in Washington is the best option for you, you won’t learn about it until you speak to a qualified bankruptcy lawyer, such as Tom McAvity. Chapter 13 bankruptcy in Vancouver can stop the foreclosure process and allows you as many as five years to get current with all of payments you've missed. Chapter 13 can also dramatically reduce – or even eliminate – personal loans and credit card debt so that you have enough freed-up income to make your house payments on your new plan. Consider Chapter 13 before you consider other more costly and less effective approaches.Call NWDRLF today by dialing 1-866-601-1918.

Ask Tom McAvity: Okay, Filing Bankruptcy is for Me… Now What?

Once you realize bankruptcy is the right choice, chances are you'll want to get started right away – but Tom McAvity will tell you that while bankruptcy in Salem may be for you, it doesn't happen overnight. As soon as you’ve decided on bankruptcy, stop charging up any credit cards under your name – quitting charging altogether is recommended. The bankruptcy court will review your credit history for the past 90 days, and this will include a review of your credit card history. This is done to establish whether or not you're trying to start making better financial choices as a preliminary step to filing bankruptcy in Vancouver.

Add up the total income brought into the house each month. Review the difference in what you make versus what you owe in general and on a monthly basis. If you are running out of money at the end of each month, bring evidence of this to bankruptcy lawyer Tom McAvity. Your bankruptcy attorney needs to know how things are going for each and every 30-day period to plan your bankruptcy filing in Vancouver or Portland.

If you’re ready to begin the pre-bankruptcy process, call Tom McAvity by dialing 1-866-601-1918 for a free bankruptcy consultation. Our experienced Portland and Vancouver bankruptcy lawyers can help you get started with your bankruptcy.

Can I File Bankruptcy if I Already Have Before?

You can still file for bankruptcy in Vancouver or Portland after having filed previously, so long as you meet the requirements for another bankruptcy (either Chapter 7 or Chapter 13 personal bankruptcy. With Chapter 13 you may refile bankruptcy again after two years, but the new bankruptcy must also be a Chapter 13.

In addition to the above caveats, you must:

• have lived in Oregon or Washington for at least 90 days to file Chapter 13
• petition for Chapter 13 bankruptcy with the appropriate bankruptcy court
• await the bankruptcy court's acceptance of your petition -- they will send you a notice listing all of the creditors you owe
• await the court's appointment of a trustee to your bankruptcy case -- if you haven't heard anything and you feel you should have, get in touch with Thomas McAvity, your Vancouver bankruptcy attorney right away

Anything beyond this will depend on your unique bankruptcy case -- as they say about snowflakes, each of us is different, and so are our bankruptcy filings.

Above all, what you need to understand more than any of the confusing details is that there is help for you, you are entitled to it, and you can reach out to bankruptcy lawyer Thomas McAvity for help. A healthy financial life is in your future, but you have to choose it for yourself before anyone can help – but once you choose, help will be on the way.

Please call Thomas McAvity and the NWDRLF team by dialing 1-866-601-1918 or simply click here to send an e-mail directly.

Thomas McAvity's Common Bankruptcy Myths

The Northwest Debt Relief Law Firm (NWDRLF) and Thomas McAvity know that there are many people who wish they could file for bankruptcy but they either fear to take the plunge or they are so paralyzed with fear of being judged that they simply don't do it until they have no other option.

The truth of the matter is that bankruptcy may not look like the most attractive option at first, but in many cases, it is. Bankruptcy can offer a fresh financial start, and contrary to myths about bankruptcy, Tom McAvity can tell you, restoring credit after a Chapter 13 debt reorganization will not take the eons that the urban legends would have you believe.

Another myth that ought to be dispelled right away: many people who are ready to file for bankruptcy fail to do so because they think it will be common knowledge -- that they will be rallied around the town square with eyes all over them. Not so. Bankruptcy, whether it is a Chapter 7 or Chapter 13 will not be a public matter. These types of bankruptcies are between you and your bankruptcy attorney, your creditors, and the bankruptcy court.

Tom McAvity encourages you to look into your options as opposed to believing all the hype that surrounds bankruptcy these days. After all, there would hardly be so much to talk about if it wasn't so profoundly popular a choice for so many.

Tom McAvity's Chapter 7 versus Chapter 13: which works for you?

Have you ever been told -- whether to your face or through experience -- that bankruptcy is a bad thing? Perhaps you've been told or made to understand that filing for personal bankruptcy is bad for your reputation. Tom McAvity is here to tell you otherwise.
Personal bankruptcy, whether it is a Chapter 7 asset liquidation, or a Chapter 13 reorganization of debt, can both be good if they are geared toward the proper candidate.
When faced with financial hardship that is costing you more than it should financially, emotionally, and mentally, the time comes to consider one of these two types of bankruptcy.
Tom McAvity and his team at NWDRLF can help you to decide which of these two options in personal bankruptcy makes the most sense for you. Some of the deciding factors may be:

• Are you a sole proprietor of a small business?
• Are you a homeowner behind on mortgage payments?
• Do you own commercial and/or other real property?
• Are your bills mainly due to credit card debt?
• Are you behind on bills but think you could catch up if you could just catch a break?
• Have you been laid off or had a layoff in the family?

Tom McAvity will look at the answers to these questions and tailor either a Chapter 13 or Chapter 7 bankruptcy plan that will serve you and your financial future best.

You can always direct any questions you have to Tom McAvity by contacting NWDRLF at 1-866-601-1918. Please, let us know how we can help you today!

Want to Know Who You Owe?

It's actually quite easy to find out who you owe money to -- and it could be creditors or collecetions agencies that you've forgotten about, never heard of, or who should have been removed from your credit report because you resolved the debt.

Tom McAvity recommends pulling a yearly credit report from all three credit bureaus. You are entitled to these credit reports free of charge under the Under the Fair and Accurate Credit Transactions Act.

If you are ready to file for bankruptcy in Salem, Oregon or Vancouver, Washington, Tom McAvity and the legal team at the Northwest Debt Relief Law Firm (NWDRLF) are happy to assist you with everything you'll need to get started. They offer a free initial consultation and legal support that is second to none. You'll need help understanding how to do your pre-bankruptcy "homework" so that filing bankruptcy in Portland or Salem, Oregon can be done efficiently and accurately.

NWDRLF and Tom McAvity offer 24 hour support in the form of an Internet portal where you can log in and check on your personal bankruptcy status any time, day or night.

So get started. Get your free credit report from www.AnnualCreditReport.com and get a feel for the ins and outs of your credit score and credit history. Once you've done this you'll have a much clearer idea of what you're up against, who you owe, and who you may have to file disputes with. It's fast, easy, and worth doing at least once every twelve months. Checking your credit report and score is like having a physical exam -- if you don't go to the doctor there's no way to know for sure exactly how healthy you are. Check your credit, and file for bankruptcy if you need to -- get more information on exactly how to do this by contacting NWDRLF at 1-866-601-1918.