Tag: filing for bankruptcy Archive
What Counts as an Asset to the Bankruptcy Court?
Some consumes fear filing for bankruptcy because of what they think the will have to give up. We all work hard for what we have. Even if what we have isn’t much, we still don’t want to have to give it up and start over. It makes bankruptcy seem like ...
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Does Filing a Business Bankruptcy Hurt My Credit Score?
When times get difficult for a business, it seems as if closing the doors and shutting down the business should be simple. But when the business has credit cards with balances and vendors that are owed money, it can get confusing for those who are considering filing for a business ...
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Stop RV Repossession by Filing for Bankruptcy
Is it possible to prevent the bank from repossessing a recreational vehicle (RV) by filing for bankruptcy? Filing for Chapter 7 bankruptcy makes it possible to save your home, but can it do the same thing for an individual or family who uses their RV as their primary residence? Can ...
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Bankruptcy Protection and What to Do When Creditors Ignore It
Sometimes creditors seem to completely ignore bankruptcy protection. For petitioners it can be extremely frustrating as one of the main benefits of filing for bankruptcy is to obtain relief from creditors seeking payment that isn’t available. When creditors ignore the protection provided by bankruptcy, there is action you can take. ...
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Credit Cards and Bankruptcy – “Saving” Cards from Bankruptcy Discharge
Many southern California bankruptcy experts would argue that the single most important thing you need to do when considering filing for bankruptcy is STOP using your credit cards. The worst thing you can do for a potential bankruptcy case is to give the appearance that you are “running up” your ...
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Statement of Intentions for Chapter 7 Bankruptcy
On the Chapter 7 bankruptcy paperwork, filers will see four options on the “Statement of Intentions” form: Surrender, Redeem, Reaffirm or Other. This is your declaration of intention regarding the secured debts in your name. Secured debts include items such as: mortgages, vehicle loans, jewelry loans, timeshares, furniture/appliance loans, etc. ...
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Should I Declare Business Bankruptcy or Just Try to Pay Off the Remaining Debt Personally?
Starting up a business is a risk. Sometimes business is good, and sometimes it’s slow. Then there are the times when there’s no profit at all. If you’ve been left with a business with debts close to or equal to its assets, you might be having difficulty deciding if bankruptcy ...
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US Bankruptcy Filings Down Again: Decreased 10.1% in February 2015
According to Epiq Systems, US bankruptcy filings are down again by 10.1% as of February 2015. Their latest monthly bankruptcy figures indicated a year-over-year decline. That makes 52 straight months of year-over-year declines in the US bankruptcy filing rate. The daily average of US bankruptcy filings in February was 3,422 in ...
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Bankruptcy and Lease Agreements
It is important to understand the laws governing bankruptcy and lease agreements when considering filing from bankruptcy. When entering into a commercial lease some lessors will attempt to include clauses that are not supported by law. Specifically, lessors may include clauses prohibiting bankruptcy during the term of the lease agreement. ...
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How to Reestablish Credit with No Disposable Income
There are those who talk about the increased strictures that been put in place on credit in today’s market, but even after it became a lot “harder” to get credit…it’s still pretty easy. There are always companies willing to offer credit opportunities, even to those with little to no income. ...
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