About Me

Working With A Bankruptcy Professional

A few years ago, when I realized that I couldn't pay my mortgage anymore, I knew that I needed to do something to correct my finances. It seemed like I just couldn't catch a break, and after losing my job, I knew that I was in trouble. I started looking for new work, but I knew that I needed to fix my credit somehow. I was at the end of my rope, until a friend talked with me about the possibility of declaring bankruptcy. She explained that it helped her to start over. I met with a bankruptcy attorney who was incredible to work with, and I was amazed at how much it helped my situation. Check out this blog to learn how working with a bankruptcy professional could help you.

Archive

Search

Working With A Bankruptcy Professional

2015

3 Signs It's Time To Let Your House Go
Making the decision to file for bankruptcy is never easy. There are a lot of things that you have to consider when filing the paperwork. One of those things is whether you are going to keep your home or not. While this is never an easy decision to make, it doesn't have to be as complicated as you might think. To help simplify the process for you, here are a couple signs that you need to say goodbye to your home and move on to something different.

Chapter 13 Bankruptcy And Multiple Mortgages: Make Your Repayment Plan Easier On You
If you currently have two or more mortgages on your home and are in the middle of filing Chapter 13 bankruptcy, you may wonder if there's any way to make your repayment plan more affordable to avoid losing your home. Although Chapter 13 gives you a chance to pay off one home mortgage, it may be difficult to repay two or three mortgages if your income is less than all three mortgages put together.

3 Things That Can Cause Your Disability Claim To Be Denied
There are few things more embarrassing than having to admit you no longer are physically able to work. So many feel that they still have to work through their debilitating pain, but there are disability benefits available for those who apply for them. However, it can be very difficult for some to get benefits. Statistics show that only around 65% of applicants are approved on their first try. That means around 35% of applicants are denied for various reasons.

3 Tips For Purchasing A Home After Filing For Chapter 7 Bankruptcy
Chapter 7 bankruptcy is commonly used by individuals and businesses as a way of forgiving any outstanding debt. As a part of the bankruptcy agreement, a trustee is assigned to your case and that person is responsible for helping you liquidate all of your assets. The money received from the liquidation is used to pay off creditors. For many homeowners, this means that your home will be one of the assets that are liquidated.

6 Stages Of The Foreclosure Process
Being unable to afford you monthly house payment can be a difficult time. You may need to consider foreclosure if this happens to you during any stage of life. Foreclosure is when your lender will take back the property if you aren't able to pay for it. Knowing the specific stages of this process may be helpful to you if you're faced with this unfortunate financial situation. Stage #1: Defaulting on Payment

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