Bankruptcy Law | Law Firm Newswire - Part 4

Des Moines, IA (Law Firm Newswire) October 10, 2012 – For those who have declared Chapter 13 bankruptcy, rebuilding credit is similar to a Chapter 7 bankruptcy. It does not matter which Chapter someone files under when it involves rebuilding their credit. The discharge, or conclusion of the bankruptcy process, is much the same in each instance. The first step for a discharged debtor is to get their name back into credit reporting data bases, with a notation that shows on time payments over a period of time. It is not complicated. It just takes work on the part of […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) October 3, 2012 – Many debtors do not believe it, but they can recover from bankruptcy. Filing for bankruptcy is a very difficult and highly emotional decision; many do not take the matter lightly, and have many questions to discuss with their Iowa bankruptcy lawyer. Some of the questions may include, but are not limited to, how to get new credit in the future, how filing for bankruptcy will affect their credit rating and whether or not they will be able to rent or buy a home. Many individuals are concerned about what kind […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) September 13, 2012 – Many debtors are surprised to discover declaring bankruptcy affects their car insurance premiums. Many Americans understand that when they file for bankruptcy, their credit reports reflect that fact. What many do not realize is that more and more auto insurance companies are checking the credit ratings of existing and potential clients. This may well affect insurance premiums, according to Kevin Ahrenholz, an Iowa bankruptcy lawyer. According to recent statistics released by Nationwide Insurance, roughly 92 percent of car insurance companies do use credit scoring to calculate auto insurance premiums. Insurers […]


Continue reading full article »

Dallas, TX (Law Firm Newswire) September 12, 2012 – A unanimous jury verdict found in favor of the plaintiff in the recent trial of Shannon Whaley v. Morris & Montgomery, Inc, and John Hickman (No. DC-10-14604) in the 68th Judicial District Court, Dallas County Texas, for violations of the Fair Debt Collection Practices Act(FDCPA), the Texas Debt Collection Practices Act (TDCPA) and the Texas Deceptive Trade Practices Consumer Protection Act (DTPA).The plaintiff was represented by Noah Radbil of Weisberg & Meyers, LLC, Attorneys for Consumers. Lockhart, Morris & Montgomery and John Hickman were represented by Robbie Malone of Robbie Malone, […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) September 7, 2012 – Filing for bankruptcy is not an easy process. It is a smart move to work with an Iowa bankruptcy lawyer. Filing for bankruptcy protection is an agonizing process. It takes a lot of thought and consideration about the consequences and whether filing for bankruptcy is truly necessary. Most people choose to file for bankruptcy by working with a competent bankruptcy lawyer, but there is the option of filing pro se. However, filing pro se still means having a good knowledge of the applicable laws, says Iowa bankruptcy lawyer Kevin Ahrenholz. […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) August 16, 2012 – Bankruptcy lawyers are often asked if active duty military may file for bankruptcy. The answer is yes. There are a lot of people who believe that active duty military personnel are not allowed to file for bankruptcy. While military personnel are held to a higher standard of conduct than regular citizens, they do not have to give up the right to declare bankruptcy indicated Kevin Ahrenholz, an Iowa bankruptcy lawyer. Even dedicated military personnel may run out of money before they have come to the end of the month, and […]


Continue reading full article »

Brandon, FL (Law Firm Newswire) August 15, 2012 – The newly-created United States Consumer Financial Protection Bureau (CFPB) recommended to Congress that people be allowed to erase some of their student loan debt if they file for bankruptcy. However, even if the change is made, it may not bring the needed relief debtors want. “Filing for bankruptcy is a viable option for many people with unmanageable debt,” said O. Reginald Osenton, a Brandon bankruptcy attorney. “However, it is important for people to understand that not all student loan debt will be discharged.” The CFPB, created to protect consumers from unfair […]


Continue reading full article »

Brandon, FL (Law Firm Newswire) August 8, 2012 – Many people today find themselves in debt. Some are surprised when a company they never heard of buys their debt and then pursues an aggressive collection strategy, which may include harassing phone calls or filing a lawsuit against the debtor. Debt buying is legal, but some collection practices are not. “If you are being harassed by phone calls from debt collectors, you should know that the Fair Debt Collection Practices Act (FDCPA) protects you,” said Brandon bankruptcy attorney O. Reginald Osenton. “Fending off debt collectors is often one of the first […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) August 6, 2012 – There are ways individuals and businesses can avoid being forced into involuntary bankruptcy. The more debt incurred by an individual or company, the higher the risk that creditors will file bankruptcy against them. This is referred to as involuntary bankruptcy, and in some cases, it may be justified. In other cases, it is necessary for the debtor to defend against involuntary bankruptcy petitions in order to avoid surrendering assets or being forced to sell them. Individuals or businesses who find themselves in receipt of an involuntary bankruptcy petition need to […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) July 19, 2012 – If one spouse declares bankruptcy, it may affect the other spouse. This depends on a number of factors. Whether or a person’s spouse will be affected by their partner declaring bankruptcy, depends on a variety of different factors. Those things may include, the income of the spouse who is not filing for bankruptcy, joint liability for debts and if they own property. No two cases are the same, which is why it is best to not assume that just because a friend or neighbor went through bankruptcy protection, that each […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) July 6, 2012 – Many debtors wonder how they can remove a bankruptcy from their credit report. The short answer is they cannot. Many debtors that declared bankruptcy want to know how they can get rid of that notation on their credit reports noted Iowa bankruptcy lawyer, Kevin Ahrenholz. The answer to that question is they cannot get rid of the notation. It is a record of what happened in the debtor’s financial life and becomes part and parcel of their credit history. The only way it could be completely removed, would be if […]


Continue reading full article »

Brandon, FL (Law Firm Newswire) June 20, 2012 – A good health plan can prevent financial disaster, but when deductibles are higher than a patient can handle, insured individual may still require a bankruptcy. Americans look to insurance policies to be there when something unpredictable happens. Whether it’s an oak limb falling through the roof, an expensive car accident, or someone’s health, people assume that having coverage means they don’t have to worry. However, with rising health care costs and higher health insurance premiums, some people are raising deductibles to unsupportable levels. At some point, a deductible becomes so high […]


Continue reading full article »

Brandon, FL (Law Firm Newswire) June 11, 2012 – A greater percentage of bankruptcies are filed as joint cases. Combining two incomes can often strengthen a household’s finances. Two earners can contribute more to savings and retirement planning. Unfortunately, a two-income household often becomes dependent on both partners, so when one loses a job, the household can suffer from underemployment. Couples are more likely to purchase large luxury items, such as vacation homes, and often choose to live in larger homes in safer neighborhoods. However, even with proper planning, an unexpected event in the family can lead a couple to […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) May 25, 2012 – Declaring bankruptcy means all existing bank accounts and other financial information provided is checked carefully for the possible presence of fraud. Once a debtor has filed for bankruptcy protection, the judge appoints a trustee to handle their case. If it is a Chapter 7, the assets are sold by the trustee, with the money going to pay creditors. In a Chapter 13 bankruptcy, the trustee monitors the payment plan created by the debtor, and takes the disposable income left over each month, to pay creditors. In addition, the trustee monitors […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) May 7, 2012 – Debtors that fall two months behind on their vehicle payments, usually have their car repossessed. Once a debtor has gone past being two months in arrears on their vehicle payments, and keeps missing those monthly payments, the finance company or back, classifies the account as charged-off. This should not be confused with the term discharged, although many in this situation do assume their debt has been discharged. In reality, a charge-off does not mean the vehicle owner is no longer responsible for the loan. This applies even after the vehicle […]


Continue reading full article »

Brandon, FL (Law Firm Newswire) April 26, 2012 – To protect creditors from bankruptcy abuse, it is mandatory for people going into bankruptcy to go through credit counseling about six months before filing. The credit counseling has to be valid in the bankruptcy court, so it is important to research the requirements to make sure the counseling meets the criteria. “The bankruptcy petition will likely be thrown out if the credit counseling was not done correctly,” said Brandon bankruptcy attorney Reginald Osenton. “Make sure to use a pre-approved counseling agency, and get it done as soon in the process as […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) April 25, 2012 – New credit cards are tempting to use before filing for bankruptcy. This is not a wise plan. If an individual is facing a bankruptcy, and also received a new credit card, the temptation exists to go ahead and use the card before filing a petition. This is not a wise move, indicated Iowa bankruptcy lawyer Kevin Ahrenholz. If the card is used just prior to filing, this may send a clear signal to the courts that the debtor is attempting to defraud the system, particularly if large items were bought. […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) April 10, 2012 – Declaring bankruptcy is not an easy decision. However, it does not carry the same stigma as it once did. Filing bankruptcy allows a debtor to start their lives over again, and this may happen more than once during the lifetime of a debtor, Iowa bankruptcy lawyer Kevin Ahrenholz indicated. Filing more than once is possible, as the definition of bankruptcy is the same, no matter if it happens right now or five to ten years in the future. Bankruptcy is when an individual is unable to keep up with the […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) March 30, 2012 – A debtor has to reaffirm their vehicle if they wish to keep it. This is in spite of being current on all payments. There is a new law relating to how bankruptcy courts handle repossessing a secured asset. It started with Hall vs. Ford Credit in which the debtor had to endorse his vehicle if he were intending to keep it. This was applicable even if the payments on the vehicle were up-to-date, Iowa bankruptcy lawyer Kevin Ahrenholz pointed out. Before this new law was handed down, when a debtor […]


Continue reading full article »

Des Moines, IA (Law Firm Newswire) March 14, 2012 – Some debtors immediately tell their creditors they are declaring bankruptcy. This is not always a wise move. It is very tempting to tell a persistent and irritating creditor that there is a bankruptcy pending to stop them from having any further contact about an outstanding debt. However, it is not always a wise idea to share that kind of information with creditor noted Kevin Ahrenholz, a Waterloo bankruptcy lawyer. Warning the creditor can backfire, and since debtors do not have any protection until they file, it is best they wait […]


Continue reading full article »