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Category Archives: Bankruptcy Attorneys

How Quickly Can Credit Worthiness Be Rebuilt After Bankruptcy?

Filing for personal bankruptcy may seem like a seven to ten year sentence. After all, that is how long it will be before you can get loans and credit cards, right? Well, not exactly. If you have a stream of income, many financial institutions may still want your business. Within a relatively short time after… Read More »

Why a Shopping Spree Just Before Bankruptcy Won’t Work

The thinking goes, “what have I got to lose?” Or so one imagines the words people say to themselves who max out their still-working credit cards right before filing for bankruptcy. That approach is wrong on several levels. If you’ve got an itch to spend the remaining balances of your credit cards before you file,… Read More »

The Three Primary After-Effects of Personal Bankruptcy

Contrary to what is sometimes said by politicians and in the blogosphere, most people do not enter into bankruptcy lightly. Bankruptcy is a means to manage difficult finances and overwhelming debt – or as in the case of Chapter 13, a reorganization that enables you to pay off debts over time. Still, individuals who are… Read More »

Relief from Aggressive Collection Tactics

Coping with the stress of overwhelming debt is a difficult task. That task is often made worse by the aggressive tactics of collection agencies. Just as bankruptcy provides relief from debt, new regulation taking effect in January 2013 aims to provide relief from aggressive or illegal collection efforts that accompany unmanageable debt. In October of… Read More »

Bankruptcy Statistics Nationwide

Bankruptcy is more common than you may think. According to the Administrative Office of the United States Courts, in 2011 there were over 1.4 million bankruptcy filings nationwide. The vast majority of these — over 70 percent — were for liquidation under Chapter 7. Also surprisingly, individuals and other nonbusiness entities accounted for over 96… Read More »

Can I Shed My Mortgage?

The answer to this question depends entirely on your situation. You may be able to prevent foreclosure and get rid of your mortgage at the same time by investigating who exactly owns the mortgage and holds the promissory note for the loan. And you may be able to drop a second mortgage entirely if you… Read More »

Some Ways to Avoid Bankruptcy

Before deciding to declare bankruptcy, seriously consider some of the following alternatives. Trim your budget everywhere you can. Make a list of your regular expenses and go over it carefully. Can you pack a lunch instead of buying one at work?  Can you jog and work out at home so you don’t have to pay… Read More »

How to Prepare for a Meeting with Your Bankruptcy Attorney

If your financial situation has gotten to the point where you think bankruptcy might be the best option for you, the time has come to consult with an experienced bankruptcy attorney. But before you meet with your bankruptcy attorney for the first time, get prepared by doing the following: Know your assets. Write a list… Read More »

What is Actually in a Credit Report?

You could look yourself: AnnualCreditReport.com is the only source that provides truly free credit reports, once every 12 months, without asking for your credit card information, enrolling you in a “free trial” for some paid service, or pushing you to pay for various extras. And here’s what you will find: Identifying information: Includes your name,… Read More »

What is Foreclosure and How Do You Avoid It?

Banks initiate foreclosure on homes in an effort to recover the outstanding balance on a mortgage or loan on which the borrower has stopped making payments. Mortgages and other home loans are categorized as secured loans — loans taken against specific, physical collateral. If you fall too far behind on your loan payments, the lender… Read More »