Why Do You Need Foreclosure And Bankruptcy Attorneys In San Diego? Are you the owner of a property in San Diego? Did you know that if you fail to make your mortgage payments on time, the bank can issue a foreclosure on your property? Those of you who are not familiar with the term, foreclosure means that the bank will acquire full control over your property.Most people don't buy properties with their own money. What they usually do is to...more
Looking For A Bankruptcy Attorney In Mission Valley? There has been an extraordinary rise in the number of borrowers who are pursuing a credit card debt consolidation program to get rid of their excessive credit card debts and trying to regain their economical stability. Living in Mission Valley is indeed a dream. Owning a beautiful house in this place with a small garden or lawn in front.......sounds great doesn't it? Your children can...more
What Is Chapter 7 Bankruptcy? Do you own property in San Diego? Are you aware about the concept of filing for bankruptcies and foreclosures? First of all, let us take up the term, "bankruptcy." You have bought a property by taking a loan from a bank or from a lender. What happens when you can't make your loan payments on time? A notice will be sent to you reminding you to clear your pending payments. In case you fail to repay the amount within this period, the creditor will issue a foreclosure on your property.Foreclosing of a property means that the borrower has to vacate the property and the control will go to the bank or the lender. They might sell it to reimburse the amount which was loaned to the borrower. You can stall the foreclosure proceedings by filing for bankruptcy. There are two types of bankruptcy known as chapter 7 and chapter 13. However, most people tend to opt for the chapter 7 bankruptcies.To file for Chapter 7 you have to keep these things in mind:* You need to make a list of your assets and liabilities. You also need to keep a record of your creditors and their claims.* You need to maintain a record of liabilities and income. This list will include your...more
Basic Information about BankruptcyDeciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person's control -- loss of a job, divorce, or significant illness. A recent study published in the American Journal of Medicine concluded that 62.1 percent of the bankruptcies...more
Debunking Myths about why People File for BankruptcyA common misperception about bankruptcy is that people who file for bankruptcy were irresponsible with their finances, or recklessly incurred debt they could not repay. While these circumstances certainly are a factor in some bankruptcies, recent studies and analysis demonstrate that the majority...more
Remedies for Attempt to Collect Debts Included in BankruptcyOne of the most important benefits of filing for bankruptcy is that it will stop collection calls, letters, and other activities by debt collectors. This includes garnishments, lawsuits, and repossessions. When creditors or collectors do not cease collection efforts, consumers may be able to seek additional recourse in court. This article discusses some of the key protections for debtors who are being harassed over bills included in bankruptcy.Violation of the Automatic StayWhen any person, business, or other entity files the initial petition for bankruptcy, the bankruptcy court judge enters an automatic stay. This is essentially a "safe harbor" for the debtor to catch their breath and prepare for the rest of the bankruptcy case. During the automatic stay, all collection efforts of any kind are prohibited. The bankruptcy code provides a private cause of action for an individual injured by any willful violation of the automatic stay. The injured individual is entitled to recover "actual damages," including court costs and attorney's fees. An award of actual damages requires a showing of injury or loss stemming from...more
How will Filing for Bankruptcy Affect my Credit?Bankruptcy is a life changing event in any person"s life, with long lasting consequence. For example, a record of the bankruptcy will appear in the Public Records section of your consumer credit report...more
The Process of Filing for BankruptcyThe procedural aspects of the bankruptcy process are governed by the Federal Rules of Bankruptcy Procedure and local rules of each bankruptcy court. The Bankruptcy Code, Federal Rules of Bankruptcy Procedure, and...more
Filing for a bankruptcy is the last resort in situations where an individual is unable to repay his debts. In US, bankruptcy can be filed under the different chapters. In most cases, bankruptcies are filed under Chapter 7 or Chapter 13. Bankruptcy is...more
There are a lot of terms and processes that get thrown at you when researching for bankruptcy--and they may be hard to understand at first. For instance, what is the difference between a dischargeable and a non-dischargeable debt? The core of the...more
Debt Settlement Vs Filing Bankruptcy - Why Bankruptcy Should Always Be The Last Option? Over the past few years a lot of unsecured loans are issued to people. Many individuals are taking money from banks in order to meet their expenses and...more
Credit Card Debt - Bankruptcy Or Debt Settlement, Which Makes More Financial Sense? Are you really stressed out by the burden of credit card debt? Don't worry as many people are experiencing the same situation. Your dream to get rid of your...more