When other attempts to resolve debt in times of deep financial stress have failed, bankruptcy may emerge as an option worth considering. However, it is important to be informed about the implications of bankruptcy and the methods that you can use to identify a good attorney to represent your interests. Continue reading
Bankruptcy & Legal
Bankruptcy: A Disturbing Word
Bankruptcy is more than just a disturbing word. It is a legal process where you gain protection from your creditors by proving insolvency. Continue reading
Defining Chapter 7 Bankruptcy and What it Entails
When faced with adverse financial circumstances, you should always consider a wide range of options. If all others turn out to be inapplicable to your affairs given your situation, you may find yourself faced with the prospect of declaring bankruptcy. Yet while the term is bandied about heavily it is often misunderstood since there are many forms of bankruptcy. It is essential to distinguish between these different classifications for your own good, regardless of whether or not you are seriously contemplating the prospect of declaring bankruptcy. In particular, an understanding of Chapter 7 bankruptcy can be highly useful since its declaration is a focal point of asset liquidation. Furthermore, many are uncertain as to what it constitutes. Comprehension of what Chapter 7 bankruptcy entails can not only help you determine whether it is the right choice for you but will also supplement your awareness of financial matters. Continue reading
Judgment Day
I’ve warned that there are dangers in building up credit card debt. If you rack up a large bill and a lender is tired of waiting on you to pay up, he/she could take you to court. Here, you might come across strange terms like “tort” or “estoppel.” The end result of the case, however, is a familiar term. Continue reading
How does a mechanic’s lien work?
If you have hired an outside party to do work on your home or on your property, a payment plan might be the last thing you think about. However, getting work done from an artisan can end up seeming like taking out another line of credit. If you can’t pay the outside party for his/her work, not only are you in debt, but the person can legally take hold of your property. Continue reading
Chapter 13 bankruptcy pros and cons
Filing for Chapter 13 bankruptcy is a way to restructure your financial health. If you have disposable incomes but too many debts, Chapter 13 can provide a personal reorganization with a court-approved plan. As with any financial decision, there are some pros and cons to weigh if you are considering filing. Continue reading
Can I Get a Student Loan After Bankruptcy?
Let’s face it, college is expensive, and the economy isn’t helping too much either. If you have fallen victim to economic circumstances, you are certainly not alone, especially if you are a student. If you have filed for bankruptcy this early, it is still possible to get funding. Yes, you are able to get a student loan after bankruptcy. If taken care of in the most responsible and timely manner, you can save yourself from continued financial nightmares, and also attain a higher education. Continue reading
What is a summary judgment?
In legal terms, a summary judgment is a motion made before a trial begins to determine who is the winner of a lawsuit. In a typical trial, the jury is responsible for finding the facts of the case. However, when a person motions for summary judgment, he or she is saying that there are no important facts at issue and he or she deserves to win based on the law and the undisputed facts. Continue reading
Is a postdated check legal?
A postdated check is a check in which the issuance of funds cannot be accessed until a date in the future. These are checks that are written in advance to be used for a future date. It is usually the intent that someone will not cash the check until on or after the date that the check is dated. Continue reading
What is a mechanic’s lien?
Mechanic’s Lien? Artisan’s lien? Laborer’s lien? All these terms fall under the broad category of mechanic’s lien. A mechanic’s lien is a legal process which guarantees payment for agreed-upon services completed on an improved piece of property. If the owner of the property does not pay for services within a certain amount of time, contractors, subcontractors, and suppliers can file a mechanic’s lien after the work has been completed. A mechanic’s lien extends to work completed or supplies purchased on both the structure and the land under it. Until the debt is paid, the landowner does not have sole claim to ownership of the property, and cannot sell it. A mechanic’s lien is a “hold” against the property that, if unpaid, allows foreclosure, forcing the sale of your home. It is recorded with the County Recorder’s office by the unpaid contractor, subcontractor or supplier. Continue reading
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