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Articles from Gordon Levinson | Selfgrowth.com
- A Judgment Has Been Entered Against Me. What Happens Now? - by Submitted on May 29, 2009 from Gordon LevinsonOnce a creditor has obtained a judgment against you, chances are they will likely attempt to enforce it. There are many collection tools available in this regard depending on whether collection is sought against a business or individual. The following are the most common ways a judgment ...
Views: 13499(2 votes) - I Received a “Notice of Abandonment” from the Trustee! What Does that Mean? - by Submitted on May 27, 2009 from Gordon LevinsonWhen a debtor receives a “Notice of Abandonment” from the trustee, they should not be alarmed. The title of the document oftentimes scares debtors into thinking they are going to lose the property listed in the notice, which is not the case. Basically, a notice of abandonment is the ...
Views: 6604 - I Don’t Want to File for Bankruptcy. Are There Other Options Available? - by Submitted on May 29, 2009 from Gordon LevinsonYes, however it is imperative that you discuss the pro’s and con’s of these other options with a qualified consumer attorney before jumping into anything. While there are many ways to address unsecured debt absent a bankruptcy filing, the following 2 options are the most common: Debt ...
Views: 5123 - Is There a Minimum Amount of Debt Required to File Bankruptcy? - by Submitted on May 27, 2009 from Gordon LevinsonThis is a question I hear quite often as people contemplate filing for bankruptcy. The answer is no. The decision to file for bankruptcy relief is relative to the debtor’s financial situation. For example, it is not uncommon for someone who is living on social security or other fixed income to ...
Views: 3406 - Reaffirmation Agreement: What is it and What Are the Pro’s and Con’s of Signing One? - by Submitted on May 27, 2009 from Gordon LevinsonWhen you file a Chapter 7 bankruptcy case, you also file a statement of intention with respect to property that is secured by consensual liens (car loans, furniture loans etc.). Bankruptcy law requires you to “perform” or move forward with your intentions regarding financed personal property ...
Views: 2353 - Will My Credit Be Ruined for 7-10 Years Once I File for Bankruptcy? - by Submitted on May 29, 2009 from Gordon LevinsonOne of the common myths about filing for bankruptcy is that it ruins your credit for many years. The answer is “it depends.” It depends on a number of factors including your current credit score, your debt load, and your previous credit history. As surprising as it sounds and contrary to ...
Views: 1985 - Keeping the Car You Love Despite Owing Much More Than it’s Worth. How Can Bankruptcy Help? - by Submitted on May 27, 2009 from Gordon LevinsonIt is the exception rather than the rule that a person financing a vehicle owes less than or equal to the cars value. Unless you put at least 20% down, chances are you are upside down. Bankruptcy not only can eliminate unsecured debts like credit cards, it can also drastically reduce what you ...
Views: 1440 - What is the Difference Between Chapter 7 and Chapter 13? - by Submitted on May 29, 2009 from Gordon LevinsonThe difference between these two chapters of the Bankruptcy Code and their time lines are as follows: Chapter 7: Also called a “straight bankruptcy”, chapter 7 involves the liquidation of non-exempt assets for the benefit of creditors. Most chapter 7 cases are considered “no asset” cases ...
Views: 1271 - The Automatic Stay: What is it and What Can it Do for You? - by Submitted on May 27, 2009 from Gordon LevinsonThe automatic stay is one of the most powerful weapons in a bankruptcy arsenal to protect a debtor from his or her creditors. It’s impact is immediate upon the filing of the bankruptcy petition with the court, and its purpose is to provide instant relief from the stressors of creditor ...
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