A personal bankruptcy settlement does not mean your debts are 100 percent discharged every time. If you file chapter 13, this allows you to restructure your debts so that creditors get a portion of what you owe them. Most people resist filing bankruptcy because they consider the inability to pay their debts as being irresponsible. When you file Chapter 13, you can still work with creditors to pay a portion of your debt without crushing under an overwhelming amount of debt.
Source: sibensiben.com
Video: Colorado Bankruptcy | File Bankruptcy for $0 Money Down | Colorado Bankruptcy
Assets, Debts, and Your Budget are listed on your Bankruptcy Schedules
In a Chapter 13, you can surrender the collateral, let the creditor repossess and sell it and pay any deficiency in the plan as an unsecured claim at the percentage paid to all other unsecured creditors; in some instances you can keep the collateral and continue to make regular payments to the creditor outside the Chapter 13 plan; you can “cram down” the collateral by paying the creditor only its value at a court approved interest rate; in many courts, you can pay mortgage arrears in the Chapter 13 plan and continue to pay the regular mortgage payments directly to the creditor.
Source: bankruptcylawnetwork.com
Loan Audit Tip #1: Bankruptcy, Proofs of Claim, and Foreclosure
Tagged With Arizona, Atlanta Georgia, AZ, Chris Springer, Christine Springer, FL, Florida, foreclosure, Foreclosure Attorney, foreclosure attorneys, foreclosure defense, foreclosure industry news, foreclosure information, foreclosure lawyer, foreclosure lawyers, Foreclosure News, foreclosureindustrynews.com, Foreclosures, GA, Georgia, IL, Illinois, Miami Florida, Orlando Florida, Phoenix Arizona, pre foreclosure, Short Sale, Short Sales, Tampa Florida, United States, US, www.foreclosureindustrynews.com
Source: foreclosureindustrynews.com
Preparing For The Bankruptcy Petition
When you file for bankruptcy you will be required to fill out a petition. This form outlines the details of your financial situation and will ask you very specific questions about your finances. You will be asked to provide information about your income, employer details and any other wages you have earned in the past few years. Retirement, government benefit or survivorship fund information may also be asked. It is important that you are ready to answer these questions and provide amounts as to how much money can be found in these sources. You will also be asked to report tax return information for the last two or more years.
Source: leebankruptcy.com
Bankruptcy lawyer discusses some general information regarding a Chapter 7 bankruptcy
Many individuals file for Chapter 7 bankruptcy. This type of bankruptcy is creates a fresh start for the debtor by discharging their all of their debt through liquidation. Upon filing for a Chapter 7 bankruptcy a bankruptcy court reviews the individual’s finances. The bankruptcy trustee then compares the debtor’s assets and income to their liabilities. Majority of the debtor’s assets are then liquidated and divided among all of the creditors in equal shares. These equal shares represent the debtor’s full liability to the creditor. Upon receiving their equal share the creditor is no longer allowed to try and collect of that debtor’s debt.
Source: bankruptcynyc.com
Bankruptcy Information: Some Basics
Unfortunately, most of the public does not have good understanding of Bankruptcy Information. This specific causes misconceptions regarding a bankruptcy proceeding. One of the key misconceptions of bankruptcy is the fact that all possessions are taken and repossessed because of the courts. Since there a variety of different chapters of a bankruptcy proceeding, there are also a variety of takes on repaying financial obligations, and only Chapter 7 requires a whole liquidation of assets. Despite having Chapter 7, debtors tend to be allowed exempts, or items which might be necessary for living. One more important piece of Bankruptcy Information to remember is that there is often a new bankruptcy law constantly in place called Bankruptcy Abuse Avoidance and Consumer Protection Action. This law was implemented in 2005 to halt fraudulent bankruptcy claims and may make it more challenging to convince the courts of an claim.
Source: ultimoslibros.com
Maryland Bankruptcy Lawyer Launches Brand New Website
The Russack Law firm has redesigned its website making it easier for clients to navigate and get information about the firm and the services it offers. The home page offers direct links to speak with one of the firm’s attorneys, access to more information and a quick way to schedule an appointment. A biography section presents information about the firm’s three attorneys. “Tate and Cami Russack and George Roles are the three lead attorneys for the Maryland bankruptcy firm. One of them will meet personally with every client who comes in and they will keep a close eye on every case as it works through bankruptcy court. They are not going to leave someone just hanging out there with no support and no information. Knowing the background and experience of these three people is important. When a matter a serious as bankruptcy is being considered, knowing the attorney handling the case is both qualified and experienced is a great relief,” said Steven Gordon, a representative of Blulo the company which handles Russack Law’s public relations. “This is the kind of information people need to have when making a momentous decision like bankruptcy.” The new website also includes a resource area with videos by the firm’s attorneys which explain the Maryland Chapter 7 process and what a client should expect from it. “A lot of people are worried about what will happen to them and their possessions. There’s just a lot of misinformation out there about bankruptcy,” Mr. Gordon said. “The information section of the new website will give people the information they need from a reputable source. Someone considering bankruptcy can watch the videos and read the information in the privacy of their home. That way no one else has to know.” If bills are getting out of hand and there seems to be too much month left at the end of the money, give the Russack Law firm in Annapolis a call. “Russack Law specializes in debt relief. Let them take care of the problems with creditors hounding you at home and the office. Don’t be afraid to answer the phone and check the mail any more,” Mr. Gordon said. “They can stop the harassment.” Being deep in debt is not a crime and not being able to pay bills is something that can happen to anyone. The Russack law firm Easton Maryland Bankruptcy firm knows that the poor economy has put a lot of people behind on their debt payments through no fault of their own. Mr. Gordon points out the recent hiatus in foreclosures is coming to an end. Banks are stepping up their foreclosure activities, putting many homeowners at risk. The law firm can take quick steps to protect a person’s home, if foreclosure is being threatened, he said. The firm is located at 100 Severn Avenue Suite 110 Annapolis and 8737 Brooks Drive Easton, MD. They practice bankruptcy law across Maryland and in Washington DC. For more information or to schedule a conference, visit http://www.russacklaw.com or call 410-934-4350.
Source: sbwire.com
You need this information know how to file bankruptcy.
About a month after your case is filed, you and your attorney need to attend a Meeting of Creditors. This is required by law. It is presided over by the trustee appointed to your case. You will be asked if you have listed all of your debts and all of your assets in your bankruptcy papers, and that you have accurately detailed your income & expenses. Your lawyer can discuss what will happen and what is expected of you before this scheduled meeting.
Source: patforte.com
Bankruptcy Discharge Information You Must Know
Although the discharge is to be considered final, it could be revoked if the creditor can show that it was obtained fraudulently. It’s important that the debtor make sure that all of the information she gives during the course of the bankruptcy is accurate and complete. The revocation request must be filed within a year of the discharge. The court hearing the bankruptcy case will decide if the allegations of fraud or failure to disclose information are true or not. The court will then decide if the discharge should be revoked.
Source: momseveryday.com
NM Bankruptcy Information On YouTube
The YouTube channel will be updated regularly with short, informative videos that help customers learn about various topics, including how to get to the courthouse and information on bankruptcy procedures. Though the Court is using YouTube as a medium for providing information to customers, the Clerk’s Office continues to be aware of the prohibition to provide legal advice to parties (both self-represented parties and to attorneys). The YouTube channel will allow us to consistently and clearly provide the same information we currently provide at the front counter via the Internet. We feel this is a critical element of customer service in a geographically large district like the District of New Mexico. We welcome your feedback on this new service, including suggestions for topics.
Source: nmbankruptcylaw.com
Complex Bankruptcy Information In Simplistic Terms
If student loans comprise a major portion of your debt, filing for bankruptcy may prove difficult. Laws and regulations are different from one state to the other, but student loans remain among the hardest debts to cancel. The court will make you prove that the loans are so extreme that they provide intense hardship for you in order to have the loans discharged from your debt.
Source: articlelink.tk