Denver Bankruptcy Attorney

I got my first mortgage delinquency notice, but I can pay my mortgage payments in full now. Am I going to lose my home?

Katz Web Services — Tue, 22 Dec 2009 23:21:04 +0000

Foreclosure is a process. If you are available to make all of your back payments while staying financially solvent you should do so. If you can get your mortgage payment current without further assistance the foreclosure process will be immediately halt as soon as payments are current and any applicable late fee is paid.

Are couples filing jointly allowed more exemptions than individual filers?

Katz Web Services — Tue, 22 Dec 2009 17:01:37 +0000

In general, couples filing for bankruptcy jointly are allowed twice as much exempt property value, which makes sense since it is the property of two individuals instead of one. Some pieces of property, such as a home may have a specific allowable exemption value regardless of whether it is a couple filing or an individual.

How do I protect my car under a Chapter 7 bankruptcy?, Do married couples need to file jointly?, Can couples file bankruptcy jointly?

Can any Denver bankruptcy attorney guarantee me a successful bankruptcy case?

Katz Web Services — Mon, 21 Dec 2009 18:13:15 +0000

No. Although most Denver bankruptcy attorneys will only help individuals who truly qualify for bankruptcy, if the filer does not follow through with all steps of a bankruptcy the case will be dismissed. You as the filer need to be honest with your attorney and the court and complete all steps honestly and completely.

When filers work effectively with their attorney, bankruptcy is almost always confirmed without hesitation.

Can I appeal the bankruptcy court’s decision on my own?, Denver Bankruptcy Attorneys, Do all Wheatridge bankruptcy attorneys offer the same services?

Do exemptions exist in Chapter 13 bankruptcies?

Katz Web Services — Mon, 21 Dec 2009 16:55:59 +0000

The term exempt property does not exist in a Chapter 13 filing but all property is protected during a Chapter 13 bankruptcy. Since payments are restructured, as long as remaining payments are made the property will be safe and will remain in the possession of the bankruptcy filer.

What does exempt mean in a Chapter 7 proceeding?, Bankruptcy Exemptions, Bankruptcy Myths

Do all bankruptcy lawyers charge the same fee for a bankruptcy filing?

Katz Web Services — Sun, 20 Dec 2009 18:10:23 +0000

No. Like anything, you will usually pay for what you get. Some bankruptcy lawyers offer full service experiences which will make sure you are comfortable and in control of your bankruptcy from day 1 until discharge, other firms just file forms and let you figure the rest out for yourself.

Choosing the firm that will offer exactly what you need can be the difference between a stressful bankruptcy which is dismissed and one which is manageable and successful.

What should I look for in a bankruptcy lawyer?, Do all bankruptcy lawyers offer the same services?, Do all Wheatridge bankruptcy attorneys offer the same services?

Does exempt mean a piece of property can never be repossessed?

Katz Web Services — Sun, 20 Dec 2009 16:37:18 +0000

All items that have dischargeable debts will be the filers property free and clear following discharge and cannot be seized to repay debts. Property such as a home that cannot have its associate debt discharged can be foreclosed upon following discharge if the filer does not stay current with payments but if the home is classified as exempt during the bankruptcy it will not repossessed during the bankruptcy process.

What does exempt mean in a Chapter 7 proceeding?, My house was foreclosed and sold at auction. Can bankruptcy help me get my house back?, How do I make my property exempt?

How do I know that an attorney or firm is right for me without hiring one and trying them out?

Katz Web Services — Sat, 19 Dec 2009 18:09:04 +0000

Almost all good law firms will offer a free consultation to evaluate your situation and let you know if you qualify for bankruptcy. During this free consultation you can ask questions, learn about the firm, and see if it is right for you.

Do all bankruptcy lawyers charge the same fee for a bankruptcy filing?, Do all Wheatridge bankruptcy attorneys offer the same services?, How We Can Help

How do I make my property exempt?

Katz Web Services — Sat, 19 Dec 2009 16:35:22 +0000

To make property exempt, the bankruptcy filer must make sure to claim the desired items as exempt in the filing forms and properly identify each item and its value. There are limits to exemptions and allowable exemptions are specific to item types that can be considered day to day necessities such as clothing, transportation, housing, trade tools, pension, earnings, and household items.

What does exempt mean in a Chapter 7 proceeding?, Does exempt mean a piece of property can never be repossessed?, Bankruptcy Exemptions

Do low cost bankruptcy packages cover a complete filing?

Katz Web Services — Fri, 18 Dec 2009 18:07:54 +0000

In most cases, low cost attorney filing assistance only covers the filing of forms and will not include an attorney appearance in court or having someone available to answer any questions you may have during the filing process. What each bankruptcy attorney offers needs to be evaluated prior to hiring any lawyer.

Do all bankruptcy lawyers offer the same services?, Is it possible to keep all of my salary increase in a Chapter 13 bankruptcy?, How much is the Chapter 7 filing fee?

Do all Wheatridge bankruptcy attorneys offer the same services?

Katz Web Services — Fri, 18 Dec 2009 18:06:12 +0000

No, not all Denver-area bankruptcy lawyers offer the same services.

If you are looking for specific service such as being able to work with the same lawyer each time you call in or to have a qualified lawyer available to consult with you each time you have a question, you must choose the firm you work with carefully. Each firm has their own policies and offer a different set of services.

We believe that working with the same bankruptcy attorney at each stage is important to how comfortable you are.

Do all bankruptcy lawyers offer the same services?, Contact Us, Denver Bankruptcy Attorneys

What does exempt mean in a Chapter 7 proceeding?

Katz Web Services — Fri, 18 Dec 2009 16:34:04 +0000

An exempt item is one that cannot be repossessed or sold to repay a bankruptcy filers debts during a liquidation. Exempt items will remain in the possession of the filer during and following a bankruptcy.

How do I make my property exempt?, Does exempt mean a piece of property can never be repossessed?, Do exemptions exist in Chapter 13 bankruptcies?

If my bankruptcy plan is confirmed by the court what is the next step?

Katz Web Services — Thu, 17 Dec 2009 17:52:11 +0000

If confirmed the plan becomes active and you need to follow it to completion. Following completion of the bankruptcy plan all dischargeable debts will be discharged.

Can any Denver bankruptcy attorney guarantee me a successful bankruptcy case?, What is a Chapter 13?, What is a Chapter 13 repayment plan?

Where are bankruptcy crimes cases tried?

Katz Web Services — Thu, 17 Dec 2009 16:32:45 +0000

Since bankruptcy is a federal program, most bankruptcy crimes cases are tried in federal court . Bankruptcy fraud is considered a serious white color crime, being that the individual is trying to defraud both creditors and a federal court, and bankruptcy crimes cases are usually prosecuted to the fullest extent of the law.

What are bankruptcy crimes?, Bankruptcy Crimes, What type of punishments exist for bankruptcy crimes?

How do I make sure that I avoid bankruptcy charges?

Katz Web Services — Thu, 17 Dec 2009 16:31:08 +0000

Doing everything right the first time is the best way to make sure that no one suspects you of a bankruptcy crime. In general, if you were to use a bankruptcy lawyer the chance that a significant error would be made would become very low and your lawyer could help you avoid legal missteps.

Is there any way to avoid case dismissal in the first place?, Can I appeal the bankruptcy court’s decision on my own?, What are bankruptcy crimes?

I am about to lose my home but have a negative equity in it, should I just let it be foreclosed?

Katz Web Services — Wed, 16 Dec 2009 18:47:23 +0000

A foreclosure can have lasting effects on your ability to get loans in the future and can end up causing other serious financial problems. When bankruptcies are not appropriate for your situation, the option of negotiating a short sale with your lender will prevent significant detriment to your credit report and may very well work in your creditors best interest. It is an option you can explore on your own or by contacting a lawyer or credit counselor.

Can I get help repairing my credit?, How do I save my home from foreclosure?, How do I rebuild credit after a bankruptcy?

Do I need to appear in bankruptcy court?

Katz Web Services — Wed, 16 Dec 2009 17:48:56 +0000

In most cases, at least once. In the “341 meeting” (a meeting of creditors), a bankruptcy filer will be briefly questioned on the specifics of their filing. There is also an opportunity for creditors to challenge a bankruptcy filing and ask questions at this meeting. Generally, most creditors will not show to your 341 meeting but it is their right to do so if they choose.

What can a bankruptcy attorney offer?, Can I hire someone to go to a meeting of creditors or bankruptcy court for me?, Bankruptcy Process

If I make an accidental error or omission on my filing forms will I be tried for bankruptcy crimes?

Katz Web Services — Wed, 16 Dec 2009 16:29:50 +0000

In general, the answer is no. Usually, if there are errors on a bankruptcy filing the case is dismissed when the errors are found, and as the case with all dismissals, the dismissal can be appealed. The charge of bankruptcy crimes is usually only made when there is significant evidence that a person fraudulently filed for bankruptcy for financial gain, such as hiding assets or defrauding creditors.

What are the most common reasons bankruptcy cases are dismissed?, Can I appeal the bankruptcy court’s decision on my own?, How long do I have to appeal a dismissal?

If I do not qualify for bankruptcy are there any options available to save my home from foreclosure?

Katz Web Services — Tue, 15 Dec 2009 18:44:46 +0000

Negotiation with your lender can be an option regardless of a person’s ability to file bankruptcy. It can be difficult to negotiate terms with your lender after you are already facing foreclosure, but many banks and lending institutions would prefer to keep borrowers in their home and paying their mortgage even if it required accepting less each month. The process of debt negotiation can be difficult but a qualified lawyer can help you negotiate your mortgage payments down to a manageable figure.

How do I save my home from foreclosure?, Is Immediate debt relief available?, Can refinancing stop a foreclosure?

Do I need to take any bankruptcy classes?

Katz Web Services — Tue, 15 Dec 2009 17:47:39 +0000

Following the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005, debtors need to undergo credit counseling prior to being discharged from bankruptcy. Credit counseling can be helpful in understanding how to manage interest payments as well as budget planning and the prevention of future financial dilemmas.

Can unmanageable debt really be repaid without filing bankruptcy?, Is Immediate debt relief available?, I am about to lose my home but have a negative equity in it, should I just let it be foreclosed?

What type of punishments exist for bankruptcy crimes?

Katz Web Services — Tue, 15 Dec 2009 16:23:58 +0000

Maximum allowable prison sentences and fines vary by on state and type of crime committed, but those accused of bankruptcy crimes could face up to $250,000 in fines and several years of jail time. In addition to having to pay fines and serve jail time, if you are found guilty of bankruptcy crimes you could have your discharge repealed if you have already received one or you could have your case dismissed if you have not yet received discharge.

If I make an accidental error or omission on my filing forms will I be tried for bankruptcy crimes?, Where are bankruptcy crimes cases tried?, Bankruptcy Crimes

My house was foreclosed and sold at auction. Can bankruptcy help me get my house back?

Katz Web Services — Mon, 14 Dec 2009 18:39:24 +0000

No. Bankruptcy can put a stay on foreclosures that have not yet preceded to the repossession and sale of a home but cannot turn back the hands of time. Bankruptcy can be started as soon as it becomes apparent an individual cannot possibly repay all debts they owe, so there is no reason to wait till after your home has been repossessed to file.

Does exempt mean a piece of property can never be repossessed?, How do I protect my home if I file a Chapter 7 bankruptcy?, How can I keep my house in a Chapter 7 bankruptcy if the equity of my home is above $60,000?

Can bankruptcy help me prevent foreclosure and keep my house?

Katz Web Services — Mon, 14 Dec 2009 18:33:54 +0000

Yes. Although your mortgage can not be discharged and the terms of your mortgage will not be effected by bankruptcy proceedings, bankruptcy can help resolve past due mortgage payments, fees, and halt or prevent foreclosure proceedings.

How do I save my home from foreclosure?, Is my house safe from foreclosure if I file a Chapter 13 bankruptcy?, I got my first mortgage delinquency notice, but I can pay my mortgage payments in full now. Am I going to lose my home?

What type of specialization or certifications should a bankruptcy attorney have?

Katz Web Services — Mon, 14 Dec 2009 17:58:58 +0000

In law, there are no certifications and official specializations. Instead, you should look for experience in the form of how many bankruptcy cases a lawyer has tried.

Bankruptcy is a specific type of law and lawyers who have tried the most cases tend to know more about bankruptcy filings and filing options than lawyers who practice general law and only try one or two bankruptcy cases a year.

Will my bankruptcy be published in the newspaper?, What should I look for in a bankruptcy lawyer?, Do I need a bankruptcy attorney?

How long do bankruptcies usually take from start to finish?

Katz Web Services — Mon, 14 Dec 2009 17:47:27 +0000

The length of each bankruptcy case is determined by a multitude of factors, the largest of which is the type of bankruptcy being filed.

Chapter 7 bankruptcies result in a fairly quick discharge and can be completed and often yield discharge in about 4 months following the initial forms being filed.

Chapter 13 bankruptcies can take over 5 years from initial forms being filed to the filer receiving discharge, but the bankruptcy filer does enjoy the protections of bankruptcy from the first day they file until their debts are discharged.

Bankruptcy Myths, What are the drawbacks of filing for bankruptcy?, How do I rebuild credit after a bankruptcy?

What information do I need to start my bankruptcy filing?

Katz Web Services — Mon, 14 Dec 2009 17:45:00 +0000

While filling out the first bankruptcy forms, regardless of type of bankruptcy, you will need to know your income, what you own, your debts, your monthly payment, and your ability to repay debts. These are things you should try to figure out before filling out forms, but if you are unable to do so the forms can help organize this information through identification and evaluation of each key element of a bankruptcy filing.

If I am interested in filing bankruptcy, how do I start?, How do I begin filing for bankruptcy?, How long do bankruptcies usually take from start to finish?

If I am interested in filing bankruptcy, how do I start?

Katz Web Services — Mon, 14 Dec 2009 17:38:29 +0000

An individual or couple can either visit their local bankruptcy court’s Clerk’s Office to pick up the forms, find and print the forms online from the court’s website, or visit a lawyer to get started. If you are planning to file on your own, after filling out forms you will either drop off or mail them to the local bankruptcy court. If you are using a bankruptcy lawyer, they will usually file the forms for you.

What information do I need to start my bankruptcy filing?, Are people available in the bankruptcy court’s clerk’s office available to help filers and answer legal questions during the filing process?, Do I need a bankruptcy attorney?

What are bankruptcy crimes?

Katz Web Services — Mon, 14 Dec 2009 16:23:51 +0000

Bankruptcy is a legal process and submitting false documentation, purposely omitting pertinent information, and committing outright bankruptcy fraud can be considered criminal acts and can be prosecuted like any other crime.

Where are bankruptcy crimes cases tried?, Bankruptcy Crimes, What types of debts cannot be discharged through a Chapter 13 bankruptcy?

Will others find out I filed a Chapter 7?

Katz Web Services — Tue, 01 Dec 2009 02:58:40 +0000

As with all bankruptcies, Chapter 7 bankruptcies are a matter of public record and if people search they can find the names of all those who have filed. In general, the names of those who file are not published in the newspaper and friends and family do not find out without searching public records.

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In general, when should couples file jointly?

Katz Web Services — Tue, 01 Dec 2009 02:58:14 +0000

Husbands and wives should file jointly when the majority of dischargeable debts are in the names of both individuals. If one spouse files bankruptcy and the other does not, creditors may attempt to collect on debts from the spouse who did not file Chapter 7 bankruptcy.

Do married couples need to file jointly?, Can couples file bankruptcy jointly?, What is a Chapter 7 discharge?

Can couples file bankruptcy jointly?

Katz Web Services — Tue, 01 Dec 2009 02:57:43 +0000

Couples can file jointly but the benefits of joint filing vary from case to case. To determine whether or not joint filing is correct for a husband and wife pair, it is usually necessary to get legal advice from an attorney or evaluate the benefits and disadvantages of both options prior to making a filing decision.

Do married couples need to file jointly?, In general, when should couples file jointly?, Are couples filing jointly allowed more exemptions than individual filers?

How much is the Chapter 7 filing fee?

Katz Web Services — Tue, 01 Dec 2009 02:56:44 +0000

The filing fee for a chapter 7 bankruptcy is $299 dollars. There is a $50 credit counseling fee for each individual filing bankruptcy and the cost of a lawyer to help in the filing of bankruptcy papers is not included in the above fees.

Is Immediate debt relief available?, Do I need to take any bankruptcy classes?, Do low cost bankruptcy packages cover a complete filing?

Who is eligible to file Chapter 7 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 02:56:14 +0000

All individuals and businesses who either reside in, do business in, or have property in the US and pass the means test are eligible to file for chapter 7 bankruptcy. Exceptions include individuals who have filed Chapter 7 bankruptcy within 8 years and individuals who have recently had another bankruptcy dismissed.

Who qualifies to file for Chapter 13 bankruptcy?, If I reside outside of the United States may I file bankruptcy within the US?, Who can file for bankruptcy?

What is a Chapter 7 discharge?

Katz Web Services — Tue, 01 Dec 2009 02:55:53 +0000

A Chapter 7 discharge releases a debtor from financial obligations to specified creditors and is a court order which prevents further actions by creditors to attempt to collect on debts. Not all types of debts are dischargeable, but once debts are discharged a debtor is absolved of all responsibility to repay the debt.

What is a Chapter 13 discharge?, Will I have my wages garnished following my Chapter 7 discharge?, In general, when should couples file jointly?

What is a Chapter 7 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 02:55:33 +0000

A Chapter 7 bankruptcy, also known as a liquidation, is when under bankruptcy proceedings an individual or business forfeits their property to repay creditors. Chapter 7’s require surrounding property to be sold and the proceeds of sales are used to repay debts. Following the sale of property and the allocation of funds, all dischargeable debts are discharged and creditors can make no further actions to recoup discharged debts.

What is a Chapter 7 discharge?, Will I have my wages garnished following my Chapter 7 discharge?, Chapter 7 Bankruptcy Lawyer Denver Colorado

Do all debts need to be paid in full in order to be discharged?

Katz Web Services — Tue, 01 Dec 2009 02:55:09 +0000

No. In general, creditors will receive a fraction of what they are owed through the payment plan. The payment plan does require that an individual uses all of their disposable income to repay debts over a three to five year period, but once all plan payments are made, debts are discharged regardless of whether or not each debt is paid in full.

What is a Chapter 13 repayment plan?, What types of debts cannot be discharged through a Chapter 13 bankruptcy?, If I have past due payments on my mortgage or other long term loans are they still considered non-dischargeable?

What does the term trustee mean in a Chapter 13 proceeding?

Katz Web Services — Tue, 01 Dec 2009 02:54:51 +0000

A trustee is a court appointed individuals who oversees Chapter 13 payment plan payments and the dispersal of funds to creditors following recieving bankruptcy plan payments.

What is a Chapter 13 repayment plan?, What is a Chapter 13?, Bankruptcy Process

What is a Chapter 13 repayment plan?

Katz Web Services — Tue, 01 Dec 2009 02:54:29 +0000

A Chapter 13 repayment plan is a court approved plan which is created by the individual filing for bankruptcy that outlines income, debts, and a plan to repay debts over a three to five year period. The payment plan is administered by the Chapter 13 trustee and is designed to allow the debtor to keep enough of their income to cover necessary living expenses and distribute all disposable income amongst creditors.

If I increase my living expenses is it allowable for me to make more money during my repayment plan?, What happens if my income changes during my 3 to 5 year repayment plan in my Chapter 13 bankruptcy?, Is it possible to keep all of my salary increase in a Chapter 13 bankruptcy?

What is a Chapter 13 discharge?

Katz Web Services — Tue, 01 Dec 2009 02:54:13 +0000

A Chapter 13 discharge is a court order which absolves a debtor of all repayment obligations on dischargeable debts following fulfillment of a Chapter 13 repayment plan.

What is a Chapter 7 discharge?, What is a Chapter 13?, What is a Chapter 13 repayment plan?

Who qualifies to file for Chapter 13 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 02:53:47 +0000

Any person who has a significant income, meets the means test, and either resides in, owes property in, or does business in the United States is eligible to file a Chapter 13 bankruptcy.

Who is eligible to file Chapter 7 bankruptcy?, Who can file for bankruptcy?, If I reside outside of the United States may I file bankruptcy within the US?

Do those who file Chapter 13 bankruptcies lose their property?

Katz Web Services — Tue, 01 Dec 2009 02:53:22 +0000

Although Chapter 13’s cannot protect all of an individual’s property from collection, in general, individuals who file Chapter 13 bankruptcies are able to keep the majority if not all of their possessions.

Asset Protection, What type of bankruptcy protects my car from repossession?, In general, when should couples file jointly?

What is a Chapter 13?

Katz Web Services — Tue, 01 Dec 2009 02:53:05 +0000

A Chapter 13 is a debt repayment plan which is subject to bankruptcy court and discharges a debtor of all dischargeable debts following three to five years of payments through a payment plan.

What is a Chapter 13 repayment plan?, What is a Chapter 13 discharge?, Is my house safe from foreclosure if I file a Chapter 13 bankruptcy?

Are bankruptcy filers who do not use a bankruptcy lawyer more likely to have their bankruptcy dismissed?

Katz Web Services — Tue, 01 Dec 2009 02:52:41 +0000

Yes. In general, bankruptcies that are filed by individuals have a higher rate of dismissal than those filed with the help of an experienced bankruptcy attorney.

How long do I have to appeal a dismissal?, If I make an accidental error or omission on my filing forms will I be tried for bankruptcy crimes?, Do bankruptcy appeals really work?

What does it mean to file Pro Se?

Katz Web Services — Tue, 01 Dec 2009 02:52:05 +0000

A Pro Se filer is someone who files on their own and does not utilize legal counsel. Filing Pro Se often results in an individual not understanding all of their options and can lead to form errors and unreported property.

Bankruptcy Crimes, Are people available in the bankruptcy court’s clerk’s office available to help filers and answer legal questions during the filing process?, Do I need a bankruptcy attorney?

Can individuals other than attorneys give legal advice about bankruptcy filing?

Katz Web Services — Tue, 01 Dec 2009 02:50:55 +0000

No. Because bankruptcy is a legal process, it is illegal for any non-lawyer to receive payment for advice about a person’s legal options. Any advice a non-lawyer gives may not necessarily reflect the current state of law and following such advice may cost a filer in the long run.

Can a credit counselor advise me about my bankruptcy options?, Are people available in the bankruptcy court’s clerk’s office available to help filers and answer legal questions during the filing process?, What can a bankruptcy attorney offer?

If I file on my own can the bankruptcy court give me advise?

Katz Web Services — Tue, 01 Dec 2009 02:50:29 +0000

No. Bankruptcy courts are not able to help individuals file forms and are not available to give potential filers advise about their best options. Related Posts Can anyone other than a lawyer help me with my bankruptcy case?, Do I need a bankruptcy attorney?, Can a credit counselor advise me about my bankruptcy options?

Can anyone other than a lawyer help me with my bankruptcy case?, Do I need a bankruptcy attorney?, Can a credit counselor advise me about my bankruptcy options?

What can a bankruptcy attorney offer?

Katz Web Services — Tue, 01 Dec 2009 02:50:05 +0000

Only an attorney can offer legal advice pertaining to bankruptcy because all bankruptcies are considered legal proceedings. A bankruptcy attorney can also walk a filer through each step and attend court appearances. In the event that a bankruptcy proceeding is challenged, a bankruptcy attorney can help filers overcome objections and get plan or application confirmation.

Can individuals other than attorneys give legal advice about bankruptcy filing?, Can I hire someone to go to a meeting of creditors or bankruptcy court for me?, Can a credit counselor advise me about my bankruptcy options?

Do I need a bankruptcy attorney?

Katz Web Services — Tue, 01 Dec 2009 02:49:49 +0000

Individuals can file all bankruptcy forms on their own and are not required by bankruptcy court to consult a lawyer. In most cases however, consulting an experienced bankruptcy lawyer is an important part of understanding the bankruptcy process and completing all steps fully and correctly.

Is there any way to avoid case dismissal in the first place?, What should I look for in a bankruptcy lawyer?, Do I need a bankruptcy attorney?

I am unemployed, do I qualify for bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:44:43 +0000

Although some forms of bankruptcy, such as Chapter 13, require monthly payments, Chapter 7 bankruptcies are available to all individuals who have a significant amount of debt and no foreseeable way to pay off all debts in full. Being unemployed does not affect eligibility.

Do I qualify for bankruptcy?, I have significant retirement savings and investments, can I still file bankruptcy?, Do I need to be late on payments to qualify for bankruptcy?

I have significant retirement savings and investments, can I still file bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:43:47 +0000

Investments and retirement accounts are generally protected in the bankruptcy proceedings and individuals cannot be forced to draw on 401ks or IRAs to make payments in a bankruptcy case. A person’s total property and retirement investment do not affect eligibility.

I am unemployed, do I qualify for bankruptcy?, Asset Protection, Bankruptcy Myths

What is the income guidelines for filing bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:41:58 +0000

There are no income guidelines when it comes to bankruptcy. Each bankruptcy case is different, but in general, bankruptcies follow a series of financial difficulties which gradually make monthly debt repayment unmanageable. Anyone can fall on hard times, even those in the middle and upper class.

If I increase my living expenses is it allowable for me to make more money during my repayment plan?, What happens if my income changes during my 3 to 5 year repayment plan in my Chapter 13 bankruptcy?, Can my bankruptcy be dismissed because of a drastic increase in income?

Do I need to be late on payments to qualify for bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:40:28 +0000

No. By the time most individuals think of bankruptcy they are already in significant financial trouble, but in some cases, individuals have a significant amount of debt, have a change in either payments or income and see no possible way to make full repayment of loan. Many of these individuals qualify for bankruptcy even before having a single late payment.

If I have past due payments on my mortgage or other long term loans are they still considered non-dischargeable?, Do I qualify for bankruptcy?, I am unemployed, do I qualify for bankruptcy?

If I reside outside of the United States may I file bankruptcy within the US?

Katz Web Services — Tue, 01 Dec 2009 01:39:38 +0000

All individuals who own property within the US or do business in the US may file for bankruptcy regardless of residency or citizenship. Foreign debts are often not eligible for discharge, but US debts can be discharged through bankruptcy for foreign citizens and individuals who reside outside of the US assuming they own property or conduct business within the US.

Who is eligible to file Chapter 7 bankruptcy?, Bankruptcy Myths, Are there any situations where student loans can be resolved through bankruptcy?

I have filed for bankruptcy in the past, can I do so again?

Katz Web Services — Tue, 01 Dec 2009 01:38:58 +0000

Yes. The amount of time one must wait between discharges to file again is specific to which type of discharge an individual received and what type of bankruptcy they plan to file.

What type of punishments exist for bankruptcy crimes?, What is a Chapter 13?, My house was foreclosed and sold at auction. Can bankruptcy help me get my house back?

If I am self employed or run a business, do I need to worry about investors, clients, and customers finding out about my bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:25:52 +0000

Creditors and those who plan to extend you credit will most likely check your credit report prior to offering your business any some of money or credit and they will be able to see your bankruptcy until it drops off the report 7 to 10 years after discharge. Customers and clients can run a background check or check public records to find past bankruptcy filings, but are unlikely to do so.

Will my bankruptcy affect my search for a new job?, Can others find out I filed for bankruptcy?, Can my friends, family, and neighbors find out I filed for bankruptcy?

Will my bankruptcy affect my search for a new job?

Katz Web Services — Tue, 01 Dec 2009 08:25:24 +0000

As part of the hiring practices of many employers, a background check is conducted. During this background check bankruptcies will be revealed as well as all other legal filings. How a job candidate is treated in regards to bankruptcy filing is under legal review but currently employers can deny prospective employees employment because of employment, this is especially common when a job requires an employ to be bonded or carry other insurance.

Can my employer find out I filed for bankruptcy?, What are the drawbacks of filing for bankruptcy?, Can I prevent my employer from finding out I filed for bankruptcy?

What will happen if my employer finds out I filed for bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:24:46 +0000

In most cases, nothing. As part of the Bankruptcy Code, firing an employee for filing bankruptcy is an illegal form of discrimination. You will not be fired for filing bankruptcy and employers are usually more understanding about bankruptcies than people expect them to be.

Can others find out I filed for bankruptcy?, Can my employer find out I filed for bankruptcy?, Can I prevent my employer from finding out I filed for bankruptcy?

Can I prevent my employer from finding out I filed for bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:24:28 +0000

There is no way to prevent your boss from finding out that you have filed for bankruptcy. Just like anyone else, employers have the right to review items that concern their employees that are public record. Unfortunately, bankruptcy is always public record.

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Can my employer find out I filed for bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:22:48 +0000

Yes. Like any other individual, employers can search public records to find out if their employees have filed bankruptcy. However, your employer will not be notified during the process unless they are a creditor or need to remove garnishments from your paycheck. It is seldom that employers ever find out that their employees have filed bankruptcy unless they are told by the employees themselves.

Can others find out I filed for bankruptcy?, Can I prevent my employer from finding out I filed for bankruptcy?, Can my friends, family, and neighbors find out I filed for bankruptcy?

What can I do to remove a bankruptcy from my credit report?

Katz Web Services — Tue, 01 Dec 2009 01:22:21 +0000

Nothing. Bankruptcies are available mainly to help debtors but under law it is a creditors right to know whether or not a potential borrower has filed bankruptcy.

How long will my bankruptcy appear on my credit report?, Can I remove a bankruptcy from my credit report after all of my debts are discharged?, How do I rebuild credit after a bankruptcy?

Will future creditors know I have filed for a bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:20:50 +0000

Bankruptcies appear on credit reports for between 7 and 10 years and creditors specifically check credit reports for bankruptcies during loan approval determination. Bankruptcies found on credit reports will not prevent all loans from being accepted, but in general it takes years to build up enough credit after a bankruptcy for creditors to start disregarding the bankruptcy appearing on a credit report.

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Will my creditors find out I filed bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:20:33 +0000

Yes. A major part of filing bankruptcy is declaring all debts and having those debts verified and creditors contacted. Creditors have the right to attend a meeting of creditors to discuss repayment and debts in some forms of bankruptcy.

Can I hire someone to go to a meeting of creditors or bankruptcy court for me?, Bankruptcy Process, Do I need to appear in bankruptcy court?

Will my bankruptcy be published in the newspaper?

Katz Web Services — Tue, 01 Dec 2009 01:20:15 +0000

In general, newspapers are not interested in the bankruptcy filings of individuals and it is very uncommon that a bankruptcy filing will ever be reported in a newspaper. Some newspapers have published bankruptcy filings in the legal notices section of the paper in cases where unidentified creditors may exist but this practice is rare.

Can others find out I filed for bankruptcy?, Can my friends, family, and neighbors find out I filed for bankruptcy?, Will others find out I filed a Chapter 7?

Can my friends, family, and neighbors find out I filed for bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 01:19:54 +0000

Bankruptcies are a matter of public record, as they are legal proceedings, and if individuals look for your bankruptcy in the bankruptcy clerk’s office, they will find it. In general, most people do not search through public records to find out whether or not anyone they know has filed bankruptcy and it is rare that the general public finds out about the bankruptcy filings of individuals.

Will others find out I filed a Chapter 7?, Can others find out I filed for bankruptcy?, Can I prevent my employer from finding out I filed for bankruptcy?

If my bankruptcy filing is challenged is there help available?

Katz Web Services — Tue, 01 Dec 2009 01:18:53 +0000

A qualified bankruptcy attorney will be able to help you overcome challenged to your filing and can help make sure the filing process goes smoothly.

What can a bankruptcy attorney offer?, Bankruptcy Process, Asset Protection

Do all bankruptcy lawyers offer the same services?

Katz Web Services — Tue, 01 Dec 2009 01:18:36 +0000

No. Many lawyers just offer their clients the chance to get their questions answered and help filing forms. A full service legal package will offer the bankruptcy filer help filing, help getting questions answered, and representation in bankruptcy court. It is important to review the services of each bankruptcy attorney prior to hiring any lawyer for help with your bankruptcy case.

Do low cost bankruptcy packages cover a complete filing?, Do all Wheatridge bankruptcy attorneys offer the same services?, What can a bankruptcy attorney offer?

Can I hire someone to go to a meeting of creditors or bankruptcy court for me?

Katz Web Services — Tue, 01 Dec 2009 01:18:21 +0000

Although filers can have legal representation, they must appear at the meeting of creditors in person and must attend any proceedings held in bankruptcy court. Individuals cannot send anyone in their place.

What can a bankruptcy attorney offer?, What can a bankruptcy attorney offer?, Will my creditors find out I filed bankruptcy?

What can a bankruptcy attorney offer?

Katz Web Services — Tue, 01 Dec 2009 01:17:57 +0000

Bankruptcy attorneys can help filers fill out forms, identify and value all property, answer legal questions, and even appear in court with filers to help them through the meeting of creditors.

Can I hire someone to go to a meeting of creditors or bankruptcy court for me?, Do all bankruptcy lawyers offer the same services?, What can a bankruptcy attorney offer?

Can anyone other than a lawyer help me with my bankruptcy case?

Katz Web Services — Tue, 01 Dec 2009 01:17:37 +0000

Although it is possible to get help in filing proper bankruptcy forms from a legal document service, no one can give legal bankruptcy advice other than a lawyer. A qualified lawyer not only helps filers determine their best legal options but can also make sure that all forms are complete and that the bankruptcy filing is correct and comprehensive.

Are people available in the bankruptcy court’s clerk’s office available to help filers and answer legal questions during the filing process?, Can a credit counselor advise me about my bankruptcy options?, Can couples file bankruptcy jointly?

Are people available in the bankruptcy court’s clerk’s office available to help filers and answer legal questions during the filing process?

Katz Web Services — Tue, 01 Dec 2009 01:17:18 +0000

No. Bankruptcy is a legal process and the Clerk’s Office staff is not is not allowed to give legal advice about filing or a person’s bankruptcy options. The bankruptcy court’s Clerk’s Office can be a great resource to help an individual locate the proper forms and bankruptcy files but it cannot offer individuals legal advice.

Can anyone other than a lawyer help me with my bankruptcy case?, Can individuals other than attorneys give legal advice about bankruptcy filing?, Can a credit counselor advise me about my bankruptcy options?

Is there any way to avoid case dismissal in the first place?

Katz Web Services — Tue, 01 Dec 2009 01:14:02 +0000

Cases are rarely dismissed unless a rather significant error is made. To avoid dismissal a filer must simply fill out all forms correctly, comply fully with the cases trustee, attend all required meetings and provide all requested documents. Related Posts Do I need a bankruptcy attorney?, How do I make sure that I avoid bankruptcy [...]

Do I need a bankruptcy attorney?, How do I make sure that I avoid bankruptcy charges?, Can my bankruptcy be dismissed because of a drastic increase in income?

Can I appeal the bankruptcy court’s decision on my own?

Katz Web Services — Tue, 01 Dec 2009 01:13:41 +0000

It is quite common for the issue that leads to case dismissal to be a simple one to avoid. The filer often gets confused by the steps they are encountering for the first time and either misses one or does not complete them all fully. Individuals can file appeals on their own but without the support of a lawyer a filer may make further mistakes and have their case again dismissed and then closed.

Is there any way to avoid case dismissal in the first place?, Can the decision of the bankruptcy court be appealed?, How do I make sure that I avoid bankruptcy charges?

Do bankruptcy appeals really work?

Katz Web Services — Tue, 01 Dec 2009 01:13:23 +0000

It is a common believe that appealing the decisions of a judge is futile, but in the case of bankruptcy court if an appeal is filed and the filer corrects the issue that led to the original dismissal, the case will usually be reconsidered.

How long do I have to appeal a dismissal?, Can I appeal the bankruptcy court’s decision on my own?, Can the decision of the bankruptcy court be appealed?

How long do I have to appeal a dismissal?

Katz Web Services — Tue, 01 Dec 2009 01:13:05 +0000

Individuals must appeal or ask for reconsideration of a dismissal within 10 days in most cases. If the case is reconsidered, forms must be double checked and an honest attempt must be made by the filer to correct all issues that resulted in the initial dismissal. Related Posts Do bankruptcy appeals really work?, Can I [...]

Do bankruptcy appeals really work?, Can I appeal the bankruptcy court’s decision on my own?, Can the decision of the bankruptcy court be appealed?

What are the most common reasons bankruptcy cases are dismissed?

Katz Web Services — Tue, 01 Dec 2009 01:12:48 +0000

Missing steps such as a creditor’s meeting or credit counseling accounts for many bankruptcy case dismissals. Other cases are dismissed following discovery of undeclared property, allegations of wrongdoing on the debtor’s behalf, and incomplete forms.

Can my bankruptcy be dismissed because of a drastic increase in income?, Can I appeal the bankruptcy court’s decision on my own?, If I make an accidental error or omission on my filing forms will I be tried for bankruptcy crimes?

Can the decision of the bankruptcy court be appealed?

Katz Web Services — Tue, 01 Dec 2009 01:11:34 +0000

Yes. It is rare for a bankruptcy filing to be denied, but when a bankruptcy case is dismissed the decision can be appealed and often overturned. If an appeal is attempted, the facts of the bankruptcy application need to be reexamined and in most cases an appeal is made successful by through the help of an experience bankruptcy attorney.

If I make an accidental error or omission on my filing forms will I be tried for bankruptcy crimes?, How long do I have to appeal a dismissal?, Do bankruptcy appeals really work?

Can I get help repairing my credit?

Katz Web Services — Tue, 01 Dec 2009 01:10:28 +0000

A credit counselor or qualified attorney can help individuals repair credit and explore all of the repair options available. Credit repair can save individuals significant amounts of interest payments as well as open up new borrowing possibilities. Related Posts I am about to lose my home but have a negative equity in it, should I [...]

I am about to lose my home but have a negative equity in it, should I just let it be foreclosed?, How do I get credit if I have a poor credit score and negative items on my credit report?, How do I rebuild credit after a bankruptcy?

How do I get credit if I have a poor credit score and negative items on my credit report?

Katz Web Services — Tue, 01 Dec 2009 01:09:29 +0000

Almost everyone can apply for and receive secured credit cards with low limits. These cards require an individual to pay the cards limit upfront to be held by the credit card as collateral in the event that the cardholder is unable to make payments. Over time secured credits can have their limits increased and can turn into unsecured credit, and most importantly, report to the credit reporting agencies and help improve credit scores.

How can I erase negative items on my credit report?, Can a secured credit card lead to credit cards with low rates and high spending limits like the ones I had prior to bankruptcy?, How do I rebuild credit after a bankruptcy?

Is there a way to improve credit scores without removing items?

Katz Web Services — Tue, 01 Dec 2009 01:08:54 +0000

Establishing and paying new lines of credit in full and on time each month will help to improve a person's credit. It can take months or even years to improve a person's credit significantly but every on time payment helps. Related Posts How do I start rebuilding credit after filing bankruptcy?, If I increase my [...]

How do I start rebuilding credit after filing bankruptcy?, If I increase my living expenses is it allowable for me to make more money during my repayment plan?, How do I get credit if I have a poor credit score and negative items on my credit report?

Can I remove a bankruptcy from my credit report after all of my debts are discharged?

Katz Web Services — Tue, 01 Dec 2009 01:08:08 +0000

Bankruptcies are not removed from credit reports till between 7 and 10 years following the bankruptcy’s discharge. There is no way to remove a properly reported bankruptcy from a credit report before its reporting period expires.

How can I erase negative items on my credit report?, How do I get false items removed from my credit report?, How do I get credit if I have a poor credit score and negative items on my credit report?

Will removing false items significantly improve my credit score?

Katz Web Services — Tue, 01 Dec 2009 01:07:25 +0000

Different types of items can affect credit scores in different ways but some types of negative reports can drop a credit score by more than 100 points. In some cases, credit reports contain more than one error and removing them drastically improves a credit score, enough to go from bad credit to excellent in some rare cases.

How do I get false items removed from my credit report?, Will a bankruptcy appearing on my credit report have a significant effect on my credit score?, How can I erase negative items on my credit report?

How do I get false items removed from my credit report?

Katz Web Services — Tue, 01 Dec 2009 01:06:04 +0000

If you notice false statements on your credit report you can write each of the credit reporting agencies and request that the false items are removed. This process can take time and the agencies may request multiple steps and several pieces of evidence that prove a person’s claim. A lawyer can usually get false items removed from credit reports in a matter of months and can help arrange significant proof of all errors concisely and quickly making the process quicker and easier.

How can I erase negative items on my credit report?, Will removing false items significantly improve my credit score?, Can I remove a bankruptcy from my credit report after all of my debts are discharged?

How can I erase negative items on my credit report?

Katz Web Services — Tue, 01 Dec 2009 01:05:29 +0000

No items can be “erased” from a credit report before expiration unless they appear on a report in error. There is no way for an individual to erase anything on their credit report, if there are errors appearing on a person’s credit they can only be removed by the credit reporting agencies.

How do I get false items removed from my credit report?, How do I get credit if I have a poor credit score and negative items on my credit report?, Can I remove a bankruptcy from my credit report after all of my debts are discharged?

Can I sell my car during the process of bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:24:50 +0000

If you are filing a Chapter 7, you cannot sell any of your nonexempt processions. If you sell any exempt property, including a car, the trustee may order that the money made be used to repay creditors. In general, selling a car before a Chapter 7 bankruptcy is discharged is not advisable. In the case of a Chapter 13 filing, up to the entire amount of money made from the sale of the car may be required to be paid to creditors in some cases, in others the proceeds can be applied to the purchase of a new automobile if circumstances warrant the sell and purchase of automobiles.

How do I protect my car under a Chapter 7 bankruptcy?, Bankruptcy Process, Isn’t a secured credit line essentially the same as a debit card?

What happens to my car after bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:23:44 +0000

If all debts on the car are discharged during bankruptcy the car will become the sole property of the bankruptcy filer following discharge. If debts remain following bankruptcy, the debtor can keep the car following bankruptcy but will have to make full repayment of the car loan.

How do I rebuild credit after a bankruptcy?, Are there any situations where student loans can be resolved through bankruptcy?, Bankruptcy Myths

Can a bankruptcy stop a repossession of my car which is about to occur?

Katz Web Services — Tue, 01 Dec 2009 00:23:21 +0000

If a bankruptcy is filed there is an automatic halt placed on all collection efforts by creditors. A repossession can be prevented by the filing of a bankruptcy application.

Asset Protection, Does bankruptcy help stop wage garnishment?, How do I protect my home if I file a Chapter 7 bankruptcy?

How do I protect my car under a Chapter 7 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:23:01 +0000

In a Chapter 7 bankruptcy filed in Colorado, each individual is allowed to claim up to $5000 automobiles as exempt, if a couple files jointly, they have a $10,000 car exemption. This exemption takes into account the equity in the car, the difference between its value and the amount of debt still owed on the car and is not based on its original cost.

Are couples filing jointly allowed more exemptions than individual filers?, What happens if my income changes during my 3 to 5 year repayment plan in my Chapter 13 bankruptcy?, Bankruptcy Exemptions

What type of bankruptcy protects my car from repossession?

Katz Web Services — Tue, 01 Dec 2009 00:22:17 +0000

Although most types of bankruptcy allow an individual the chance to hold onto at least one car, Chapter 13 bankruptcies are most commonly thought of as the bankruptcy option best suited to protecting property. A Chapter 13 Bankruptcy is a credit payment plan and does not commonly involve the sale of possessions so Chapter 13 bankruptcies often offer individuals the best chance to hold on to their vehicles.

Chapter 13 Bankruptcy Attorney Denver Colorado, Bankruptcy Process, What is a Chapter 13 repayment plan?

If I am forced to file bankruptcy will I lose my second home?

Katz Web Services — Tue, 01 Dec 2009 00:21:35 +0000

If you wish to retain more than one home you must make sure you can reasonably pay the mortgages on all of the homes they own. In the case of multiple houses being keep the only option available to a debtor is usually a Chapter 13 bankruptcy.

How can I keep my house in a Chapter 7 bankruptcy if the equity of my home is above $60,000?, How do I save my home from foreclosure?, How do I protect my home if I file a Chapter 7 bankruptcy?

How can I keep my house in a Chapter 7 bankruptcy if the equity of my home is above $60,000?

Katz Web Services — Tue, 01 Dec 2009 00:20:55 +0000

The best way to protect your home if its equity is above $60,000 is to file a Chapter 13 bankruptcy. A Chapter 13 bankruptcy can stop pending foreclosures and allows a debtor to restructure their late fees and past due mortgage payments.

Is my house safe from foreclosure if I file a Chapter 13 bankruptcy?, Can refinancing stop a foreclosure?, Can bankruptcy help me prevent foreclosure and keep my house?

How do I protect my home if I file a Chapter 7 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:20:31 +0000

In the state of Colorado, a house with a net value of up to $60,000 can be made exempt from repossession and sale during a chapter 7 bankruptcy. The debt on the home will not be discharged and needs to be paid if an individual wants to prevent future foreclosure and repossession following discharge.

Is my house safe from foreclosure if I file a Chapter 13 bankruptcy?, Can refinancing stop a foreclosure?, Are there other types of credit or loans available to individuals following bankruptcy?

Can I get rid of my mortgage through a bankruptcy and still keep my house?

Katz Web Services — Tue, 01 Dec 2009 00:20:08 +0000

Mortgages cannot be fully discharge through any form of bankruptcy. If a filer keeps their home they will be responsible for all remaining payments. A bankruptcy may however allow a filer to build significant equity in there house through the resolution of back payments.

How can I keep my house in a Chapter 7 bankruptcy if the equity of my home is above $60,000?, If I have past due payments on my mortgage or other long term loans are they still considered non-dischargeable?, Is Immediate debt relief available?

Is my house safe from foreclosure if I file a Chapter 13 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:19:50 +0000

Filing a Chapter 13 bankruptcy will stop the foreclosure process and delinquent and back mortgage payments can be paid within a chapter 13 repayment plan, allowing the debtor to prevent foreclosure from looming following the discharge of all dischargeable debts.

Can refinancing stop a foreclosure?

Katz Web Services — Tue, 01 Dec 2009 00:17:25 +0000

Once a foreclosure is in process it is unlikely that a refinance loan will be approved by any bank. Foreclosures show up on credit reports soon after they are first initiated and most banks will not lend to someone who has recently had a home foreclosed. If a refinance is attempted as soon as financial difficulties are perceived and before mortgage payments are missed, it is much more likely to go through and can help prevent late payments and foreclosure by lowering future monthly payments.

How do I save my home from foreclosure?, If I have past due payments on my mortgage or other long term loans are they still considered non-dischargeable?, Can bankruptcy help me prevent foreclosure and keep my house?

Can a credit counselor advise me about my bankruptcy options?

Katz Web Services — Tue, 01 Dec 2009 00:17:07 +0000

No. Although credit counselors can help an individual understand their financial options, it is illegal for them to give legal advice, including advice that pertains to filing bankruptcy. A lawyer can act as a credit councilor, but a non-lawyer credit councilor cannot make legal suggestions or represent any individual in a court proceeding.

Can individuals other than attorneys give legal advice about bankruptcy filing?, What can a bankruptcy attorney offer?, Are people available in the bankruptcy court’s clerk’s office available to help filers and answer legal questions during the filing process?

If I use a bankruptcy alternative to pay off a portion of my debt can I still follow bankruptcy.

Katz Web Services — Tue, 01 Dec 2009 00:16:49 +0000

Using any or all of the debt management strategies listed above will not make an individual ineligible to file bankruptcy if an individual or couple is otherwise qualified to file. Even when debt management strategies cannot prevent a bankruptcy, they may be able to lighten the impact of a bankruptcy filing by reducing debt or resolving non–dischargeable debts.

Can I bring unmanageable debt under control on my own?, Can unmanageable debt really be repaid without filing bankruptcy?, How do I protect my car under a Chapter 7 bankruptcy?

Can I bring unmanageable debt under control on my own?

Katz Web Services — Tue, 01 Dec 2009 00:16:25 +0000

Some people have luck reducing their debts and making their monthly payments more manageable on their own. However, most forms of extreme debt management can be made easier with the help of a professional. Although there are specially trained individuals that can help with different types of debt management options, only a lawyer can truly give legal advice. Since the resolution of extreme amounts of debts can easily become a legal matter, it is often a good idea to begin the process of resolving significant debt by consulting a lawyer to explore your best options.

If I use a bankruptcy alternative to pay off a portion of my debt can I still follow bankruptcy., Can individuals other than attorneys give legal advice about bankruptcy filing?, Can a credit counselor advise me about my bankruptcy options?

Can unmanageable debt really be repaid without filing bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:16:05 +0000

Yes. Many options exist to decrease or eliminate debt over time if a bankruptcy will not work for an individual or couple. Common means include, building a budget and managing expenditures, receiving credit counseling and exploring repayment options, negotiating debts to lower monthly payments, and consolidating debts into one monthly payment with a low interest rate.

Is Immediate debt relief available?, Can I bring unmanageable debt under control on my own?, How do I save my home from foreclosure?

Can anyone help me manage my non-dischargeable debts?

Katz Web Services — Tue, 01 Dec 2009 00:14:46 +0000

Yes. Many of the options mentioned as bankruptcy alternatives, such as credit counseling, loan negotiation, refinancing, and debt consolidation, are all options to repay debts that can’t be discharged through a bankruptcy.

Is Immediate debt relief available?, Do I need to take any bankruptcy classes?, How do I save my home from foreclosure?

If I have past due payments on my mortgage or other long term loans are they still considered non-dischargeable?

Katz Web Services — Tue, 01 Dec 2009 00:14:28 +0000

Mortgages cannot be discharged during bankruptcy, even when mortgage payments are late and foreclosure seems imminent. However, during a chapter 13 repayment plan, past due and delinquent mortgage and long term loan payments can be made as part of a debtor’s monthly plan repayments.

Is my house safe from foreclosure if I file a Chapter 13 bankruptcy?, How do I save my home from foreclosure?, Can refinancing stop a foreclosure?

Are there any situations where student loans can be resolved through bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:13:57 +0000

In some cases where the repayment of student loans in full is seen as inconceivable assuming current income levels, it is possible to discharge some student loan debt. The exception that allows student loans to be discharged is handed on a case to case basis.

Are there other types of credit or loans available to individuals following bankruptcy?, How do I rebuild credit after a bankruptcy?, What types of debts cannot be discharged through a Chapter 13 bankruptcy?

What types of debts cannot be discharged through a Chapter 13 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 00:12:50 +0000

The following debts cannot be discharged through a Chapter 13 bankruptcy:

Loans that have a final payment after the repayment period of a chapter 13 filing ends
Certain taxes
Debts relating to fraud or false representation
Student loans
Domestic support
Criminal fines
Civil court judgments relating to injury caused while the individual was intoxicated

Bankruptcy Myths, Are there any situations where student loans can be resolved through bankruptcy?, Do all debts need to be paid in full in order to be discharged?

Are all types of loans dischargeable through a Chapter 13 bankruptcy?

Katz Web Services — Tue, 01 Dec 2009 07:12:30 +0000

No. There are some types of debts, known as non–dischargeable debts, that cannot be resolved through bankruptcy and need to be paid following discharge.

What is a Chapter 7 discharge?, Is my house safe from foreclosure if I file a Chapter 13 bankruptcy?, Are there other types of credit or loans available to individuals following bankruptcy?

Are there other types of credit or loans available to individuals following bankruptcy?

Katz Web Services — Mon, 30 Nov 2009 23:55:10 +0000

Yes. There are a variety of credit rebuilding auto loans available, many of these loan types approve individuals soon after being discharged from bankruptcy. It is common for credit rebuilding loans to have high rates, are usually only available on certain vehicles and have very clear and strict repossession policies. If this type of loan is paid on time each month, the debtors credit score will increase and they will have more conventional loan options available to them in the future.

How do I rebuild credit after a bankruptcy?, How do I start rebuilding credit after filing bankruptcy?, Will removing false items significantly improve my credit score?

Can a secured credit card lead to credit cards with low rates and high spending limits like the ones I had prior to bankruptcy?

Katz Web Services — Mon, 30 Nov 2009 23:54:46 +0000

Yes, a secured credit card can allow individuals to get higher limits and lower rates in two ways. First of all, a secured credit card can have its credit limit increased and over time can have the requirement of the security deposit removed, making it an unsecured credit line. Secondly, a secured credit card will report to the credit bureaus and as an individual’s credit score increases they will be eligible for better credit card offers.

Isn’t a secured credit line essentially the same as a debit card?, How do I get credit if I have a poor credit score and negative items on my credit report?, Who will give me credit if I have a bankruptcy on my credit report?

Isn’t a secured credit line essentially the same as a debit card?

Katz Web Services — Mon, 30 Nov 2009 23:54:14 +0000

No. Debit cards deduct from the balance each time the card is used. When the amount of money deposited in the card is gone the card cannot be used to make payments. A secured credit card does not actually use the money that was paid up front. That money is used to secure the credit but will not be used unless the debtor is unable to make their monthly payments. The most important difference is that the secured credit card will report to the credit bureaus and a debit card will not.

Can a secured credit card lead to credit cards with low rates and high spending limits like the ones I had prior to bankruptcy?, Who will give me credit if I have a bankruptcy on my credit report?, How do I get credit if I have a poor credit score and negative items on my credit report?

Who will give me credit if I have a bankruptcy on my credit report?

Katz Web Services — Mon, 30 Nov 2009 23:53:32 +0000

Although most credit card companies, banks, and major lenders will not offer credit to someone who has been recently discharged from bankruptcy, secured credit cards allow almost anyone to have a credit card. A secured credit card requires putting a deposit down, usually $500 to start, and the available credit will match that deposit. In the event that the debtor is unable to pay their monthly payment, the money that was put down when they applied for the credit will be used to make the payment.

Isn’t a secured credit line essentially the same as a debit card?, Can a secured credit card lead to credit cards with low rates and high spending limits like the ones I had prior to bankruptcy?, How do I get credit if I have a poor credit score and negative items on my credit report?

How do I start rebuilding credit after filing bankruptcy?

Katz Web Services — Mon, 30 Nov 2009 23:53:08 +0000

Once discharged you can begin taking out new lines of credit. Paying bills on time every month will create a positive credit item on your credit report. If you pay all debts on time each month for a period of at least a year, you credit score will begin to improve and you may begin to qualify for larger loans and increased credit lines.

Is there a way to improve credit scores without removing items?, How do I rebuild credit after a bankruptcy?, Are there other types of credit or loans available to individuals following bankruptcy?

Will a bankruptcy appearing on my credit report have a significant effect on my credit score?

Katz Web Services — Mon, 30 Nov 2009 23:52:47 +0000

Yes. Bankruptcies not only decrease credit scores, but they can also make lenders hesitant to lend even after a person’s credit score begins to improve. However, a person’s good credit can be rebuilt following a bankruptcy.

Will removing false items significantly improve my credit score?, How do I get credit if I have a poor credit score and negative items on my credit report?, How do I start rebuilding credit after filing bankruptcy?

If I increase my living expenses is it allowable for me to make more money during my repayment plan?

Katz Web Services — Mon, 30 Nov 2009 23:44:04 +0000

Cost of living increases will be monitored by the trustee. If income increases significantly and the filer’s spending increases significantly also , the trustee may look at a filers expenses to see if they fall within normal basic expenses. In general, if you begin making more money while paying on a payment plan, it is not acceptable to use this increased income to try to improve your quality of life or lifestyle.

Can my bankruptcy be dismissed because of a drastic increase in income?, Is it possible to keep all of my salary increase in a Chapter 13 bankruptcy?, What is a Chapter 13 repayment plan?

Can my bankruptcy be dismissed because of a drastic increase in income?

Katz Web Services — Mon, 30 Nov 2009 23:43:44 +0000

In cases where income drastically changes after a bankruptcy payment plan has been confirmed, the trustee will evaluate the increase of income and an individual’s disposable income. A change in payment can be required but unless there are suspicions of wrongdoing the bankruptcy case will not be dismissed. If income changes prior to the confirmation of a payment plan, the increased salary can cause the case to be reevaluated to make sure the filer still qualifies for bankruptcy, but bankruptcy cases are not thrown out just because an individual’s salary increases.

Is it possible to keep all of my salary increase in a Chapter 13 bankruptcy?, If I increase my living expenses is it allowable for me to make more money during my repayment plan?, What happens if my income changes during my 3 to 5 year repayment plan in my Chapter 13 bankruptcy?

Will I have my wages garnished following my Chapter 7 discharge?

Katz Web Services — Mon, 30 Nov 2009 23:43:07 +0000

Once debts are discharged through a bankruptcy the discharged debts no longer exist. Creditors can’t take steps or make efforts to collect on any debt that was discharged through bankruptcy. After full Chapter 7 discharge, a person’s income is all their own. They will have to continue paying all debts that weren’t discharged by bankruptcy but the bankruptcy court will impose no rules to prevent spending and will take no action to further recoup funds.

What is a Chapter 7 bankruptcy?, If I increase my living expenses is it allowable for me to make more money during my repayment plan?, Does bankruptcy help stop wage garnishment?

Is it possible to keep all of my salary increase in a Chapter 13 bankruptcy?

Katz Web Services — Mon, 30 Nov 2009 23:41:12 +0000

Even though a Chapter 13 payment plan usually calls for a debtor to pay all disposable income to creditors during the bankruptcy payment plan, increased salary often only covers an increase in the cost of living. Individuals are usually able to have salary increases which are modeled after the cost of living without having their monthly payments reevaluated. Even when income increases drastically, a portion of the increase can usually be kept by the bankruptcy filer.

Can my bankruptcy be dismissed because of a drastic increase in income?, What happens if my income changes during my 3 to 5 year repayment plan in my Chapter 13 bankruptcy?, If I increase my living expenses is it allowable for me to make more money during my repayment plan?

What happens if my income changes during my 3 to 5 year repayment plan in my Chapter 13 bankruptcy?

Katz Web Services — Mon, 30 Nov 2009 23:40:48 +0000

If wage increase does not exceed commonly accepted cost of living increases, nothing will happen, the filer just keeps paying his or her monthly payments and keeps the increase to cover the increased cost of living. If pay raises exceed accepted cost of living figures, the case will be handled on a case by case basis and the debtor may be required to pay the amount of the monthly wage increase as part of their monthly bankruptcy plan payment.

Is it possible to keep all of my salary increase in a Chapter 13 bankruptcy?, Can my bankruptcy be dismissed because of a drastic increase in income?, What is a Chapter 13 repayment plan?

If my income changes significantly during the execution of my Chapter 7 bankruptcy will there be any changes in my bankruptcy?

Katz Web Services — Mon, 30 Nov 2009 23:40:17 +0000

If income changes significantly before discharge of an active bankruptcy it could lead to the trustee calling for a reevaluation of repayment and a percentage of the increase in income might need to be turned over to the trustee until discharge.

If I increase my living expenses is it allowable for me to make more money during my repayment plan?, Can my bankruptcy be dismissed because of a drastic increase in income?, Is it possible to keep all of my salary increase in a Chapter 13 bankruptcy?

What is bankruptcy?

Katz Web Services — Thu, 19 Nov 2009 19:05:02 +0000

Bankruptcy is a process which was created by and is governed by federal law. Although some details vary by state, bankruptcy is an option in all 50 states and is a means for debtors, who have no foreseeable possibility of fully repaying their debts, to resolve their debts with creditors either by restructured payments over 3 to 5 years or through discharge of debts following the sale and dispersal of proceeds of a debtors personal property.

Chapter 7 Bankruptcy Lawyer Denver Colorado, Chapter 13 Bankruptcy Attorney Denver Colorado, Bankruptcy Exemptions

Who can file for bankruptcy?

Katz Web Services — Thu, 19 Nov 2009 19:04:40 +0000

Although a few exceptions exist, bankruptcies are available as a means of resolving debts to all businesses and individuals in the United States. Related Posts Who qualifies to file for Chapter 13 bankruptcy?, Who is eligible to file Chapter 7 bankruptcy?, Denver Bankruptcy Attorney

Who qualifies to file for Chapter 13 bankruptcy?, Who is eligible to file Chapter 7 bankruptcy?, Denver Bankruptcy Attorney

How do I begin filing for bankruptcy?

Katz Web Services — Thu, 19 Nov 2009 19:04:20 +0000

To begin, your financial situation needs to be fully evaluated and the best bankruptcy type chosen. This process is usually aided by the use of a bankruptcy lawyer and the bankruptcy lawyer will continue to be helpful throughout the filing process. Next a list of all current debts and assets needs to be compiled to be presented to the court in addition to a “statement of financial affairs” which outlines current debts, income, and ability to repay debts. At the time of filing, the fees which correspond to your selected bankruptcy type will also be due.

Bankruptcy Process, Can individuals other than attorneys give legal advice about bankruptcy filing?, What information do I need to start my bankruptcy filing?

Do married couples need to file jointly?

Katz Web Services — Thu, 19 Nov 2009 19:03:52 +0000

Filing jointly for bankruptcy often carries unique benefits but in certain cases it may be in a couple’s best interest to file separately or for one spouse to file and the other to not do so. Spouses do not need to file jointly and a bankruptcy lawyer can help you decide whether married couples should file jointly or on their own.

In general, when should couples file jointly?, Can couples file bankruptcy jointly?, Are couples filing jointly allowed more exemptions than individual filers?

How long will my bankruptcy appear on my credit report?

Katz Web Services — Thu, 19 Nov 2009 19:03:26 +0000

Bankruptcy affects credit for 7–10 years

Bankruptcies will appear on credit reports from 7 to 10 years following discharge dependent on which type of bankruptcy is filed.

Can I remove a bankruptcy from my credit report after all of my debts are discharged?, Will future creditors know I have filed for a bankruptcy?, Will removing false items significantly improve my credit score?

How do I stop phone calls from collection agencies?

Katz Web Services — Thu, 19 Nov 2009 19:00:32 +0000

Significant events in an individual’s life such as the loss of a job, divorce, death of a loved one, severe illness, or significant property loss can make repaying creditors difficult for any individual. Often times, changing circumstances only exist for a short period of time but can lead to a growing backlog of bills and result in past due payments. Once debts are past due, creditors often will send reminders, interest and fee statements, and written warnings. If an unpaid balance remains they will often begin collection calls or turn over the account to a collection agency which will conduct the collection calls and attempt to collect on the past debts. These calls often begin to border on harassment quite quickly and can begin to take a toll on an individual in financial distress.

How to stop creditor phone calls

There are a number of ways to stop this harassment and get on track towards repaying debts in full. Consulting a credit counselor or lawyer can help end the harassing calls once and for all and the credit councilor or lawyer can also advise the individual about how to achieve full repayment, avoiding many unfair fees and continued harassment. A long term solution to getting the creditors to stop calling even if a debtor is unable to come up with the fund to make full repayment is to file for bankruptcy. Bankruptcy is however a serious financial decision and should not be entered into lightly, but can offer protection from creditor harassment as well as help getting the original debt discharged.

Through the process of bankruptcy all creditor harassment calls are stopped, debts are frozen , and repayments are either restructured or made through the sale of the debtor’s property. Creditor harassment is not only temporarily stopped on a few accounts but is also prevented since most debts will be discharged through bankruptcy. Although there are often other financial distresses that lead up to an individual’s decision to file bankruptcy, credit calls are often a large consideration. Getting the creditors to stop calling is a significant benefit of bankruptcy for most filers and can serve as a small step towards getting a person’s financial life back on track.

If you have been considering bankruptcy and have questions, we can help. We at the Norton Law Offices have years of experience in bankruptcy law and can help you file for bankruptcy and fully explore all of your options. Contact one of our attorneys today to learn more.

Does bankruptcy help stop wage garnishment?, Is Immediate debt relief available?, How do I start rebuilding credit after filing bankruptcy?

Does bankruptcy help stop wage garnishment?

Katz Web Services — Thu, 19 Nov 2009 19:00:04 +0000

When debts remain unpaid and a creditor continues to have difficulty collecting on debts they can often garnish a worker’s wages to collect on debts and recoup fines and fees. Wage garnishment can either be voluntary, allowing the debtor say over whether part of their paycheck goes directly to their creditor, or court order where a certain amount of each paycheck is required by a legal judgment to be paid directly to a creditor or other individual or business. Both forms of garnishment are designed to make sure that wage earners’ income is applied to debts each month instead on being spent on new expenses or being seen as disposable income. Wage garnishment is usually only applied to a person’s income after other forms of debt collection have failed, but wage garnishment can still create significant monthly financial deficits for debtors who can be left will only a portion of their total paycheck with which to pay all of their bills.

Bankruptcy offers wage garnishment relief

Within bankruptcy, there is immediate relief from wage garnishment for individuals who file. There is an automatic stay on all wage garnishments for individuals protected under bankruptcy filings and the debts which have resulted in wage garnishments are often also resolved during the bankruptcy process and further wage garnishments being placed on an individual’s income will be prevented. Wage garnishments usually do not occur in a vacuum and individuals who are experiencing wage garnishments are often dealing other financial difficulties, but the benefit of halted wage garnishments offered by bankruptcy is still a significant benefit of filing for bankruptcy.

Other options to stop garnishment

Even when an individual does not qualify for bankruptcy, there may be other options available to prevent unnecessary and costly wage garnishment. In most cases, wage garnishments which were not ordered by a court can quickly and easily be removed from monthly paychecks by consulting one’s own employer. A good idea when wage garnishments are taken out of a check and cause significant financial distress is for individuals to contact the creditor who has placed the garnishment on their check. Often, discussing alternative payment options and new payment plans will allow debtors and creditors to come to a compromise that will work for both parties. When this is not possible and the garnishments are putting significant stress on finances and creating increasing levels of debt, bankruptcy may become a person’s only option.

If you are considering bankruptcy but need more information, we at the Norton Law Offices can help. Contact one of our experience bankruptcy attorneys to learn more about bankruptcy and to explore your options.

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Should I file bankruptcy?

Katz Web Services — Thu, 19 Nov 2009 18:59:35 +0000

The question of whether or not to file a bankruptcy can be an emotional one which may prove to be one of the most difficult decisions in a person’s life. However, in many situations, when all the facts are evaluated it is usually very clear if a bankruptcy is appropriate for an individual’s situation. Understanding the initial intent of bankruptcies can help in making a clear decision about bankruptcy and may give individuals a new perspective about what bankruptcies are and what they offer. Bankruptcy is commonly described under law as a financial “fresh start”, meaning that the institution of bankruptcy is designed to create new opportunities to rebuild, create, and responsibly manage debt. By basic definition, bankruptcy was designed for individuals who have no conceivable chance to repay debts assuming there current income and taking into account their basic living expenses.

Most people who genuinely cannot reasonably be expected to repay their debts are already beginning to run out of options. Often, they are already receiving collection calls and have been unable to make monthly payments for an extended period of time. They are afraid that creditors will repossess their property and they know that without drastic intervention they will be left with nothing. In cases such as these it is hard not to file for bankruptcy. Bankruptcy is not an instant fix and can come with some disadvantages, but allows individuals to reclaim their finances over time and get back in control of their life.

The decision to file is extremely personal since in some cases there are other options to explore. Every financial situation is different and not every person who qualifies for bankruptcy protection should file. Understanding all the options and the specifics of an individual’s unique financial situation is the only way to make an informed decision about filing. Often, consulting with an experienced bankruptcy attorney seems to be the only way to make an informed decision. Bankruptcy attorneys have the experience to know and understand all possible options and can help individuals explore possibilities they may not even know exist.

We at the Norton Law Offices are qualified bankruptcy attorneys who each have years of bankruptcy experience. To learn more about your options and whether bankruptcy is the right option for you, contact one of our experienced attorneys today.

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Is Immediate debt relief available?

Katz Web Services — Thu, 19 Nov 2009 18:57:34 +0000

When faced with significant debt, looming foreclosure, and past due notices it can seem like solutions are few and far between. However, there are many options that exist to help individuals afford unmanageable debt and bring their debt burden under control. Each of these forms of debt relief has its own advantages and disadvantages, but most require some amount of time, usually at the very least a month of waiting for creditors to process a claim or restructure debts. Surprising to most individuals, is the fact that the most immediate form of relief from significant debt, above $10,000 dollars, is a chapter 7 bankruptcy.

Chapter 7 bankruptcy is the fastest form of bankruptcy available

Credit counseling and debt renegotiation and restructuring give individuals quick relief to a small degree, often lowering monthly payments by 20–30 percent but requiring individuals to continue paying on oppressive debts. A chapter 7 bankruptcy is often seen as the quickest option to resolve debt because it can be used to resolve over $20,000 of debt within four months. Chapter 7 bankruptcies have many significant drawbacks, but can get the creditors to stop calling within days of confirmation. Although most other forms of bankruptcy take longer to discharge debts, they all offer filers quick relief from the constant and painful calls from creditors and threats of liens.

Credit counseling helps debt become manageable

One form of immediate relief which has the least risk and disadvantages is credit counseling. Credit counseling can help individuals look at repaying debts differently from day one and often results in making monthly payments more manageable the very first month. In tandem with credit counseling, renegotiating the terms of loans and reviewing refinancing options can result in a significant decrease in monthly payments and often leads to decreased interest rates. Although credit counseling and renegotiating loans will not make loans “disappear”, they can make debt repayment more manageable and can contribute to long-term wealth accumulation.

We at the Norton Law Offices are experienced in bankruptcy law but are also able to help our clients review additional debt resolution options. If you are considering bankruptcy, or another form of debt resolution, consult one of our qualified attorneys today to learn more about your options.

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What are the drawbacks of filing for bankruptcy?

Katz Web Services — Thu, 19 Nov 2009 18:57:08 +0000

Bankruptcy is an extreme solution for extreme levels of unmanageable debt. As with any extreme solution, filing for bankruptcy can present many significant drawbacks and possible negative outcomes.

Bankruptcy affects credit scores for 7–10 years

Most commonly, credit scores damaged by a bankruptcy filing will prevent a filer from being offered credit for many years and the mark of bankruptcy on a credit report will not disappear for at least 7 years, 10 years in the case of chapter 7 filings. The significance of a bankruptcy on a credit report can be diminished over time by rebuilding credit but the mark it makes on a credit report cannot simply be erased. A damaged credit report means a bankruptcy filer will likely have trouble getting loans for several years following discharge and may have to pay high interest rates once they are offered credit.

Some employers require employees to have no bankruptcy history

Although most employers do not directly care about a person’s credit history, jobs that require their employees to be bonded may disallow applications for employment from individuals who have recently filed bankruptcy. Although it seems cruel, the practice relates to the process of bonding which will carry varying rates for an employer depending on risk factors an employee exhibits. Bankruptcy is a significant risk factor in the bonding rate determination process and often prevents employers from hiring individuals who have recently filed for bankruptcy.

Bankruptcy can take years to discharge

Although some forms of bankruptcy are quick, others, such as chapter 13 bankruptcies, take years. Up until a chapter 13 bankruptcy is discharged, filers often live a very lean life style. For between 3 and 5 years chapter 13 bankruptcy filers must commit ALL of their disposable income to the repayment of their dischargeable debts. This means that wage earners living under a chapter 13 only keep enough money to live off; enough for food, utilities, and housing, and give the rest to a trustee who distributes it among creditors.

Bankruptcy does not eliminate all debt

The other most common disadvantage of bankruptcies is that they do not discharge all debts and can often leave the most significant debts an individual faces active following discharge.

If you are considering bankruptcy and need to know more about what filing would mean, contact us at the Norton Law Firm. Speak with one of our attorneys today and learn more about your options and what bankruptcy will mean for you and your family.

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How do I save my home from foreclosure?

Katz Web Services — Thu, 19 Nov 2009 18:56:15 +0000

Bankruptcy does not affect mortgages

When faced with unmanageable mortgage payments and possible foreclosure, most individuals see bankruptcy as the only option. Bankruptcy may be the best option for many debtors in extreme financial duress, but bankruptcies were not designed to discharge mortgages and when foreclosure is the issue, bankruptcy is usually not a great option. There are however many programs and options available to individuals who find themselves in situations where they are unable to make mortgage payments over the long term.

Refinancing a mortgage is difficult after bankruptcy

One of the most common options people consider when they are no longer able to make mortgage payments is to consider refinancing their loan to lower monthly payments and attempt to get a lower rate. Unfortunately once a foreclosure is already in process, the possibility of being approved for a mortgage refinance loan is extremely low. The processing of a foreclosure will appear on an individual’s credit report and the pending foreclosure will make most lending institutions hesitant to extend credit.

Refinance before becoming late in payments

Consider refinancing their loans before payments become delinquent, usually at the first sign that long term ability to repay loans has been affected, such as after job loss, personal injury, or significant property loss.

Renegotiate a mortgage

Renegotiating the terms of a loan with the original lenderis an option for individuals who are in initial stages of financial distress and those facing foreclosure alike. Although this can be a daunting and challenging task, renegotiating terms of a loan to reflect new interest rates and restructuring the duration of a loan can save individuals hundreds of dollars of payment a month and fight off foreclosure. This option can require filing many, often times upwards of 30, pages of forms and applications but can offer significant debt relief without having a significant effect on credit scores and most importantly can allow people the chance to stay in their home even after that dream seems impossible. Depending on specific state laws and a person’s particular situation, options vary and consulting an attorney experienced in financial proceedings can help individuals make the best financial decision.

Whether you are considering bankruptcy or are looking to work with your lender to reduce monthly payments, we at the Norton Law Offices can help. Contact one of our attorneys today to take advantage of their years of experience resolving financial distress for our clients.

Can refinancing stop a foreclosure?, If I have past due payments on my mortgage or other long term loans are they still considered non-dischargeable?, If I do not qualify for bankruptcy are there any options available to save my home from foreclosure?

What should I look for in a bankruptcy lawyer?

Katz Web Services — Thu, 19 Nov 2009 00:17:33 +0000

Choosing an experienced bankruptcy lawyer is an important part of the bankruptcy process and can be the difference between a denied bankruptcy filing and a financial fresh start. The process of bankruptcy can be involved and often requires understanding a multitude of factors and related laws. Bankruptcies affect filer’s years after their debts are discharged and are serious financial decision which require clear attention to details and a full understanding of an individual’s financial situation.

Hire an experienced attorney.

The most important part of choosing the right one is to evaluate each lawyer’s experience. Lawyers with years of experience with bankruptcy laws understand the intricacies of filings and know how to make bankruptcies work in the best possible interest of their clients.

You must trust your bankruptcy lawyer.

Individuals need to work with bankruptcy lawyers that they trust and are willing to be completely honest with. Being honest and feeling comfortable talking to the lawyer who is representing your bankruptcy filing goes a long way towards ensuring that a bankruptcy filing is successful. The relationship a lawyer and their client has determines how well they work together and are able to communicate.

Since giving a lawyer all the information they need to successfully represent your filing is important to its success, feeling comfortable talking to your chosen attorney about any issues or problems is extremely important. During the interview process with an attorney, it is important to make sure you feel comfortable with the attorney and that you know that they will listen to you and work with you affectively.

Your attorney should be experienced in all types of bankruptcy.

Chapter 7, Chapter 11, and Chapter 13 bankruptcies require experience in different legal processes

Another important factor to keep in mind is that there are different types of bankruptcies and specific details that go along with each. Choosing an attorney with specific experience in the bankruptcy type you are considering filing is very important. A lawyer’s specific experience will mean that they will fully understand all the relevant laws and can put them to your best possible use. In the event of complications, having the right bankruptcy lawyer by your side will mean that all irregularities will be quickly resolved and you will not have to worry.

Looking for an experienced bankruptcy lawyer? Our attorneys here at the Norton Law Firm have years of bankruptcy experience and will talk to you about your specific financial needs.

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How do I rebuild credit after a bankruptcy?

Katz Web Services — Wed, 18 Nov 2009 22:46:20 +0000

Bankruptcies usually remain on a credit report for between 7 and 10 years after discharge, but it is possible to start rebuilding credit and achieve good credit scores while a bankruptcy still appears in an individual’s credit history. Discharged bankruptcies have been seen in the past as proof a potential borrow is unfit for any requested loan, that is no longer the case. Loan decisions are based upon a variety of factors and building credit after a bankruptcy can help to qualify individuals for most loan types, including new mortgages and refinanced existing mortgages. As with any loan, when a lender looks at a credit request from someone who has been discharged from a bankruptcy they are looking for significant proof that this individual has the means and ability to pay back loans overtime. In the case of individuals who have filed bankruptcies in the past, that means building new credit after discharge.

Once a bankruptcy is filed, all previous good credit is essentially made irrelevant. To achieve good credit it is important to build new lines of credit and establish positive credit references. The first step to rebuilding credit following a discharge, and usually the easiest, is to pay all utility and housing bills on time for a period of at least a year. Utilities can serve as credit references in the case of alternative credit and paying them on time can also help to build positive habits which can influence loan repayment in the future. While practicing making all payments on time, it is possible to start applying for and receiving secured loans as well as guaranteed acceptance credit rebuilding loan offers. Many credit card companies now offer secured credit card options which require a deposit of funds to be held to cover monthly charges. Over time these secured cards will offer increased credit limits and the option of changing the account to an unsecured credit which will erase the requirement of upfront cash.

The other commonly available loan structure that is available to most individuals even after a bankruptcy is used car credit rebuilding loans. The majority of these loans carry high interest rates and require significant down payment or collateral but allow individuals to rebuild their credit through timely payments and repayment in full. Often, following a credit rebuilding auto loan, individuals who have a bankruptcy on their credit report are able to apply for and receive more conventional loans with lower interest rates. Rebuilding credit usually takes years and will require multiple credit lines, not just one loan or one credit card, but can give individuals who have filed bankruptcy a new lease on life if they are able to make all monthly payments on time and in full.

If you are considering bankruptcy or need help with a bankruptcy filing you have already begun, we at the Norton Law Offices can help. Contact one of our attorneys to learn more about your options and to get on honest evaluation of your financial situation.

Can a secured credit card lead to credit cards with low rates and high spending limits like the ones I had prior to bankruptcy?, Isn’t a secured credit line essentially the same as a debit card?, Who will give me credit if I have a bankruptcy on my credit report?

Can others find out I filed for bankruptcy?

Katz Web Services — Sun, 15 Nov 2009 20:46:55 +0000

Bankruptcy is a matter of public record and it is possible for any bankruptcy which has been filed in the US to be viewed, however in most cases an individual’s friends, family, and co-workers would have no reason to want to find out and would most likely never know. If chapter 7 bankruptcy is declared there will often be calls for creditors to come forward in certain cases. However, the stigma that goes along with filing bankruptcy is starting to subside and people who file for bankruptcy are not seen the same way they were 30 years ago. Over one million Americans file for bankruptcy each year and most people have no reason to check through public records to look for specific names of bankruptcy filers and will never do so.

The biggest worry for most individual is whether or not their employer will know they filed for bankruptcy, in most cases the simple answer is no. Unless there is wage garnishment or the employer is a creditor of the debtor, individuals are not required to tell their employers they have filed bankruptcy. It is possible for employers to find out, but most never pull records on their current employees and will never know unless they look. On rare occasions bankruptcies are posted in newspapers to inform creditors and interested parties of a filing but this is almost always reserved only for businesses and is not something most individuals need to worry about.

Most people wonder if others can find out is they file for bankruptcy out of fear and shame; the truth is there is nothing to be ashamed of. In most cases, no one in a person’s town or work will ever find out they filed unless they tell them. Even if people find out about a filing, as long as bankruptcy forms are truthful and complete, there will be no one who will want to or be able to take action against a bankruptcy filer. Although some employers check credit histories during the hiring process, most people will not care to know or ever investigate except for future creditors.

If you are considering bankruptcy and would like to learn more please contact us at the Norton Law Offices to learn more about the options available to you.

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Do I qualify for bankruptcy?

Katz Web Services — Sun, 15 Nov 2009 20:32:38 +0000

Unforeseen circumstances such as job loss, divorce, disability, and natural disaster leave millions of individuals within the US unable to pay their debts. An inability to pay debts because of unforeseen and unpreventable circumstances is nothing to be ashamed of and help does exist. Bankruptcy is designed to help individuals in significant debt resolve their debts and settle with creditors. Many people finding themselves in significant debt often pose the question, “Do I qualify for bankruptcy?”. Each of the 6 types of bankruptcy have their own eligibility requirements but the general definition for eligibility is when debt payments and reasonable minimal living expenses surpass an individual’s income and make full debt repayment inconceivable. There are millions of Americans who technically quality for bankruptcy but other options are available to many of those individuals.

Qualifying for bankruptcy does not necessarily mean that filing is necessary or in an individual’s best interest. Learning about possible repayment options and assistance can help in the decision of whether or not to file for bankruptcy. Although many resources exist for individuals to learn more about their options, consulting an experienced bankruptcy attorney can be and often is the best way to determine if bankruptcy is a good option for an individual’s situation. Many options exist for debtors and choosing the right one will have significant effect on future finances and debt repayment.

Many individuals who qualify for bankruptcy actually qualify for more than one of the 6 types. Determining which type of bankruptcy will best satisfy that individuals specific needs is as important as the decision to file if not more so. For example, although chapter 13 filings can leave a bankruptcy filer retaining almost all their property, it can 3 to 5 years to be discharged from chapter 13 bankruptcy as opposed to as little as 60 to 90 days with chapter 7 filings. Because each situation and every individual is different, consulting an attorney is often necessary in making an informed and intelligent decision about filing bankruptcy.

If you live in the Colorado area, are considering bankruptcy, and would like to learn more about your options, speak with someone here that the Norton Law Offices to get the help and advice you need to make an informed filing decision.

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Do I need a bankruptcy attorney?

Katz Web Services — Fri, 13 Nov 2009 22:36:27 +0000

Bankruptcy is a process which is conducted under the supervision of a court and has a significant impact on an individual’s or business’s financial future. There are many specific laws that control the process of bankruptcies and how debtors can resolve their debts through bankruptcy. That said, there is no law requiring individuals wishing to file a bankruptcy to consult legal counsel prior to filing, however, all business and corporate filings must be done by an attorney. All of the changing laws and numerous options available to those in significant debt can make understanding bankruptcy and how best to proceed difficult for individuals. An attorney can be a big help in understanding the many laws that relate to bankruptcies as well as the other options that may exist.

Many potential bankruptcy filers ask, “Do I need an attorney?”, it is a valid question. Although bankruptcies can be filed without a lawyer, in many cases having an experienced attorney on your side can be extremely important when considering bankruptcy. Bankruptcy courts are designed to work in the favor of debtors but having legal representation is often the difference between getting an ok debt restructuring deal and a great one. An attorney experienced in bankruptcy law will know the answers to an individual’s questions as well as be able to push for a highly attainable plan. In occasions where there are other options available to a debtor, retaining the services of a bankruptcy lawyer can ensure that all options are evaluated and the best possible option is chosen.

According to the law, bankruptcy filers do not need an attorney, however having one can potentially save a bankruptcy filer thousands of dollars and pieces of property that might otherwise be forfeited or sold to repay creditors. In the event that creditors are not interested in dealing with a debtor or are unwilling to accept a fair payment restructuring, an experienced bankruptcy attorney can help create a compromise which will benefit the debtor and be acceptable to creditors. More than anything, having an attorney means that if there are additional options available, they will be known and understood.

If you are considering bankruptcy and would like to learn more about your options, contact the Norton Law Offices today; we can help you get a bankruptcy settlement which is designed to meet your needs, not your creditors’.

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