Wednesday, May 26, 2010
Tuesday, May 25, 2010
1. Nevada 10.3
2. Tennessee 8.0
3. Georgia 7.8
4. Michigan 7.4
5. Alabama 7.1
6. Indiana 7.0
7. California 6.4
8. Illinois 6.4
9. Kentucky 6.1
10. Ohio 5.9
11. Colorado 5.9
12. Utah 5.8
13. Arizona 5.6
14. Arkansas 5.6
15. Florida 5.6
16. Wisconsin 5.3
17. Rhode Island 5.2
18. Missouri 5.1
19. Delaware 5.1
20. Mississippi 5.0
21. Maryland 5.0
22. Washington 4.9
23. Oregon 4.8
24. Virginia 4.7
25. New Jersey 4.5
26. New Hampshire 4.5
27. Idaho 4.4
28. Nebraska 4.3
29. Minnesota 4.2
30. Louisiana 3.9
31. Oklahoma 3.8
32. West Virginia 3.7
33. Kansas 3.6
34. Massachusetts 3.5
35. New Mexico 3.3
36. Iowa 3.3
37. Connecticut 3.2
38. Pennsylvania 3.0
39. Maine 2.9
40. Vermont 2.9
41. Hawaii 2.9
42. North Carolina 2.8
43. Montana 2.7
44. New York 2.7
45. Wyoming 2.5
46. Texas 2.2
47. South Dakota 2.2
48. North Dakota 2.2
49. District of Columbia 2.1
50. South Carolina 2.1
51. Alaska 1.5If you are considering a personal bankruptcy, you are not alone! In this tough economy, many families file bankruptcy to relieve them from the pressures of overwhelming debt and to begin their fresh start to a brighter financial future. Have your case evaluated today from an experienced bankruptcy attorney and discover how the federal bankruptcy laws can help you.
One of the most common and important questions asked by a client during the initial bankruptcy consultation is, "Can I keep my house?" The happy answer is, "Yes." However, every client's case is different and requires a skilled and experienced attorney to evaluate your situation and help you choose the appropriate debt relief process.The first question is whether there is equity in your home. Every state allows the debtor to exempt home equity from creditors during bankruptcy. Home equity is simply the difference between the amount that is owed and what the property is worth. If you have more equity in your home than can be exempted, you may need to consider either a Chapter 13 repayment plan or a non-bankruptcy option for debt repayment. In a Chapter 13 the debtor pays the amount equal to the non-exempt home equity to unsecured creditors (like credit cards and medical bills) over a three to five year period. If Chapter 13 is not a feasible option, the debtor may want to consider borrowing against the home equity to pay unsecured creditors.The second issue is whether you can afford to keep the home by making the monthly payments. A home mortgage is a secured debt which must be paid or you must surrender the property back to the mortgage holder. When circumstances have changed and you can no loner afford to keep your home, the bankruptcy laws can help you to leave on your terms without any lingering debt.In some cases a third issue is present: the debt is more than the value of the house. In those cases bankruptcy may help either through lien stripping an entirely unsecured second mortgage, or by encouraging the mortgage holder to negotiate for a modification and reduction in principle. Typically the mortgage holder does not want your property, and is usually willing to discuss payment options once a bankruptcy case is filed.Finally, some debtors are facing foreclosure from an uncooperative mortgage holder. A Chapter 13 bankruptcy can be used to force the mortgage holder to accept payments that cure mortgage arrears over three to five years.There are many options available for saving your home. Your bankruptcy attorney can discuss the pros and cons of each and help you decide which option is best for your family. Use the federal law to your advantage and discover how the bankruptcy laws can help you keep your home.
Post: Auto Redemption in Chapter 7 Bankruptcy
Monday, May 24, 2010
A bank account debt can offer many challenges to an individual in bankruptcy. Usually a bank account debt originates from fees associated with an overdrawn account. These fees can quickly accumulate and result in a debt of hundreds of dollars. A bankruptcy will generally discharge this debt, assuming the debt was not incurred by fraud or criminal activity. However, the issue is often should you discharge your bank account debt rather than can it be discharged.In deciding whether to discharge a bank account debt, you must determine if repayment is feasible. In cases where the debt is small, the account is still open, and you have the resources to pay the debt, repaying the debt is generally the best option. Remember to consult with your attorney before repaying any debt prior to filing bankruptcy. In many cases it is advantageous to wait until after the case is filed before repaying a debt.If paying the bank account debt is not feasible, you may face several negative consequences. First, the bank will close your bank account. Second, over eighty percent of all banks use Chexsystems, a consumer reporting agency that provides information regarding accounts at banking institutions. Negative information may remain on your Chexsystems file for five years. To view your Chexsystems report for free, visit: https://www.consumerdebit.com/consumerinfo/us/en/chexsystems/report/index.htmWhile a bankruptcy will discharge a bank account debt, factual information concerning the debt will remain on your Chexsystems report after the bankruptcy. This information is available to financial institutions and may prevent you from opening another bank account. Fortunately, there are programs available to an individual with a derogatory Chexsystems report offered by banks, universities, and not for profit groups. One of the most popular is the "Get Checking" program offered by several groups around the country. The University of Missouri Extension offers a typical "Get Checking" program, which requires a debtor to pay all outstanding bank fees on the prior bank account and take a six-hour checking education class. The debtor then receives a certificate of completion which can be used to open a new account at a participating financial institution. If ChexSystems reports suspicion of fraud on a prior account, a certificate will not be issued and institutions are not required to open an account.If you have an overdrawn bank account and are considering bankruptcy, discuss your financial situation with an experienced bankruptcy attorney. There are many options to deal with bank account debt, but the situation can only grow worse from procrastination. Quick action is the best cure for this type of debt.
Saturday, May 22, 2010
The bankruptcy means test is a calculation designed to identify debtors who can afford to pay some of their unsecured debts (for instance, credit card debt) and encourage repayment of these debts through a Chapter 13 repayment plan. The first part of the means test determines whether your current monthly income is less than your state's median income for a household of your size.
If your family's income is less than your state's median income for a family of your size, you PASS the means test. There is no other testing and you can proceed with a Chapter 7 bankruptcy. The current state median income figures can be found at the U.S. Trustee's website: http://www.usdoj.gov/ust/eo/bapcpa/meanstesting.htm
If your family's income is more than your state's median income, you must complete the means test worksheet to calculate if you have (or should have) money to repay unsecured creditors. In the end if you are able to pay a significant portion of your unsecured debt, you will FAIL the means test and cannot file a Chapter 7 bankruptcy.
The truth is that most debtors pass the means test without any difficulty based upon their income. Others pass the means test after a skilled bankruptcy attorney has examined your income sources and made certain elections in completing the calculation. That is not to say that the test can be manipulated! On the contrary, the skilled bankruptcy attorney will work within the bankruptcy statutes, rules, case law, and local interpretations (which can vary a great deal among jurisdictions!) to obtain the best result from the means test.
If you have questions or concerns about passing the means test, seek out competent legal advice. An experienced bankruptcy attorney can guide you through the means test to reach the best possible result for your circumstances.
Sunday, May 16, 2010
Back in the real world, declaring bankruptcy is not nearly as public, or as simple, as shouting out "I declare bankruptcy!" The bankruptcy process begins with an accounting of your income, expenses, assets, and debts. The debtor is required to use approved forms for this financial accounting. A copy of these forms can be found on the U.S. Courts website, and a general description of each form that must be filed in all consumer debtor Chapter 7 bankruptcy and Chapter 13 bankruptcy cases is provided below.
The Voluntary Petition is three pages long and is the formal declaration of bankruptcy. Filing the Voluntary Petition begins the bankruptcy process and imposes the automatic stay which will generally stop action by creditors to collect debts.
Schedule A is a list of real property.
Schedule B is a list of personal property.
Schedule C is a list of property the debtor claims as exempt.
Schedule D is a list of creditors holding secured claims.
Schedule E is a list of creditors holding unsecured priority claims.
Schedule F is a list of creditors holding unsecured nonpriority claims.
Schedule G is a list of the debtor's executory contracts and unexpired leases.
Schedule H is a list of codebtors in the bankruptcy.
Schedule I lists the debtor's monthly income.
Schedule J lists the debtor's monthly expenses.
The debtor must sign a Declaration that the above schedules are accurate to the best of his or her knowledge, information, and belief.
The debtor must file a Statement of Financial Affairs. This form provides a summary of the debtor's financial history, transactions, and operations over certain time periods before the case is filed. There are 18 separate items on this form:
- Income from Employment or Operation of Business
- Income Other than from Employment or Operation of Business
- Payments to Creditors
- Suits, Administrative Proceedings, Executions, Garnishments, and Attachments
- Repossessions, Foreclosures, and Returns
- Assignments and Receiverships
- Payments Related to Debt Counseling or Bankruptcy
- Other Transfers
- Closed Financial Accounts
- Safe Deposit Boxes
- Property Held for Another Person
- Prior Address of Debtor
- Spouses and Former Spouses
- Environmental Information
- Nature, Location, and Name of Business
Finally, the debtor must file either a Statement of Current Monthly Income and Means Test Calculation in a Chapter 7 Bankruptcy case, or a Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income in a Chapter 13 bankruptcy case.
The success of your bankruptcy largely depends on the accuracy of these forms and the skill that your bankruptcy attorney applies in crafting these financial reports. Don't leave your financial future to chance! Seek out an experienced bankruptcy attorney to complete these forms and advise you on the best course of action to resolve your financial problems and protect your rights!
Wednesday, May 12, 2010
Many clients are intimidated when meeting a bankruptcy attorney for the first time. They fear that they will be asked judgmental questions and have to justify their financial distress. They fear that they will not be able to answer the attorney's questions and somehow not qualify for bankruptcy and the relief they desperately need.
Nothing could be further from the truth.
The first thing you will discover when meeting your bankruptcy attorney is that your attorney is a good listener. You are the world's foremost expert concerning your own finances, and your attorney is there to learn about your case from you.
The second thing you will discover is your attorney's compassion. Bankruptcy attorneys really do care about their clients. Bankruptcy is one of the few areas of the law where the legal process is designed to have a positive result for the client. The goal of your bankruptcy attorney is to ensure that you are in a better financial position at the end of the case than you were at the beginning. Bankruptcy lawyers are caring individuals that have an active interest in your future success.
The third thing you will notice is how your attorney is able to quickly summarize what seems like an overwhelming problem into simple concepts. Your attorney will break down your finances into four categories: assets, debts, income, and expenses. From there you and your attorney can discuss what must be done to improve your financial situation.
Finally, you will be impressed with the clarity your attorney has for repairing your financial problem. A skilled bankruptcy attorney spends years studying, training, and gaining practical experience just so your case can be resolved quickly and efficiently. Bankruptcy law is all about paths to recovery and your attorney will guide you along a path that is best for you.
When you first meet your bankruptcy attorney, discuss your case openly and honestly. You will find that your attorney is dedicated to helping you attain a financial fresh start and improve your family's finances.
The United States Trustee Program reports only around four percent of all Chapter 7 bankruptcy cases are "asset cases." In other words, statistically only one case in twenty-five has an asset that can be converted to cash and distributed to creditors. Some common types of non-exempt assets include:
• Cash money
• Tax refund
• Vehicle equity
• Home equity
• Misidentified financial account
• Unlisted property
Whenever a non-exempt asset is found by the bankruptcy trustee, the debtor's case comes under greater scrutiny, the case is generally prolonged while the asset is administered, and creditors are invited to file proof of claims to participate in the distribution of the asset.
The key to keeping property during a Chapter 7 bankruptcy is early identification and full disclosure with your bankruptcy attorney. Poor communication between the client and attorney is usually the cause of "at risk" property. Every bankruptcy attorney has a story about a client who informs the trustee at the 341 meeting of creditors, "I didn't tell my attorney about this property, but. . ." This story seldom has a happy ending for the client and usually results in the loss of that property.
There are many ways to protect property during a Chapter 7 bankruptcy. Be sure to discuss all of your assets with your bankruptcy attorney. If you have doubts whether you have an ownership interest in property, discuss it with your bankruptcy attorney. Your attorney can provide you legal options to protect your assets and avoid "at risk" property during the bankruptcy process.
Tuesday, May 11, 2010
The Bankruptcy Code also requires that the Chapter 7 debtor perform on that intention within 45 days after filing the statement. The Bankruptcy Code allows the debtor to choose one of the following: (1) surrender the collateral back to the creditor and discharge any personal liability; (2) reaffirm the debt and retain the collateral in exchange for continued personal liability on the original debt; or (3) redeem the collateral by paying the current fair market value in a lump sum.
Prior to the overhaul of the Bankruptcy Code in 2005, a Chapter 7 statement of intention had little relevance. Now the statement of intention can mean the difference between keeping and losing an automobile or other secured property.
Failure to timely file or perform on a statement of intention causes the automatic stay to be lifted and the property is longer a part of the bankruptcy case. In some cases, a purchase agreement may contain an ipso facto clause which creates a default on the loan by filing bankruptcy. The Bankruptcy Code expressly nullifies ipso facto clauses, but only for property of the bankruptcy estate. Most courts find that ipso facto clauses are enforceable under state law when property is no longer a part of the bankruptcy estate.
Let me restate this situation in plain English: if you file bankruptcy and do not file or timely perform on a statement of intention, the property is no longer protected by the bankruptcy and can be repossessed by the creditor, even though you are current on the loan. This situation recently was discussed in a Ninth Circuit Court of Appeals case, Dumont v. Ford Motor Credit Company.
If you have an auto loan or other secured item you want to keep, discuss your options with an experienced bankruptcy attorney. Your attorney can help you reach the right decision for you and your family.
This is why we have waited so long to commence shearing. While most Virginia Alpaca Farmers have already sheared their alpaca over the last month or so, They continue to put cria coats on them as it has been freezing in Virginia frequently in the morning. This morning it got down into the high 30's before sunrise @ Furbelow Farm Alpacas. Our Farm sure is Growing Fast. Furbelow Farms now has Cashmere Goats on their Virginia Farm in Goochland County! Be sure to check out the cashmere goats as well as all of our new Furry Friends that arrived this year! We offer Duck Eggs, Chicken Eggs, and Quail Eggs. Great for eating or hatching. The hatching eggs are great for school projects, we will even take the hatchlings back if you do not want to keep them.
Browse our Web site for more information about Furbelow Farm Alpacas. If you have any questions or would like to speak with a Furbelow Farm Alpacas representative regarding anything you see, please e-mail us at info@FurbelowFarms.com or call us at 804-852-7043.
At Furbelow Farm Alpacas, the customer always comes first.
Furbelow Farm Alpacas and Cashmere Goats is centrally located in Virginia. We are about 30 miles west of Richmond Virginia, about 35 miles east of Charlottesville and Staunton, about 45 miles South West of Fredericksburg, about 60 miles from Northern Virginia, And about 90 miles from Washington D.C.
Fact or Fiction? If of course it is a fact please, show me the law which mandates I file a Form 1040!
Monday, May 10, 2010
FREE TELEPHONE BANKRUPTCY CONSULTATION (804) 358-2222
You may call us and we will be more than glad to spend whatever time it takes to listen to your situation, answer your questions, discuss our fees and payment plans, and in many cases we may be able to offer you a bankruptcy strategy or other alternative over the telephone
EVENING, WEEKEND AND EMERGENCY APPOINTMENTS
In many cases we realize that we need to act quickly and we do not mind coming into the office in the evening or on a weekend if it means stopping a foreclosure on your house or the repossession of your car or the garnishment of your wages. We are completely computerized which means we can file your petition from our office directly to the court (even on weekends and holidays) and give you and the creditors a case number while you are still sitting in our office. In most cases, if you bring in the needed information we can file your bankruptcy on your first visit. Emergency Contact: Bankruptcy Attorney Law Firm Emergency - Cell Phone - (804) 840-0878
AFFORDABLE FEES AND PAYMENT PLANS
Filing a bankruptcy petition is not cheap but we will make it affordable for you and work hard to come up with a payment plan you can afford. Once we speak with you and determine what needs to be done in your individual case we can tell you what the attorney fees will be. Just call us and we will try to work out a payment plan that you can afford. In many cases we can put the balance of the attorney fees into the Chapter 13 bankruptcy payment plan and we will be paid each month by the trustee along with your other creditors. In a Chapter 7 bankruptcy case we can set up a payment plan for you.
EXPERIENCE AND DEDICATION
Attorney Cochran has been in the consumer bankruptcy practice since 1989. We handle consumer Chapter 7 Bankruptcy and Chapter 13 Bankruptcy cases. We do not represent creditors, only the consumer. We pride ourselves on being prepared when we go before the trustees or the Bankruptcy Judges. We have good working relationships with many of the creditors lawyers. If there is a problem we work hard in trying to resolve the problem before it gets to court. This saves you time and money.
There are several ways in which you can contact this Virginia Bankruptcy Attorney - Telephone: CALL TODAY FOR YOUR FREE TELEPHONE BANKRUPTCY CONSULTATION (804) 358-2222 OR EMAIL OR Visit this Virginia Bankruptcy Lawyers offices, 4509 W. Broad St. Richmond VA 23230
If you would prefer to visit our Bankruptcy Law Office, Please call First for an appointment because we are usually very busy and we would prefer to provide you with prompt professional services and not have you waiting around any longer than necessary
Whichever way you prefer to contact us, please be prepared to tell us why you may need to file for bankruptcy. If it is an emergency and you need to file for bankruptcy right away, we can do this same day as long as you have the documents required to file a petition for bankruptcy.
RANDOLPH FARM EXTENSION PAVILION AT VIRGINIA STATE UNIVERSITY
4415 River Road, Petersburg, VA
The Community Benefits & Economic Impacts of Local Foods
Local Foods: Lessons Learned from a Grower
Romancing the Farm: Creating Lasting Connections between Customers and Small Farms through the Local Food Movement
Farm to School Initiatives: Experiences of Schools and Growers
The Story of Local Food Co-Op
Holistic Approach to Local Foods/Sustainability
Resources/Agencies Supporting Virginia's Local Food Systems
The event is free of charge, but you must pre-register by May 20 with Virginia Cooperative Extension at: firstname.lastname@example.org or by calling 804-524-5611 begin_of_the_skype_highlighting 804-524-5611 end_of_the_skype_highlighting begin_of_the_skype_highlighting 804-524-5611 end_of_the_skype_highlighting
LUNCH WILL BE PROVIDED