San Jose Bankruptcy Lawyer Blog

A San Jose bankruptcy attorney mentions an item you need to complete once you file bankruptcy in San Jose:

After your bankruptcy case is filed, it is required that you take and complete an approved course in personal finances. This course, often referred to as a debtor education course, will take approximately two hours to complete.

Most times, you are able to take the financial counseling course online (with video), in-person at a designated credit counseling location, or over the telephone. Your bankruptcy attorney can give you a list of organizations that provide approved courses. Some bankruptcy attorney offices, such as Sagaria Law, have computer stations set up at their location so you can easily access this very necessary step to complete your bankruptcy.

It should be noted here that there is also another counseling course that is required prior to filing bankruptcy called a credit counseling course. It is also easily accessible if you are working with a capable bankruptcy firm.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankruptcy lawyer lets bankruptcy filers know if they have to go to court....

In most bankruptcy cases, you only have to go to a proceeding called the “meeting of creditors” to meet with the bankruptcy trustee and any creditor who chooses to come. Most of the time, this meeting will be a short and simple procedure where you are asked a few questions about your bankruptcy forms and your financial situation.

Occasionally, if complications arise, or if you choose to dispute a debt, you may have to appear before a judge at a hearing. If you need to go to court, you will receive notice of the court date and time from the court and/or from your attorney.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankrutpcy lawyer chats on Chapter 7 and business

Protection under Chapter 7 of the U.S. Bankruptcy Code is available to individuals, sole proprietorships, ‘dbas’, partnerships, and corporations. It is not uncommon for a business to file for Chapter 7 bankruptcy in order to alleviate its debts and financial burdens. Without the protection of Chapter 7 bankruptcy to businesses, less and less small business owners would be less likely to open their doors and take a chance.

Most people think that only Chapter 11 or Chapter 13 bankrupctcies are available to businesses, but they are mistaken. It is highly unlikely that a small business can survive a Chapter 7 and just get back up and running. It will take some time and likely some outside investment/help in order for a business to get up and running following a Chapter 7.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankrutpcy attorney suggests 5 tips to help with student loan debt

Student loan debt can be some of the most difficult debt to repay. However, student loan debt is known as “good debt.” Student loan debt is debt incurred in order to further or better one’s financial situation. For the most part, student loan debt is not dischargeable in any chapter of bankruptcy.

The first tip with student loan debt is to make timely payments. This is essential since most student loan debt is backed by government money. The second tip on student loan debt is to take out only that which you need in order to get through school. A third tip on student loan debt is to use your student debt in place of credit cards. The interest rate is often times lower on a student loan and you don’t have to repay the balance until you finish school. A fourth tip on student loan debt is to find a co-signor. A co-signor such as parents or spouse will likely lower the interest rate of the loan. And lastly, a fifth tip on student loan debt would be to stay in school, regardless of how minimal it is. This way, you can continue to defer payments until you are established in a well paying job.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankruptcy attorney blogs on the Question: Can I file bankruptcy while unemployed?

Answer: Yes. A debtor can file bankruptcy while unemployed. Generally, a debtor must provide six months worth of pay stubs when they submit their petition. If, however, a debtor is unemployed, they must simply file a declaration of unemployment with the court. Thus, a debtor can file bankruptcy while unemployed.

While a debtor can file bankruptcy while unemployed, if the debtor has no means of income a debtor probably will not be able to file a "feasible" Ch. 13 plan. An experienced attorney can provide guidance in these situations.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankruptcy lawyer Bankruptcy & Consumer Debt Counseling

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 completely transformed bankruptcy. One of the major changes made by the BAPCA was to implement a mandatory pre-filing consumer debt counseling course. The BAPCA also created a mandatory post-filing, pre-discharge consumer debt education course.

The pre-filing consumer debt counseling course is taken with an approved credit counseling organization and includes an overall evaluation of a debtor’s current monthly income and expenditures. The consumer debt counseling course attempts to help the individual filing for bankruptcy create a monthly budget and cut out excess spending. The consumer debt counseling course can be taken either online or over the telephone and lasts approximately one hour. The credit counseling certificate is valid for 180 days from the date the course is taken. The credit counseling organization will then issue a certificate of completion which is filed with the court.

The post-filing, pre-discharge course is also provided online and over the telephone. This course generally takes more time than the pre-filing course and includes information on creating and implementing a budget, managing one’s money post-discharge, and using credit wisely and effectively.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankruptcy attorney comments on the Means Test And Chapter 7

The 2005 changes and amendments to Section 11 of the United States Code (U.S.C.), the Section that deals with bankruptcy, were designed to prevent alleged abuse of bankruptcy and to require that debtors pay for those debts which they knowingly incurred. The legislation made it much more difficult for the average American to file for, and eliminate, their debt. It appears that the legislators want to a make Chapter 7 bankruptcy discharge tougher to obtain and push debtors into a Chapter 13 repayment plan.

One of the major changes/additions in the 2005 legislation was creating the “means test.” This test is a two part test which takes into account the disposable income a debtor brings in after his/her living expenses are taken into account. Obviously, those who are deemed to have too much monthly excess income will not be allowed a Chapter 7 discharge and will be forced to either file under Chapter 13, or not file at all. Under the old laws, judges and trustees had more discretion in their decisions and could judge each case by its own unique circumstances.

A formula was devised which exempted “survival” expenses, such as food and mortgage, and looked at the excess income. Should said monthly income exceed twenty-five percent (25%) of their unsecured nonpriority debt (mainly credit and department store cards, medical bills, and personal loans), the debtor may not file for Chapter 7 bankruptcy. The second part of the test measures the debtor’s income to the state’s median income and if the debtor’s families combined gross income is greater than the median income for that state, the debtor may need to file for Chapter 13 bankruptcy.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankruptcy attorney explains how to rebuild your credit after bankruptcy:

While a bankruptcy action will be reported on your credit report for up to 10 ears, you can start rebuilding your credit immediately. One of the most important factors in your credit is your debt-to-income ratio. If you have more outstanding debt than you have the ability to pay, your credit is probably not very good. Filing for bankruptcy will eliminate most of your debts and will reduce your debt-to-income ratio – likely to improve your credit in the long run.

Once you have filed for bankruptcy, you will not be able to file again for 8 years. This is why there are many lenders that will actively solicit business from people who have filed for bankruptcy. To rebuild your credit, you may need to obtain a credit card. You can demonstrate to lenders that you are determined to slowly rebuild your credit by managing your money and credit card wisely. Many people will be able to finance for cars as well as homes within a year or two after discharge, although the interest rate may be higher than average.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankruptcy lawyer helps with "I Need Help With My Loan Modification, CA resident!!!"

What is a loan modification in CA? A loan modification in CA is when your lender agrees to modify the terms of the mortgage in order for you to afford your monthly payments and stop foreclosures. A loan modification in CA often requires the borrower to be in arrears on their monthly mortgage payments. When attempting a loan modification in CA, since you usually must allow your mortgage to default, it is wise to place each monthly mortgage payment into a savings account should the modification not go through. That way, your loan modification failure can be easily cured and you will not lose your home. When considering a loan modification in CA, lenders often look at the amount owed, the equity in the house (if any), and the borrower’s ability to continue to make monthly payments. Though not often obtained, a loan modification in CA help to alleviate California’s number one ranking on the foreclosure charts.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

A San Jose bankruptcy lawyer has Six Tips For Bankruptcy Chapter 7 ...

Here are six tips for filing bankruptcy under Chapter 7. The first tip for filing bankruptcy under Chapter 7 is to make sure that you are current on your home mortgage. If you are not current on your home mortgage and intend on keeping your home, the lender will attempt to foreclose on the house. The second tip for filing bankruptcy under Chapter 7 is to stop paying your credit card bills and all other unsecured bills. These debts will be discharged regardless of how far behind you are on payments.

The third tip for filing bankruptcy under Chapter 7 is to make sure that all your taxes are filed. Despite rumors, taxes may be dischargeable under a Chapter 7 bankruptcy. The fourth tip for filing bankruptcy under Chapter 7 is to place all your exempt money in certain investments, including fully funding your IRA, paying off arrears, or pre-paying any property taxes or homeowner’s dues.

The fifth tip for filing bankruptcy under Chapter 7 is to not take any overtime or bonuses within six months of filing bankruptcy. The means test averages your last six months income, regardless of irregular bonuses or pay raises. Lastly, the most important tip for filing bankruptcy under Chapter 7 is to hire an attorney. Many people feel that filing for Chapter 7 bankruptcy is easy and that they can do it when in reality it is very difficult and a small mistake can lead to huge repercussions.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!