About Me

Understanding Bankruptcy Cases and Outcomes

Hello, my name is Quianna Ridalgo. I enjoy talking to others about bankruptcy case outcomes. Court officials handle each type of debt, from credit cards to home loans, differently. Debtors must carefully prepare themselves for the court proceedings to cope with the outcome appropriately. The way creditors handle the discharged debt also interests me. Bankruptcy attorneys assist their clients with each step of the bankruptcy process from filing paperwork to meeting with creditors. Debtors and creditors both receive counsel that helps them move forward appropriately at every point in the case. The information I share on my site may help you learn about everyone's role in these complex cases. Feel free to come by anytime to learn more information about this interesting subject.

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Understanding Bankruptcy Cases and Outcomes

    Bankruptcy Filing Precautions

    Bankruptcy is a major undertaking, and care should be used as you approach your filing. The actions you take in the months preceding and directly following a chapter 7 filing can influence the outcome of your case in a dramatic fashion. Read on for some precautionary measures to take that can mean a smoother and more positive bankruptcy process. About the Idea of Fraud Most people who file for bankruptcy have no intention of committing a fraudulent act, but it happens nevertheless.

    What If I Forget To List A Creditor During Bankruptcy?

    When filing for Chapter 7 bankruptcy, you are expected to list all of your creditors. These creditors will be the individuals whose debts will be discharged. However, if you forget to list a creditor during Chapter 7, your debt for the creditor will not be discharged, except under certain circumstances.  A bankruptcy trustee will be appointed to sell any of your non-exempt property. This will be to benefit the creditors who will receive a portion of the sales.

    3 Reasons You Need To Hire A Bankruptcy Lawyer

    When your financial situation gets to the point where bills and expenses continue to mount and you can no longer keep up with payments, life can be very stressful. While it is a difficult choice to make, in many cases, bankruptcy can be your best option when you have accrued more debt than you can afford to repay. However, you should not make the mistake of attempting to file for bankruptcy on your own.

    Correction Bankruptcy Misinformation You Might Assume Is True

    While individuals often assume that a person that has incurred excessive debts has been irresponsible, there are many instances where a person may find these debts can be unavoidable. This is often the case when a person suffers an unexpected medical expense, loss of employment or other hardships. Myth: Bankruptcy Will Clear Away All Of Your Debt There is an assumption that a bankruptcy filing will be able to completely wipe away all of the debt that a person has incurred.

    Chapter 13 Bankruptcy & Avoiding Foreclosure: Faqs

    When you initially took on your mortgage, you had every intention of making your monthly payments as a responsible borrower. Somewhere along the lines, something happened to put you behind, and you can no longer afford to pay back your past due payments and keep your mortgage current. Unfortunately, too many missed payments means your home could go into foreclosure, which basically means the financing agency begins the process of recouping their loss and you will have to leave your home.

    Tips For Overcoming A Financial Bind

    Spending money is something that is necessary in life as it is needed in order to acquire many of the things that are needed to survive. However, spending money in a careless manner and purchasing items on credit often leads to a financial bind that is difficult to get out of. Not only does getting out of debt become a problem, but you must also deal with bill collectors constantly calling to demand money.

    Are You In The Military? Know How This Can Benefit You During A Bankruptcy

    If you're a current member of the military or a veteran, you may be well aware that there are benefits you can receive once you come back home. Some of these benefits are exclusive to military members, and regular people cannot even get them if they wanted to. This includes benefits that are a part of bankruptcy filings. Be aware of what advantages you can have if you need to file for bankruptcy in the future.

    Things To Avoid Before Filing For Bankruptcy

    If you are in desperate need of financial relief and have decided to use bankruptcy, there are several important things you should avoid doing before you file. If you do the wrong things, it could harm your case, and here are some of the top things you should try to avoid doing before you file. Racking Up New Debt Some people will intentionally use their credit cards to buy things they want just before filing.