It is quite common to find people who have made a wreck of their finances and are hardly able to recover from it. Recovering form bankruptcy and rebuilding credit is not the easiest thing in the world but it is possible. Usually, such people do not even realize how they got to the situation they find themselves in. so they just go on struggling in the same path that got them financially messed up in the first place. It is also important to find a way out of every financial problem as soon as...
In my 30+ years as a Trustee, I have seen many entrepreneurs and small business owners in financial difficulty. What they need is help.
Some have a business that cannot (or should not) be saved and others have businesses that we try to restructure so that they can move forward, continuing to provide a livelihood for the owners and their employees. Part of what we do is to help the business owner understand and accept whether there is a viable business or not and to deal with the...
Owning a car is really a moment to enjoy. If this is your first car, then obviously your excitement will be more than ever. But, at the same time, you should be ready for every circumstance. It can be possible you meet with an accident, then it can be possible that you have to submit the chapter 7 bankruptcy but as you are not able to get the information about the same and your filing bankruptcy chapter 7 is not perfect, then obviously, you need to pay more. So, for avoiding the same, you need...
A bankruptcy chapter 13 is also called a wage earner's plan. You can earn the regular income and also can develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. There will be many clauses if your income is less, then how you manage the things and more in the line that you can identify. Obviously knowing those by your own is a great challenge. You can get the assistance of the expert who...
Bankruptcy is a federally mandated program set up to be administered by each state’s bankruptcy court where a person can have some of their debts discharged. The person desiring to have most of their debts discharged must be in dire financial straits and must realize their property, both personal and real, that is considered-exempt will be sold and the proceeds divided between creditors. A federally appointed United States Trustee will handle the sale and distribution of funds for Chapter...
Here at Fred Wehrwein PC, among the most important cases that we represent are Chapter 13 bankruptcy cases. While bankruptcy cases are usually straightforward, there are a number of hurdles that you might need assistance in navigating. For instance, it’s possible to avoid foreclosing on your home when you file for Chapter 13 bankruptcy. However, a Chapter 13 bankruptcy attorney such as ours should be by your side to make sure that the legal process is...
Sometimes, the massive amount of debt a person amasses can seem impossible to ever pay back. Thankfully, the government has devised a way for people that are suffocating under the burden of debt to get their lives back in order. This is through the legal process of bankruptcy.
However, there are actually two kinds of bankruptcy that individuals might use, and the courts will decide which you fall under. These are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Understanding the difference...
Indianapolis is the largest city and commercial center associated with Indiana and the particular seat regarding Marion County. There's recently been see this here in labour, a growth in real estate values and also a gain in population. As a result, typically the taxation stress on residents is now more restrictive since the city continues to grow. With an in-demand demand for very trained professionals and also a new property industry, coupled with regulating problems, Indianapolis...
Indianapolis is the biggest town plus business center regarding Indiana plus the particular seat of Marion County. The town, along with its metropolitan location, has seen a rapid growth in the past couple of decades. There's already been a growth in employment, a growth in real estate ideals and an increase in population. As a result, the taxation stress on taxpayers is becoming even more restrictive as the city continues to grow. Having an in-demand demand for highly educated...
Bankruptcy law is a branch of law that provides individuals the opportunity to eliminate or reduce certain debts. Bankruptcy provides an opportunity to these individuals to repay their non-dischargeable debts over time by providing a repayment timeline. It not just provides the individuals an opportunity to repay non-dischargeable debts, but it also provides individuals and organizations the opportunity to repay their secured debts. These secured debts may include vehicles pledged as...
Home mortgage problems eventually lead to the loss of property one is trying to purchase to default or foreclosure. People mostly turn to bankruptcy to end their financial crisis. This also includes those who want to prevent foreclosure of their property. Bankruptcy has proved to be an effective solution against taking away of assets a number of times.
In certain cases, bankruptcy erases almost all the debts of those who seek it. Still, there is a large population of those who had to give up...
Filing for bankruptcy is believed to be the best solution for those facing excessive debts and foreclosures. It provides you with the facility to avail bankruptcy loan once all your debts are repaid and the bankruptcy case is dismissed. The loan is offered to restore your financial condition and bring you back to normal. However, you should know that it's going to stay on your credit report for more than a decade (though the duration depends on the chapter you opt for). This bankruptcy record...
For most people, the idea of filing for bankruptcy is accompanied with negative feelings that are worsened by the misconceptions about the process of bankruptcy. Speaking to people reveals that it's not uncommon to discover that a person has been going through financial struggles since a long period of time which may be months or even years before they start discussing their situation with attorneys. People fear filing for bankruptcy without knowing that delaying it can make filing for...
People planning to file bankruptcy should get some knowledge about it before making the final decision because different types of debts are treated differently in bankruptcy. Some debts are discharged instantly or after a short period of time while others are required to be paid at any cost. There is also a third type of debt for which the individual can pay the amount after modification and can own any valuables to which it is attached. Therefore, a person who is considering filing for...
It is not easy to refinance your home loan or any other loan if you have filed bankruptcy. However, after getting discharged from bankruptcy, you can make use of options available to you. You may find several lenders able to consider your application. There are specialized lenders offering mortgages to individuals with bad credit scores. However, the interest rates will be higher.
Refinancing after a bankruptcy
Be proactive. Learn about the different options you can avail after the bankruptcy...
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