Archive for the ‘Credit Card Negotiation’ Category

Credit Card Debt and Bankruptcy: When You May Want to Wait to File

December 4th, 2013 by Reed Allmand

How is Credit Card Debt Handled in Chapter 13 Bankruptcy?

Credit card debt is one of the most common forms unsecured debts to be discharged in bankruptcy. If you used your card recently for large purchases it is possible they may be reviewed to make sure they can be successfully discharged.  This is due to certain charges that may not be eligible for elimination, and […]

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Can I Keep My Credit Card if I File Chapter 7 Bankruptcy?

January 4th, 2013 by Reed Allmand

Most people look to file Chapter 7 bankruptcy to eliminate credit card debt.  Some feel it may not be a good idea to keep your credit card especially if you plan on using it after your case is completed.  The good news is it is possible to keep your credit card after filing bankruptcy.  Many […]

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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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Plastic Dependency

September 17th, 2012 by Reed Allmand

Plastic Dependency

Credit Cards have been around for decades, and the debt that can come along with them can pose real financial challenges. Here’s a look at the state of credit card debt and how it’s affecting Americans. Please use the HTML code below to embed this graphic: Created By: Allmand Law Bankruptcy Firm

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What You Should Know About Credit Card Delinquencies and Potential Lawsuits

April 16th, 2012 by Reed Allmand

What You Should Know About Credit Card Delinquencies and Potential Lawsuits

Credit card debt is the most common form of debt that is unsecured.  This means that if you default on payments or choose not to repay what is owed, the credit card company has a right to sue.  Depending on what is owed on the account, a lien may be placed against property or you […]

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Lowering Your Credit Card Rates After Personal Bankruptcy

March 1st, 2012 by Reed Allmand

Lowering Your Credit Card Rates After Personal Bankruptcy

At first glance, the title of this article might seem a little ambitious to you. After all, if you have credit cards after personal bankruptcy, you just may feel grateful that you even have access to credit. Therefore, you may be willing to put up with any interest rate that your lenders want to charge you, […]

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Post-Bankruptcy Survival: Four Things You Should Know About Your Credit Card

August 16th, 2011 by Reed Allmand

Post-Bankruptcy Survival: Four Things You Should Know About Your Credit Card

One of the first tools post-bankruptcy debtor uses to rebuild their credit score is the credit card. While they may start off with a secured credit card, within a year of making regular payments post-bankruptcy debtors can graduate to unsecured credit cards.  But what are some of the important facts debtors coming out of bankruptcy […]

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Post-Bankruptcy Survival: Don’t Let Credit Card Changes Take You By Surprise

February 9th, 2011 by Reed Allmand

Version of an image of a credit card

There is good news and bad news for post-bankruptcy debtors searching for credit card offers in the coming year. The good news is that more credit card issuers are willing to lend to more consumers, even those who have filed bankruptcy. Credit card solicitations have nearly doubled in the past year and many of them target the sub-prime market, those with little credit, poor credit and those debtors who have filed bankruptcy. But let’s take a look at some of the other changes that might not be good news for borrowers exiting bankruptcy.

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Rise In Credit Card Delinquency May Indicate Future Rise In Bankruptcy Filings

January 24th, 2011 by Reed Allmand

A smartcard graphic, without banklogos or simi...

The delinquency rate for credit cards issued by banks has risen from 3.62 percent to 3.65 percent in the past year. Some analysts note the persistently high unemployment rate as the reason for the rise in credit card delinquency. This may be true; but the rise in credit card delinquency rate is also being caused by the undying idea in our society that credit card debt is somehow justified even if we know that credit card debt often leads to bankruptcy.

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Student Loans As Income On Credit Card Applications?

January 20th, 2011 by Reed Allmand

Credit card

A recent study on the impact of the Credit Card Act on students conducted by Jim Hawkins at the University of Houston Law Center, surveyed over 300 undergraduates in November and found that a full 29% of students under 21 who obtained a credit card since starting school this academic year used student loan proceeds as part of the income they reported to card issuers in their credit card applications. If this is true, then it is an outrage. Student loans is not income, it is debt and not designed to fund credit card companies.

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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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