[COLUMN] Are you overloaded with debt? –

Bankruptcy law has two basic purposes for individuals (as opposed to a business entity). The first is from the point of view of the creditors. Bankruptcy law gives creditors a common place to resolve a class action lawsuit against an insolvent debtor. What does it mean? Imagine if you will, that you owe ten credit cards for a total of $ 50,000, you had a car accident where you injured the other party who claimed $ 250,000 in damages while you committed the accident. The mistake of only getting the minimum liability coverage of $ 30,000 is that you have your own $ 20,000 medical bills that are not covered by your insurance.

hello omnicron

To top it off, as they say, when it rains, it rains. You went to a party last night and one of the attendants had just returned from South Africa with the Omnicron variant and this guy sneezed in front of your face and you two weren’t masked, both of you thinking that recall had you two months ago, you would make yourself bulletproof against this nasty virus and all of its myriad variants because Pfizer and Moderna said so, unless of course you didn’t have the unfortunate fate of being in the 1% Infection Breakthrough statistic, which you were part of the Statistical Breakthrough, now you have great difficulty breathing and now you are in intensive care, intubated and on a ventilator thinking you just made the biggest mistake of your life going to that party last night. The grim reaper knocks on your door. Imagine that for a moment.

Sacred heart of Jesus gives you life again

So you pray like you’ve never prayed before, like your very life depends on it, because you do. And the Sacred Heart of Jesus, in his infinite mercy, answers your prayers and brings you back to life! In a week, you will be discharged from the ICU and sent home to recover. In two weeks, your test is negative. You are free to Co-vid.

You return to work in the third week, but you no longer feel like working overtime, since you have now concluded that life is too short to spend all your time working and earning money. You want more quality time with your wife and children.

Common chamber in the court of BK for creditors

Three of the credit card companies have sued to recover $ 20,000 from you. The guy you injured in the car accident has filed a lawsuit to recover the $ 220,000 from you. Your insurance has offered to pay him policy limits of $ 30,000. And the hospital where you had your operation sent the $ 20,000 you owe their lawyer to collect.

If you file for Chapter 7 bankruptcy, all of your creditors will transfer their lawsuits to bankruptcy court, instead of suing you in different superior courts, and will wait for the outcome of your bankruptcy case. Your bankruptcy gives all of your creditors a common place to sit and wait for your discharge. They are required by law to stop all their collecting efforts and legal maneuvers, to be silent and to wait.

The second objective of bankruptcy law is from the perspective of the individual debtor. It offers a “fresh start” to overburdened individual debtors.

New start for debtor without accumulated debt

In the previous example, from the debtor’s point of view, it would be a good thing, not only expect a good but a good thing if he could start life over again with no debt, without the $ 50,000 in card debt. credit, without the $ 250,000 in damages owed to the injured party in the car accident, and without the $ 20,000 in medical bills. It would be great if he could start his life over without the burden of all those debilitating claims. The debtor needs $ 1500 per month just for minimum payments on credit cards. Where is he going to find $ 250,000 to pay the injured party? Should he liquidate his $ 250K out of 401K to pay the injured party?

In Chapter 7, the debtor will be able to keep their home (if the equity is not over $ 600,000, fair market value less outstanding mortgages and liens, in LA County), keep their $ 250,000 out of 401,000. intact, keep all his cars, all his furniture, in fact everything he owns, in most cases assuming exemptions apply, keep his job, in other words the debtor will keep all the good ones things while getting rid of all the bad things, getting rid of all DEBTS!

This is because the individual debtor enjoys a “fresh start” in life without the burden of accumulated debt.

From something bad comes something good. God is in control

Don’t worry, God has a good plan for you, even though something very bad has happened to you. God can and is using something the evil one has done for you to bring about something very good for you and for others. What does it mean?

Joseph is sold into slavery

In Genesis 50:20, Joseph’s brothers throw him into a well and sell him into slavery because they are jealous of him, being their father’s favorite. Their father is Jacob who is the grandson of Abraham, the father of the Israelites. Joseph was 17 when he was sold as a slave. He was brought to Egypt as a slave, but in Egypt he was falsely accused of rape and was imprisoned for 13 years.

Obviously, the evil one did a number on Joseph. But God gave Joseph the gift of interpreting dreams. The big boss in Egypt, the pharaoh continues to dream of 7 fat cows, which are eaten by 7 lean cows. He goes crazy trying to figure out what it means. So he puts on a show, Egypt’s got talent, to see if anyone can interpret his dream. No one is able to give him the right answer. Finally, the Pharaoh’s chief butler tells him that there is this guy in prison who knows how to interpret dreams, Joseph. The pharaoh summons Joseph to his palace.

7 fat cows are eaten by 7 lean cows

Joseph told Pharaoh that there will be 7 years of extreme plenty followed by 7 years of extreme famine. Then Joseph proposed to the Pharaoh that during the years of plenty, the extra produce should all be stored in huge barns so that the stored produce would be used to feed the people during the 7 years of famine.

Joseph appointed CEO of Egypt

Pharaoh appoints Joseph CEO of Egypt and responsible for the storage and distribution of the products. During the years of famine, Joseph’s brothers go to Egypt to get their food ration because there is no food anywhere. Joseph forgives his brothers and takes care of them.

So there you have it, because of something wrong done to him, Joseph is raised to the rank of CEO of Egypt and he is able to save the lives of many people including his brothers who sold him into slavery. !

This is why Genesis speaks of God’s plan for us, that he can transform something evil meant to harm us at the instigation of the evil one, into something good for us that does not help us only by many people. “As for you, you wanted to speak evil against me, God willed it for good in order to obtain this present result, to keep many people alive. Genesis 50:20

God is truly awesome and almighty!

God’s plans are to make you prosper so as not to harm you

Despite all of your troubles, you can rest assured that our God’s plans are to make you prosper, not to harm you. “For I know the plans that I have for you,” declares the Lord, “plans to make you prosper, not to harm you, plans to give you hope and a future,” Jeremiah 29:11. What could be clearer than this that God loved so that he sent his beloved only begotten Son, Jesus Christ, who also loved us thus, to die for us, to give us a chance to spend eternity with them in heaven. What a great and glorious plan for us who do not serve humans! “

Our God can and does wonders beyond our imagination. When you think that all is lost, divine intervention pops up out of nowhere to solve your problems. “Do not remember the old things, or consider the things of the past. Here, I’m going to do something new, now it’s going to arise; won’t you notice I will even make a road in the wilderness, rivers in the wilderness ”, Isaiah 43: 18-19.

Believe it or not, Walt Disney applied for Chapter 7 not once, but twice before his global Disney empire was successful. He became a billionaire after getting rid of all his debts twice. Milton Hershey of Hershey Chocolates, the world’s largest chocolate company, also filed for Chapter 7 before becoming a billionaire.

Current physical proof in progress, God is almighty

Incorruptible body of Carlo Acutis who died in 2007 at the age of 15

Look at the incorruptible body of Blessed Carlo Acutis who died at 15 in 2007. You can look at his body in Rome, Italy, now 14 years after his death. Looks like he just slept in his jogging pants and rubber shoes! This is a perfect example of a continuous sign on earth that the God of Joseph, our God, my God, is almighty and almighty that he even suspends the natural laws of biology and physics without any effort. He resurrected his one and only beloved son from death on the cross. Indeed, he has power over death.

In fact, I thought, “What would other religions believe if they actually saw the incorruptible body of Blessed Carlo Acutis?” I think even Buddha, if he were alive today, would truly believe that Yahweh is the only True God. No need to think about reincarnation and nirvana because her incorruptible body is accessible to everyone in Rome, Italy. We will not need any explanation of the effectiveness of modern mummification. Come on, man, that’s bull. The truth is in full view. Believe with your own eyes that the one true God is almighty and that his name is Yahweh, “I am who am”.

If you need debt relief, make an appointment with me. I will analyze your case personally.

Disclaimer: None of the above is considered legal advice to anyone. There is absolutely no attorney-client relationship established while reading this article.

“DIDN’T I ORDER YOU? BE STRONG AND COURAGEOUS. DO NOT BE TERRIFIED; DO NOT CUT YOURSELF, BECAUSE THE LORD YOUR GOD WILL BE WITH YOU WHEREVER YOU GO. JOSUE 1: 9

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Lawrence Bautista Yang specializes in bankruptcy, business, real estate and civil litigation and has successfully represented more than five thousand clients in California. Please call Angie, Barbara or Jess at (626) 284-1142 for an appointment at 20274 Carrey Road, Walnut, CA 91789 or 1000 S. Fremont Ave., Mailstop 58, Building A-10 South Suite 10042, Alhambra, CA 91803.

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