If debt is damaging your life a Riverside bankruptcy attorney can help you.  We understand that having debt doesn’t make you a bad person.  Unexpected events or circumstance out of you control can lead to excessive debt.   In fact, the law provides bankruptcy as a tool for people to get a fresh start.  There is nothing embarrassing or immoral about bankruptcy, it is a tool set forth so that good people can have a secured financial future.  Through bankruptcy it is possible to keep your house, your car, and other possessions if you desire.  A Riverside bankruptcy lawyer from our office can help you determine whether bankruptcy is right for you.

Start a New Future Now

You and your family deserve a secure financial future.  By eliminating or managing excessive debt you can put the past behind you and create a better future for your family.

You need to be prepared with a plan to rebuild your credit after bankrutpcy.  As part of your Riverside bankruptcy and as part of our services, we provide our clients with an an in-depth detailed program to rebuild their credit one step at a time.   Generally, building credit takes common sense, time and diligence, however as bankruptcy attorneys we can give you guidance so you know what to expect and have specific advice in which to navigate your future and rebuild good credit.

We can provide you with information you need to start repairing your credit immediately with each of the credit bureaus.  With our advice you can develop long term financial security free from debt with a good credit score so that you can qualify for home and car loans.

Rebuilding Credit

If you exercise diligence in re-building your  credit, your ability to get loans at a reasonable interest rate, increases over time.  Shortly after your case is completed, generally 180 days, you probably will start receiving credit card offers, and loans at very high interest rates.  As you follow our plan and time passes you should begin to qualify for lower interest loans around  6 to 18 months after bankruptcy.  Around the 6 to 18 month mark mortgage lenders may be willing to give you a home loan albeit at a very high rate.  By continuing to follow our plan you may be able to qualify for lower interest home mortgages after around 36 months.

]]> http://www.riversidebankruptcy.org/17/rebuilding-credit/feed 0 http://www.riversidebankruptcy.org/23/credit-repair http://www.riversidebankruptcy.org/23/credit-repair#comments Thu, 27 Aug 2009 08:16:08 +0000 Riverisde Bankruptcy Attorney http://riversidebankruptcy.org/?p=23 Whether or not you declare bankruptcy we can assist you in repairing your credit. An improve credit score can help you obtain a lower interest rate on loans, get a car loan, and make you eligible for a home mortgage.

A credit repair attorney can provide you with a comprehensive assessment of your credit situation and reviewing credit report from all three major bureaus. If you do not already have up to date credit reports we can help you obtain them.

We will work with you to identify items on your credit report that we believe may be properly removed or corrected. Our credit repair lawyers will assist you in disputing negative items on your credit. Each of the credit bureaus are obligated to verify or remove the disputed items. With our legal knowledge we know how to ask for the appropriate documentation to ensure that the credit bureau only verifies those items it can support with evidence.

Credit bureaus usually send correspondence directly to the client, therefore you are responsible for forwarding all information to your credit repair attorney so that we may properly assist you with your credit repair in a quick and efficient manner.

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy in Riverside is often the fastest, cheapest, and easiest form of bankruptcy for those who qualify.  A Chapter 7 bankruptcy attorney can file your bankruptcy and prepare you for and attend your creditors meeting with you.  Typically not long after the creditors meeting your debt is discharged and you are out of bankruptcy.

Many don’t adequately explore the option of bankruptcy because they believe there is a certain stigma to it.  In rebuilding credit bankruptcy should an option you at least look at in trying to rebuild your credit.  Every option should be explored so you can make fully informed decision on the best way to move forward.  In addition,  many people mistakenly believe that after the bankruptcy law change in 2005 they do not qualify for Chapter 7.  A Riverside County Chapter 7 attorney can help you determine whether you indeed qualify.

People also do not give bankruptcy enough consideration because they assume that that Chapter 7 bankruptcy will destroy their credit.  On the contrary, your credit score can improve after your debts are discharged if you take  proactive steps.  A Riverside Chapter 7 can help you get a “fresh start.”  We provide you with a plan to rehabilitate your credit after bankruptcy.

Our Chapter 7 Riverside County bankruptcy lawyers understand how to evaluate your financial situation and determine if Chapter 7 bankruptcy is right for you. Case evaluations are FREE.

Filing Chapter 13

Chapter 13 of the Bankruptcy code provides people with the opportunity to restructure their debts and avoid the harsh consequences of defaulting on their debt.  In some circumstance, debts are paid off in full.  Typically however, you pay off a percentage of some debts while others are entirely eliminated.

In exchange for Chapter 13 protection, you will agree to make a monthly payment you can afford to a court-appointed trustee who in turn uses such amounts to pay  creditors according to a court approved plan.  The exact amount of your payment is decided based on the facts of your case.

If you would like to understand more about filing a Chapter 13 Bankruptcy in Riverside County.  Our Riverside County Bankruptcy lawyer can assist you and evaluate your financial situation and eligibility for bankruptcy.

In addition, creditor’s phone calls and demand letters asking for money you don’t have only makes matters worse.   A Riverside personal bankruptcy lawyer understands that you money problems are out of your control.  A sympathetic personal bankruptcy attorney understand that debt is often the result unforeseeable occurrences such as a bad economy, being laid off, or being injured, which leave you unable to cover your basic expenses.

A personal bankruptcy attorney can assist you in working through the hard times to move onto a new future.  Our Riverside personal bankruptcy attorneys are available to help you file for Chapter 7 bankruptcy or Chapter 13 bankruptcy in the Inland Empire.

While most people do not want to file bankruptcy, it can be the best option for those who incurred substantial amount of personal debt that they cannot repay.   Filing bankruptcy in Riverside can allow you to discharge a significant portion of your debts and create a new life with financial security.  The  Riverside personal bankruptcy lawyers of www.riversidebankruptcy.org will help you understand all your options and determine whether bankruptcy is a good alternative given your situation.

• Stop garnishments wages
• Stop levy on bank accounts
• Stop a foreclosure

Bankruptcy Law

A new bankruptcy law, The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, made filing bankruptcy more complex.  However, many people are still qualify for bankruptcy and will be able to get a fresh start by filing a Riverside bankruptcy.

Under the new bankruptcy law, one cannot declare bankruptcy until they have undergone credit counseling.  In addition, the new bankruptcy law requires those filing for Chapter 7 to have “current monthly income” is less than the median income in California adjusted for household size.   If your currently monthly income is over the median income in California you are required to satisfy “the means test”  in order to qualify for Chapter 7.

Bankruptcy Overview

Bankruptcy is a legal vehicle that provides relief to individuals and businesses in serious financial trouble and protects their creditors to the extent possible. Generally, the bankruptcy process assesses the debtor’s assets and liabilities and provides a structure within which the debtor is allowed to keep some property and ordered to satisfy as many eligible debts as possible, according to an order of priority established by law. Remaining debts are discharged, except those of certain types, like domestic support orders, debt obtained by fraud and most tax debt.

Many people do not explore their bankruptcy options or are hesitant to file even if they qualify because they are worried about the stigma of bankruptcy.  In the past there may have been a stigma associated with bankruptcy, however today bankruptcy is a tool provided by federal law to give deserving people a fresh start of a time of financial difficulty. Many of those in debt, get into financial trouble to to extenuating circumstances that are out of their control such as being laid off,  a slow economy, sickness or divorce.

For good people who have fallen onto harsh economic circumstances, filing bankruptcy may be a good option to start over with a clear slate.  For those facing financial adversity, a Riverside bankruptcy lawyer can assist you in determing your best legal and financial strategy to get out of debt as soon as possible.

If you are in debt or are considering bankruptcy, at attorney can help you weigh all your options and guide you and finding the right course of action for you.  Before you allow your debt to get worse or you take action, consult an attorney who will help you understand precisely how your choices will affect your financial future.

For example if you considering whether to file bankruptcy or settle your debt with a credit card company, you should consider the tax consequences. Many people overlook that fact that the amount of debt forgiven in debt settlement is taxable income as cancellation of indebtedness income. Other the other hand if you file bankruptcy under Chapter 7 the amounts discharges are not taxable income.

Our attorneys have experience as part of a team working on some of the largest bankruptcy cases in the U.S. We have extensive experience working on some of the most complex and large dollar amount bankruptcy issues. You should be confident about trusting our attorneys to file your bankruptcy in Riverside.

Are you stressed about your finances? Are creditors harassing you every single day and you are not sure what your next step should be? Give us a call today to set up an initial free consultation with one of our Riverside bankruptcy attorneys and discuss with them all of your options. We are dedicated to helping our clients file bankruptcy in Riverside County.

If you have financial problems bankruptcy may be the option for you or perhaps another option such as debt settlement is right for you. An experienced bankruptcy attorney can help you consider all the relevant factors as to whether your best option is to file bankruptcy.