Tag: file for bankruptcy Archive
Re-establishing Your Credit After Filing for Bankruptcy
Justin Harelik
February 9, 2016
Bankruptcy is just one of many reasons for a low credit rating. However, it isn’t all that difficult to re-establishment yourself in the credit arena. There are many lenders out there that are more than willing to open up a credit line to high-risk borrowers. Even people with little to ...
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Weighing Your Options: Bankruptcy or Credit Counseling
Justin Harelik
February 5, 2016
Let’s take a minute to look at the consequences of bankruptcy versus credit counseling. You could run into several difficult situations resulting from either one of these choices. I’m a bankruptcy and I’ve worked with a lot of different people considering (and taking action to complete) one or the other ...
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Do I Have to Include Loans I Co-Signed in My Bankruptcy?
Justin Harelik
February 3, 2016
Many bankruptcy filers come to me with unnecessary anxiety. They fear that they can’t list this creditor because last year they made a charge on the account. They’re nervous that they can’t list another creditor because they just opened the account a few months before when they were still gainfully ...
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The Bankruptcy Process: Chapter 13, Foreclosure & Chapter 7
Justin Harelik
February 1, 2016
There are several things you must consider before walking away from your home after filing Chapter 13. In a Chapter 13, your mortgage payments are rolled back into the loan, making the mortgage current. This is called a loan modification – eliminating any past due payments. The bankruptcy trustee assigned ...
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Joint Credit Accounts and Filing Bankruptcy
Justin Harelik
January 26, 2016
As I’ve said before, finances and credit concerns can be even more difficult to deal with when the individual involved has financial ties to another person. For example, if a potential bankruptcy petitioner jointly owns a house or a car with someone else, there would be reasonable concern there for ...
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Chapter 7 Bankruptcy: Too Much Equity in Your Home
Justin Harelik
January 25, 2016
One of the only times that having “too much equity” in your home will hurt you is when you are filing for Chapter 7 bankruptcy. It seems contradictory, but having too much equity in your home can seem to turn into a consequence for petitioners hoping to obtain a discharge ...
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Southern California Bankruptcy: How Exactly Does this Work?
Justin Harelik
January 18, 2016
Filing bankruptcy is intended as a protection for consumers from overwhelming debt. It seems simple at the outset, but it’s like having a house built. If you’ve never done it before, it seems like a simple concept. You look at them and then decide which one you like best and ...
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Drowning in Business Debt and Considering Bankruptcy
Justin Harelik
January 14, 2016
Opening a new business is one of the most exciting times of anyone’s life. The initial stages are full of questions you’re excited to answer and decisions you can’t wait to make. For some, this excitement continues as the business grows and the opportunity to succeed becomes more solid with ...
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Do Lease Agreements Typically Prohibit Future Bankruptcies?
Justin Harelik
January 13, 2016
When your business moves into a new place, it’s normal to be required to sign a lease. Sometimes the lease can seem skewed to protect the rights of the landlord – and that’s because they’re basically risking their property by agreeing to lease it to you. On the other hand, ...
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Can You File for Bankruptcy on a House that Your Ex Got in the Divorce?
Justin Harelik
August 24, 2015
Sometimes the FINAL divorce decree isn’t quite as final as we would have liked. In many instances, what seems cut and dry at the time of the divorce isn’t as simple as you thought. For instance, your ex may get the house in the divorce, but if it isn’t specified ...
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