I’m sure you never thought this would be the case but this is the easiest step of them all. If you’ve followed the three steps before this you should have cleaned up your credit report, spent a year laying the foundation for your new credit with a secured credit card and now you should have obtained a reasonable unsecured credit card.
After you’ve spent time laying the foundation for your new credit by using a secured credit card you will want to begin looking for an unsecured credit card. An unsecured credit card is a card where you do not put up collateral (cash, automobiles, etc.) as an assurance that you will pay. We typically recommend that you use a secured credit card for at least one year before moving on to an unsecured card.
After your credit report is accurate you are ready to look for a secured credit card. A secured credit card is a credit card where a balance of money has already been posted. For example, most secured credit cards will require you to put up anywhere between $300 and $500. After doing this, you have a credit limit of the amount that you put up. I know, its not what you are used to in your pre-bankruptcy days but that’s okay. We are in a rebuilding period now.
Anyone who tells you that bankruptcy won’t hurt your credit is lying to you. Bankruptcy will hurt your credit initially. However, if you are interested in filing bankruptcy your credit is probably already damaged quite a bit or is well on its way to being damaged. One of the nice things about bankruptcy is it allows you to hit the “refresh” button to start over. The question on whether a bankruptcy will hurt my credit is an easy one to answer. Yes. The more important question we should really be asking is: Can you rebuild your credit after filing bankruptcy and, if so, how? Yes, you can rebuild your credit after filing bankruptcy.
Today CNN is running an eye opening article about the tactics and strategies used by debt collectors or creditors. The article covers 10 different people who used to call and harass people for a living. They unveil some of the extreme tactics that creditors use to get money from debtors. A common theme that is seen throughout the ten different stories is the fact that these people make their money by collecting money.
Many of these creditors are on commission and the more money they bring in the more money they make for a living. Is this the best way to ethically collect debt? We too often see that creditors will bend or even break consumer protection laws simply to make a little more money. If they aren’t being commissioned then maybe there would be more civility in the debt collection profession. Regardless, this is a great article by CNN – check it out. The article is called Confessions of Former Debt Collectors.
Due to unforeseen circumstances, sometimes a person in a Chapter 13 bankruptcy will need to take out a new loan to get a car. This can happen if, for example, the car that you were driving when you filed the bankruptcy is in an accident or breaks down beyond repair.
You can buy a car while you’re in a Chapter 13 Bankruptcy. However, you must obtain approval from your Chapter 13 Trustee in order to finance a car while you’re bankruptcy. The Chapter 13 Trustee can generally approve a credit request for up to $15,000.00.
It’s important that you contact your attorney so he or she can advise you how to proceed. You will need to find a car you want to purchase and obtain the terms of the loan from the lender/dealership. It will be necessary for your attorney to update your monthly income and expenses prior to submitting the request for credit authorization to the Trustee. You need to be able to show the Trustee that you can afford your Chapter 13 plan payment and a new car payment.
Your attorney will submit a credit authorization request form to the Trustee, with the terms of the loan, including the amount of the loan, the interest rate and the monthly payment. It can take up to ten (10) days for the Trustee to approve the request. Once you have final approval from the Trustee, the car can be purchased.
Nursing home abuse and neglect is a terrible act against our elderly loved ones. If a loved one has been injured by the abuse or neglect of a nursing home facility then they have three years to file a lawsuit against the facility. If the neglect or abuse has resulted in death then a lawsuit would need to be filed within two years to meet the Statute of Limitations.
A nursing home abuse and neglect case is a type of medical malpractice case. These types of cases are known as a complex litigation case. The usual timeline from the date of filing a lawsuit, also known as the complaint, to settlement or trial is usually anywhere from one to three years.
You are probably asking why so long? On television programs the case goes to court within one hour. Of course, this is television, not real life.
In a real case, the attorney must first meet with the family and investigate the nursing home case. A nursing home will not allow an attorney to question their staff, before filing a lawsuit, to determine if there is a legitimate case. Therefore, the attorney must first examine the medical records. It may take several weeks to obtain these medical records. The attorney then begins to piece together what happened at the nursing home.
Next, if the attorney believes there are grounds for a medical malpractice case, under North Carolina law, they must have these records reviewed by an expert doctor and/or nurse. This will usually take at least 30 days for the expert to review the records. As you can see, we are already at about two months of time elapsed and the lawsuit has not even been filed.
If the expert doctor and/or nurse believe the nursing home staff has violated the “standard of care”, the expert will render an opinion to the attorney. At this time the attorney begins the legal process of developing a complaint or lawsuit. Depending on the complexity of the case, the Complaint that has to be drafted for the lawsuit to be filed may take several weeks.
Eventually the attorney files the lawsuit at the courthouse. The deputy sheriff must then serve the lawsuit on the nursing home. Large corporate chains own most nursing homes making it difficult, at times, to determine the appropriate party to be served. After being served, the nursing home retains defense counsel. The defense counsel usually files an extension to “answer” the lawsuit. This usually takes about another 60 days.
At this time the discovery process begins. This is when expert witnesses, such as doctors and nurses, and the staff of the nursing home are questioned under oath at what is known as a deposition. Again, depending upon the complexity of the case this could take a year to complete. By now we are up to least 18 months since the family first met with the attorney.
Eventually the court will schedule mediation. Mediation is an attempt to settle the case before trial. This will usually take place several months after the discovery process ends. At mediation, both the plaintiff and the defendant meet with a mediator to try to resolve the case without the time and expense of a trial. Many times mediation is successful and the case is settled. Sometimes mediation is unsuccessful and the case would then proceed to trial several months later. A typical trial may last anywhere from one to four weeks.
As you can see, the wheels of justice roll slowly. We have an imperfect and often times slow justice system but there is no doubt it is the best in the world. Knowing the timeline of a typical nursing home abuse case is important when determining how you want to move forward to obtain the justice your loved one deserves.
These are common questions that many people have about bankruptcy. In an effort to provide you with information we have provided these frequent questions. However, it is important to realize that each state has different rules and these answers are not meant to be legal advice. Contact a bankruptcy attorney to learn more.
Although, it’s important to keep statements that you receive in the mail regarding your debts, you should also consider obtaining a credit report.
For many people, it is difficult to remember original creditors, collections agencies, amounts owed, and so on from years past. A credit report is a great way to visually see all of your debts listed out for you, especially if you did not keep statements. Our recommendation would be to look at your statements first, then back it up with a credit report. For many people, this will cover your bases in regards to who you owe, but remember this does not guarantee to be all of your creditors. This is why it’s important to keep up with your statements and also view your free credit report yearly. By doing this, it allows you to see whom you owe, if it’s accurate, and when and where the debt was incurred.
You are entitled to a free credit report every 12 months from www.AnnualCreditReport.com. It is one of the only legitimately free places to obtain a credit report. It will not, however, give you your actual credit score. Use this website, if you have not already done so in the past 12 months, to view your debts and names of your creditors. We recommend checking this annually so you can be sure the creditors on your report are accurate. When filing bankruptcy, it is essential that all of your creditors are listed, so be sure to use both statements and a credit report to back up what you already know regarding your debt.
It’s also a good idea to be sure you get your free credit report again a few months after you file bankruptcy. It will help you rebuild your credit after bankruptcy.
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Winston-Salem: (336) 245-4294
