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Dealing with debt and rising prices? Lancaster attorney David Lozano advises you to keep a budget!

Everyone has a different grocery shopping approach–some make a list, others go in and shop for whatever looks good, some plan their shopping trip by clipping coupons and waiting for the biggest sales, others shop for what they need for the week. Whatever their shopping style, however, all shoppers will be affected by the increase in food prices this year!

There is a predicted 2% to 3% rise in food prices for 2011! According to Rick Plumlee, the break down of prices goes like this:

“Beef increased nearly 6 percent through Sept. 30 over the end of the third quarter in 2009. Pork shot up 10 percent, and fresh vegetables increased more than 4 percent. And then there are eggs. They jumped 11.3 percent, in part because of a salmonella outbreak in August at two Iowa farms.”

With the economy the way it is, any increase in prices is cause for concern! Gas prices are already causing people to pull their hair out. Although the government has turned to using ethanol fuel to try to keep the price of gas down. But wait, ethanol is made from corn! Do you know how many foods have corn or corn syrup in them? Not to mention how corn is used as feed for chickens.

As a bankruptcy attorney, I look at things from the perspective of my clients. Dealing with debt makes even the slightest jump in prices a nightmare! I advise my clients to practice good budget management. By sticking to a budget, my clients can take advantage of the times when prices are good and make do when they aren’t! Visit our Lancaster location today for a free consultation!

David Lozano, Attorney at Law
Contact me today for a free consultation
800-974-5680/Se habla español

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Does filing bankruptcy affect student loans?

A common question I get from my clients is if filing bankruptcy will have any effect on their student loans. Unfortunately, filing bankruptcy does not eliminate or reduce your student loans. The U.S. Bankruptcy Code states that only “undue hardship” is grounds for discharging student loans. Now before you start planning your appeal saying that you are facing “undue hardship”, I should tell you that the Code’s definition will settle for nothing less than permanent and total disability.

While filing bankruptcy does not discharge your student loans or prevent interest from accruing on the loans, there is a ray of hope. Filing bankruptcy will give you a little extra time–up to five years–to get your finances straightened out and possibly catch up to the point where you are able to pay off your student loans! You can do a lot of things in five years if you set your mind to it!

Pursuing the career you took those student loans for may be the key to paying off your loans as well! Don’t let student loans interfere with your goals in life! Contact me for a free consultation. It’s never too soon or too late to seek professional advice on settling your debt!

David Lozano, Attorney at Law
Contact me today for a free consultation
800-974-5680/Se habla español

Do you give yourself and your credit card enough credit? (Bankruptcy attorney David Lozano sheds a little limelight on the subject!)

It is probably safe to say that the majority of Californians are credit cardholders. The U.S. Census Bureau recently collected data on the number of credit cardholders there were in the United States and found that there were 159 million in 2000 and 176 million in 2008. With this data, they then estimated the count for 2011 to be 183 million. I’d like to think these astonishing figures support the idea that Americans are, in general, becoming more financially responsible!

Getting your own credit card is almost like a right of passage for many young adults. It symbolizes that they are–or at least have the potential to be–financially responsible. When managed correctly, a credit card is a useful and often beneficial method of payment. Some credit cards even come with rewards or cash back on essentials, such as groceries, gas, dining, or travel.

There are many brands of credit cards offered by different companies, but did you realize there are just three basic types of credit cards?–unsecured cards, high risk cards, and secured cards.

An unsecured card is most commonly offered to individuals with a good, solid credit history. These cards do not require cash deposit and have no collateral loans. High risk cards often go to people who have a slightly less polished credit history. These cards tend to have an activation fee, annual fees, and late payment penalties attached to them. The last type is a secured credit card, which comes with steep annual fees and late payment penalties. This type of credit card functions similarly to a debit card in that you need to have a certain amount of cash in an account as “insurance”.

When it comes to credit cards, there are many options out there. But no matter what type of credit card you have, as a bankruptcy attorney, I am equipped to handle any type of credit card debt you may have. Contact me for a free consultation on settling your credit card debt!

David Lozano, Attorney at Law
Contact me today for a free consultation
800-974-5680/Se habla español

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What about my credit score? (Hint: Bankruptcy is good for your credit score in the long run)

We can all agree that a good credit score is handy to have. So why would you risk the score you have by filing bankruptcy?

To be frank, you risk more by doing nothing. Your credit score is already hurting or you probably wouldn’t be in the pickle you’re in, right? Look at it this way: filing bankruptcy is like putting a bandage and antibiotic on a wound. If you do nothing, that wound will get infected!

So you file bankruptcy, but what about your credit report for the next 10 years? Contrary to what a lot of people think, all is not lost. Just because a bankruptcy is on there doesn’t mean you can’t improve your credit score in the meantime. In fact, the more you do to regain a healthy credit score the less likely creditors will be to concern themselves with what happened in the past. They will be more interested in whether you are staying current with your payments and managing your credit responsibly from here on out!

In fact, keep in mind that you are a better credit risk after you file for bankruptcy. Why is that? Because after you file for bankruptcy, creditors know that you can’t file again for eight years in the case of a Chapter 7 bankruptcy and somewhat less than that in the case of a Chapter 13 bankruptcy. Instead of worrying that you will file for bankruptcy, creditors will know that you are already in the process of rebuilding your credit.

So put a bankruptcy bandage on your debt so that you can begin the healing process. Bankruptcy lawyer David Lozano is your best choice for filing bankruptcy in Southern California. Please give me a call–you’ll be happy you did!

David Lozano, Attorney at Law
Contact me today for a free consultation
800-974-5680/Se habla español

Do you know the truth about debt settlement agencies?

You see advertisements for debt settlement agencies all the time. With a debt settlement plan, if you agree to pay your debt through them, the agency will try to negotiate with your creditors for a lower payment. As you may be able to tell, there are a few flaws in their claim (at least for you!).

Debt settlement agencies do not guarantee their client that they can, in fact, lower the amount of debt you owe, nor do they take into account interest fees or late charges. In the end, you could very well owe more that you did originally while the debt settlement agency cashes in!

The idea of filing bankruptcy is oftentimes seen as having a negative connotation, but I’m here to tell you the rumors you hear about the perils of bankruptcy are false! Bankruptcy claims like Chapter 7 and Chapter 13 are designed to help those who have incurred debt get a fresh start! There is no “trying” to settle your debt and no interest fees or late charges either!

The process of helping people file bankruptcy is one I’ve gone through thousands of times. After a free debt consultation, clients leave my office feeling gratified in their decision and reassured about settling their debt. If you’re going through a difficult time because of debt, contact me. I’ll be happy to take your call!

David Lozano, Attorney at Law
Contact me today for a free consultation
800-974-5680/Se habla español

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