Credit and Bankruptcy

Steps To File An Emergency Bankruptcy Petition

Call: 888-297-6203 The documents required to file an Emergency Bankruptcy Petition with the Court Clerk. 1) Recheck and be sure if an Emergency Bankruptcy Filing is required The procedure of Emergency Bankruptcy Filing comes in handy only when you need immediate bankruptcy relief, and you don't have the time to go through the procedure and file a traditional bankruptcy. In a situation wherein without an automatic stay is in effect, stopping certain forms of collection on the outstanding debt may not be possible, this is the method you need to opt for. The situation may be foreclosure, vehicle [...]

2023-05-19T07:06:54+00:00
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How To Rebuild Your Credits After Bankruptcy

Call: 888-297-6203 The biggest doubt with people is, once I file for Bankruptcy, what after that? Will they ever have a good credit score again? Well, let me tell you, Yes. Though not immediately, with time, you can build your credit score again. 1) What is the importance of Credit? Clients who go through Chapter 7 Bankruptcy once, don't want to look at finance agreements or credit cards again. However, having good credit is always important. It is a skill one must keep working on. 2 years after completion of your Chapter 7 case, you will be eligible [...]

2023-03-30T10:09:48+00:00
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Lien-Free Personal Property In Bankruptcy

Call: 888-297-6203 Bankruptcy helps remove lien on your personal property. 1) High-Interest Lenders Lenders often ask their customers to list their personal properties like Television, Gaming systems, and computers while taking a loan. The loan document contains a grant for the lenders, a security interest in those items. The lender can then repossess these household properties if you fail to pay the loan. Most people don't hold the ability to fight in these situations financially. A common practice with the lender is threatening the customer with repossession. 2) Lien Stripping Powers of 11 USC 522(f) A provision in [...]

2023-05-19T07:04:21+00:00
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Elimination Of IRS Through Chapter 13

Call: 888-297-6203 Tax liens on a property are often filed by the IRS. This lien is extended to all the property in the country. It is good for 10 years and it applies to your house as well as your personal property. 1) Can the IRS Tax lien be avoided in total? Take an example where the market value of the house is $400,000 and the first mortgage balance is $350,000 and the second mortgage balance is $60,000. In such a situation, the IRS lien can be avoided completely. 2) After deducting senior liens, if there is still [...]

2023-05-19T07:09:17+00:00
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Virginia Chapter 7 Bankruptcy

Call: 888-297-6203 A Virginia Chapter 7 Bankruptcy has a lot of moving parties. Knowing the different players and the common terminologies used can help in the process. 1) The Debtor The individual who files the petition in a Virginia Chapter 7 Bankruptcy is known as the Debtor. He is the person who seeks discharge of the debts owed to other individuals. A Debtor can be an individual or a business. A joint debtor, that is a Husband and Wife can also file together. 2) The Trustee In a Virginia Chapter 7 Bankruptcy, the person charged with the collection [...]

2023-03-30T10:11:58+00:00
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When Bankruptcy Is Filed, What Happens To Your Car?

Call: 888-297-6203 Before you file for bankruptcy, you need to find out if you will, or will not get to keep your car. This decision is dependent on several factors. 1) Is it possible that a Bankruptcy Trustee can sell my car? Yes, it is quite possible. When a chapter 7 Bankruptcy is filed, you are assigned a Bankruptcy Trustee, whose work is to see what all assets you hold, and how can he arrange them to make sure your creditors are paid. It may also include selling your car. 2) You can protect certain Assets (also your [...]

2023-03-30T10:16:41+00:00
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How To Get A Home Loan After Bankruptcy?

Call: 888-297-6203 It is quite difficult for a person to take a home loan especially after filing for bankruptcy but it is not impossible, there are ways or rather steps you can follow and apply for home loans in no time. You have to re-build your credit rating- When you file for bankruptcy it affects your credit score and can stay up to ten years on your credit report, but this is not the end for taking a home loan. You can take home loans by rebuilding your credit scores. You can do that by taking a secured [...]

2023-04-19T12:22:20+00:00
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Does Filing For Bankruptcy Help With Wage Garnishment?

Call: 888-297-6203 There are many advantages in filing for bankruptcy and wage garnishment suspension and their permanent cessations are one of the advantages. It is highly advisable to contact a good attorney and understand your case and whether or not it is good for and under which chapter you should file. The first thing that happens just after you file – In most cases, if one is eligible for it, apply for chapter 7 bankruptcy and here almost all your debts are cleared except some taxes, student loans, child support, alimony, and/or criminal fines which are suspended till [...]

2023-04-19T13:28:31+00:00
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Mistakes To Look For In Your Credit Report After Bankruptcy

Call: 888-297-6203 According to the Fair Credit Reporting Act, (FCRA), a discharged debt in bankruptcy should be shown as having zero balance and the consumer should not be any more liable for it. (See FTC OSC section 607, item 6) Some of the common mistakes are listed below- Forgetting to report the payment history of all of the debts that you reaffirmed. Continuing to report a balance due. Reporting a discharged debt during bankruptcy case as “charged off”. Reporting a wrong date for your bankruptcy filing. Mistaken identity- when a family member or your spouse shows bankruptcy when [...]

2023-04-19T13:23:31+00:00
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Consumer Bankruptcy – All That You Need To Know!

Call: 888-297-6203 Bankruptcy is a legal action that helps a person or business to get a new secured financial future if he/she cannot pay his/her bills and loans. It has to be filed in federal court and by a bankruptcy attorney. The two types of bankruptcy under which one can file are discussed below in brief. Chapter 7 bankruptcy – It is also known as straight bankruptcy. Here, all your dischargeable debts are discharged against your non-exempt property. Exempt properties are those that are necessary to start a new life. Almost all your assets come under exempt properties [...]

2023-04-19T12:04:10+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.