Bankruptcy is an option during tough times. If you’re deep in debt due a loss of employment, emergency repairs, or a divorce, you can file for Chapter 7 bankruptcy to receive a discharge of debts, if approved by the court. With a Chapter 13 bankruptcy case, some debt may be discharged while you’ll receive help […]
filing for bankruptcy
How to Avoid Bankruptcy Fraud in Los Angeles?
Bankruptcy fraud is no laughing matter. Bankruptcies are overseen by The United States Trustee Program which is an arm of the Department of Justice, so you’re essentially dealing with a government agency and they don’t take these transactions lightly. Seeing as bankruptcy is a tool used in dire financial situations to forgive or restructure debts […]
How Debt Affects Mental and Physical Health?
Studies have shown debt has a negative impact on mental and physical health. The health effects of financial distress are the same whether you live in poverty or earn a high income and reside in an upscale neighborhood. And, when you fall into financial distress, your employer is unlikely to provide more than a slight […]
What Not to Do When Filing for Bankruptcy?
Filing for bankruptcy can be a positive experience that helps regain your financial footing. However, there are certain steps that can hurt your bankruptcy case, even if they’re in good intention or accidental. Here is what you should avoid before filing: Don’t Lie About Your Assets Always be completely honest about your assets. Your case […]
How to Prepare for Chapter 7 Bankruptcy Meeting of Creditors
With most bankruptcy proceedings, it is an inevitability that you’ll have to meet with an attorney, a bankruptcy trustee and possibly creditors at some point in the process. When either individuals or businesses file for Chapter 7 bankruptcy the court will schedule a Creditors Meeting. Otherwise known as a 341 hearing, a Creditors Meeting is […]
How Much Does it Cost to File Bankruptcy?
Litigation Strategies in Foreclosure Cases
Once a property is in foreclosure, a homeowner’s options range from filing for bankruptcy to applying for a loan modification. There are also options when it comes to litigation. The foreclosure process is confusing and complicated to most people already facing financial hardship. Even if you apply for a loan modification, the bank may still […]
Rebuilding Your Credit Score After Bankruptcy?
When you file for bankruptcy, it can remain on your credit report for up to 10 years. You may wonder what good discharging your debt has done. However, it’s possible to start rebuilding your credit soon after your bankruptcy filing. In fact, lenders can look upon your lighter debt burden favorably. There’s also no possibility […]