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From the category archives: Ron Lundquist Bankruptcy Blog

Bankruptcy Basics

Filing for Bankruptcy: 3 Critical Mistakes to Avoid

Filing for bankruptcy can be a complex, confusing, and overwhelming endeavor. Without legal advice, you won’t know if your intended course of action is permissible by law, and even if it is, there may be undesirable legal implications down the road you’re not yet aware of. Below, we discuss three of the most common mistakes we see that can derail your bankruptcy filing process.

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Should You File for Bankruptcy? 3 Signs It’s Time

Feeling overwhelmed by your debts can be crushing. Anxiety about monthly payments, household expenses, persistent debt collectors, and ever-accumulating interest is enough to make anyone feel confused and even helpless. Misconceptions around filing for bankruptcy tend to paint the process in a seriously negative light; however, if you’re truly struggling, bankruptcy can provide you with an opportunity for a fresh start. How do you know when it’s time to take the leap and file? Here are a few of the telltale concerns that allow my clients and I to reach a consensus on a bankruptcy filing decision:

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Credit Repair: How to Bounce Back After Filing for Bankruptcy

Filing for bankruptcy—whether Chapter 7 or Chapter 13—will negatively impact your credit score; there's simply no way around it. However, you don't have to allow bankruptcy to keep your credit (or you) down. Recovering from bankruptcy is certainly doable, but it requires concrete goal-setting, diligence, and adherence to a strict budget and payment schedule. Curious about what you need to do to bounce back after such an impactful life decision? Below, you'll find helpful tips on how to repair your credit score and regain eligibility for future credit considerations.

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The Difference Between Chapter 7 and Chapter 13 Bankruptcy

If you’re in a situation where you are considering filing for bankruptcy, it’s important to know all your options. With the help of a reputable attorney, this process can be made easier for you. At Ron Lundquist, Attorney at Law, I can help you with all of your bankruptcy questions and needs. In addition to fully analyzing your finances to find solutions, I can recommend alternatives to bankruptcy and explain the two primary types of bankruptcy I handle. When my clients file for bankruptcy, I typically suggest filing for either Chapter 7 or Chapter 13 bankruptcy. Each of these options has its own qualifications and entails different things. Here, I will walk you through both of these options, so I can help you find the option that works best for you.

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Don’t Do These Three Things When Filing For Bankruptcy

Knowing what you should and should not do when you file for bankruptcy can be difficult. For this reason, you should always consult a reputable lawyer, like me, to ensure you are going about the process the right way. Not only will I ensure you are following the correct process, but I will also make sure you do not partake in certain actions that could get you into further legal trouble, such as transferring money or property. Here at Ron Lundquist, Attorney at Law, I will go through what you should avoid when filing for bankruptcy.

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What Should You Ask a Bankruptcy Attorney Before Filing?

Though you may think you know what type of bankruptcy to file for, it’s important to consult an experienced attorney beforehand to ensure it’s the right step for you. A consultation with me can ensure you’re taking the proper steps. I’ll analyze your paperwork and make sure you’re protected as you navigate this life change. Here, I will advise you on things to consider when you file for bankruptcy.

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Questions a Bankruptcy Trustee May Ask You

When you file for bankruptcy, you will be required to attend a hearing known as a meeting of creditors (also called a 341 hearing). During the meeting, you will answer questions related to the information you provided in your documents. A bankruptcy trustee appointed to your case will conduct the meeting and ask the questions.

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How to Prepare for the Bankruptcy Meeting of Creditors

Before you can discharge your debts in a bankruptcy, you will attend a mandatory hearing known as the meeting of creditors (or a 341 hearing). The meeting takes place 20 to 40 days after you file your bankruptcy. During the meeting, the bankruptcy trustee assigned to your case may ask you a series of questions.

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Who Can View My Bankruptcy Record and Why Does it Matter?

Filing a personal bankruptcy case is public record. Your case, however, is not something that the general public can obtain easily. Although various websites provide this information, they’re not as easy to access as you would think. Most of these sites require paid subscriptions - something that most people will not find valuable.

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5 Questions to Ask a Bankruptcy Attorney

Before you begin the process of filing bankruptcy, you’ll need to hire a skilled bankruptcy attorney to go over all the paperwork. Only an attorney can make sure you are protected through this challenging processing. Below are some questions that will come up during our first meeting. I recommend that you write down a list of other questions you may have during our session as well. I am here to answer your questions and help you in any way I can.

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