Bankruptcy filers who would like to rebuild their credit are justifiably concerned about how long a bankruptcy can appear on their credit report. The answer is that bankruptcy information can stay on your report for 10 years. Most other types of negative information can be reported for 7 years. Usually, a Chapter 7 stays on a ...
Many people who call are concerned about their eligibility for a Chapter 7 bankruptcy and wonder if their level of debt will allow them to file for bankruptcy. The answer is that there is no minimum debt amount required to file a Chapter 7 bankruptcy. A more important issue is whether you earn enough income ...
Once a Chapter 7 bankruptcy is filed, it takes a day or two to receive notice of the date and time for the meeting of creditors, which is generally scheduled two to three weeks away from the filing date. Once the meeting of creditors takes place and assuming there are no complicating factors in ...
You will see all sorts of advice about "managing debt." But when it comes to credit card debt, mere "management" can get you into trouble. Truth is, the best way to "manage" credit cards is not to carry a balance at all. Don't spend more than you can afford. Pay off the entire ...
Bank of America recently agreed to drop the requirement that cardholders resolve disputes in arbitration. The bank did this as part of a settlement of a lawsuit in which they were accused of conspiring with other banks to require credit-card holders to arbitrate disputes instead of going to court. Other banks are still involved in ...
Most bankruptcy filers do not have to go to court. Instead, every Chapter 7 case will be scheduled for a meeting of creditors, which does not take place in a courthouse. In Newark, New Jersey, the meetings of creditors take place in a downtown office building. Most large creditors (such as credit card companies) ...
Image via WikipediaOne reason people find themselves in the position of wanting to transfer their assets before filing for bankruptcy is that they are afraid the bankruptcy trustee will take their stuff after ...
Image by S Migol via FlickrPlanning on transferring your largest asset to a relative just before filing for bankruptcy so that the bankruptcy court can't get to it? As a bankruptcy lawyer, I ...
Image by ladybeames via FlickrOne way to get your creditors to stop harassing you is by filing for bankruptcy. But how does filing for bankruptcy stop creditor calls and letters? Through something called the ...
