Stop Car Repossession
You will probably want to stop car repossession if you have defaulted on your vehicle loan. If you stop making car payments, your financing company will repo your vehicle. No joke. Vehicle finance agreements are usually rock solid, and the finance company has all the power. Car repossession can happen without advance warning and without going […]
What is a Proof of Claim in Bankruptcy?
In bankruptcy, a Proof of Claim is a creditor’s written statement detailing the creditor’s claim against the debtor. A Proof of Claim is usually filed in Chapter 13 cases. But Proofs of Claim are sometimes filed in Chapter 11 and Chapter 7 cases, as well. Why file a Proof of Claim? A creditor may be […]
What is the Bankruptcy Discharge?
What is the Bankruptcy Discharge? Usually, the whole reason to declare bankruptcy is to obtain the bankruptcy discharge. Once you have received your discharge in bankruptcy, no discharged creditor can take any enforcement action against you, ever. In other words, the discharge order forever prohibits any type of collection effort against you for a discharged […]
A Short Glossary of Bankruptcy Terms
Here is a short glossary of essential bankruptcy terms. Many definitions are not included. Do not attempt to manipulate concepts you do not fully understand. Call an attorney if you have a legal problem. Bankruptcy terms: A – C Adversary Proceeding: A lawsuit related to a bankruptcy case and commenced by filing a complaint with […]
Top Three Reasons to File Bankruptcy
Bankruptcy is not appropriate for every situation, and the primary concern of a bankruptcy lawyer is to explore all of the options to determine whether bankruptcy or some other option is the best choice for you. No one intentionally chooses financial hardship. But how you face your adversity impacts your outcome. Here are the Top […]
Debt Settlement Companies are Rip-Offs
There exists no independent research on the success rates of so-called “debt settlement” companies. Both internal company reports and copious anecdotal evidence suggest that fewer than one in four of those who hire these companies actually complete their programs. Even more troubling, most debt settlement clients are sued by their creditors while in a debt settlement […]
What is Skip Tracing?
Skip tracing (or “skiptracing”) is the imprecise and frequently inartful process of locating a person’s whereabouts by whatever means available to the skip tracer. Skip tracing tactics are most often employed by debt collectors, although the methods are also used by law enforcement, private investigators, bounty hunters, and journalists. Skiptracing is also sometimes referred to […]
How Will Bankruptcy Affect My Credit Score?
Bankruptcy fixes many past and current financial problems. But before you file, it’s smart to ask: How will bankruptcy affect my credit score? What is my credit score? Your credit score is a numerical expression (between 300 and 850) based on the statistical analysis of your individual credit data. Your credit score is very important. […]
The Meeting of Creditors: Who Will Show Up?
About a month after you file for Chapter 7 or Chapter 13 bankruptcy, you will need to go to the Meeting of Creditors. Your attendance at this meeting is mandatory. But who else will show up? The Meeting of Creditors Also known as the Section 341 hearing, the Meeting of Creditors allows a court-appointed trustee […]