Bankruptcy Attorney Firm

How To Get A Mortgage After Bankruptcy?

Call: 888-297-6203 Getting a mortgage after bankruptcy is difficult. However, if you control your finances and improve your credit history, there are chances that you can get a home loan if you are selective about applying for it. Lawyers of Los Angeles law firm ( say, that it might be sooner than later. Affect of bankruptcy on your credit score Once you opt for bankruptcy, you should know that it stays on your credit report for 10 years; sometimes even longer if the loan was for more than $150,000. Your credit score is affected by this as well [...]


You Should Consider Filing For Bankruptcy If You Owe A Lot Of Money

Call: 888-297-6203 Before you decide on filing for bankruptcy due to your unmanageable debts, it is important that you meet with a Licensed Insolvency Trustee (LIT). They will help to evaluate your current financial situation as well as provide you with multiple alternatives that you can take to get rid of your debts.  What to do if you cannot find a Licensed Insolvency Trustee (LIT)? Under circumstances when you are unable to find a LIT, you can take the help of OSB’s Bankruptcy Assistance program provided- You have previously tried to get in touch with at least 2 [...]


Bankruptcy And The Chapter Under Which You Can File

Call: 888-297-6203 Filing for bankruptcy is a complicated procedure and a filer must adhere to all the provisions of the bankruptcy codes. Therefore, it is mostly recommended to consult a good attorney before you decide on filing for bankruptcy to get proper guidance. An individual or business who suffers from an overburden of piled-up debts usually files for the legal procedure of bankruptcy. If the business or individual is unable to cope with the adding up of debts, they can apply to file for bankruptcy under the united states bankruptcy court. To get in touch with an attorney [...]


Federal Tax Liabilities And Bankruptcy

Call: 888-297-6203 Federal income tax dues are non-dischargeable debts and getting relief from them can be extremely difficult. IRS can sue the debtor for an asset lien to recover dues, interest, and penalties. To stop the collection of dues from lenders like IRS, filing for bankruptcy can put their collection attempts to a temporary stop until the bankruptcy court arrives at a certain judgment. This relief sometimes can prove very important in financially draining situations. Know more about bankruptcy and its impacts on  Federal tax dues and penalties or interest are taken very lightly unless it is [...]


Chapter 13 Or Wage Earner Plan

Call: 888-297-6203 The wage-earner plan is a nickname given to Chapter 13 bankruptcy. The reason to give this name to the chapter 13 bankruptcy is due to the characteristics of the bankruptcy chapter. Unlike Chapter 7, Chapter 13 focuses on clearing as much as debt possible using a reliable source of income through the next 3-5 years. The tenure depends on the debt and the disposable income. There is a misconception that a wage-earner plan does not result in a discharge. However, there can be a discharge if the future disposable income isn’t sufficient to repay some of [...]


All That You Need To Know About An Automatic Stay

Call: 888-297-6203 When an individual file for bankruptcy, an automatic stay is automatically put into effect. With the help of the stay, the debtor is no longer harassed by the creditors in terms of wage garnishment or collection calls. However, this is only temporary and can be pleaded by the creditors to be lifted as well. The function and working of an automatic stay An automatic stay is recognized under section 362 of the United States Bankruptcy Code. The filer does not need to apply for this separately. When they file for bankruptcy, it gets into effect automatically. [...]


Chapter 13 Bankruptcy – Encyclopedia

Call: 888-297-6203 Chapter 13 is a bankruptcy form that is not so popular but is a good alternative for many. People with consistent income can consider this bankruptcy chapter to safeguard their assets and payout as much debt as possible. Chapter 13 allows for a repayment plan with restructured debt and much more practical EMIs. There might be a discharge however it is almost negligible compared to the one in Chapter 7. The tenure for the repayment can be 3-5 years. The emphasis in chapter 13 is to calculate the net disposable household income and utilize the same [...]


What Happens After Bankruptcy?

Call: 888-297-6203 Bankruptcy can be a nightmare or a relief after nightmare for many. There are a few important events that occur after bankruptcy. Such events can be listed as follows- Liquidating or preventing the liquidation of assets The first step after bankruptcy is to either prevent the assets from liquidation or to notify the lenders/bankruptcy trustee to liquidate the assets. If the bankruptcy filer must prevent an asset from being liquidated, this is the critical moment to do so, or it can be liquidated, or the lien might be exercised by the lender on the same. For [...]


Foreclosure And Bankruptcy

Call: 888-297-6203 Bankruptcy is an essential weapon against foreclosure and collection attempts. Once the bankruptcy is filed, it provides for an instant relief against any foreclosure attempts or any threatening or collection activities from the lender. A lot of people lose their homes to foreclosures fearing the impact of bankruptcy. As many as 1,500 homes are foreclosed on a consistent basis every month in many states. Bankruptcy can prevent this but some fear and misconception about its long-lasting impact have led to so many home foreclosures on a consistent basis. Learn more stats relating to bankruptcy and its [...]


Unique Things About Bankruptcy

Call: 888-297-6203 Most of the time, you might have heard about applying for bankruptcy but there are times when you can be declared bankrupt as well. There are many things associated with bankruptcy that are unique and unknown by many. It may not be so common appearance, but it can be helpful to know. Know more about bankruptcy and the aspects relating to it on How can you become bankrupt? The high court can declare an individual bankruptcy on reviewing the bankruptcy petition, filed by any of the lenders. A group of lenders or an individual lender [...]

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