Category: Creditors
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Donald Trump’s Many Bankruptcies
Donald Trump certainly has been in the news a lot recently. Whatever you think about his politics or show business credentials, the man clearly knows his way around a United States Bankruptcy court. A brief review of bankruptcy court information reveals that Donald Trump’s organizations have filed at least five bankruptcies since 1990. Each of these…
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List all of your bankruptcy creditors – or else!
Preparing a successful Chapter 7 or Chapter 13 bankruptcy involves many steps. One of the most important steps in any bankruptcy is to ensure that you have listed all of your creditors. Here’s why. After a Chapter 7 or Chapter 13 bankruptcy is filed, the court will send every creditor a notice of bankruptcy filing. This…
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Rebuild Credit After Bankruptcy
Most of my clients ask for advice on how to rebuild credit after bankruptcy. The good new is that it is absolutely possible to have a good credit score within just 12-24 months of filing for bankruptcy. You will need to have a plan and stick to it, but it is not impossible by any…
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Payday Loans Are Worse Than Gambling
A sure sign that a person is ready to file bankruptcy is a reliance on payday loans. Let me be clear: these things are flat-out scams. Any loan with interest rates over 100% should be illegal. I’m not entirely sure why our elected representatives have not outlawed these things. Alas, they are a part of life…
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Bill Collection Scams in Sacramento
My office has been receiving a surprising number of phone calls recently from people thinking about filing bankruptcy with one common trait: they were recently called by a extremely aggressive bill collector. Read more below to find out what you need to know about these bill collection scams in Sacramento. Bill collectors get a bad…
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How to Stop Wage Garnishment
Here in California, a judgement creditor can garnish your wages. A creditor can take up to 25% of your gross paycheck each pay period. For many of my clients, this is a disaster waiting to happen. Let me tell you how garnishments start, and how to stop it. Before a creditor can take money from your…
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Credit Karma Now Offers Full Credit Reports!
One important part of filing bankruptcy is listing all of your debts. Many of my client ask whether Credit Karma is a good tool for determining their creditors. In the past, I have said no. This was because Credit Karma did not provide enough information about your creditors. This has changed. Credit Karma is now offering…
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35 Percent in US Facing Debt Collectors
According to this article in the Seattle Times, 35% of Americans have debts that are being reported as delinquent. That means that debts are being pursued by debt collectors. The article goes on further to say that the amount of debt delinquency has remained constant since the Great Recession. This is concerning because the economy,…
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High Interest Car Loans and Bankruptcy
This article from the New York Times confirms what I often see in my office: many people are being put into bad car loans with very high interest rates. I define a bad car loan as having two main characteristics: 1) the value of the loan is typically much higher than the value of the…
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Wage Garnishments and Bankruptcy
Bankruptcy can stop and eliminate wage garnishments. This is one of the top reasons people call my office for bankruptcy relief. A wage garnishment is a process by which a creditor can take money from your paycheck. In California, a typical judgement creditor can take up to 25% of your gross wages each paycheck. This…