Posts tagged ‘bankruptcy’

The Consumer Credit Counseling Certificate in Bankruptcy People looking to file bankruptcy must first participate in a consumer credit counseling program and receive a certificate of completion that is good for 180 days. Your bankruptcy must then be filed within that time period, with the certificate attached, or the filing will be rejected. But what is the class for?
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Credit Counseling Before Bankruptcy

According to laws passed in 2005 that affect Maryland bankruptcy, an individual must receive credit counseling at least six months before filing for bankruptcy. This credit counseling provides them with the information and helps them decide whether they need to file for chapter 7, which is liquidation, or chapter 13, which is a three to five year repayment plan. Chapter 11 bankruptcy is for businesses and, thus, individuals do not need to concern themselves with it when considering personal bankruptcy.

Credit counseling might help a person decide that they do not even need to file for Maryland bankruptcy. Instead, they negotiate with their creditors and come up with a more modest repayment plan so they don’t have to resort to bankruptcy. However, if Maryland bankruptcy is necessary, it does provide several benefits to the filer, be it chapter 7 or chapter 13.

To begin, once you have filed for Maryland bankruptcy and have hired a bankruptcy lawyer, all creditors must deal with you through your lawyer. Sometimes, creditors’ collection activities might verge on harassment, and even threats, of which are illegal, though most people might not know that. Your lawyer, however, will.

This is a result of something called an automatic stay. Once a bankruptcy case has been filed, either chapter 7 or chapter 13, an automatic stay goes into effect. This prohibits any act to obtain money or personal property from a debtor. Lawsuits involving such debts must also stop.

A creditor, or someone acting on a creditor’s bequest, cannot violate an automatic stay or they risk being tried for contempt of court. Further, the automatic stay means that any property that has been seized and repossessed must be returned to the debtor. Foreclosures or sheriff’s sales or anything else resulting in loss of the debtor’s personal property must also cease.

This provides breathing room so the debtor can file and reorganize their debts, and lives.

A New Wiki Style Internet Page is Then Available found on the Internet Designed by Experienced Bankruptcy Attorneys inside Temecula, California

Temecula, CA (PRWEB) May 20, 2013

Temecula bankruptcy attorneys Zhou & Chini newly introduced a truly useful plus enlightening website found on the topic of bankruptcy to aid educate their customers. The page has been tailored like a Wikipedia page thus which persons might discover it consumer friendly, plus effortless to navigate by. The lawyers have added significant hyperlinks to government information plus statistics to aid their customers gain access to genuine plus reliable info online. Also individuals whom plan about declaring bankruptcy inside California inside close future might use this website to find a professional lawyer whom may enable them receive from financial trouble by filing for bankruptcy. When it comes to bankruptcy, folks frequently search for experienced plus very qualified attorneys to find their aid regarding their active financial condition. The easiest way to locate a capable attorney with years of experience inside this location is to look the web. But more frequently than not, the sources accessible online are either incomplete or contain misleading info which leaves a individual befuddled plus confused about what to do upcoming. The same has been reported by people living inside Temecula whom plan about filing bankruptcy inside close future. Considering this condition, that is moreover obvious inside other cities plus cities of the United States, the bankruptcy attorneys Zhou & Chini that are very well-known inside this area newly came up with a answer inside the shape of the Wiki design website. This page was lately introduced by the lawyers thus which persons will receive inside touch with them by the reliable source and receive all of the necessary info they are searching for inside a matter of the some clicks. The most worthwhile aspect of the page which has been crafted like a Wikipedia source is the inclusion of significant government hyperlinks pointing to genuine plus credible websites where previous statistics plus fundamental info regarding federal bankruptcy regulations is found. To speak to a bankruptcy lawyer inside Temecula or to see the hot page plus see the numerous resources click here,

Without these a source, it happens to be upcoming to impossible to receive the needed information without spending a great deal of time looking, plus then discover a trustworthy plus experienced attorney to file bankruptcy because shortly because potential. Another advantageous thing regarding this website is the fact that it is very useful to debtors is the amount of hyperlinks found on the page which will educate them found on the different Chapters of bankruptcy. All those honest plus hard-working people that want to clean up their credit report and commence with a clean slate could see this page, plus those considering filing for bankruptcy inside Temecula could talk to a attorney that may advise them. It is also significant to understand regarding the additional accessible choices plus how to act sensibly when the courtroom has provided a choice inside the favor. A individual can negotiate with lenders to extend the deadline for generating repayments, or come to any alternative settlement which allows those to avoid approaching the courtroom plus filing bankruptcy. If, though, bankruptcy appears to function as the just useful way left to a debtor, he or she could contact a bankruptcy lawyer to completely discuss their choices. Understanding all rules plus laws of the California bankruptcy regulations plus federal regulations is difficult, the bankruptcy attorneys inside Temecula offer consultations to discover an people legal choices. For more info regarding the fast call them straight at 888-901-3440.

The Temecula bankruptcy lawyers function with expert SEO service to support inside law fast advertising to advertise the content regarding the value of talking with a bankruptcy attorney inside Temecula CA, when somebody is considering filing. The fast continues its online presence by providing zero expense bankruptcy info about bankruptcy companies website plus social media pages. By utilizing a neighborhood SEO firm to advertise free consultations, the fast hopes to attract more Temecula citizens interested in financial relief. To learn more info view the bankruptcy lawyer Temecula Facebook page,

About the Firm: The Law Office of Zhou & Chini servicing the cities plus counties of California. He is a graduate of UCLA plus has been practicing law because 1999. Mr. Zhou has a riches of experience inside bankruptcy, civil litigation, family law, unlawful law plus unlawful detainer. Zhou plus Chini Law Offices offer bankruptcy assistance to Orange County, Los Angeles, plus San Diego citizens.For more info regarding utilizing a bankruptcy lawyer Riverside law workplace, call toll free.

Contact: Ron Chini

Website: info(at)bankruptcyattorneyorangecounty(dot)org

Phone: 888-901-3440

Related Free Credit Report Press Releases

How much does a credit score improve after bankruptcy falls off a credit report?

Question by GreenFam: How much does a credit score improve after bankruptcy falls off a credit report?
We are hoping that our credit score has improved greatly now that the bankruptcy is off (it was a long 10 years) and we haven’t acquired much debt.

Best answer:

Answer by Beverly S
Your credit score won’t improve just because the bk comes off. It takes paying debt on time to improve score- the bk merely pulled it down. Every late payment pulls it down, every on time pulls it up. Too much debt pulls it down. Sounds like you are on track but it definately takes longer to increase scores that to decrease.Good luck!

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What does a credit report look like after bankruptcy?

Question by Whitney: What does a credit report look like after bankruptcy?
I wanted to get information on what your credit report looks like after filing ch 7 bk. Does it still list all your accounts with the balances just with discharged on each, or is your credit report blank with just the bk on it?

Best answer:

Answer by Sparkles
Believe me, it is not blank.A Chapter 7 bankrutpcy may display on your credit for 10 years from the date of register. Chapter 13 may stay for 10 yeas also, but it is customary for those to be removed after 7 years.Seven to ten years from the date of dispatched. All discharged bankruptcies whether a state or federal filing remain on a CR for 10 years. A dismissed chapter 13 remains for 7 years, a dismissed chapter 7 remains for 10 years. Chapt.7-11-12 will remain for ten years. A chapter 13 will remain for seven years if successfully completed, for 10 years if dismissed. Ten (10) years for a discharged chapter 7 or 13. Seven (7) years for a dismissed chapter 13, ten (10) years for a dismissed chapter 7. Although it is truthful that the federal Fair Credit Reporting Act does provide that bankruptcy entries will remain for 10 years, there are some creditors that will only leave a chapter 13 bankruptcy on your record for 7, rather than 10 years. They do this to promote people to pay part of their debts rather than discharge it all under a chapter 7. More importantly, the effect of bankruptcy on one’s ability to get imputed is vastly overstated. The key to getting the credit you need has far more to do with the amount of present income you have rather than any negatives on your credit report. In short, if you have good present income, the creditors will look past your credit report to your wallet in the sense that it is possible, even with a bankruptcy on one’s record, to get credit for cars and new credit cards as soon as you are discharged in a chapter 7 (about four months after you file), and after a year or so, you can even get a mortgage on a house. They may not give you the best rate, but if you have good present income, even a person with a bankruptcy on their record can get the credit they want in almost all cases. You will not qualify for a FHA until a chapter 7 has be discharged for 2 years. A chapter 13, you will only have to wait a minimum of 1 year from filing date.

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