Author Archives: Harold Shepley
Avoid These Pitfalls When Filing for Bankruptcy
When you are in financial trouble, do not wait until the last minute to seek legal help. Some careful planning and working with a skilled bankruptcy lawyer can help you avoid certain pitfalls related to bankruptcy. Working ahead, at least several months before filing is often to your advantage. Here are common errors that can […]
How Does Residency Relate to Your Bankruptcy?
Some states have lists of assets that are exempt when filing bankruptcy and debtors can choose whether to use the federal list of exempt assets or the state’s. Not all states allow you to choose, but Pennsylvania is an either/or state that allows you to decide whether to use the state or federal government’s exemptions. […]
Can Parties Sue Each Other in a Bankruptcy Case?
Most bankruptcies face few challenges. Your bankruptcy lawyer files the petition on your behalf and you meet with the trustee. The creditors’ meeting is frequently a formality and no creditors may even attend. All goes well with no blips on the radar screen, so to speak. However, some bankruptcies are complicated and do not move […]
How Does the Process Work When Claiming a Bankruptcy Exemption?
An exemption is a piece of property that you can hold back during a bankruptcy. Exemptions range from cars to work tools and states have their own list of possible exemptions. When filing bankruptcy, your bankruptcy lawyer ensures that your Schedule C lists all the bankruptcy exemptions that you want to claim. Exemptions not listed […]
Forgive Us Our Debts, As We Forgive Our Debtors
The idea of forgiving debts is not a new one. It arose centuries ago during biblical times. Despite the social stigma often associated with filing bankruptcy, the United States, which was founded as a Judeo-Christian nation, draws on a rich religious heritage of showing compassion for debtors. During the time of Moses, the Israelites were […]
Secured Credit Cards: An Option for Restoring Credit after Bankruptcy
Whether you are a young person starting out with no credit or are re-establishing credit after bankruptcy, one credit-building option is a secured credit card. A secured credit card requires a deposit to guarantee the card. For example, the bank may require an initial $500 deposit and give you a credit line of $500. As […]
How Can Using Retail or Gas Cards Help Re-Establish Credit?
After bankruptcy, you may have to use more than one approach to re-establish credit. With any approach, the main thing is making regular payments. You are rebuilding trust with lenders and on time payment restores their trust in you, thereby rebuilding credit. Retail cards A retail card is not a Visa or MasterCard. These are […]
Plusses and Minuses on Student Loan Interest Rate Freeze
Today, students are struggling to pay off student loans and this tight job market isn’t helping. Many are living with parents, delaying marriage, and taking other actions to pinch pennies so they can pay off their student loans. The student loan interest rate was about to expire at the end of June 2012, resulting in […]
Which Works Best for You — HAMP or HEMAP?
Various choices are available for loan modifications and determining the best option for you can be confusing. You may have heard of HAMP, a federal loan modification program. HEMAP is the loan modification program that the Pennsylvania state government offers homeowners. Your mortgage foreclosure defense specialist is probably the best judge of which program would […]
Can a Mortgage Modification Help You?
Mortgage foreclosure defense is a way to avoid foreclosure and keep your home if you can no longer make your mortgage payments. It consists of changing the terms of your original mortgage to better suit your current financial situation. The process consists of sitting down with your bank or other mortgage lender and agreeing to […]
