Tag: southern california bankruptcy experts Archive
HELOC and bankruptcy: Negotiating, Foreclosing or Settling?
Justin Harelik
April 16, 2015
If you have questions regarding how filing for bankruptcy will affect your home equity line of credit, meet with an attorney and have HELOC and bankruptcy explained to you before proceeding. When you file for bankruptcy, the trustee reviews your case. If the trustee has no issues with your petition, ...
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Bankruptcy and Divorce: When Your Ex Files Without Adhering to the Property Settlement Agreement
Justin Harelik
March 26, 2015
So you filed for divorce. During the divorce process, a Property Settlement Agreement (also known as the Marital Settlement Agreement) was created detailing out the division of assets and liabilities. In this agreement, it’s common for the family home to be designated to one of the two parties. When this ...
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Home Equity and Filing for Bankruptcy: Limited Protection for the Equity in Your Home
Justin Harelik
March 25, 2015
Before filing for bankruptcy, you’ll want to educate yourself on the laws concerning home equity and filing for bankruptcy. Due to the limitations on how much of your home’s equity can be protected through Chapter 7 bankruptcy (limitations vary by state), some bankruptcy petitioners find themselves in need of some ...
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Bankruptcy and Credit Cards
Justin Harelik
March 3, 2015
When considering options prior to filing for bankruptcy, there is one basic concept that is frequently overlooked: ALL debt should be included in your bankruptcy filing. This holds true for bankruptcy and credit cards as well. Even after the question has been asked and answered many potential bankruptcy filers have ...
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Bankruptcy and Taxes
Justin Harelik
January 7, 2015
It seems that anything you do nowadays is going to have tax consequences, so it shouldn’t surprise anyone that bankruptcy will have a few tax consequences of its own. Make sure you are informed about the laws regarding bankruptcy and taxes starting with noting down the difference between the consequences attached ...
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When Does it Make Sense to Delay Filing for Bankruptcy?
Justin Harelik
December 9, 2014
Many will tell you that you should never delay filing for bankruptcy and the logic behind this type of statement makes sense. If you know that you are buried in an amount of debt that you can’t conceivably recover from, delaying can only mean that the mountain of debt will ...
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Rebuild Your Credit After Bankruptcy: The Fast Method
Justin Harelik
November 24, 2014
Everyone knows that a bankruptcy doesn’t destroy your credit forever. The mark only stays on your credit report for up to 10 years. Even while the mark is on your credit report, appropriate financial activity can improve your credit score to the point where you won’t notice the negative effect ...
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How Does Chapter 7 Affect an Irrevocable Trust to a Minor?
Justin Harelik
October 27, 2014
Individuals in financial trouble can file Chapter 7 bankruptcy in order to wipe their debt slate clean. It provides a fresh financial start. Filing for Chapter 7 means surrendering control of your assets. Assets are managed by the bankruptcy trustee assigned to your case and may be liquidated or sold ...
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Who Is Notified When You File for Bankruptcy in California?
Justin Harelik
October 21, 2014
Many individuals who consider filing for bankruptcy immediately start to worry about who will know that they have filed. They can’t help but wonder, who exactly knows when you file for bankruptcy? When you file for bankruptcy, the filings will become a part of the public record (as will most ...
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Changes to Bankruptcy Filing and How They Could Affect You
Justin Harelik
October 17, 2014
There have been several changes to U.S. bankruptcy laws since 2005 that make it harder to file in comparison to years past. When changes such as this are implemented towards a process that was created to protect the average consumer from financial ruin, it’s important to know how they will ...
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