Bankruptcy DC Attorney | DC Bankruptcy Attorney

Bankruptcy and Your Credit Score

admin — Tue, 10 Nov 2009 23:24:10 +0000

I would like to address the issue of your credit score. Many of my clients realize there credit score is already rock bottom when they call my office in Washington DC. They realize that when they file for bankruptcy that there is really nothing that will happen to their credit score since there is no where to go but up.

Others though call my office and are concerned what will happen to their credit score if they file for bankruptcy. I remind them that if they are considering bankruptcy it probably means their debt-to-income ration (one of the primary formulas used to calculate your credit score) is probably way out of line already. When you file for bankruptcy, you wipe away most, if not all, of your credit. That brings you debt-to-income ratio to become a really good score. Now, of course you bankruptcy stays on your credit report for up to 10 years but many of my clients get credit card solicitations within the year. Why? Because credit card companies know you cannot file for another 8 years so they know there is a good chance you will actually pay them back.

I also advise my clients and you that don’t push off the next 2-5 years trying to pay off your creditors if there is a good chance that you will not be able to and only after a few years you will file for a chapter 7. If you file now, you can start rebuiliding your credit during that time.

If you would like a free over-the-phone consultation from me please give me a call at: (202) 540-9224. I look forward to hearing from you.

New Means Test Guidelines

admin — Wed, 14 Oct 2009 03:12:25 +0000

This November, 2009 the new median income figures will be published for those filing for bankruptcy. This will obviously have a major effect on those planning on filing bankruptcy in Washington DC. These numbers are changed every few years to keep up with the latest median income figures. Because of the economy, these numbers should be much lower than the median income figures in the past. In many cases, the numbers will be significantly lower than prior years.

If you would like to find out if you still qualify for bankruptcy given these figures please give my law firm a call at: (202) 540-9224. I look forward to speaking with you.

Disclosure is Key

admin — Fri, 09 Oct 2009 03:24:11 +0000

I just wanted to write 1 post on what I consider the most important part of the bankruptcy process – disclosure, disclosure, disclosure. So many of my clients want to know why I need certain information from them. Put simply, the trustees want a full picture of your financial history. For an overwhelming majority of my clients this is nothing more than busy work – but the purpose of this is so that people who are trying to cheat the system – will be caught. The more info the trustees seek out from you – the harder it will be for those trying to hide assets and cheat the system from succeeding.

I know that there is a lot of information that we need to fill out your bankruptcy petition. Trust me, I have to deal with this every day. However, it is critical to bankruptcy process and one that needs to take place in order to get your discharge. Don’t be tricky, just disclose everything. If you have a question about anything, just give me a call.

I am a bankruptcy attorney in Washington DC who helps people file for bankruptcy under the bankruptcy code. If you need a Washington DC bankruptcy lawyer please give me a call.

Hello world!

admin — Fri, 07 Aug 2009 18:46:03 +0000

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