Archive for the ‘Credit and Bankruptcy’ Category

One Common Concern that Keeps Consumers from Filing Bankruptcy

December 13th, 2013 by Reed Allmand

Credit Counseling vs. Bankruptcy

Is filing for bankruptcy really as damaging as you think it is? For a while, people have been avoiding bankruptcy because of the supposed negativity that happens afterwards.  Things really have changed and as more consumers get educated about bankruptcy and how it can help you, you may see this option in a new light. […]

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Why It Is Important to Review Your Credit Report before Filing Bankruptcy

December 12th, 2013 by Reed Allmand

Common Mistakes Made When Filing Bankruptcy

You may hear about why it is important to review your credit report annually to make sure information is current and being reported properly to the credit bureaus. But anyone considering bankruptcy should also review their report to make sure they include all of their creditors in their documentation and schedules.  You are required to […]

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Getting Protection through Bankruptcy before Creditors Make Their Move against You

August 22nd, 2013 by Reed Allmand

Bankruptcy Counseling: Learn These Important Financial Terms

It is common for people to have outstanding debt and while the amount owed varies, many may not be aware of how close they are to having their creditor take legal action against them.  For a number of debtors, legal action from a creditor comes at a time they least expect it.  This reason alone […]

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Why You Should Not Be Afraid to File Bankruptcy

August 20th, 2013 by Reed Allmand

Bankruptcy Benefits The Average Debtor Far More Than Opponents Will Admit

There are a number of misconceptions about bankruptcy with many consumers under the impression that filing will hurt them.  Fortunately, the process can help you and once you gain the necessary knowledge and get clarity about filing, it may improve your financial situation in more ways than one.  In short, if you are unsure about […]

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Stopping Collection Attempts from Creditors with Bankruptcy

July 17th, 2013 by Reed Allmand

past-due

Bankruptcy may help stop a number of collection attempts from creditors depending on your situation.  Many people have a habit of ignoring or neglecting collection notices from creditors and wait too long to begin the filing process.  Meaning in some cases, it may have made sense legally to file sooner to avoid further action being […]

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5 Actions to Consider Before Filing Bankruptcy

June 24th, 2013 by Reed Allmand

Considering Bankruptcy? 5 Factors Debtors Should Review

Filing for bankruptcy can help you eliminate or regain control of your financial obligations.  Keep in mind, it may not be the only option for you to consider, but many see it as a last resort when they have done other actions to try and resolve financial issues.  Bankruptcy experts and credit counselors even suggest […]

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Can a Bank Account Belonging to My Spouse Be Sought by Creditors in Bankruptcy?

May 8th, 2013 by Reed Allmand

Can I Reopen an Unemployment Claim if I Quit My Job?

In many cases, assets that belong to your spouse may be off limits to creditors but it depends on the circumstances of the spouse filing for protection.  There are a few factors to review that may give clarity regarding account funds.  You need have a good idea of what assets are considered part of your […]

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What Happens When Creditors Try to Collect after My Bankruptcy is Discharged?

February 12th, 2013 by Reed Allmand

Creditors Try to Collect after  Bankruptcy

When you receive a discharge at the end of your bankruptcy case you are not responsible for paying the debt.  A discharge basically extends the protection of the automatic stay that went into effect when you filed your petition.  Debts not eligible for discharge may continue to be the responsibility of the debtor.  On the […]

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Fraudulent Credit Card Charges in Bankruptcy

December 26th, 2012 by Reed Allmand

Credit card debt is one of the most common forms of debt that is discharged or eliminated in bankruptcy.  While bankruptcy is a powerful tool that can eliminate qualifying debt, if a credit card company senses fraud in your case, this may reduce chances of the debtor getting debt discharged.  So what is the difference […]

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Should I Stop Using My Credit for a Certain Time Period before Filing Bankruptcy?

December 10th, 2012 by Reed Allmand

Credit card use may be a concern for debtors experiencing job loss or those finding it a challenge to make ends meet. While juggling daily expenses many have a hard time meeting debt obligations. Bankruptcy may be the next step for those who are considering the option. Many consumers understand they should stop using their […]

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FAQ

Why do I need to submit a new wage order when I modify my plan

When we modify your bankruptcy plan we are changing your plan payments. This means that we have to get with your employer and change the terms and amount of your wage order. The only way we can do that is by filling out a new wage order form.  

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What happens if the stay terminates on my home?

If the bankruptcy stay terminates on your home that means that even though your in bankruptcy, your creditor can pursue all there legal remedies they can pursue if you were not in bankruptcy. This includes foreclosure, and having your house sold and evicting you from your house.

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