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When you have successfully completed your chapter 13 plan, you receive what is referred to as a discharge. When you receive a discharge, it means that all of the debt you included in your chapter 13 filing has been legally paid. After the discharge, creditors who were part of the process are not allowed to […]The post The Chapter 13 Bankruptcy Discharge appeared first on Tucson Bankruptcy Attorneys Trezza & Associates.
In many cases, assets that belong to your spouse may be off limits to creditors but it depends on the circumstances of the spouse filing for protection. There are a few factors to review that may give clarity regarding account funds. You need have a good idea of what assets are considered part of your [...]
thousands of jobs as well. In fact a recent study shows that payday loans cause roughly fifty-five thousand bankruptcies per year. Tell us what we don’t know.
When you put the softest possible spin on payday loans, you could say, at least in theory, that payday loans meet a real need for emergency cash, allowing borrowers to obtain short term cash advances on wages during pressing circumstances. Oregon and Washington consumers secure these loans by providing a postdated check or electronic access to their bank account. While this practice sounds harmless enough, the reality is that the terms of these short term loans have wrecked the lives of consumers throughout the Pacific Northwest.
The loans carry nearly unspeakably burdensome rates, often ranging from 200 percent to 500 percent. Loan sharks should do so well. Moreover, your average pay day loan borrower takes out eight of these loans per year. On an average loan size of $375, borrowers will pay about $520 in interest. Since the average payday borrower can only repay about a hundred a month, taking out a payday loan almost always touches off a cycle of taking out more payday loans to pay off old payday loans.
Though most payday lenders are storefront or Web operations, major banks have gotten in on the action. Both US Bank and Wells Fargo offer pay day loans under different brand names with interest rates that might shock their day to day clientele. Moreover, banks such as Bank of America and JP Morgan Chase have profited enormously by allowing payday lenders to make withdrawals. Because payday loan borrowers are twice as likely to incur overdraft fees, pay day loans are extremely profitable to the banks that allow these withdrawals.
The original post is titled Oregon and Washington Consumers and Payday Loans , and it came from Oregon Bankruptcy Lawyer | Portland, Salem, and Vancouver, Wa .
California is a state of drivers. For those with child support debts, bankruptcy may provide relief from a driver license suspension.
Child support obligations can be difficult to meet for even the wealthiest of people. When you’ve got a child, it’s your responsibility to help financially – but sometimes life takes a turn and you can’t make your obligations.
What happens next can be een more painful.
Child Support-Related License Suspension In California
The State License Suspension and Revocation Program, also known as the State Licensing Match System (SLMS), is the tool used by each of California’s county-based Child Support Services Departments to help collect past due child support.
Using this program, the county can deny, suspend, or revoke permanent state-issued driver, professional, business and recreational licenses of noncustodial parents (NCP) who owe past due child support and fail to comply with court orders to pay support.
Can Bankruptcy Help Release Your License?
Under California law, you’ve got to be in compliance with the child support order in order to get your license restored. Once of the ways you can do so is by making arrangements to pay the arrears.
Filing for Chapter 7 bankruptcy won’t wipe out your child support arrears, but you may be able to repay those child support obligations using a Chapter 13 bankruptcy. Catch up on the back due child support, get your license reinstated, and get back on the road.
Getting Out Of Other Types Of Debt May Also Help
Though filing for Chapter 7 bankruptcy won’t let you wipe out the child support debts, you may decide that discharging your other debts will help get you out of the financial hole.
Wiping out other debts may free up enough money for you to catch up on the child support arrears and stay on the right side of the law in the future.
Remember Who’s Important
Your children are more important than your credit card companies. Your creditor won’t grow up with hard feelings towards you for not making good on your child support obligations.
Keep it in perspective, do what you need to do in order to take care of your children, and your world will be a better place.
Image courtesy of thirdape23
How Bankruptcy Can Restore A California Driver License Suspended For Child Support was originally published on Consumer Help Central. If you're seeing this message on another site, it has been stolen and is being used without permission. That's illegal, a violation of copyright, and just plain awful.
In an update from a previous post, a bill that would prevent local governments from being able to require lenders to offer mediation to homeowners facing foreclosure is nearing passage in the Missouri Senate. The bill, passed by the Missouri House of Representatives a few weeks ago, would directly oppose ordinances passed in St. Louis [...]
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 07, 2013 SouthPeak Seeks to Pull Plug on TimeGate Bankruptcy New testimony in Shapiro bankruptcy case supports claims Solyndra bankruptcy scandal spills over into wind projects
Consumers have the option of filing for bankruptcy on their own, also known as “pro se,” in which you represent yourself. You are not required by law to file bankruptcy with an attorney, but many do not understand the risk they take upon themselves when considering the process without guidance of an experienced attorney. For instance, many [...]
The Bankruptcy Court of the Western District of Michigan recently denied a Trustee’s Motion to Sell Avoidance Actions pursuant to 11 U.S.C. 363(b).1 The Trustee’s Motion sought authority to sell potential causes of actions under Chapter 5 of the Bankruptcy Code, as the estate had limited resources to pursue the actions. The Court noted that the Sixth Circuit has not decided the issue of whether a Bankruptcy Trustee has authority to sell avoidance actions.
The real issue before the Court was whether an avoidance action is “property of the estate” given a Trustee has authority to sell property of the estate pursuant to § 363(b). The Court rejected the Trustee’s argument that avoidance actions are included within property of the estate. Read More ›
Tags: Western District of Michigan
To my readers around the country, please keep in mind that I cannot give you legal advice. My answers here on this blog may help you think of things to talk about with YOUR LAWYER. DO NOT TRY TO BE YOUR OWN LAWYER, based on anything you read here. That would be a really bad idea. Welcome. [...]The post Welcome to the “Reader Top Rated” Bankruptcy Blog appeared first on Robert Weed.
To my readers around the country, please keep in mind that I cannot give you legal advice. My answers here on this blog may help you think of things to talk about with YOUR LAWYER. DO NOT TRY TO BE YOUR OWN LAWYER, based on anything you read here. That would be a really bad idea. Welcome. […]
The post Welcome to the “Reader Top Rated” Bankruptcy Blog by Robert Weed appeared first on Robert Weed - .
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