August 2012

31 Aug 13 Ways To Maximize Your Chances For Chapter 13 Bankruptcy Success

You file for Chapter 13 bankruptcy for a variety of reasons: to save a home, car or other property; to reorganize your finances; to account for income that's too high to qualify you for a Chapter 7; because it's better for your individual situation. Whatever your reason, you deserve to succeed. There's a long road involved in a Chapter 13 bankruptcy. With your Plan lasting 36-60 months, you're going to get to know your lawyer pretty well. You may not speak that often, but there have got to be open lines of communication in order to make things run smoothly. From the lawyer's side, a Chapter 13 bankruptcy involves not only thorough review of your financial information and meticulous preparation of the court documents, but also a keen eye to red flags. Confirmation, any good Chapter 13 lawyer will tell you, is in many ways the beginning rather than the end. But what about your responsibilities? It's a two-way street, after all.
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29 Aug Bankruptcy Petition Schedules Reveal Your Basic Information

Filing a bankruptcy petition is a process in which you disclose important information about your assets, your debts and your income and expenses. Anyone looking at your petition can usually see all they need to know about your financial condition by studying your bankruptcy schedules. Who will be looking at your bankruptcy schedules? Your bankruptcy petition is public information, accessible and available for anyone to view. Usually, however, the only ones who will study your schedules include the trustee assigned to your case, the United States Trustee’s office, and any creditors who care to.
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29 Aug How To Defend A Credit Card Lawsuit Even If You Owe the Money

If you're on the wrong end of a credit card lawsuit, you're faced with the prospect of a judgment against you. If you're smart, you've got powerful weapons you can use. Lots of times you're served with a lawsuit for a credit card debt and think to yourself, I owe the money. Guess I've got no defenses. You're wrong. In fact, there are a number of actions you should take immediately.

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29 Aug Delaying Bankruptcy Can Cost You More!

I was listening to Car Talk the other day. A lady called in and described a problem with her automobile. A noise was emanating from the engine and the noise would change in pitch as the engine revved. After much mirth and merriment, Tom and Ray diagnosed the problem with her car. They said that she needed to carry the car into a mechanic immediately. The lady caller stated that she was trying to keep the car without spending much money for repairs. Tom and Ray said that she could carry the car in now and spend a smaller amount on repairs or she could wait until the problem magnifies and pay significantly more for the repairs. I couldn’t help but think that bankruptcy often works in the same way.
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28 Aug Farm Bankruptcy Relief – Would You Qualify for Chapter 12?

Chapter 12 bankruptcy is debt relief for family farmers. It allows these farmers to reorganize their debts and save their farms and their way of life. But who qualifies as a “family farmer”? The bankruptcy code gives some guidelines, but does not always make it clear. Large agri-businesses do not qualify for Chapter 12. A family that grows a small vegetable garden in their back yard probably does not qualify. Among other factors, a family farmer is one who gets at least 50 percent of their gross income from their farming operation. But what does that mean?
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