When you obtain a loan, in most cases the lender does not want to just give you the money, they want to make sure that you have some sort of incentive to make sure you make your payments. What better incentive is there than taking away your property if you do not pay? Therefore, creditors … Read more
One of the most frequent calls we get at our office is, “What does it mean when it says, “charge off”? Do I need to list this on my list of creditor’s?” The answer is always “yes”! As you are perfectly aware, once you owe a debt, the creditor will relentlessly try to collect the … Read more
Due to the recession our economy has faced, many small business owners find themselves sitting in our office discussing the possibility of filing for bankruptcy. Legitimately, one of their main questions is how to protect their assets. One of the major assets of most small business owners is their “tools”. Tools can range from hand … Read more
There is a saying that always helps me remember the difference between gross and net income: it’s gross to see how much you would be bringing home before taxes. Gross income is what you make before taxes and what you claim as income on your tax returns. Net income is what you actual bring home … Read more
When you are filling out your paperwork, you will notice you will be asked to list down all of your personal property. This personal property will contain all assets you may have; including homes, cars, cash, financial accounts, furniture, clothing, jewelry and more. Determining the value of each is different. Most cases, you will use … Read more
The phone keeps ringing. Letters pile up. Maybe a paycheck got smaller because of a garnishment, or you got a notice about a foreclosure sale. If you are living with this kind of pressure, you may have heard that filing bankruptcy can make it stop. That protection has a name. It is called the automatic … Read more
A Notice of Rights to Have Exemptions Designated is a fancy way of the creditor letting you know that your property is going to be taken from you. As mentioned in another blog post, after the creditor serves you with a lawsuit you have 30 days to provide a written response, also called an answer, … Read more
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