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Bankruptcy credit counseling is a requirement of the new bankruptcy law effective October 17, 2005. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires court approved bankruptcy credit counseling to be completed by debtors prior to filing for bankruptcy within the 180 days immediately preceding the filing of a bankruptcy petition.
The new requirement for bankruptcy credit counseling prior to filing for bankruptcy may be completed by internet credit counseling, phone credit counseling, or group or individual credit counseling at specific, court approved bankruptcy credit counseling agencies. Under the new bankruptcy law, the U. S. Trustee's Office is responsible Click here to read the rest of this article ... |
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| Before you file bankruptcy, it is a good idea to look into other alternatives if at all possible. New bankruptcy laws make it more difficult to file than it used to be.
Before you file bankruptcy, it is a good idea to look into other alternatives if at all possible. New bankruptcy laws make it more difficult to file than it used to be.
Why Has Filing For Bankruptcy Doubled?From the period of 1994 to 2004, filing for bankruptcy has doubled. Bankruptcy filing has spun out of control with consumers being targeted with easy credit. This Click here to read the rest of this article ... One of the most common questions debtors ask bankruptcy lawyers is "Will I be able to get credit after filing bankruptcy?". Most people are suprised to find their mailboxes flooded with new credit offers after filing bankruptcy. Why does this happen? Why would a creditor give more credit to someone who has filed bankruptcy? Creditors make money by lending money. If creditors don't lend money, they don't make money. Even credit cards for people with the best credit ratings often carry credit card balances that will not be paid off within the next 20 years if the debtor pays the minimum monthly Click here to read the rest of this article ... Each year, millions of people file bankruptcy as a means of erasing their consumer debts. While this approach may relieve stress, a bankruptcy is damaging, and will hang over your head for the next ten years. Still, it is possible to overcome bankruptcy. The key is making smarter financial and credit decisions. With this said, some people choose to purchase a home after a bankruptcy. Here are a few pointers to consider when buying a home. Reasons to Delay the Buying Process after Bankruptcy If you consult with mortgage or financial experts, they will likely discourage you from buying a home following Click here to read the rest of this article ... |
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| 6 Tips on Choosing a Bankruptcy Lawyer When all else fails, when you have tried a debt consolidation company and they are not able to help, and when your financial state is too dire to solve, the only solution is to file bankruptcy. However, filing bankruptcy is not such an easy procedure. One of the main problems of filing bankruptcy is getting the right lawyer! If there is anything worse than filing for bankruptcy, it's having to do so and then hiring the wrong attorney for the job. For many lawyers, bankruptcy filings have become a volume business, and debtors facing bankruptcy sometimes unfortunately obtain inferior legal services. For this reason, you'll need to do some research before hiring a bankruptcy lawyer. Top 6 Tips on Getting a Bankruptcy Lawyer Here are 6 tips to help you find the best attorney to handle your bankruptcy filing. Remember, do not just get any lawyer, the lawyer you get must be a lawyer specializing in bankruptcy. 1. Do not procrastinate. The idea of hiring a bankruptcy lawyer is daunting by itself, but the more you procrastinate, the worse the situations will become. Do not let this prevent you from beginning your investigation for a good lawyer as soon as you know you're going to need one. Waiting until the last moment won't give a good attorney enough time to adequately prepare your case. 2. Seek the advice of other legal professionals. Ask yourself which business acquaintances you know, who might in turn know a good bankruptcy lawyer. If you have a personal attorney, that's a good place to start. Understand, however, that bankruptcy law is a specialty. If your lawyer offers to handle the case as part of your usual retainer, be certain he knows his way around bankruptcy court. 3. Spend a day at bankruptcy court. Observing bankruptcy attorneys in action might give you an idea of the type of lawyer you want representing you. At the court you can also find out which local attorneys specialize in this form of law. 4. Do not hire the cheapest lawyer. Obviously, in this circumstance you do not have a lot of cash to spare. But like most things in life, you get what you pay for. You want a lawyer who knows the system, and who will do the best job of representing you. That may end up costing a little more. Your local bar association can probably help you determine whether a proposed fee is fair and in line with local standards. Anybody who charges too much or too little probably shouldn't be your lawyer of choice. 5. Visit law offices. An office appraisal can give you vital clues as to how a lawyer would handle your case. Look around the office and see how well organized it is. Is it neat, or are there coffee-stained folders strewn about the floor? You wouldn't go to a doctor with a dirty examining room; do not hire a lawyer with a disorganized office. 6. Ask lots of questions. Once you have some candidates in mind, ask them the following questions (The answers to each of these questions are critical, so if you get evasive answers, it's probably a red flag that this is not the firm for you): What certifications do you have? How many bankruptcies have you handled? How many do you handle in a month or year? Of those, how many are business filings? How much access will I have to you during my filing? If I'm not working directly with you, who will I be working with? Can I interview the person with whom I would be working? What time frame do you have for this bankruptcy? How will the procedure work? Remember, it is very critical that you get the right lawyer for the job. You have to be comfortable with the lawyer and the lawyer has to be convincing to you as well. How else can the lawyer help you if you are not comfortable with him? Choose wisely, do not rush into a decision, run through the six steps above again and again until you are certain you have the right lawyer! Bankruptcy... a frightening word with serious connotations. In recent years governments have been cracking down, making penalties for bankruptcy more severe in an attempt to make them more difficult to attain so that only those in serious need can apply for them. Despite the negative image that is associated with bankruptcy and the various problems that come along with declaring a bankruptcy, it doesn't have to be frightening; after all, bankruptcy was designed as a way for those individuals and businesses who find that their finances are out of control to get the help that they need to organize their finances and pay off their debts. Once you take the time Click here to read the rest of this article ... If you want to file bankruptcy on your own, you can. You just need to make sure that you get the right bankruptcy form. There are a lot of different places where you can get a bankruptcy form - including online. One thing you should keep in mind, however, is that you should not have to pay for your bankruptcy form. Therefore, if you do look for bankruptcy forms online, make sure that the site you go to is not charging you for them - after all, why pay for something that is readily Click here to read the rest of this article ... |
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