Archive for Bankruptcy

DFWMoneyMatters | October 12, 2010
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Different ways to file bankruptcy

Let’s start by understanding the various ways (methods) on how to file your forms.  The main idea behind filing yourself is to save money. Legal fee’s are expensive.  This article will offer some ideas of the different methods to use. This is in no way intended to give you legal advice or offer financial advice.

If you are going to declare bankruptcy yourself, you must start by filling the proper forms.  There are a few different methods to use to accomplish this.

The Safe Method.

First, the simplist way and probably the safest method to file bankruptcy is to hire a bankruptcy attorney. They will help you through the process from A to Z.  It is the attorney’s responsibility to prepare, review and assess your case. They will appear at the hearing with you. Yes, you will have to appear before the bankruptcy court. There may some or all of your creditors there. Your attorney will be able to handle these issues. The downside of course is the expense. However, this is the safest and best possible method.

The Mixture Method.

In this scenario, you will use yourself and the services of a bankruptcy attorney, paralegal or a legal service firm. This is the best when you intend to claim chapter 7 which dismisses you of all your debt.  You will have to pay the fee to whomever you choose to help you prepare your documents & giving you instructions on ‘how to’ do what you will be doing….Claiming bankruptcy.

The Most Inexpensive Method.

This is a do-it-yourself solution of “pro se” filing.  First and formost you need to teach yourself with the depth of the bankruptcy Laws. You can search out the forms online or you can acquire up to date kits or forms. Be certain to seek out a publication on bankruptcy with information, step by step. Your local court or those associated with the courts can not and will not give you advice because that is considered ‘practicing law’.

Now What?

Which process will you use? The new bankruptcy laws do not require you to have an attorney, however, it is in your best interest to hire one. If you choose not to hire a professional, you will have to have patience and be very diligent.

Remember when filing bankruptcy, you are either liquidating your assests or you are trying to protect them to re-structure. Many intricate laws you may not be aware of that your attorney will know about. Only one example Is that of the car you own. The bankruptcy court only allows your vehicle to be worth only a certain amount.

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Category: Bankruptcy, Bankruptcy Tips Advice | Tags: ,
DFWMoneyMatters | August 16, 2010
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It is Possible to Repair Your Credit after a Foreclosure

We know it sounds unbelievable, but the truth is that there is life after your underwater mortgage and there is life after foreclosure—and it’s not such a bad life after all!

Well, now the “experts” are telling dire tales about how you’ll never get credit again if you foreclose on your underwater mortgage.

We don’t know about you, but we’re not getting fooled again! At least, that’s what we decided when we realized that we were raping what was left of our savings to keep paying our mortgages even while our businesses were suffering.

So we took the foreclosures and here’s what we found—yes, your credit will take something of a hit after foreclosure. But if you plan carefully, you’ll be able to survive that hit with flying colors!

Here’s what you need to do. Once you know you want to foreclose on your underwater mortgage, start planning before you miss a payment. Will you need a new car within the next 5 years? If you’ll be able to keep up with the payments, get that car now.

The next things you can do are to apply for a mortgage modification OR hire a Realtor to list your house and negotiate a short sale on your house. You almost certainly won’t get a mortgage modification, and there’s a chance that you won’t be able to sell your house in the short sale and it will end up foreclosing anyway.

Why do these things, then? Because, while you’re in the application and the short sale processes, you can live in your current house payment-free! Think of all of the money you’ll save on mortgage payments that you can use to start your new life.

But you’ll need to do something else with that money, too—keep up with your other bills religiously. If you do that, it’s more likely that your mortgage will be seen as an aberration rather than an indication that you can’t be trusted with credit.

Remember—more than 2 million foreclosures have happened since 2007, and more are coming. With all of that company, just how likely do you think it is that a mortgage foreclosure alone is going to hold any of us back for very long.

Now, there is one thing you don’t want to do while you’re deciding what to do with your underwater mortgage and carrying through with your foreclosure. You don’t want to listen to your mortgage lender. To banking institutions and their CEOs, we are only numbers on a page.

They’ll tell you your life and your family’s lives will be over, that you’re an irresponsible deadbeat, and all sorts of other nasty things if you talk to their employees during your foreclosure! If it gets to the point that they won’t stop calling you—and it probably will—scrap your land line and invest in a pre-paid cell phone to get yourself some peace of mind.
By: Bud and Kristin Gragg
Under Creative Commons License: Attribution

Category: Bankruptcy, Credit Repair, Foreclosures | Tags: , ,
DFWMoneyMatters | February 23, 2010
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Millionaire mindset – Have You Got what it takes to become a Millionaire Online? – Professional Process Server

<p> millionaires every year, as has been done on the Internet. Number of people working on the internet has doubled in the last two years and has only increased. Do you have what it takes to become successful? After reading this article, think positively and to provide information with an open mind. Success is just around the corner … I just do not understand yet. </ P <p>> Are you afraid of getting scammed online? Do you think you work from home, it's all just a big lie? Do not blame. Thousands of people are scammed every day online and then simply abandoned. Millionaire mindset starts right from the start. People who are successful today did not give up, to be cheated as a springboard to achieve realistic goals. </ P <p>> without bankruptcy will not succeed, you make a mistake. In this way, you will learn how to do your job well or actions and push them to the next level of income. You need to expand your thought Professional Process Server and not tunnel vision. The most successful online millionaire hundreds of projects, maps and step by step Professional Process Server below … What prevents you from? </ P> <p> dedication, motivation and discipline are the key to become a millionaire. You need to be treated as a real job and hours of real work. You need to doyou want to or not. </ P <p>> Do you want some more useful information? Then come and visit my other items <rel = "nofollow onclick =" javascript: pageTracker._trackPageview ( '/ O / article_exit_link') "href =" http://ezinearticles.com/?The-Millionaire- mentality – - Do-You-Got-What-it-is-to-become-a-Millionaire-Online? & Id = 3091815 "> click here </ a> </ p>

Category: Bankruptcy |
DFWMoneyMatters | November 30, 2009
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VA Chapter 7 Bankruptcy – Austin bankruptcy lawyer

A consumer can file a VA chapter 7 bankruptcy that is the same as in any other states.  In order to start your bankruptcy process for the discharge of your debts, you must file a bankruptcy petition at the bankruptcy court.  This may sound straight forward and simple but your bankruptcy papers are made of dozen of forms that describe your assets and other important financial information that belong to you.  Preparing these papers can be done on your own but I would not suggest it.  Your bankruptcy papers are crucial in the decision of the bankruptcy court, whether to approve your petition, convert it or decline it.  Your bankruptcy papers must not be taken for granted.  Any errors that you make in your paper due to your lack of information can lead to a whole lot more of your assets or properties being taken away to liquidation.

A person can be eligible to file a VA chapter 7 bankruptcy by passing a means test and providing the necessary requirements stated in the new bankruptcy law.  How high your income is can affect your chances of being eligible to file chapter 7 bankruptcy.  If you have an income that exceeds your expenses, then more likely, you will not be eligible to file a chapter 7 bankruptcy.  Consumers who have below average income have a greater chance in passing a means test.  This is because a means test is a process in which a bankruptcy trustee can determine whether your debts can cause you undue hardships or whether you can pay your debts through a repayment plan.   Results of the means test can either convert your bankruptcy chapter 7 to a chapter 13 or even declined it.

During the process of your bankruptcy chapter 13, negotiations will made between the bankruptcy trustee, yourself and the creditors about your properties that are nonexempt.  These nonexempt properties are your assets that you will have to hand over to a bankruptcy trustee so that it can be liquidated.  An amount will be generated from your assets that will be used as payment to settle your debts from your creditors.  Debts that are left out after the liquidation are eliminated and you are not obliged to settle those debts that were not covered in the liquidation.

A person can file bankruptcy chapter 7 in a number of ways.  Hiring a full time bankruptcy Austin bankruptcy lawyer to do all the work for you is the easiest.  All you need to do is update yourself through your Austin bankruptcy lawyer about the status of your bankruptcy case.  This way is convenient but you need money to afford a full time Austin bankruptcy lawyer.  If you have an allotted amount for this then you can file your bankruptcy this way.

Another way which I suggest is hiring a petition preparer to prepare your bankruptcy papers for you.  This way, you do not need to spend a lot of money and you get the same result.   You just need to pay them their flat fee and you are ready to go as long as your papers are ready.  For more support on how to file bankruptcy, visit the link below.

Category: Bankruptcy |
DFWMoneyMatters | November 30, 2009
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An Augusta, GA, Bankruptcy Lawyer Can Help You in Financial Straits – domestic violence attorney las vegas

An Augusta, GA, Bankruptcy Lawyer Can Help You in Financial Straits

The fact of the matter is that today’s economy is in a sad state of disrepair. If you find yourself in a financial hole that is hard to dig out of you need to recruit the assistance of an Augusta, GA, bankruptcy lawyer. The term bankruptcy is stigmatized by many people such that they fail to consider bankruptcy as an option. However, in many situations bankruptcy provides people with the best possible alternative for their particular financial circumstances. Bankruptcy can provide individual debtors with the fresh start they need to get back on solid financial footing. An Augusta, GA, bankruptcy lawyer will explain the bankruptcy process to you and help you understand whether it is indeed a viable alternative.

An experienced domestic violence attorney las vegas will convey to you the various types of bankruptcy. The two most common types are Chapter 7 and Chapter 13. With Chapter 7, debtors have an opportunity to discharge their debts and begin anew. With Chapter 13, debtors have an opportunity to consolidate their debt into a repayment plan in which they have a period of years to repay their debt. Both of these options can give debtors the relief they need to reduce their financial anxieties.

While it is true that a bankruptcy leaves a mark on a credit report, it is sometimes the case that filing for bankruptcy can actually help debtors begin rebuilding their credit. The fact of the matter is that missed and late payments can add up and eventually cause more damage to a credit score than a bankruptcy.

Upon filing for bankruptcy you can almost immediately begin rebuilding your score instead of continuing to create harm by missing payments. Moreover, filing for bankruptcy can in some instances help you retain possession of assets that are in jeopardy of being seized. An Augusta, GA, bankruptcy lawyer will look at your financial situation and explain whether or not you are in a situation where bankruptcy is advantageous.

Category: Bankruptcy |