Tag: southern california bankruptcy Archive
Taking On Your Credit Report: Step Two
Justin Harelik
August 3, 2016
After you’ve pulled your credit report, adjusted your mindset to your new, lower credit score, and made your credit score goal of 720, you’re ready for the next step. Step Two: Update Your Information with the Credit Bureaus Start at the beginning and make sure that all the information reflected ...
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Taking On Your Credit Report: Step One
Justin Harelik
August 1, 2016
The first thing you have to do when it’s time to restore your credit after bankruptcy is to access your credit. Pull your report and get a good understanding of where you are and where you want to go. What do I mean by that? Step One: Pull Your Credit ...
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The Four C’s: Analyzing a Credit Application
Justin Harelik
June 29, 2016
There are four major elements of a general underwriter’s guidelines in reviewing and analyzing a credit application for the lender. We like to call it the Four C’s: credit, capacity, collateral, and character. The Four C’s: Credit – The applications you submit immediately after bankruptcy, at the beginning of your ...
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What Makes Up Your Credit Score?
Justin Harelik
June 28, 2016
It’s one thing to decide that you are going to rebuild your credit score after bankruptcy, but it’s another thing to do it – particularly when you aren’t sure where credit scores come from. What makes up your credit score? Payment History (35%) Outstanding Debt (30%) Age of Your Credit ...
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Tell Your Bankruptcy Story: Your Very Own Sound Bite
Justin Harelik
June 27, 2016
According research, over 80% of bankruptcy petitioners have dealt with: illness, divorce, or unemployment. What’s your bankruptcy story? Prepare your very own 30-40 second sound bite explaining why you filed for bankruptcy protection. This is important because as you begin your quest towards a credit score of 720, you are ...
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Credit Card Debt and Bankruptcy: Will I Get Sued?
Justin Harelik
December 8, 2015
As a bankruptcy attorney, I am often asked about credit card debt. More often than I would like, however, those questions come in the style of, “How bad am I going to get sued by the collection agency?” Other variations on this topic include concerns regarding whether or not a ...
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Chapter 13: Involved with Credit Unions for Home Loans
Justin Harelik
November 26, 2015
Working with credit unions when you are in good standing is great, however it is very difficult when you are behind on your loan payments. They take it personally when a customer defaults on a payment agreement or the debt becomes discharged during a bankruptcy. They have lost money when ...
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Listing Collection Agencies During the Filing of Bankruptcy
Justin Harelik
November 24, 2015
Often unpaid debts can change hands many times during the course of attempted payment, especially when the debt is old. It is often impossible to list all the collection agencies who have handled a specific debt while filing your case. It is also unnecessary. You do not need to be ...
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Filing that Second Bankruptcy: Should or Should Not?
Justin Harelik
November 20, 2015
Poor financial decisions, recessions or the loss of a job can happen at any time during a person’s life. These times may happen more than once in a person’s life and require considering many less than ideal options. Sometimes filing a second bankruptcy is a way to wipe the slate ...
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The Status of Your Home During Chapter 7 Bankruptcy
Justin Harelik
November 18, 2015
Often people are worried about losing their home when considering filing for Chapter 7 bankruptcy. The fear of losing their home often inhibits people from filing for bankruptcy protection regardless if there is any equity in the home or not. A bankruptcy homestead exemption is the amount of equity that ...
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