Articles Posted in Washington DC

If you are behind on your mortgage payments, your mortgage company will take legal action to foreclose on your home. Many homeowners are willing to take whatever measures necessary to keep their homes, even for an indefinite time. Chapter 13 bankruptcy is often the only way to fend off a foreclosure in the event that…

Bankruptcy fixes many past and current financial problems. But before you file, it’s smart to ask: How will bankruptcy affect my credit score? What is my credit score? Your credit score is a numerical expression (between 300 and 850) based on the statistical analysis of your individual credit data. Your credit score is very important.…

When a homeowner files for Chapter 7 bankruptcy protection, the very first page of the bankruptcy filing that the mortgage company turns to is the Statement of Intention. The Statement of Intention (or Statement of Intent) discloses the debtor’s intention toward secured property, like cars and homes. In the Statement of Intention, the debtor states…

About a month after you file for Chapter 7 or Chapter 13 bankruptcy, you will need to go to the Meeting of Creditors. Your attendance at this meeting is mandatory. But who else will show up? The Meeting of Creditors Also known as the Section 341 hearing, the Meeting of Creditors allows a court-appointed trustee…

If you are considering filing for bankruptcy protection, you have likely considered what effect it will have on your future finances. After all, bankruptcy is a matter of public record, and the bankruptcy will remain on your credit report for 10 years. In addition, your credit score will take a major hit when you file. Reality…

If you find yourself in an unmanageable financial situation and don’t see any way out, bankruptcy may be a good solution for you. Bankruptcy can help you reduce or even eliminate your debts. Bankruptcy also provides potent protection against creditor collection efforts and harassment. And bankruptcy can reduce the stress in your life in many…

You have your own story, but so do we all. If you’re considering bankruptcy, you may feel isolated or uniquely afflicted. But you are not alone. In fact, certain recurring circumstances lead people to file bankruptcy. Here are the top ten reasons for bankruptcy. 1. Debt The primary goal of bankruptcy is to eliminate debt. In…

Taking the wrong actions either before or during your bankruptcy can badly damage your chances of obtaining a favorable outcome. Understanding your rights and responsibilities can help assist you to minimize your risks. Consult with a bankruptcy lawyer to help you navigate the pitfalls commonly encountered by those seeking bankruptcy protection. Here is a DON’T…

You are in Chapter 13 bankruptcy and you need some wheels. It is possible to purchase a car while in an active Chapter 13 case, but you will need to go through a few extra steps than the average car buyer. Considering that Chapter 13 bankruptcy last three to five years, you may wonder: Can I…

Payday loans are bad news. Defaulting on any loan reflects negatively on a person’s ability to re-pay debt, but not all lenders report defaulting loans. Payday loans do. There are lots of negative consequences to defaulting on cash advance or payday loans. If at all possible, you should steer clear of payday loans to avoid headaches, fees, and…