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Tis’ The Season: Holiday Gift Cards And Bankruptcy

Gift cards are not just for holidays anymore. As a stocking stuffer or a graduation present, gift cards make it easy for those who give and those who receive. We represent clients across the United States taking serious measures to reduce their debt, pay back creditors and improve their credit worthiness. But what measures do… Read More »

How Bankruptcy Can Help You Negotiate with Creditors

When it is feasible, negotiating with creditors is an excellent alternative to bankruptcy that allows troubled borrowers to resolve debt while minimizing credit consequences. But negotiation requires leverage. If the amount or validity of a debt is not in dispute, a lender usually has no incentive to negotiate. The prospect of bankruptcy, however, can give… Read More »

How Long Does Bankruptcy Take?

How long the bankruptcy process takes can vary greatly from case to case and chapter to chapter. In some Chapter 7 cases, the petitioner can receive a discharge in as little as two months. Depending on what assets are present, the case may continue after the court issues a discharge as property is sold to… 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 »

Some Tips to Avoid Having Your Car Repossessed

The rate of default on car loans reached an eight-year low of 1.03 percent in May 2012 — but even at that rate, millions of vehicles will be repossessed in the United States this year. Below are some tips to avoid becoming another casualty of the repo man. 1. Communicate. If your personal finances have… Read More »

Why Legal Help Is Vital for Bankruptcy

Many people do not realize the complexities involved with filing bankruptcy. The U.S. Courts’ website contains numerous bankruptcy forms. Understanding the forms alone is an overwhelming task. Bankruptcy filing must also comply with tax laws and protect against any potential challenges from creditors. In addition to providing expertise and legal advice relating to the feasibility… Read More »

Advantages of Using a Loan Modification Lawyer

Many people today have mortgage loans they can no longer afford, and worry about avoiding foreclosure and filing for bankruptcy. Loan modification may be an alternative to bankruptcy in some cases; however, trying to deal with a lender on your own can be difficult. Many bankruptcy attorneys negotiate with lenders on behalf of individuals who… Read More »

How in Debt Are Average Americans?

If you carry a significant amount of debt, you are not alone. In 2009, Visualeconomics, whose information has appeared in BusinessWeek, Business Insider, U.S. News, and The New York Times, reported its analysis that the average American: Over a lifetime will pay more than $600,000 in interest Currently has a total of 13 credit obligations… Read More »

Bankruptcy, Levies, and Liens

When struggling with financial problems, you run into many legal and financial terms that can be confusing.  Some of these terms relate to actions that creditors can take against you.  And in many cases, bankruptcy offers a reprieve against such actions and the chance to become solvent again. What is a lien? A “lien” is… Read More »

How is Chapter 11 Different for Small Businesses?

Unlike Chapter 11 bankruptcy cases that involve medium to large businesses, the U.S. Trustee is more involved in overseeing the case with a small business Chapter 11.  Early on, the debtor must attend an initial interview where the trustee evaluates the small business’s viability, the debtor’s business plan, and the debtor’s responsibility to file certain… Read More »