These cards are issued specifically to individuals who otherwise would be denied for a credit card, whether you have no credit history at all or poor credit. To learn more ….
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Secured credit cards allow individuals with limited or bad credit to build or rebuild their credit histories
Sunday, June 20th, 2010Post Chapter 7 Bankruptcy Car Loan To Rebuild Credit
Sunday, June 20th, 2010Reduced credit score аnԁ future borrowing ɡеt seriously handicapped post уου hаνе filed bankruptcy. Bυt thаt doesn’t mean уου саn’t ɡеt a loan. Sο іf уου аrе considering financing fοr car loan аftеr bankruptcy, thеrе іѕ hope. Anԁ уου сουƖԁ look forward tο getting a car loan afer bankruptcy even аftеr уου hаνе filed οr even immediately аftеr bankruptcy. Yου need tο explore thе market аnԁ find out subprime lenders οr secondary lenders. Thе subprime οr thе secondary lenders especially work wіth people wіth аƖƖ sorts οf credit.
Hοwеνеr; уου mυѕt ensure thаt уου work wіth a lender affiliated tο thе Better Business Bureau online. Thеѕе lenders work wіth non-traditional borrowers аnԁ offer variety οf financing options. More …..
Peddling Relief, Firms Put Debtors in a Deeper Hole
Saturday, June 19th, 2010For the companies that promise relief to Americans confronting swelling credit card balances, these are days of lucrative opportunity. So lucrative, that an industry trade association, the United States Organizations for Bankruptcy Alternatives, recently convened here, in the oceanfront confines of the Four Seasons Resort, to forge deals and plot strategy.
At a well-lubricated evening reception, a steel drum band played Bob Marley songs as hostesses in skimpy dresses draped leis around the necks of arriving entrepreneurs, some with deep tans.
The debt settlement industry can afford some extravagance. The long recession has delivered an abundance of customers — debt-saturated Americans, suffering lost jobs and income, sliding toward bankruptcy. The settlement companies typically harvest fees reaching 15 to 20 percent of the credit card balances carried by their customers, and they tend to collect upfront, regardless of whether a customer’s debt is actually reduced. more ….
Only a fraction of those in need file for bankruptcy
Wednesday, June 9th, 2010Bankruptcy filings are nearing the record 2 million of 2005, when a new law took effect that was aimed at curbing abuse of the system. Filings could reach 1.7 million this year, says law professor Robert Lawless, but few experts believe that debtors are now gaming the system.
Instead, concern exists about a growing number of Americans who need bankruptcy protection but cannot get any benefit from it or simply cannot afford to file. As their financial problems worsen, that hurts everyone because it can hinder the economic turnaround. more
Debt-settlement companies draw increasing criticism
Monday, June 7th, 2010The ads are ubiquitous, and for consumers awash in debt, nearly impossible to ignore: Reduce your credit card bills 50%! Avoid bankruptcy! The relief is real!
Behind the ads is a fast-growing industry that barely existed a decade ago. Debt-settlement companies claim they can significantly reduce borrowers’ debts by negotiating directly with creditors. Unlike most businesses, these companies have flourished during the economic downturn.
But a growing group of lawmakers, regulators and consumer advocates say these companies exploit desperate borrowers, often leaving them deeper in debt. … more
Courses Required Under the 2005 Bankruptcy Laws.
Sunday, June 14th, 2009The 2005 Bankruptcy Laws require debtors to take 2 courses called “credit counseling” and “debtor education”. These courses are mandatory for all individual debtors.
The first course is called credit counseling and its purpose is to go over your income and expenses budget. It is mandatory that you complete this course PRIOR to filing your bankruptcy petition. There are many non profit organization that provide these service however they must be approved by the court that you will be filing your bankruptcy in.
Usually the attorney who will help you file your bankruptcy can guide you to such an agency. At our office, we provide our clients with a 30 minutes video to watch prior to taking the course and we also electronically register the client to take this course online. It has been our experience that this helps our clients in expediting the completion of the courses. Once the course is completed, our office will receive the certificate automatically and we will proceed in filing the petition.
The second course is required to be completed within 45 days from the creditors meeting. This course is called debtor education and its purpose is to educate the debtor of different financing and credit information to better prepare them for their future credit needs.
The court will not grant the debtor the bankruptcy discharge until this second course is completed and the certificate of completion filed with the court. Again, your attorney can help guide you to agencies that provide this course as well. Most agencies provide both courses to the debtor thereby streamlining the process.
Our office will also register you automaticaly upon retaining our services and provide you with the ability to complete this course over the internet or by phone and help you get the discharge.
I should be noted that the agencies that provide these two courses are called “credit counseling” and should not be confused with “credit consolidation” companies.
Roland H. Kedikian, Esq.
Mr. Kedikian has been a practicing attorney since 1997 and has concentrated his practice in Bankruptcy ever since his admittance to the California State Bar. He has developed his skills and understanding of bankruptcy with emphasis on Ch7 consumer and business filings. Over the past 12 years as a bankruptcy attorney, he has successfully filed and obtained bankruptcy discharge to all his clients to date.
Mr. Kedikian is proud to provide professional legal advice to his clients and has an exemplary record.
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