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Chapter 13 Bankruptcy
Litigation Attorney serving Brevard County
Reestablishing their good credit score is a top priority for most debtors. One way to do just that is by paying your current obligations on time: your mortgage, your car note and any other secured debts that you may have. A question we are often asked by debtors is if they can use their credit...
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Bankruptcy Happens Everywhere | Melbourne Attorney
The Chapter 13 bankruptcy plan essentially puts you on an allowance for a period of time, to help you catch up on your bills, start rebuilding your credit score and get on with your life free of creditor harassment. The Plan A Chapter 13 bankruptcy is sometimes referred to as the “wage-earner plan” or “repayment...
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Foreclosure Lawyer Brevard County
Preventing Home Foreclosure A previous post discussed some of the general aspects of a Chapter 13 Bankruptcy plan. For a homeowner who is delinquent their mortgage, the amount to be repaid may be substantially lower than the amount the moneylender claims that you owe. Mortgage Company Reasonableness Most mortgage companies are upfront and evenhanded when...
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Debt Relief Attorney in Melbourne, Florida
Many Americans simply have more debt than they can afford to repay. Despite what you hear, it is rarely due to irresponsibility.  No one sets out to accumulate $7,000 in credit card debt, but a temporary job loss, sudden illness or other financial emergency can quickly drain savings and force people to charge normal living expenses....
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What happens to a HELOC in Bankruptcy? | Debt Defense Brevard
A Home Equity Line of Credit is a secured loan that acts like an unsecured credit card. Many people took out these “second mortgages” on their homes as a way to convert the home equity into cash while staying in the residence. What happens to your HELOC mainly depends on the Chapter you file. HELOC...
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Foreclosure Defense for Homeowners in the Space Coast
According to a published report, the number of delinquent mortgages decreased by 16% between February and March 2014 to reach their lowest level since October 2007. In a related report, Black Knight Financial claims that only 10 percent of homeowners are underwater on their loans, as compared with 34 percent in 2010. The financial analysts...
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General Motors is trying to use its Chapter 11 Bankruptcy as a shield against liability lawsuits stemming from faulty ignition switches. The automaker claims that it emerged from bankruptcy as “the new GM” and as a different corporate entity. According to a court filing in New York, the new GM’s recall of the ignition switches...
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Bankruptcy hurts your credit score. Your credit score is how lender’s determine whether you are going to be a good customer or not, and bankruptcy means many of your creditors did not get what you agreed to pay them. Rules for borrowing money after filing bankruptcy Many people believe that they are not allowed to...
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Even in Dundee, Scotland, people turn to bankruptcy for a financial fresh start. Scottish debtors have the option of liquidation or a repayment trust, the equivalent of a Chapter 7 and Chapter 13 bankruptcy. As of April 2014 78 people, including noted soccer player Craig Beattie, have declared bankruptcy in Dundee. The debtors cover a...
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In April 2014, Detroit’s emergency manager stated that he hoped the city would emerge from bankruptcy later this year. Detroit Bankruptcy In July 2013, the City of Detroit filed for bankruptcy protection under Chapter 9; it was the largest such filing in the country’s history. Although emergency manager Kevin Orr had hoped that the process...
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