Posted by: admin : Category: Filing for Bankruptcy in California
There are many reasons to file bankruptcy — large medical bills, loss of a job, unsecured debt, etc. These debts can get very large, very quickly if not properly managed. Nationwide, courts are seeing sizable increases in the number of people filing for bankruptcy protection. And not surprisingly, bankruptcy filings have increase the most in states that have experienced foreclosures due to defaulted loans. Filing for bankruptcy is not something you should do on your own, as you likely are unaware of bankruptcy laws. It’s very important to find a lawyer who is experienced and has a track record of success. Save yourself the headache and let a skilled, experienced attorney help you. The Sexton Law Firm (http://www. jamessextonlaw.com), a California bankruptcy firm, has provided suggestions on how go about filing: A bankruptcy lawyer’s main job is to review your personal information and help you determine the best course of action to take. They will advise you on what kind of bankruptcy you can file and ensure you get the best possible outcome. When you meet with your bankruptcy lawyer, be sure you are prepared. 1. Ask what kind of bankruptcy you should file for. Chapter seven requires you to use non-exempt assets to pay off your creditors, this can be extremely detrimental. Chapter eleven and thirteen, do not require this, but are much harder to qualify for and more expensive to file for. 2. Ask how to go about filing for bankruptcy. There is a lot of paperwork to file, so be sure you have it checked by your attorney, as they will be able to direct you on everything you need to fill out. 3. Educate yourself on the fees you will have to pay for filing. They differ depending on the kind of bankruptcy you are filing for. Following these steps will help you achieve a thorough understanding of the process. The Sexton Law Firm offers free consultations and never charges to speak with an attorney. Get experience you can trust. Speak with an attorney at the Sexton Law Firm today about your bankruptcy case and get the information you need.
The Sexton Law Firm proudly serves the San Diego area. Get your questions answered by an experienced and knowledgeable California attorney. To speak with a local attorney for free, contact The Sexton Law Firm to set up an appointment. Phone: 619-476-9436 Fax: 619-476-9258 http://www.jamessextonlaw.com
Debtor's Rights - Credit Report
A bad credit report can prevent you from obtaining credit. If you have trouble obtaining credit, it might be because a credit agency has issued a bad report on you. You might be able to obtain a copy of your report and -if it contains false information - get it corrected. Can I see my credit report? If you are denied credit, you are entitled to a free copy of the consumer credit report that formed the basis of the denial. The creditor is required to tell you the name of the credit reporting agency that prepared the report on you. You must request a copy of your credit report from the agency within sixty days of the denial. The three major credit reporting agencies are: Experian, (800) 301-7195 Equifax, (800) 525-6285 Trans Union, (800) 680-7289 When the creditor tells you the name of the reporting agency that furnished the report, call them to find out their address. Then write a letter to the agency requesting a copy of your report. Even if you have not been denied credit, it is probably a good idea to check your credit report for accuracy periodically. They often contain mistakes, and when you want to get a loan, you may not have time to correct them. Because you haven’t been denied credit, the report isn’t free. The credit reporting agency is allowed to charge you no more than $8.00 for a copy of your report. What information is in a credit report? In general, your credit report will contain information about your credit history during the last seven years. It will show: Whomyou have borrowed money from The amount of the debt Whether or not you made the promised payment on time and in full The identity of any creditor who has requested information about you If you file bankruptcy, the information remains on your credit report for ten years. What if my credit report is incorrect? You have a legal right to challenge the completeness and accuracy of any item in the report. Write a letter to the credit reporting agency explaining that some of the information in the report is incomplete or inaccurate. The agency must investigate your claim - without charge - within thirty days. The agency is required to delete any information that is inaccurate or whose accuracy cannot be verified. If the credit reporting agency’s investigation does not resolve the dispute, you have the right to send the agency a brief statement (generally 100 words or fewer) explaining your position. Your statement will become a part of your credit report and will be disclosed to creditors together with the other information in your file. If you believe a credit reporting agency has violated your rights, contact the Federal Trade Commission or see a lawyer who specializes in consumer rights.
Henry Dahut. Please Visit Us at www.GotTrouble.com
Don t Lose Your Home! Contact a Bankruptcy Attorney Today!
The decision to file bankruptcy is a serious decision but it is a decision that can give you a fresh start if there is no other way out. Bankruptcy is a legal way to discharge unsecured debt that can provide an overwhelmed debtor with a new beginning. It may be possible to keep your present home and your car after filing bankruptcy. A law firm such as the Malaise Law Firm, with attorneys skilled in San Antonio baenkruptcy law can help you decide if bankruptcy is the correct decision for your particular situation. If the decision is made to file bankruptcy, they will explain to you the pros and cons of the two types of bankruptcy available to individuals, Chapter 7 and Chapter 13. Chapter 7 is what most people usually think of as bankruptcy. In Chapter 7 bankruptcy, a debtor s non-exempt assets are liquidated or sold with the proceeds used to pay toward unsecured debts such as credit cards, loans, and medical bills. In the majority of bankruptcy cases people do not lose any property and the unsecured creditors get nothing. Several months after filing bankruptcy the unsecured debts are discharged and the creditors can never collect on the debt. A secured creditor may still enforce a lien to recover property secured by the lien. Chapter 13 is a debt reorganization or consolidation bankruptcy. If a debtor has regular monthly income, their debts including mortgage arrears, car payments, credit card bills, medical bills, loans, student loans, etc. are combined into one low monthly payment. Since the debtor is paying back their creditors through a repayment plan, the debtor does not risk losing their assets as they may under Chapter 7 bankruptcy laws. During the repayment plan creditors are prevented from contacting the debtor without first going through the debtor s bankruptcy attorney and the court. Millions of people declared bankruptcy in 2007 to get the fresh start they needed. Contrary to popular belief, your credit is not permanently damaged and it is still possible to get credit after filing bankruptcy. At the Malaise Law Firm, our San Antonio bankruptcy attorneys have over 40 years experience helping people file bankruptcy, with two board certified attorneys. We put our emphasis on helping our clients do what is in their best interest and our clients needs always come first. The Malaise Law Firm serves the residents of San Antonio, Houston, Dallas, Fort Worth, Corpus Christi, Harlingen, Brownsville, and McAllen, Texas with all of their legal needs including bankruptcy. If you would like to see what we can do to help you please contact The Malaise Law firm today at http://www.malaiselawfirm.com/contactus or call 1-800-BANKRUPT for immediate assistance. or call 1-800-BANKRUPT for immediate assistance.
Tom Moss writes about <a href ="http://www.MalaiseLawFirm.com">Bankruptcy San Antonio</a> laws.
Erase the Debts You Owe and Get a Fresh Start
Changes in the bankruptcy laws have left many to erroneously think that they can no longer declare bankruptcy. This is not true. A chapter 7 bankruptcy can also be referred to as liquidation; although with most cases there is little if any actual liquidation involved. Chapter 7 is referred to as liquidation because all of your non-exempt assets are converted to cash to help pay back the debt owed. It is best to speak with a skilled Texas bankruptcy lawyer if you are unsure whether Chapter 7 is the best option for you. In general, chapter 7 best suits persons: with income at or below the state median level unable to adequately meet bills and living expenses each month having little or no assets besides clothing and furniture not declaring child support or alimony without fines imposed for violating the law without income tax debt without student loans to repay Under Chapter 7 an individual or business can ask the courts to erase the debts owed creating a fresh start. As soon as you file for bankruptcy you are immediately granted a stay preventing creditors from contacting you to collect, garnishing your wages, taking your home, vehicles or other property, and/or shutting off your utilities. In order to decide whether Chapter 7 is really necessary for you as a debtor, you will need to take a Chapter 7 Means test. This test simply compares your income to the median income in your geographic area for your family size. This ensures you, as a debtor, are not trying to abuse the system. The majority of debtors will pass the means test. Contact a Texas bankruptcy lawyer right away to discuss your particular situation.
Michele Wallace, author of this article, writes for the <a href= http://www.maliselawfirm.com/><b> MaliseLawFirm"</b></a>. Hire experienced <a href=http://www.maliselawfirm.com/><b>"San Antonio bankrupty attorneys"</b></a> with Malaise and get the debt relief you deserve.
Bankruptcy And You - Everything You Need to Know about Bankruptcy Posted By : Sylvia Rolfe
There are four major types of bankruptcy in the United States. Each type is named for its respective chapter in the United States bankruptcy code. Which one would apply to you depends on several factors including whether or not you are individual or a business.
Filing For Bankruptcy
Bankruptcy should be seen as the last resort for people who have got themselves into too much debt. It may seem the answer to all your prayers but bankruptcy is only able to solve certain debt issues. Remember, if you have filed for bankruptcy you may find it difficult to obtain credit in the future unless your bankruptcy has been cleared, or discharged for a number of years.
Bankruptcy is very good for wiping out credit card debt. Unless you have a special secured credit card, your credit card balance is an unsecured debt. That means that the credit card company has no hold on anything that belongs to you if you do not pay back your debt. This is specifically the kind of debt that bankruptcy is designed to remove. Apart from credit card debt, you may have other unsecured debts, and bankruptcy can eradicate these as well. However, bankruptcy will not discharge your obligations to some other kinds of debts, including child support, alimony, tax debts, student loans, and any secured debts.
If you are reading this then the chances are that you are considering filing for bankruptcy. Your debts have got to the point where you cannot afford the monthly payments that your creditors are demanding. However, there are numerous bankruptcy alternatives. The most important thing is not to panic and to sit down and look at your financial situation.
If you reach the stage where you are in so much debt that you are considering bankruptcy then there are a number of measures that you can take to avoid bankruptcy. Firstly, you should cut up all of your credit cards. This may seem drastic, but it is the only way to avoid bankruptcy by guaranteeing that you do not increase your level of debt by charging more onto your credit cards.
All lenders would prefer to receive some money rather than none at all and when you file for bankruptcy a number of your creditors will receive little or none of the proceeds. This is especially the case with your unsecured loans, such as credit cards. You should contact all of the people that you owe money to and explain the situation. Most will work out a repayment schedule with you as a bankruptcy alternative, giving you longer to pay off what you owe and sometimes even freezing the interest.
John Rivers is owner of <a href="http://www.financialadvisorynetwork.com">Financial Advisory Network</a>. His website offers information on financial planning, estate planning, and investment management.
6 Things to do if involved in a Motorcycle Accident
Motorcycle accidents have a reputation for being some of the deadliest. Motorcycles offer little protection to riders in the event of an accident; therefore the injuries are often severe requiring long recovery periods. Usually, motorcycle accidents are not the biker s fault. Due to the size difference between a motorcycle and passenger vehicle, motorcycles are harder to see and are frequently lost in the passenger vehicle s blind spot. Due to this fact biker s are often sideswiped by vehicles that simply did not see them. Some shocking statistics from the National Highway Traffic Safety Administration show that motorcyclists are 32 times more likely to die in an accident than passenger vehicle occupants, and 6 times more likely to suffer injuries. It is important to remember that biker s are entitled to compensation for injuries due to someone else s negligence as well as passenger vehicle drivers. If you are involved in a motorcycle accident it is important to remember the following things: 1. Report the accident to police. The police report is helpful to your auto accident injury lawyer in determining fault. 2. Record the names and statements of witnesses to your accident. Take pictures and record any unusual circumstances or whether that may have contributed to the accident. This will be especially useful should your case go to court. 3. Do not speak with any insurance agents or adjusters that may show up at the scene. This is an unscrupulous tactic sometimes used to get people to admit fault or say something that could hurt their claim. 4. Call your insurance company to report the accident. Do not speak with the other party s insurance carrier. Let your motorcycle accident injury lawyer deal with them. 5. Even if you feel you haven t sustained a serious injury, it is a good idea to get checked out by a physician. Some brain injuries do not show up right away and insurance companies may be reluctant to pay for an injury later on. 6. Contact a motorcycle accident injury lawyer as soon as possible.
Michele Wallace, the author of this article, writes for the <a href= http://www.maliselawfirm.com/><b> MaliseLawFirm"</b></a>. Malaise handles motorcycle accident cases for the citizens of San Antonio.
Can I File for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy?
Many people struggle with the decision to file bankruptcy. Usually this is because they have misconceptions about bankruptcy in general. Basically, bankruptcy is a legal way to level the playing field between an individual debtor and creditors. It is a legal proceeding that provides the debtor with a fresh start. The two types of bankruptcy that are most commonly available for an individual are: Chapter 7 and Chapter 13. Chapter 7, or straight bankruptcy, is what most people typically think of as bankruptcy. In Chapter 7 bankruptcy, a debtor s non-exempt assets are liquidated or sold and the proceeds are used to pay toward unsecured debts (credit cards, loans, medical bills, etc.). In the overwhelming majority of cases, however, people do not lose any property which means unsecured creditors get nothing. At the end of the bankruptcy, roughly 3-4 months after filing, the debts are discharged and the creditor can never collect on the debt. Chapter 13 is a debt reorganization or consolidation bankruptcy. If a person has a regular monthly income, their debts (mortgage arrears, car payments, credit cards, medical bills, loans, student loans, etc.) are rolled into one low monthly payment. Because the debtor is paying back his creditors through this repayment plan, the debtor does not risk losing any assets as he might under Chapter 7 bankruptcy. Furthermore, while in the repayment plan, typically 3-5 years, creditors are stopped from contacting the debtor without first going through the debtor s attorney and the court. Millions of people declared bankruptcy last year alone to get the fresh start they needed. Contrary to what many believe, bankruptcy does not permanently damage your credit, and you will still be able to have credit. The new bankruptcy laws that went into effect in 2005 changed bankruptcy very little.
Michele Wallace, author of this article, writes for the <a href= http://www.maliselawfirm.com/><b> MaliseLawFirm"</b></a>. Hire experienced <a href=http://www.maliselawfirm.com/><b>"San Antonio bankrupty attorneys"</b></a> with Malaise and get the debt relief you deserve.
Which Is Worse - Bankruptcy or Foreclosure? Posted By : Stacy Fox
Which is worse - bankruptcy or foreclosure? The answer to that lies in figuring out what your long-term financial goals are.
Bankruptcy Alternatives Explained
There are many steps you can take in efforts to improve your credit, eliminate your debt, and avoid bankruptcy. Which should be the ultimate goal of all people, while bankruptcy is an excellent method of helping you clear up your debt, it should only be used as a last resort. Bankruptcy remains on your credit for up to ten years and it could result in the inability to retain any other type of credit until it has been removed or several years has passed.
On thing that a debtor can do, this is especially true if they have no income or assets, is to do nothing. Yes that is right nothing, if you have no assets or income that can be garnished bankruptcy would not benefit you in any way, your financial situation would not change as a result. It is likely that without anything of high value, credits would not attempt to take any court action against you because there would be nothing they could collect.
Another step you could take is to undergo credit counseling, you would learn how to manage your money to reduce the debt. You could create a budget that contains your monthly income and expenses, thus reducing expenses. By doing this, any extra money you have could go towards reducing the debt you owe to creditors.
You could also begin negotiation with your creditors, most of them realize that bankruptcy is a viable option for those who have more debt than they can handle. For this reason, most will be willing to ?take what they can get? rather than get nothing if the debtor files bankruptcy. This option requires that the debtor has income or assets that can be used in efforts to raise money to apply towards the debt you owe. Additionally, this can allow you to rebuild your credit instead of applying a negative bankruptcy on it.
Debt consolidation is another bankruptcy alternative that many could consider, by consolidating your debts into one low monthly payment you could easily reduce the amount of your debt, get the creditors off your back and avoid bankruptcy.
Finally, another option of avoiding bankruptcy is to make a formal proposal directly to your creditors. This proposal or also knows as a deal, will allow you to create a payment plan. It is all dependent upon what area of the world you live in and the laws surrounding the area of debt compromise.
Tim Renolds is the owner of <a href="http://www.loan-source.co.uk">Debt Consolidation Loan</a> providing Uk homeowners with a free loan quote service. Visit us today for a free no obligation quote.