Blog Posts in June, 2012

City of Stockton About to File for Bankruptcy

Stockton, California may be the largest U.S. cities to file for bankruptcy. The city is expecting to file a Chapter 9 bankruptcy as soon as this Friday June 29, 2012. At one point, the city benefited ...
Continue reading "City of Stockton About to File for Bankruptcy" »

What Are the Downfalls of Cosigning a Loan for Someone?

When you are asked to cosign for someone, you are being asked to take a risk that a professional lender would not take. If the primary borrower met the criteria for the loan, the lender would not have ...
Continue reading "What Are the Downfalls of Cosigning a Loan for Someone?" »

What To Do When Being Sued By A Credit Card Company?

Once you have been given notice that you are being sued, you will need to file a response to each claim being made by your credit card company. This response (usually called the "answer") ...
Continue reading "What To Do When Being Sued By A Credit Card Company?" »

Why Should People Avoid Pay Day Loans?

Payday loans, cash advances, check advances, or paycheck advances are short-term loans offered at a high interest rate. These are considered one of the worst financial options for many reasons such ...
Continue reading "Why Should People Avoid Pay Day Loans?" »

How do I rebuild my credit after bankruptcy/foreclosure/short sale?

Depending on the nature of the bankruptcy, foreclosure or short sale the time to rebuild credit may vary, but the basic methods to a renewed credit score is not the impossible task as many people ...
Continue reading "How do I rebuild my credit after bankruptcy/foreclosure/short sale?" »

How Long Does a Chapter 7 Bankruptcy Take?

The amount of time to file a bankruptcy case depends on the situation of each case. Once the Chapter 7 bankruptcy is filed, a hearing (known as the 341 Meeting of the Creditors) will take place within ...
Continue reading "How Long Does a Chapter 7 Bankruptcy Take?" »

Can I add new creditors to a Chapter 13 Bankruptcy after the plan was confirmed?

Yes. It is not too late to include omitted creditors into your original schedules so long as the debt was incurred prior to the filing of your bankruptcy. In order to add new creditors into the ...
Continue reading "Can I add new creditors to a Chapter 13 Bankruptcy after the plan was confirmed?" »

Misconceptions About Bankruptcy

Today, many people have a misunderstanding of bankruptcy. Here are some of the misconceptions with bankruptcy: People filing for bankruptcy are financially irresponsible. This is not the case for most ...
Continue reading "Misconceptions About Bankruptcy" »

Orange County Bankruptcies Down for April 2012

Central District of California bankruptcy filings were down for April 2012. According to the U.S. Bankruptcy Court, bankruptcy filing has decreased 24.5% compared to April 2011. The greatest decline ...
Continue reading "Orange County Bankruptcies Down for April 2012" »