Remember that in order to obtain a fresh start from a chapter 7 bankruptcy in Riverside, you must first qualify. Your attorney can take you through a simple process of obtaining permission from the court to file for chapter 7. If you are looking to wipe your slate clean and start fresh, you will first need to get rid of crippling debt. Dealing with your debts can make you feel as if you have more control over your life, and the first step to doing this is to hire an attorney who knows the system and who has been successful in the past. Don’t navigate the complicated court system on your own – hire someone who has your best interests in mind who knows how the game is played. Consult an attorney today in order to determine what your best options are for dealing with your debt.
Source: financestudio.net
Video: Understanding Bankruptcy By Barry Mitchell of Lightside Financial.MOV
Will Stockton’s Bankruptcy Alter Legal Understanding of Pensions?
Walters argues that in general, attempts to reduce future pension benefits for current employees is difficult both politically and legally because California case law largely considered them guaranteed, thus untouchable. But with its considerable pension obligation, largely financed by bonds, Stockton offers a potentially landmark case. Its bond insurers are challenging Stockton’s bankruptcy plan, under which the city would stop making payments on most of their borrowed pension obligation bond debt but would continue making full payments to cover promised pension benefits for current and future retirees, thus leaving benefit levels unchanged. Walters writes:
Source: policynook.com
Bankruptcy and you Credit: Understanding the facts
Studies show that purchasing a home is possible about 18 to 24 months after filing for bankruptcy and in fact the Federal Housing Administration has policies that allow bankruptcy filers to qualify for a mortgage on a home. These policies are more flexible than that of traditional lenders and an offer for a mortgage can be extended if twenty four months or more have passed since the bankruptcy was filed. For bankruptcy filers worried about their credit after filing and its effect on purchasing a new home, this is good news. However if a foreclosure occurred while filing for bankruptcy, the FHA policies require a three year wait before purchasing a new home.
Source: debtplan.org
Understanding Bankruptcy: Petition Review and Submission to Court
fpbankruptcylaw.com http://fpbankruptcylaw.com/the-bankruptcy-process-petition-review-and-submission-to-court/The Bankruptcy Process: Petition Review and Submission to Court On the Precipice Most of the hard work has already been done. You have consulted with a bankruptcy lawyer and decided to go forward with the filing. You have completed the credit counseling course and your lawyer has prepared your bankruptcy petition. You have been a responsive and responsible client and have disclosed everything to your lawyer. Your lawyer, hopefully working with you every step of the way, has completed the preparation of your bankruptcy petition. The petition is a large and intimidating document that contains a full accounting of your property, your debts and a overview of your financial status leading up to the filing. At this point, it is time to review your petition and “sign on the dotted lines.” Review and Execution Your lawyer, upon completion of your bankruptcy petition, should schedule an in-person meeting to review the entire document. This meeting should take some time as every schedule, statement and form contained in the petition will be examined in detail to ensure accuracy. Remember, your petition is signed under penalty of perjury so it is vitally important that all information is accurate and honest. If mistakes are found or editing needs to be done, all changes should be done in-person before your signature is put to paper. The petition you sign should be the petition that is submitted to the court not a post-signing edited version. Filing Day and Submission to Court Your petition has been thoroughly reviewed for accuracy and has been signed by you and your lawyer. At this point, the documents are ready to be filed with the court. The petition should be filed in a timely manner shortly after the date you signed as signatures on bankruptcy petitions have a figurative “expiration date.” In the 21st Century, bankruptcy petitions and all related documents are filed online through the court’s Electronic Case Filing System (ECF). It is convenient, fast and a case number is immediately assigned. The filing date is important for two reasons: 1. Upon filing, the automatic stay goes into effect and all creditor action must cease; and 2. The filing date creates a break in the story of your financial life. Sharp distinctions are drawn between those assets and liabilities acquired pre-petition (pre-filing) and those acquired post-petition (post-filing). In addition to your case number being assigned, a Bankruptcy Trustee will be assigned shortly thereafter to handle your case. A court date will also be assigned and scheduled for approximately 4 to 5 weeks subsequent to the filing date. So your petition is completely accurate, your bankruptcy case has been filed with the court and now it is time to get your ducks in a row for your big day.Next Up, Part 4: The “341″ Meeting of Creditors (The Court Date) Image courtesy of butchinson. Tagged as: Bankruptcy, Bankruptcy General, Bankruptcy Petition, Bankruptcy Process
Source: jdsupra.com
Understanding Bankruptcy 08/24 by Organization Supporting Biz Owners
Sounds like Queen Latifah may have the patter of little feet in her sights. “As an adult, as a I looked back on how my mom raised us,” the superstar tells our wOw Effect host, “I was so thoroughly impressed, and I figured, If I can be just half the mother she is, I’ll be doing just fine.”
Source: blogtalkradio.com
Understanding bankruptcy and avoiding it
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Source: vphas.org
Understanding Bankruptcy: A Conversation with Sean Mansell, Collection and Loan Servicing Manager
You hear a lot about the debt counseling agencies out there with slogans like, “We buy ugly homes” or “We can get a loan modification done for you.” Unfortunately, those places are preying upon people who are in a very difficult situation. What I would suggest to members is either going to someone like Accel, who we know by reputation is great, or go to an FHA certified counselor. Then they can assist them in contacting their mortgage servicer, the people they make their mortgage payments to. They can contact their credit card organizations. They can contact the folks they make their car payments to. And they can help negotiate workout terms.
Source: wordpress.com
Build Your Understanding of Bankruptcy With These Resources
If you are facing considerable debt, take a look at these links for some helpful information about bankruptcy. While these sites can give you a basic overview of bankruptcy in California, a bankruptcy lawyer can answer questions about your unique financial situation. To speak with a San Diego bankruptcy lawyer about your debt, call Sevens Legal at (619) 777-7777.
Source: sevenslegalsandiego.com
Overcome Bankruptcy and Buy a Car Today
In most parts of the United States people are dealing with either Chapter 7 or Chapter 13 bankruptcy claims, and each one can be easily taken care of with ease. So it doesn’t matter if you’re in Syracuse, New York or Bakersfield, CA and need a car loan with bad credit as these useful tactics tend to work for anyone. Now with Chapter 7 bankruptcy you more than likely had to sell off a certain amount of assets in order to pay back your creditors, but the beauty of doing this is that you’re able to receive something of a "new start". Your credit will take a hit, but all you need to do in order to qualify for auto financing is to simply find a good job and establish a good source of income. If you’re able to do this then you can be sure that there will be lenders available that will offer you a loan despite a low credit score. You will also want to make sure that you have all the proper information pertaining to your bankruptcy claim, and proof that you have been discharged.
Source: squidoo.com
Understanding the Importance of Acquiring a Bankruptcy Attorney
When involved in a Chapter 7 or a Chapter 13 bankruptcy case, the administrative based tasks associated withbankruptcy are officially handled by a professional that is referred to as a “Trustee”. This professional is responsible for overseeing the entire case while it is active within the court system. As a debtor, you are typically not involved with the actual court dealings. This is where the trustee or the bankruptcy attorney acts on your behalf. Making an attempt to handle these affairs in a courtroom could prove to be disastrous to your case, unless you have legal experience and expertise. There are many laws, forms and details that should be handled by an attorney. If left to be handled by you – the debtor – you could find yourself mixed up in the court for much longer. Last – but not least – you could find that your case is unsuccessful. If you have discovered that it is best to file for bankruptcy, an attorney that specializes in the processes associated with the filing should be acquired immediately.
Source: streetappschallenge.com
Understanding What A Personal Bankruptcy Means For You
As soon as you begin thinking about filing for personal bankruptcy, you should put your credit cards away. While you may think that you will soon be able to write off that debt, it will quickly come back to bite you when the court looks at how financially irresponsible you have been. Now is the time when you need to become financially responsible. This is an excellent time to learn how to manage your money for the best life today and tomorrow.
Source: sibensiben.com
Understanding Your Credit Score
For individuals seeking bankruptcy protection, a common question that often comes up involves credit scores and how much they will be impacted due to a Chapter 7 or Chapter 13 filing. While we have already addressed this important topic in the past, it is very important to understand how the 3 major credit bureaus (Experian, TransUnion, and Equifax) compute scores and the various components that help comprise them. While the exact scoring algorithms are closely guarded secrets, the following areas are considered major factors and paying attention to these points will greatly improve your chances of a higher score:
Source: bankruptcybodyguard.com
Understanding The Role Of A Bankruptcy Lawyer
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Source: legalonlinemarketing.com
Bankruptcy Attorney New York, NY
If you are struggling financially, but are not quite sure if bankruptcy is right for you, learn more about the basics of bankruptcy in New York with these links. Build your foundation of understanding and call the bankruptcy attorneys with Jeffrey Weinstein P.C. at (646) 495-9614 to see how bankruptcy can affect your specific financial situation.
Source: probatelawnyc.com