Category Archives: Bankruptcy

Bankruptcy protection is a constitutional right and our attorneys have a wealth of experience to share with you.

How Can I Rebuild My Credit After Filing for Bankruptcy?

Many people who file for bankruptcy are afraid of what could happen to their credit reports. You have a credit report on file with the three credit reporting agencies (CRAs), Equifax, TransUnion and Experian. The information on your credit report is compiled into a FICO credit score, which is used by most lenders. After a bankruptcy, it is likely that your credit score has taken a hit regardless of your filing status. However, the good news is that your credit score is not permanent. You can begin repairing your credit during or after your bankruptcy. Steps to repair your credit after bankruptcy may include: Pulling your credit report: To get an idea of what needs to be repaired, you will have to pull your three credit reports from Equifax, TransUnion and Experian. You can receive one free credit report from each agency once per year. The three CRAs operate annualcreditreport.com,…
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When are Debt Collectors Breaking the Law?

If you have fallen behind on your debt obligations, then you most likely have been contacted by a debt collector. When it comes to consumer debts, third-party collectors are limited in what they can say to debtors. The Fair Debt Collection Practices Act (FDCPA) grants borrowers with consumer debts certain protections against aggressive debt collection tactics. Under the FDCPA, debt collectors are forbidden from: Making threats: Collectors cannot use threats of violence to collect debts. In addition, they cannot threaten your reputation. For example, it could be against the FDCPA if a collector threatened to have you fired for not making payments. Using obscene language: Debt collectors cannot use obscene or profane language when communicating with debtors. Making harassing calls: If a debt collector calls you at midnight multiple times a week, they are likely in violation of the FDCPA. Collectors cannot make phone calls with the intent to harass…
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Which Bankruptcy Options are Available to Small Businesses?

Is your small business struggling to pay back its debt obligations? Have creditors filed lawsuits against you for defaulting on business debts? If you answered yes to these questions, then you should consider filing for bankruptcy. When consumers or businesses file for bankruptcy, an automatic stay is issued that temporarily halts most collection attempts. Depending on the circumstances, your business has bankruptcy options that may include: Chapter 11 bankruptcy: During a Chapter 11 bankruptcy, your debts are reorganized and paid through a repayment plan that can for up to ten years. After your business files Chapter 11 bankruptcy, you still retain control of over most business decisions. Chapter 11 is a good choice if your finances are complex and if you want to stay in business. Chapter 7 bankruptcy: If you want to close shop and pay off your creditors, then Chapter 7 bankruptcy might be the right choice for…
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