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الثلاثاء، 14 يناير 2014
Bankruptcy: costs of filing bankruptcy with attorney, versus cost of filing using Bankruptcy Petition Preparer. Under the current U.S. Bankruptcy Code or law, the system provides essentially TWO basic categories of outside assistance that a debtor filing for bankruptcy may use - assistance provided by an attorney, and assistance provided by a non-lawyer. And both of these parties come under what is called "Debt Relief Agents or Agencies." Basically, the non-attorney assistance provider, who also goes by a name such as Bankruptcy Petition Preparer (BPP), preparers the documents upon which bankruptcy is filed with the Court for bankruptcy processing, while the attorney (or, more accurately, the help he hires that does such work) prepares the same set of documents, EXCEPT that the lawyer assistance-provider can supposedly give a debtor "legal advice," and can appear, on the debtor's behalf, in the administrative hearing on the bankruptcy case administered by the Court "Trustee" (who is not a Judge, but a court-appointed administrator) that will oversee the bankruptcy case.
The first step you should take to improve your after bankruptcy credit is to check your credit reports for errors. After filing bankruptcy the reporting agencies often times leave bad debts on your record rather than taking them off as required after bankruptcy. Get a copy of your credit report from all three reporting agencies, Experian, Equifax and Trans Union. You're after bankruptcy credit depends upon your credit report, so you need to contact the credit bureaus and insist that those accounts be properly reported as "included in bankruptcy." If you have other serious mistakes on your credit report, those need to be corrected as well. Your credit score is based on information in your credit report, so errors on your report can seriously damage your chances of getting after bankruptcy credit.
After checking your 3 credit reports, your next step to improving your after bankruptcy credit should be to make a household budget. Make a monthly calendar with all of your income listed by date and schedule all of your household bills such as utilities, insurance, house payments, etc to be paid on or before the due date each and every month. The most essential element of acquiring after bankruptcy credit is to prove that you can make your payments on time. Lenders will check your household utility companies for your payment history, so make sure those are never late. Acquiring after bankruptcy credit is really just a matter of proving to your creditors that you can responsibly handle your credit and can repay your debts on time. You have to regain their trust by showing them a good payment track record.
It is, however, on the second major consequence caused by the law, that its impact has become far more profound for the average debtor or bankruptcy filer. Namely, on the fact that the new law has made bankruptcy far more cumbersome for the debtors, and has simply brought rising higher bankruptcy costs, causing debtors to seek cheap affordable bankruptcy without lawyer. Historically, the ability of the average debtor reasonably to file for bankruptcy and to be reasonably discharged of his/her debt burden, and to obtain a fresh start to begin life anew relatively unhindered by the past debts, has been a fundamental but vital and long-standing part of the American law and life.
Don't just grab any secured credit card though, look for one with no application fees or annual charges; you don't have to pay excessive fees to build your after bankruptcy credit. Make sure the card you choose reports to all 3 major credit bureaus. You are not building a good after bankruptcy credit rating unless your payment history is being reported regularly. Finally, make sure it converts to an unsecured card after 12-18 months of on time payments.
Service: In full Service bankruptcy work, the service of the non-lawyer debt relief agent or agency basically involves their staff gathering the various documents and required tons of papers and information together, and orderly arranging them and preparing all the legal forms and paperwork required by the debtor to file for bankruptcy with the bankruptcy court. For the better ones among them (they are not at all equal, some are far better than others, and quite a number of them are just about worthless!), these agencies use workers who are often highly trained and experienced paralegals (they average several years of work and/or training in the industry), and who are skilled at the preparation of legal documents and bankruptcy papers, and are often well versed and knowledgeable in bankruptcy filing law and procedures. With the Full Service bankruptcy petition preparers (at least those of them who are of the reputable and better categories), the debtor tends generally to get a better service and greater attention, and more one-on-one interaction for his or her case, along with the obvious far lower prices.
The first step you should take to improve your after bankruptcy credit is to check your credit reports for errors. After filing bankruptcy the reporting agencies often times leave bad debts on your record rather than taking them off as required after bankruptcy. Get a copy of your credit report from all three reporting agencies, Experian, Equifax and Trans Union. You're after bankruptcy credit depends upon your credit report, so you need to contact the credit bureaus and insist that those accounts be properly reported as "included in bankruptcy." If you have other serious mistakes on your credit report, those need to be corrected as well. Your credit score is based on information in your credit report, so errors on your report can seriously damage your chances of getting after bankruptcy credit.
After checking your 3 credit reports, your next step to improving your after bankruptcy credit should be to make a household budget. Make a monthly calendar with all of your income listed by date and schedule all of your household bills such as utilities, insurance, house payments, etc to be paid on or before the due date each and every month. The most essential element of acquiring after bankruptcy credit is to prove that you can make your payments on time. Lenders will check your household utility companies for your payment history, so make sure those are never late. Acquiring after bankruptcy credit is really just a matter of proving to your creditors that you can responsibly handle your credit and can repay your debts on time. You have to regain their trust by showing them a good payment track record.
It is, however, on the second major consequence caused by the law, that its impact has become far more profound for the average debtor or bankruptcy filer. Namely, on the fact that the new law has made bankruptcy far more cumbersome for the debtors, and has simply brought rising higher bankruptcy costs, causing debtors to seek cheap affordable bankruptcy without lawyer. Historically, the ability of the average debtor reasonably to file for bankruptcy and to be reasonably discharged of his/her debt burden, and to obtain a fresh start to begin life anew relatively unhindered by the past debts, has been a fundamental but vital and long-standing part of the American law and life.
Don't just grab any secured credit card though, look for one with no application fees or annual charges; you don't have to pay excessive fees to build your after bankruptcy credit. Make sure the card you choose reports to all 3 major credit bureaus. You are not building a good after bankruptcy credit rating unless your payment history is being reported regularly. Finally, make sure it converts to an unsecured card after 12-18 months of on time payments.
Service: In full Service bankruptcy work, the service of the non-lawyer debt relief agent or agency basically involves their staff gathering the various documents and required tons of papers and information together, and orderly arranging them and preparing all the legal forms and paperwork required by the debtor to file for bankruptcy with the bankruptcy court. For the better ones among them (they are not at all equal, some are far better than others, and quite a number of them are just about worthless!), these agencies use workers who are often highly trained and experienced paralegals (they average several years of work and/or training in the industry), and who are skilled at the preparation of legal documents and bankruptcy papers, and are often well versed and knowledgeable in bankruptcy filing law and procedures. With the Full Service bankruptcy petition preparers (at least those of them who are of the reputable and better categories), the debtor tends generally to get a better service and greater attention, and more one-on-one interaction for his or her case, along with the obvious far lower prices.
About the Author:
Frank Miller has a Debt Consolidation Blog & Finance, these are some of the articles: Unsecured Wedding Loans - Straightforward Finance To Make It An Important Event You have full permission to reprint this article provided this box is kept unchanged.
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