Recent Posts in Bankruptcy FAQ Category
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Posted on Mar 11, 2011 By Long Island Bankruptcy Attorney
Some people find it helpful to file a bankruptcy case when they cannot pay their bills and they do not anticipate having the ability to pay their bills in the near future. Often, people fife because ...
Continue reading "Should I File for Bankruptcy?" »
Posted on Dec 15, 2010 By Long Island Bankruptcy Attorney
Although we are coming out of the recession, unfortunately many families are still struggling. Unemployment is still incredibly high, and bankruptcy filings and foreclosures have increased quite a bit ...
Continue reading "Statistics Show Recession Recovery Is Slow" »
Posted on Dec 5, 2010 By Long Island Bankruptcy Lawyer
Between 2000-2004, New York was the state with the fewest number of bankruptcy filings. It was followed by Connecticut, New Hampshire, Vermont, Delaware, Massachusetts and North Carolina. Topping the ...
Continue reading "Bankruptcy Rates Among the States" »
Posted on Aug 30, 2010 By Jacoby & Jacoby
It is an instant relief when after you file bankruptcy , the creditors’ harassing phone calls stop but that stress is replaced by dealing with a severely damaged credit report that makes getting ...
Continue reading "How Does Bankruptcy Affect My Interest Rates?" »
Posted on Aug 26, 2010 By Jacoby & Jacoby
We understand that the reason you are considering bankruptcy is most likely using your credit cards beyond your financial needs. Many times, debtors are forced to use their credit cards to pay for ...
Continue reading "Can I Use a Credit Card Before I File Bankruptcy?" »
Posted on Aug 23, 2010 By Jacoby & Jacoby
Having bad credit won't necessarily prevent you from getting a credit card, but it can make it much more difficult. Here are some tips that will help you get a new card and start to build your credit ...
Continue reading "How Can I Get a Credit Card When I Have Bad Credit?" »
Posted on Aug 19, 2010 By Jacoby & Jacoby
This question is a difficult one to answer without knowing your entire financial situation, whether you are looking to file Chapter 7 or Chapter 13 , as well as what assets and debt you both have. ...
Continue reading "My Spouse is Filing Bankruptcy. Is it Best to File Alone or Together?" »
Posted on Aug 16, 2010 By Jacoby & Jacoby
If your Chapter 13 bankruptcy confirmation has been denied, there are several things you can do to you to increase your chances of a positive outcome at the next hearing. If the reason confirmation ...
Continue reading "What can I do if my Chapter 13 Bankruptcy Confirmation is Denied?" »
Posted on Aug 12, 2010 By Jacoby & Jacoby
There are no specific tax deductions when a lender repossesses your vehicle . Repossessions and foreclosures are handled, for tax purposes, just like any other financial gains or losses from a sale or ...
Continue reading "Can a Repossession Cost be a Tax Deduction?" »
Posted on Aug 9, 2010 By Jacoby & Jacoby
First, determine your regular monthly income by taking an average of the last six months of pay. Add any other forms of income, including part time jobs or fixed income payments. You do not need to ...
Continue reading "How Can I Calculate Disposable Income in Chapter 13 Bankruptcy? " »
Posted on Aug 5, 2010 By Jacoby & Jacoby
It is possible for a discharge to be revoked under certain circumstances. For instance, a trustee, creditor, or the United States trustee may request that the court revoke the debtor’s discharge in a ...
Continue reading "Can My Bankruptcy Discharge Be Revoked?" »
Posted on Aug 2, 2010 By Jacoby & Jacoby
Chapter 13 bankruptcy provides homeowners an opportunity to either remove a second mortgage or a home equity line of credit (HELOC), or reduce the amount owed. To qualify for discharging the HELOC, ...
Continue reading "When is a HELOC Dischargeable Under Bankruptcy?" »
Posted on Jul 30, 2010 By Jacoby & Jacoby
Credit card issuers have stopped many of the “deceptive” or “unfair” practices outlawed by the Credit Card Act that was recently signed. But are they engaging in others? We came across this blog post ...
Continue reading "The Effects of the Credit Card Act" »
Posted on Jul 29, 2010 By Jacoby & Jacoby
The best way to avoid your bank account being frozen is to pay your bills on time and settle past claims against you. As long as you do not owe creditors or taxing authorities money, your bank ...
Continue reading "What’s the Best Way to Keep My Bank Account Safe From Being Frozen?" »
Posted on Jul 26, 2010 By Jacoby & Jacoby
If you don’t have a checking account because of past credit problems or another reason, there are other options that you can use to pay your bills. However, paying bills without a checking account ...
Continue reading "How Do I Pay Bills Without a Checking Account?" »
Posted on Jul 22, 2010 By Jacoby & Jacoby
The most important things to for creditors take in consideration while reviewing your credit application is the risk involved in granting you credit. They try to predict whether you will repay your ...
Continue reading "How Do Creditors Make the Decision on How to Grant Credit?" »
Posted on Jul 19, 2010 By Jacoby & Jacoby
Before your divorce, when you and your spouse first obtained credit together, you both sign a contact agreeing to pay your bills. A divorce agreement does not cancel that contract. When you divorce ...
Continue reading "How Does Divorce Affect a Person’s Credit?" »
Posted on Jul 15, 2010 By Jacoby & Jacoby
A home equity line of credit (HELOC) is based on the amount of equity you have in your home. Equity is determined by your home's value less the amount left on your mortgage. If your bank freezes your ...
Continue reading "When Can a Bank Freeze a Home Equity Line of Credit Account?" »
Posted on Jul 12, 2010 By Jacoby & Jacoby
If you have never had any credit, the best way to build it is to get a few credit cards . Pick at least two from the major lenders (Visa, Mastercard, etc.) and make sure they have no annual fees and a ...
Continue reading "How Do I Start Building Credit from Start? " »
Posted on Jul 8, 2010 By Jacoby & Jacoby
The most critical thing is to work the payment into your budget. You are most likely going to finance or lease the vehicle, so you will need to make sure you can pay for it every month. If you don't ...
Continue reading "How Can I Determine How Much I Can Afford to Spend on a Car?" »
Posted on Jul 7, 2010 By Jacoby & Jacoby
Janet Bodnar, Deputy Editor of Kiplinger’s Personal Finance discusses what debts can be cancelled with bankruptcy.
Continue reading "Watch Me Wednesday: What Debts Can Bankruptcy Cancel?" »
Posted on Jul 5, 2010 By Jacoby & Jacoby
One of the requirements of the bankruptcy law that went into effect in 2005 is that all individual debtors filing a bankruptcy case must complete a credit-counseling course by a certified company ...
Continue reading "What are the Current Credit Counseling Requirements in Bankruptcy?" »
Posted on Jun 29, 2010 By Jacoby & Jacoby
Gather information regarding the tenant who was evicted. You will need the full name, Social Security number and address. Additional information such as a driver's license number is also helpful. The ...
Continue reading "How Do I Add Eviction to a Tenant Credit Report? " »
Posted on Jun 25, 2010 By Jacoby & Jacoby
An automatic stay gives the debtor protection from his creditors, and brings all of the debtor's assets and creditors into the same forum, the bankruptcy court, where the rights of all involved can be ...
Continue reading "What is a Bankruptcy Stay?" »
Posted on Jun 22, 2010 By Jacoby & Jacoby
How the bankruptcy Trustee treats an inheritance in your case depends on when you became entitled to receive it and what type of bankruptcy you are filing. If you've filed for Chapter 7 bankruptcy, ...
Continue reading "How is an Inheritance Treated in a Bankruptcy Case?" »
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