Tag: southern california bankruptcy attorneys Archive
Credit Cards and Bankruptcy – “Saving” Cards from Bankruptcy Discharge
Justin Harelik
June 3, 2015
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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Post Bankruptcy: Business Credit Cards and Personal Liability
Justin Harelik
June 1, 2015
When an individual files for bankruptcy both personally and for their business, credit accounts for the business that had the spouse’s name listed will sometimes come back for payment on the debt post bankruptcy. They’ll get in touch with the spouse who did not file bankruptcy. In some cases, even ...
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Protecting Your Home Equity and Bankruptcy
Justin Harelik
May 13, 2015
Many who find themselves in financial straits worry about the fact that they have worked hard to purchase a home and pay substantial sums of money towards paying off the loan so they could own outright. When the time comes that you realize that you are about to be sued ...
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Statement of Intentions for Chapter 7 Bankruptcy
Justin Harelik
May 7, 2015
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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Student Loan Debt Leading to Bankruptcy
Justin Harelik
May 4, 2015
Many college students end up with major debt when they step out of their commencement ceremonies. Out-of-control student loan debt is a major problem with rising tuition costs. Many parents of college students are even taking out parent loans to pay for their children’s college education. As an experienced southern ...
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How Long Is a Chapter 13 Repayment Plan?
Justin Harelik
April 15, 2015
When considering a Chapter 13 bankruptcy, you might wonder if it’s better to get a 3 year pay back in order to get the recovery process started. Being on a fixed budget is an unpleasant prospect for many and thinking of the inconvenience may lead you to desire a shorter ...
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Should I Declare Business Bankruptcy or Just Try to Pay Off the Remaining Debt Personally?
Justin Harelik
April 6, 2015
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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Bankruptcy and Property: Allowing a Home Included in a Chapter 13 Bankruptcy to Foreclose
Justin Harelik
March 27, 2015
If you filed for Chapter 13 bankruptcy, included your home, successfully completed a few years of the agreed upon repayment plan, but now find yourself unable to make your modified loan payment, can you walk away from the home? Can a lender foreclose on a home included in a Chapter ...
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Bankruptcy and Home Mortgage
Justin Harelik
March 9, 2015
Many of the clients we consult have early questions regarding bankruptcy and home mortgage. When filing for Chapter 7 bankruptcy, consumers have the option to reaffirm their mortgage. If filers are current on their loan payments and will be able to meet future payments, reaffirming the loan simply informs the ...
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If I Don’t Make My Minimum Monthly Credit Card Payment Will I Get Arrested?
Justin Harelik
March 5, 2015
There are so many people that are struggling with overwhelming debt. Many of those who find themselves in an impossible situation financially attempt to “do what they can” to stay in good standing. Doing what they can usually means sending in as much money as possible, but not meeting the ...
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