Need to file bankruptcy?
Divorce raises a whole host of complex issues that can be emotionally and financially devastating. During this time of great upheaval, the last thing anyone wants to deal with is a change in the credit status he or she has worked so hard to achieve. But in many cases, you may have no choice.
The first step for anyone going through a bankruptcy is to obtain copies of your credit report from the three major agencies: Equifax, Experian, and TransUnion. After you’ve gathered the facts, create a worksheet and list all of your creditors. Include the creditor’s name, address, contact number, account number, type of account, status, balance, minimum monthly payment, and who is vested (joint, individual, authorized signer).
There are different types of creditors and each is handled differently during a bankruptcy or divorce. The first one is a secured creditor, meaning it’s attached to an asset (collateral). The most common secured accounts are car loans and home mortgages. You may want to keep the asset (with the debt associated to it) or you may want to release the asset to the lending company and not pay the debt.
The second type of credit account is an unsecured creditor which means there is no asset attached to the loan. Unsecured debt includes credit card debt and medical bills.
Our fees for Chapter 7 Bankruptcy are $2,000 plus court filing fees.
2001 Salvio Street, Suite 11
Concord CA 94520
Chapter 7 Bankruptcy: Hiring Mr. Lamar as your attorney