Filing a bankruptcy case may seem scary at first, but there are many benefits to keep in mind, if it is the route you take for your financial situation.
Just because you are married, does not mean you automatically need to file a joint bankruptcy with your spouse.
Chapter 13 bankruptcies are three to five years with a monthly payment plan where you restructure your debt. Depending on your case during a chapter 13 you may hear the following terms or phrases.
Bankruptcy is a vast area of law with many nuisances and interesting facts.
Addiction is a disease and one that should not be treated lightly. At LifeBack Law, we have seen debt from all sorts of additions. Whether your addiction is gambling, drugs or alcohol, shopping, etc., we do not judge you we help you get your life back.
Secured creditors are those creditors with security interest in your collateral. Commonly this is houses, vehicles, boats, cabins or land. The creditor will take a security interest in the property, so if payments are not made they can get the value of their loan back from a repossession or foreclosure.
Although a bankruptcy discharge will cover a lot of an average consumers’ debt, there are some debts that are not subject to discharge.
A CMA, or comparative market analysis, is typically done by a licensed real estate professional. The realtor will usually go through your property to price it out for sale, comparing other properties of the same size, condition, and in similar neighborhoods.
Before filing a bankruptcy case, it is important that you do not incur any debt. There are specific federal laws that make certain debts incurred prior to filing presumed non-dischargeable. Meaning, under these laws creditors wouldn’t have to do anything to have the debt deemed non-dischargeable in your case.
The thought of filing a bankruptcy can be stressful and nerve-racking. Although, sometimes it is hard to get rid of all nerves and stress, at LifeBack Law we strive to make the bankruptcy process as stress free as we can for our clients. Filing bankruptcy is a big deal, which is why you should feel confident and comfortable with the attorney you hire.
An extremely common question in consultations for bankruptcy is whether all credit accounts will close after filing. Most attorneys will advise you that even if the account is at $0 prior to filing or excluded off of a case, it likely will still close.
When you file bankruptcy all of your creditors will be informed of the date, time, and instructions for your 341 hearing. The 341 hearing, also known as the meeting of creditors, is your creditors chance to ask specific questions about the information in your case. Although most creditors do not show up for the 341 hearing, some may.
Bankruptcy audits can happen randomly or for a specific reason regarding your case. This blog will explore what an audit is and possible reasons there may be an audit.
If you either had real estate transferred to you or you transferred real estate to your ex-spouse in a divorce, there are typical steps you should take to record ownership before filing bankruptcy. When you file bankruptcy you have to disclose all of your assets and any transfers done in the last two years, including transfers made within the divorce. If you do not have your ownership interest in real estate properly recorded, it could cause issues within your bankruptcy case. This blog will go through options you can take to properly record your ownership interest.
Filing a bankruptcy case may seem scary at first, but there are many benefits to keep in mind, if...
Just because you are married, does not mean you automatically need to file a joint bankruptcy with...
Chapter 13 bankruptcies are three to five years with a monthly payment plan where you restructure...
Bankruptcy is a vast area of law with many nuisances and interesting facts.
Addiction is a disease and one that should not be treated lightly. At LifeBack Law, we have seen...
The fear of the unknown can cause stress in even the most stress free of us. With bankruptcy...
Secured creditors are those creditors with security interest in your collateral. Commonly this is...
Although a bankruptcy discharge will cover a lot of an average consumers’ debt, there are some...
A CMA, or comparative market analysis, is typically done by a licensed real estate professional....
Before filing a bankruptcy case, it is important that you do not incur any debt. There are specific...
Credit Unions typically have more structured policies regarding what happens after a customer files...
The thought of filing a bankruptcy can be stressful and nerve-racking. Although, sometimes it is...
An extremely common question in consultations for bankruptcy is whether all credit accounts will...
When you file bankruptcy all of your creditors will be informed of the date, time, and instructions...
Bankruptcy audits can happen randomly or for a specific reason regarding your case. This blog will...
If you either had real estate transferred to you or you transferred real estate to your ex-spouse...
