Divorce Attorney – Making Sure You Get What’s Fair
No one gets married expecting to divorce. Unfortunately, over fifty percent of the couples that get married these days will end up in court fighting for legal separation. Some people were incompatible from the beginning. Others may have grown apart over the years. And still others may be dealing with issues of infidelity or spousal abuse. Whatever the reason that instigated the separation, you need to make sure you have someone in your court that will fight for your parental and financial rights. A divorce attorney can ensure that you get everything you are entitled to should you find yourself in the position of getting a divorce.
Even if the divorce is an amicable one, a divorce attorney can help you navigate the legal waters and make sure you don’t get taken advantage of by your ex-spouse or the court system. This is most often seen in the awarding of parental custody of children or the assigning of financial support.
Can You Discharge Student Loans through Bankruptcy?
July 1st, 2010 at 9:11 am
If After accumulating student loan debt, sometimes consumers get into financial trouble. They leave school and get a job, but get in over their heads with their finances. Their student loan repayments are just one of many bills that pile up and out-match their ability to pay. At that moment, they may consider bankruptcy protection. Since their student loans are "debt," they may believe that these loans will certainly be wiped out in the bankruptcy. However, the chances of this happening are slim, and they may have alternatives for managing their student loans.
Student (educational) loans may include the Federal Stafford, Federal PLUS, and/or private loans. Over time, the law has become increasingly restrictive about who can include these loans in a bankruptcy. Educational loans are in the non-dischargeable category except in cases of "undue hardship."
The test for undue hardship usually involves finding out if, based on current...
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Your Credit Score and Bankruptcy
June 29th, 2010 at 10:19 am
It is not easy to decide to file for bankruptcy protection. What if you need a loan in the near future? Will your credit rating be so damaged that you won't qualify for a loan at a reasonable rate? The good news is that, most of the time, bankruptcy does not do as much damage to your credit score as you might expect. Long-term, it's usually possible to get your credit score high enough for you to get a loan that isn't a rip-off.
"If you sleep on the floor, you can't fall out of bed." If you are considering bankruptcy, your credit score is probably already low. Most likely, you have high balances, late payments, and other repayment problems. Therefore, your score might not go down much...
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Chapter 7 – Is this the Right Bankruptcy Filing For You?
May 4th, 2010 at 8:10 pm
If you are suffering under a mountain of debt with collection agents hounding you day and night, then the only option you may have to end that stress is to file for bankruptcy. The protection that bankruptcy offers can be a life saver to people who have fallen on hard times. The creditors will stop calling, foreclosure proceedings will be halted, and gives you a chance to make a fresh start. But just as important as making the decision to file for bankruptcy is determining which one is the best option for you, Chapter 7 or Chapter 13.
A Chapter 7 bankruptcy filing is a petition to the court to eliminate all eligible debts on the table. This type of filing is actually called a liquidation bankruptcy because some of your assets may be sold to pay creditors. A Chapter 13 filing is a request to reorganize the petitioner’s debts. This type of filing is called a reorganization bankruptcy, or wage earners plan, because you pay a monthly amount set by the court and that money is disbursed to creditors. You can take up to five years to pay off all your debt under this plan.
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Life After Bankruptcy
May 4th, 2010 at 8:05 pm
There are many reasons why people file for bankruptcy. Most people live paycheck to paycheck and are dumped into financial ruin because of a job loss. Other people experience unforeseen medical troubles and get buried underneath a mountain of doctor bills. And yes, there are those people who try to live a champagne life on a beer budget with nothing but supersized credit card debt to show for their efforts. Regardless of the reason for filing, after the process has completed and you receive your discharge papers in the mail, it is time to start rebuilding your life after bankruptcy.
The first step is to evaluate what led to the bankruptcy in the first place. This will give you clues as to how to prevent a repeat of the situation. If the problem stemmed from living paycheck to paycheck, then your goal should be to have an emergency savings fund for unexpected expenses. If poor money management skills were at the heart of your trip to the courts, then investing in a book or course that will teach you how to handle your money would be well worth the expense. Sit down with your significant other and have an honest discussion about what happened and what you each can do to ensure a more stable financial future.
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Can You Settle Your Credit Card Debts
May 3rd, 2010 at 3:54 pm
Consumers with overwhelming credit card debt may be tempted to seek help from “debt settlement” or “debt consolidation” companies that promise to erase their debt for pennies on the dollar, but the Federal Trade Commission (FTC), the nation's consumer protection agency, urges caution when dealing with these companies.
Debt settlement companies claim they can negotiate with your creditors to reduce the amount you owe. Some say they can arrange for your debt to be paid off for a much lower amount--anywhere from 30 to 75 percent of the balance you owe the creditor.
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Cyberbullying: What to Do If it Happens to Your Teen
April 8th, 2010 at 8:49 pm
Cyberbullying, using the Internet, cell phones, or another type of communication technology to hurt or embarrass others, is an increasingly common problem among today’s youth. In a recent study conducted by the National Crime Prevention Council (NCPC) and Harris Interactive Inc., more than 43% of teens ages 13-17 have experienced cyberbullying within the past year.
According to the Pew Internet and American Life Project, about 93% of teens use social media Web sites, and 55% of online teens have created a profile through social networking sites such as MySpace and Facebook. These sites allow teens to express their feelings online for the cyber world to view. Often motivated by anger, frustration or boredom, cyberbullies harass individuals by posting negative comments and pictures.
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Ten Facts about Mortgage Debt Forgiveness
March 8th, 2010 at 2:13 pm
The Internal Revenue Service has some important information about mortgage debt forgiveness that may be important to you if your mortgage debt was partly or entirely forgiven during tax years 2007 through 2012. If you fall into that category, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness.
1. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence.
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Why you should not be Ashamed if you have to File Bankruptcy
December 29th, 2009 at 3:03 pm
Why you should not be Ashamed if you have to File Bankruptcy
Rick D. Banks, Attorney at Law
Everybody is struggling. We are all exasperated with endless debt issues. Debt is difficult to handle and even more stressful are the problems that typically complement the financial suffering. It’s like the “domino effect.” If we have lost our jobs, then everything is affected, we panic and become desperate, and soon we see our savings dwindle. We have been tempted to rob our 401K, but we know better. Most likely, we have already second mortgages on our home and borrowed money from our family. We can’t stop it; we are going further into debt.
We have done everything we can think of: cut up our credit cards, scaled down our groceries, stopped eating out and taking our family to movies. We have cut our budget to the core; we don’t know what to do next. Bankruptcy seems as the last resort, but we're devastated and scared; we feel ashamed and guilty, but we shouldn’t be because filing for bankruptcy can actually improve our financial situation. As a bankruptcy attorney, I hope that articles like this one can help remove the stigma on the proceedings.
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20 Do's And Dont's With Divorce
September 24th, 2009 at 9:54 am
I can tell you from experience that when word gets out that you are battling a divorce, people come out of the woodwork with all sorts of advice. Some of it may be genuine, but most of it is just crap. The problem is how are you supposed to know what exactly needs to be done in order to protect your assets and your family. Like it or not, the woman/man that you married is not the same woman/man that you are divorcing. There is a sort of "survival mode" that kicks in and they become a completely different person. If the person becomes hell bent on getting everything he/she can, I guarantee that they have an attorney that promises to get it for them. So almost immediately you have to kick it into defensive mode as fast as you can.
This is why I have put together a series of Do's and Don'ts that you can put some faith in. This is highly researched information. Information that you can find in places all over the internet. Later on, I will show you some of the best resources that I have come across during my ordeal.
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Phone No: (559) 222-4891
The Law Office of Rick D. Banks
776 E. Shaw Avenue, Suite 206, Fresno, CA 93710.
Rick@CentralValleyLaw.com
