Dealing with financial debt is one of the most difficult challenges married couples can face. Issues like joint bank accounts, credit scores, and differing approaches to finances can create friction in otherwise healthy relationships. Money problems can also bring an onslaught of questions: What are our debt relief options? Can one spouse file bankruptcy without the other? How will this affect our individual credit scores and our financial future together? The good news is, bankruptcy doesn’t carry the same stigma it once did. For many, it can provide an appealing solution to an otherwise grim situation. If you are facing mounting debts, a Jackson CA bankruptcy attorney can explain your options, both as individuals and as a couple. Contact the Law Office of Diane Anderson to learn more. What Are Our Bankruptcy Options As A Couple? When it comes to exploring bankruptcy options, a key question many married couples have is whether to file as a couple or as individuals. Filing Jointly As a couple, you can choose to file a joint…Read More
If you are facing mounting medical bills, struggling under large amounts of debt, or trying to keep your finances afloat after a long period of unemployment, it may be very tempting to consider filing bankruptcy yourself. But is that a good idea? Trying to navigate the bankruptcy process on your own can quickly become a waste of time and money. Instead of alleviating the stress you’re already dealing with, it can intensify it, as it’s easy to make costly mistakes. Having an experienced Jackson CA attorney in your corner ensures that your filing goes as smoothly and quickly as possible. At the Law Office of Diane Anderson, we understand that dealing with debt can be emotionally exhausting. We strive to work with clients in a compassionate and professional way. Contact us today to learn more about how we can help. What Are Some Mistakes You Could Make When Filing Bankruptcy Yourself? Bankruptcy filings can be complicated, and there are plenty of pitfalls you could fall into when you don’t…Read More
After you’ve completed your bankruptcy, it’s important to continue the positive momentum you’ve started by taking steps to rebuild your finances. And the first place to start is your credit. Although bankruptcy may not hurt your credit score as much as you anticipated, it’s likely that you took a hit. And it will be listed on your credit report for seven to 10 years, depending on which type you filed, which can impact your credit opportunities. Don’t despair, though. You can start rebuilding credit after bankruptcy with the tips discussed below. For more information about bankruptcy and how it can help, speak to a Jackson CA bankruptcy attorney at the Law Office of Diane Anderson today. How To Rebuild Credit After Bankruptcy Some of the first steps you should take after bankruptcy include the following: Creating a budget. This will keep you on track and make sure you are not spending too much. Building an emergency fund. You should have enough money to cover a few months’ worth of bills in…Read More
How Often Can You File Bankruptcy? The answer varies, depending on what type of bankruptcy you want to file and what type you have filed in the past. You will also need to review the timing of your past bankruptcy and how it was resolved. That’s because what really matters is not when you last filed bankruptcy, but when you last received a bankruptcy discharge. If you have filed bankruptcy in the past, a Jacksonville bankruptcy attorney can help you determine whether you are eligible to file another bankruptcy. Call The Law Offices of Diane Anderson today to learn more. Obtaining A Bankruptcy Discharge Typically, the goal with bankruptcy is to obtain a discharge and eliminate most of your debt. In cases involving personal bankruptcies, most debt is discharged after a limited amount is paid to creditors. This allows the individual to pay what they are able and discharge the rest. Once you obtain a bankruptcy discharge, you may be debt-free. However, medical issues, unemployment, divorce, and other…Read More
If you are behind on your car payments, you may be searching for ways to avoid repossession. But when can a bank repossess someone’s car? And what can you do about it? Below, we dispel some common car repossession myths, and explain what you can do to protect your vehicle. To learn more about bankruptcy and car repo, call The Law Offices of Diane Anderson to speak to a Jackson CA bankruptcy attorney today. Myths About Car Repossession Even if you’re not behind on your payments, you should be familiar with your rights. Here are some common myths associated with car repossession: Myth #1: Financial companies and banks must wait until you are three months or more behind on payments to repossess your car. When can a bank repossess someone’s car? In reality, the bank or financial lender can repossess your vehicle if you are even one day late with a payment. It’s unlikely that the bank will send a repo man if you are a few days late; however, they…Read More
If you are considering Chapter 7 bankruptcy or Chapter 13 bankruptcy, the automatic stay may be a compelling reason to file. But what is an automatic stay? And how can it protect you if you are in bankruptcy proceedings? Contact The Law Office of Diane Anderson today to learn more. What Is An Automatic Stay? Upon filing bankruptcy, the court will issue an order that will immediately stop most legal actions being taken against you and your property. This is called an automatic stay. An automatic stay may be issued to address an array of legal actions that are being taken against you, including anything undertaken by creditors, collection agencies, and the government. Anyone you owe money to may be put on hold while your bankruptcy runs its course. The automatic stay can stop the following: Credit card companies Car lenders Mortgage lenders Collection agencies Medical bill collectors Government entities Utility companies Landlords What Can An Automatic Stay Prevent? An automatic stay will affect the following situations: Disconnections of Utilities…Read More
Filing for bankruptcy can halt any creditor action against you. But can bankruptcy stop foreclosure? While it can stall the process, it can’t stall it forever. There are, however, ways that that bankruptcy can help you protect your home. If you are facing foreclosure, our Jacksonville bankruptcy attorney can help. Contact the Law Office of Diane Anderson to learn more. What Is The Foreclosure Process? Banks can’t simply kick you to the curb as soon as you miss a payment. Generally, missed payments will have to start piling up before they begin the foreclosure process. But for those who are falling behind on numerous bills at once, the entire situation can be overwhelming. Indeed, you will have some serious choices that you will have to make in the near future. One of those will be considering bankruptcy. Let’s start with the basics. The bank or lender who supplied you with your mortgage has an automatic lien on the property. That means if you do not continue to make…Read More
You’re drowning in debt and in desperate need for relief from your hounding creditors. You’re considering bankruptcy, and the protections it has to offer. But which chapter should you file? Below, we discuss the advantages and disadvantages of filing Chapter 7 bankruptcy vs Chapter 13 bankruptcy. Why File For Bankruptcy? When deciding to file for bankruptcy under Chapter 7 vs Chapter 13, it is important to understand that either chapter could help you manage your debts, such as the following: Home mortgage Car loans Tax debt Student loan debt Judgments from lawsuits Other secured and unsecured debts What Is Chapter 7 Bankruptcy? Chapter 7 is known as the “liquidation bankruptcy.” It permits you to discharge most of your debts by liquidating your assets. To be eligible for Chapter 7, you must pass the “means test.” Chapter 7 is typically ideal for people with lower income (little to no disposable income) and with mostly consumer and non-secured debts. If you have a secured debt, such as car or home loan, there is…Read More
When you’re dealing with a difficult financial situation, the last thing you want to attend is a meeting of creditors. However, everyone who files bankruptcy must attend a 341 hearing. During this time, your attorney will be by your side and help you answer questions about your bankruptcy. If you’re considering filing bankruptcy or have an upcoming meeting of creditors, contact The Law Offices of Diane Anderson today at (209) 729-7477. What Is A Meeting Of Creditors? A meeting of creditors is often called a “341 hearing” because it is required by section 341 of the U.S. Bankruptcy Code. Bankruptcy involves several different hearings, including a 341 meeting of creditors. During this meeting, you will sit at a table with your bankruptcy trustee and any creditors who choose to attend. You will discuss the information you provided in your bankruptcy paperwork and answer any questions from the trustee. Who Will Attend? The meeting of creditors is intended to allow creditors to face you prior to court. However,…Read More
If you’re swimming in debt and are considering a business bankruptcy, we can help. When you start a business, you have high expectations for success. However, some businesses face bumps in the road along the way. You may feel like you have little control over your income and expenses right now. It’s important to seek the help of a compassionate business bankruptcy attorney in California like Diane Anderson. Call us today at (209) 729-7477 for a free consultation. What Is Business Bankruptcy? Small businesses face financial issues frequently; however, you do not have to see it as a failure. Business bankruptcy may give you the relief that you need to move forward with your life. It can be difficult to determine if it’s the right time to file bankruptcy or if you should continue to seek other debt management options. If you have questions, it’s best to consult with a business bankruptcy lawyer who can present your legal options and make sure your best interests are protected.…Read More