January 31st, 2012 by Reed Allmand 
The automatic stay is what stops creditors from pursuing collections against a debtor when bankruptcy is filed. In most cases, it either stops or temporarily ceases collection activity which gives you more time to handle finances. The action can be powerful against those who are at risk of eviction, foreclosure, utility disconnection and it can [...]
More...January 23rd, 2012 by Reed Allmand
If you’re struggling under a mountain of debt, you might have already toyed with the idea of declaring Chapter 7 or Chapter 13 bankruptcy. Perhaps it was just a flitting thought, or maybe you’re seriously considering it. But no matter what stage you’re at in any pre-bankruptcy planning, it’s vital for you to line up [...]
More...January 20th, 2012 by Reed Allmand
Under the bankruptcy laws enacted in 2005, bankruptcy petitioners need to be more cautious about their credit card use than ever before. It’s not just because bankruptcy courts can dismiss bankruptcy petitions over what they deem to be overtly fraudulent use – it is because card lenders can file a dispute to block your bankruptcy [...]
More...September 23rd, 2011 by Reed Allmand
If you’re considering bankruptcy, then you probably already know that debtors are required to take a credit counseling course within 180 days of filing bankruptcy and before they can receive their discharge. The credit counseling course will cover basic budgeting topics, how to manage debt and other tips on how to avoid a future bankruptcy [...]
More...September 23rd, 2011 by Reed Allmand
With additional regulations in place that require loan issuers to verify a debtor’s ability to pay, the three major credit bureaus are expanding their reach into Americans’ financial lives. More lenders are now probing consumers’ personal financial data in ways they didn’t in the run-up to the Great Recession, industry experts and consumer groups say. [...]
More...August 31st, 2011 by Reed Allmand
The Labor Department reports that there are officially 13 million Americans out of work; but if you were to count those who have given up on finding a job unemployment numbers would rise even higher. One of the ironic effects of high unemployment has been that fewer Americans are using credit cards. The decline in [...]
More...August 30th, 2011 by Reed Allmand
Many debtors filing bankruptcy worry about how potential employers will view their bankruptcy filing. The truth is that the vast majority of employers probably won’t care. Bankruptcy has become very common and companies are more educated about why many debtors need to file bankruptcy. However, there may be some employers who are a little cautious [...]
More...August 29th, 2011 by Reed Allmand
Due to the lack of conventional credit access right after your bankruptcy discharge, you may be tempted to take on short-term loans with high interest rates. Most post-bankruptcy debtors already know about the dangers of predatory payday loans; but what about the new and “improved” versions of payday loans offered by traditional banks? Many banks [...]
More...August 29th, 2011 by Reed Allmand
Now that the amount of delinquencies and defaults are on the rise, many creditors are using lawsuits more frequently to collect debts. What should a debtor do if they receive notice of a creditor lawsuit filed against them? Below are few tips: Tip #1: Don’t panic. Lawsuits filed by creditors are used to not only [...]
More...August 18th, 2011 by Reed Allmand
The number of homeowners facing foreclosure remains elevated despite hopes that the housing market was recovering. Many homeowners who are months or even more than a year delinquent on their mortgage payments fear an eviction could come any day. But many of the homeowners facing foreclosure wonder if they should walk away from their mortgage, [...]
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If you have been unemployed for a while, you may be thinking about making a career change or seeking self-unemployment. Keep in mind, some state programs are not eligible for those who are self-employed but some states may allow you to collect unemployment benefits while working toward self-employment. You’ll have to review rules and requirements [...]
An offer in compromise lets taxpayers settle tax debt for less than the original amount that is due. While the paperwork for the process can be obtained by the taxpayer who is seeking to apply, it has been recommended to work with a tax expert during the process. There are rules and requirements that need [...]
The bankruptcy process may seem challenging depending on personal circumstances and which chapter is filed. It is often wondered what happens when a co-signer files for bankruptcy protection. In many cases, a co-signer situation makes both parties responsible for outstanding debt. If the account in question goes into default, either party can be pursued by [...]
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.
Learn MoreIf 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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