It is important to periodically check your credit report to make sure it is accurate. While you will see a lot of advertising for a “free” report, you will often find that it requires you to sign up for their services, etc. Basically, buy this and we’ll give you YOUR report for “free.” What these sites don’t tell you is that you are entitled by law to a TRULY FREE annual report. Go to this site: https://www.annualcreditreport.com/cra/index.jsp If you need help disputing inaccuracies, feel free to contact our office at (213) 382-2926 for your free consultation.
When you file for bankruptcy and you have a lawsuit pending in state court it is important to give notice of your bankruptcy in that state court. Use this form in the Los Angeles, CA state courts: http://www.courtinfo.ca.gov/forms/fillable/cm180.pdf
Credit bureau reports are limited in how they represent foreclosures today, so it’s generally not possible to tell from the credit report if a reported foreclosure is a short sale, deed in lieu of foreclosure, settled account, regular foreclosure, or some other variation. The FICO® score treats all of these descriptions that appear on credit reports as serious delinquencies, so they have an impact on the score similar to the impact from a charge off, tax lien or account included in bankruptcy. Repost from www.myfico.com There is a lot of misinformation out there. Please make sure that you are getting [...]
Lenders are failing to do loan modifications despite financial incentives by the government to do just that. http://www.boston.com/business/articles/2009/07/07/lenders_avoid_redoing_loans_fed_concludes/?page=1 What can you do? You have options, one of which is bankruptcy. Talk to an experienced bankruptcy attorney.
If you are considering filing for bankruptcy, you have likely heard about the dreaded “Means Test.” It is a test under the new bankruptcy law you have to “pass” in order to qualify for Chapter 7 bankruptcy. The way you can determine whether you pass is you look at your gross monthly income for the previous 6 months, divide the number by 6 and multiply by 12. Sounds fun! This is one of the many reasons getting an experienced bankruptcy attorney is advisable. You compare that number with the median income in your state. The median income varies depending on [...]