Washington DC and Maryland Bankruptcy eNewsletters

The Importance of a Thorough Bankruptcy Creditor List When Filing

Anne filed her bankruptcy six months ago. While all of her creditors have stopped calling and harassing her, one collections agency is still calling her non-stop. Anne keeps telling them that she filed bankruptcy but they keep telling her that they have not received notice of the filing. She has called her bankruptcy attorney and found out that she forgot to tell her attorney about the debt. While her credit report included many of her debts, this one was not listed. Now, her bankruptcy attorney has informed her that she would have to pay additional funds in order to amend her bankruptcy court documents and add the collections agency to her list of creditors. This is why it is very important to include all creditors on your bankruptcy. In order to make sure that all of your creditors are included, make sure to tell your Washington DC or Maryland bankruptcy…
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How Does Chapter 11 Bankruptcy Help Businesses?

Washington DC Bankruptcy Attorney Examines an Unusual Case Bankruptcy is a procedure in which consumers or businesses can repay some or all of their debt on a reasonable plan, and in some cases, eliminate their debt entirely. Declaring bankruptcy guarantees the safety of your belongings, protecting you against the actions of any creditors you may have. For business owners, the most common form of reorganization bankruptcy is Chapter 11, which is a complicated process. Those planning to file this kind of bankruptcy are strongly encouraged to hire an experienced bankruptcy attorney. An Attempt to File For Chapter 11 Bankruptcy Gone Awry Dean Smothers, owner of a Washington DC nightclub called Love, recently had his venue shuttered by the DC Office of Tax Revenue (OTR) after a bewildering series of twists and turns. For several years, Smothers turned hefty profits. At some point, however, the impresario fell behind on taxes, plunging…
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Tips for Safely Using a Credit Card to Build Credit

Talk to Our Maryland Bankruptcy Attorney Are you recovering from a struggle with debt or bankruptcy? Perhaps you are just becoming financially independent and want to prove you are a responsible consumer. Either way, learning to use a credit card effectively to build credit is an important skill to acquire. Learning to build your credit can allow you to qualify for loans, rental applications and can even affect your job prospects. To get you started on the path to establishing credit, here are some tips for using a credit card to build you credit. How to Use Credit Cards Safely and Effectively Find the Right Card for You: Once you can provide proof of income, you may be ready to apply for a credit card of your own. Before you sign up for one, though, you must do your research to find out which card is best for your needs…
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When Filing for Bankruptcy May Not Be the Best Option

In many cases, bankruptcy may not be a person’s best option. The severe consequences of filing for bankruptcy may just not be worth it. A bankruptcy will remain on a person’s credit report for up to ten years, making it difficult to obtain loans at reasonable interest rates, rent apartments, and even get a job in some cases. A debtor will not always be able to keep his or her more important possessions, like homes or cars. In addition, bankruptcy will do nothing to discharge some debts — child support, student loans, and many taxes, for example. If you are facing financial troubles and you wonder whether filing for bankruptcy is feasible for you, a Washington DC or Maryland bankruptcy attorney is available to discuss what you may be able to do. When Bankruptcy is not the Best Option When most of your debt is secured, such as for a…
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