Working With A Bankruptcy Professional

How To Prepare For Your 341 Hearing During A Chapter 13 Bankruptcy

4 November 2015

The best person to help you navigate through all the complications of a Chapter 13 bankruptcy is always your bankruptcy attorney, but there is plenty that you can do to prepare yourself for the significant events that happen in the course of the bankruptcy. Anyone who files for Chapter 13 bankruptcy will be told to report to a 341 hearing. This kind of hearing is commonly referred to as the Meeting of Creditors.

What The 2005 Bankruptcy Law Changes Did To Restructure Debt And Debt Settlements

28 October 2015

Prior to2005, debtors could consistently take advantage of the bankruptcy laws and file multiple bankruptcies within several decades. This meant that many creditors would extend credit to these individuals, only to have them abuse the legal system to eliminate the debt. The bankruptcy law changes in 2005 did not change the way people file for bankruptcy, only how they could file and the types of bankruptcy that could help them out of debt.

4 Mistakes To Avoid When Filing For Bankruptcy

14 October 2015

Filing for bankruptcy may be the only option for many people when it comes to settling debts and other financial problems. However, there are many mistakes that people can make when filing for bankruptcy that can potentially ruin their chances at receiving a bankruptcy filing. Here are four mistakes that you must avoid when you are filing: Giving Away Property: Before filing for bankruptcy, some people will transfer the title of some of their assets to other people, such as family members.

What To Do After Filing For Bankruptcy

14 October 2015

Following a bankruptcy claim, you will need to do everything you can to start to fix the damage to your credit. You will want to avoid some of the pitfalls that got you into the financial trouble in the first place, so here are some tips for what to do after filing for bankruptcy. Start Living On Cash When you file for bankruptcy, you will have to immediately start paying close attention to your finances to ensure you stay within budget.

Seeking Redemption: Do You Have To Honor Customer Gift Cards Under Chapter 11 Bankruptcy?

9 October 2015

How your business handles outstanding gift cards and gift certificates during a Chapter 11 bankruptcy reorganization depends on the court's orders, and not on whether you want to retain the goodwill of your customers and the general public. If you plan to keep your brand on the market, it makes sense to honor gift cards. If you plan to liquidate, there's not as much incentive unless you're compelled to do so by the courts.

Why Getting A Secured Credit Card Is A Good Idea After Bankruptcy

9 October 2015

Chapter 7 bankruptcy can be a good solution for debt problems, but it also has negative effects when it comes to your credit. If you want to rebuild your credit after you file, you may want to look into getting a secured credit card. Here are two things you should know about this. How does Chapter 7 affect your credit? As soon as you file for Chapter 7, the credit bureaus will be notified.

Can I Keep My Disability Payments During Bankruptcy?

9 October 2015

If you file for chapter 13 bankruptcy, you will be subject to a payment plan where some of your future income will go towards repaying your debts each month. Many people have questions about how to navigate chapter 13 bankruptcy if they have social security disability income. In some cases, bankrupt individuals have been successful at arguing to keep their social security disability income. Here are some guidelines for keeping the maximum amount of your income with social security disability earnings.