What is a check cashing loan? A check cashing loan is a short-term, high interest loan that is secured by a post-dated check. More and more people are turning to check cashing loans as a means to stay afloat with their bills between paychecks. Because these loans are issued at such a high interest rate [...]
Read moreShould you or Shouldn’t you tell? In general telling your creditors you are filing for bankruptcy should help you. Once you have retained an attorney you can tell your creditors that you have done so and that they need to contact your attorney regarding any debt you may own. The Fair Debt Collections Practices Act [...]
Read moreHow to protect your identity from being stolen The easiest way to protect your identity from being stolen is to continuously monitor your credit and protect important information such as account numbers, creditor information, and your social security number. Many credit monitoring companies offer low monthly fees to pull your credit at any time and [...]
Read moreWhat is the Means Test? The means test is a six months average of the Debtor’s and spouse’s income, if applicable, divided by six and then multiplied by twelve to compute a hypothetical income over a year. That income will be used to determine whether there is a presumption of abuse when filing a Chapter 7. [...]
Read moreWhat is a reaffirmation agreement? A reaffirmation agreement is an agreement whereby a debtor filing Chapter 7 bankruptcy makes a new promise to pay a pre-petition debt. Since all of a petitioner’s unsecured debt is discharged in a Chapter 7 and a petitioner may surrender secured debt in a Chapter 7 bankruptcy the only way [...]
Read moreAre you immediately off the hook for damages? Probably not. Until the deed to the property is transferred from your name to the bank you could be liable for potential damages that arise on the property that you are surrendering in a Chapter 7. If at all possible it is advisable to stay in your [...]
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