What You Need to Know About Bankruptcy

When the piles of debt seem to crush you, the thought of bankruptcy likely crosses your mind as an alternative to the position you are in. A bankruptcy attorney can provide the assistance you need to navigate this difficult financial time. Here’s what you need to know about bankruptcy.

Explore Options

Bankruptcy is not the only option available to you if you are pressured by debt and creditors. A good attorney should help you navigate all available options not just bankruptcy. Debt reduction and working with current creditors may be better solutions for you than bankruptcy. There are pros and cons with each one and are worth discussing with your attorney.

Proper Filing

Not hiring an attorney experienced in bankruptcy could lead to you not qualifying based on improper filing with the court. With the different types of bankruptcy available, you need to choose the right one for your situation. An attorney knows what to file and when. They can help you gather your financial information and file the documents with the courts.

Bankruptcy Types

Not all bankruptcy types wipe out all debt. Not everyone qualifies for a Chapter 7 which erases all debts by selling available assets. Sometimes a person can keep their property under a Chapter 7. There are income restrictions on Chapter 7 bankruptcy filings. A Chapter 13 may be another alternative which creates a structured repayment plan allowing you to pay over a period of time.

Other Considerations

Your income and assets are the main things used to determine the best bankruptcy type to file. In addition, a bankruptcy can affect your credit for up to 10 years by staying on your credit report. With all your credit history wiped out with a bankruptcy, your credit rating will likely drop significantly making it difficult to get a loan or credit card for a while.

When looking for ways to have financial freedom, a bankruptcy attorney may have the answers you need to eliminate your debt and get back on track. Many offer a free consultation.

Two Important Ways a Personal Injury Attorney May Assist a Client

A personal injury attorney wears many hats during his or her profession. This career – which entails representing or defending a client who has claimed that an injury has occurred – requires an attorney to be able to navigate all aspects of legal advocacy, as well as working with a client on an interpersonal basis. Here is a brief explanation about a couple of very important ways that a personal injury lawyer like Howard Blau Law may greatly help a client throughout a lawsuit.

Advocate for a Client

A personal injury lawsuit is a very serious situation for all parties involved. Often, a client’s entire life may be affected by what has occurred before – and what may happen after – the case has settled. In addition to understanding all the details and legality of the situation, an incredibly important way that a personal injury lawyer will help a client is by being a strong advocate. A lawsuit involving injury may leave a client feeling vulnerable and confused, likely resulting in many questions about rights and to what he or she may be legally entitled. A good injury attorney will work hard to ensure that clients are treated properly and will advocate for their well-being. It is vital that an attorney is a skilled communicator who listens intently to the needs of a client.

Advise a Client About All Available Options

Another way that an attorney can immensely assist a client is by advising exactly what he or she believes a client can (and should) do regarding exploring all possible settlement options. For example, a case involving damage and injury may take a very long time to reach a conclusion. A successful personal injury lawyer will have the knowledge and experience to offer insight about all the available options that may be best for a client to consider, such as taking the case all the way to a trial or settling outside of court. The guidance and information provided by a great attorney can aid in ensuring that a client receives the best outcome.

What To Know About Filing for Bankruptcy

There may come a time that you feel crushed by your current debt situation. When that happens, you may be able to find relief through bankruptcy. A Chapter 13 bankruptcy lawyer can help you determine whether or not you qualify.

Filing Considerations
Once you determine that you want to file for bankruptcy, there are a few things you need to consider when filing. There are going to be both court costs and legal costs associated with your bankruptcy. This is not a free service. Not all debts may be included in the bankruptcy including fraudulent debt. Your bankruptcy filing leaves any co-signed debt to the co-signer. While you may be off the hook, they remain fully liable. For up to 10 years, your credit may take a ding. Future lenders may see the bankruptcy and charge you higher interest rates. Any secured loans such as a home mortgage may be discharged, but the creditor often keeps the asset.

Bankruptcy Types
Most bankruptcies are either Chapter 7 or Chapter 13. A trustee takes over all the assets of the debtor in a Chapter 7 bankruptcy. These assets are sold to cover the debts owed. Some assets may be kept, but the new law only allows this type of bankruptcy every eight years. The court has the debtor create a repayment plan under a Chapter 13 bankruptcy. The payment plan often allows the debtor to pay over three to five years making partial payments. Most debtors are able to retain possession of the property as long as they maintain their payments.

Before Filing
There are a few things you can do before filing for bankruptcy. Many creditors are willing to work with debtors. Discuss with them the possibilities of moving the payment date or other solutions. Credit and debt counselors may be another alternative.

If you do decide to file for bankruptcy, a Chapter 13 bankruptcy lawyer like Brent George Law can help you create a repayment plan. An experienced attorney can help you navigate this stressful time.

How to Stay Safe While Riding a Bike on a Roadway

Riding a bicycle on a roadway can be an economical, healthy, and environmentally friendly option for individuals. However, riding a bike may place a rider in a vulnerable and dangerous position, especially if a cyclist is involved in an accident with a motor vehicle. A crash may result in numerous in problems, including injuries and financial implications for both parties involved in a wreck. (A bicycle injury lawyer like Howard Blau Law can be very helpful in the event of a serious wreck.) In order to avoid a potentially disastrous situation, here are two important tips to keep in mind to stay safe while riding a bike on a major roadway.

1. Wear Protective Gear

Hundreds of accidents involving bicycles occur every year. Therefore, it is critical that a cyclist wear protective gear including, of course, a helmet. According to multiple sources, helmets can – and do – save lives, and they should be worn when cycling. (Many states in the U.S. legally require the use of a helmet.)

2. Ride Defensively and Obey the Rules of the Road

Bicyclists are expected to obey the same rules of the road as drivers in cars. Therefore, it is extremely important for an individual on a bike to ride defensively, be mindful of the laws of the road, and be aware of their surroundings. If an accident occurs, a cyclist may technically be at fault and liable for damages depending on the circumstances. Anytime that a crash occurs between a vehicle and a bike, it is vital to obtain legal representation from a bicycle injury lawyer to assist in navigating the aftermath of a crash.

Understanding Changes in Bankruptcy Law

Changes in the federal bankruptcy law took effect in 2005. These updates made it more difficult for some people to file for Chapter 7 bankruptcy. The new laws also require mandatory credit counseling before the court will approve a bankruptcy discharge.

New Chapter 7 Means Test
A new means test eliminated the Chapter 7 route for some high-income bankruptcy filers. These individuals must instead file for Chapter 13, which reorganizes debt into a more affordable repayment plan rather than discharging it completely as with Chapter 7. Prior to 2005, those filing for bankruptcy could choose either Chapter 7 or Chapter 13 bankruptcy. The means tests looks at a person's debt, income, projected future income and assets to determine whether he or she can afford to repay some of the debt. The threshold for Chapter 7 qualification varies based on the median income in your geographic area for a family of your size.

Required Debt Counseling
Before filing a bankruptcy petition, you must complete credit counseling through a federally approved agency at your own cost. After filing, you must complete a second counseling session before your debts will be reorganized or discharge. These new 2005 requirements apply to both Chapter 7 and Chapter 13 filings.

A bankruptcy law attorney can help you decide whether bankruptcy is right for you. He or she can also apply the means test to see if you qualify for Chapter 7.

Should I File For Bankruptcy? I Need Help

Determining whether or not you should file for bankruptcy is a big decision and one you should not rush into without all the information you need to make the best decision for your situation. Before you file for bankruptcy in CA you should consult with a bankruptcy attorney who can assist you in determining if it is the right option for you. There are many ways an attorney can help you to better understand bankruptcy and what it means for you.

What Does Filing for Bankruptcy Mean?

There are many benefits you may be entitled to if you file for bankruptcy in CA. From preventing the forfeiture of assets under foreclosure or repossession threat to removing wage garnishment, bankruptcy may be able to greatly relieve your financial burdens. You may also have the ability to adjust the size of debt payment amounts or challenge your creditors. An attorney will help you understand what potential benefits you have available to you.

Misunderstandings About Bankruptcy

Another useful benefit of hiring a bankruptcy attorney before filing for bankruptcy in CA is understanding what it won’t mean for you. In most bankruptcy cases, there is no need to even appear in court and the individuals filing get to keep all of their possessions. Your attorney can also help explain the effect on your credit report filing will have, which is often less severe than those filing fear.