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Read Our Bankruptcy Lawyer Reviews! More than 800 Five-Star Reviews from People Like You Reviews for Bankruptcy Law Office of Robert Weed 814 customer reviews Average rating:5 5 Laura M. Jones,… There are no words to express our gratitude for the care, attention and expertise demonstrated by this wonderful, caring lady. Laura went […]
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Read Our Bankruptcy Lawyer Reviews! More than 800 Five-Star Reviews from People Like You Reviews for Bankruptcy Law Office of Robert Weed 814 customer reviews Average rating:5 5 Laura M. Jones,… There are no words to express our gratitude for the care, attention and expertise demonstrated by this wonderful, caring lady. Laura went […]
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When you file bankruptcy, they make it hard to pay your car payment. Be prepared to use the mail. You file bankruptcy and you want to keep your car. You know that means you need to keep paying. Seems like the car finance people would welcome your payments; but they make it hard. That may […]
The post When you file bankruptcy, they make it hard to pay your car payment by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.
When you file bankruptcy, they make it hard to pay your car payment. Be prepared to use the mail. You file bankruptcy and you want to keep your car. You know that means you need to keep paying. Seems like the car finance people would welcome your payments; but they make it hard. That may […]
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Filing for bankruptcy can be a hard experience. It can be upsetting when a debtor finds themselves overwhelmed with debts and in over their heads. While many debtors may agree that anonymously filing for bankruptcy may be preferred, it’s not. One critical component to filing for bankruptcy is the creditors’ meeting, otherwise known as the 341 meeting. Be aware that both your bankruptcy trustee and lawyer will play a critical role; the creditors’ meeting is vital to the bankruptcy process. A bankruptcy lawyer can help debtors understand the meeting of creditors and prepare for the 341 meeting. Attendance is imperative; however, it’s essential to know that a lawyer’s representation can help alleviate the stress that may accompany this critical component of the bankruptcy process.
The Role of the Bankruptcy Trustee
When a debtor files for bankruptcy, they will be assigned a bankruptcy trustee by the US Trustee to oversee their case. Be aware that the appointed trustee is not on your side and will work to examine the contents of the bankruptcy petition. During the 341 meeting, debtors will be asked many questions regarding the bankruptcy and the paperwork that has been filed. While the trustee is charged with acting fairly, they are not on your side and will not always be acting in your best interest. Trustees are responsible for reviewing and verifying all information that has been submitted and, depending upon the type of filing, are responsible for oversight of asset liquidation to repay creditors, assistance in reorganizing debts, and more.
Understanding the Meeting of Creditors
When a debtor files for bankruptcy, they must attend the meeting of creditors, otherwise known as the 341 meeting. The process occurs after the bankruptcy filing and involves the debtor and all creditors involved. Trustees are responsible for overseeing the distribution of assets; however, it’s essential to know that roles may vary depending upon the type of bankruptcy filed.
Preparing for the 341 Meeting
The 341 meeting includes the debtor and their creditors. When a person files for Chapter 7 bankruptcy, the 341 meeting is a requirement. The person filing for bankruptcy must attend, while attendance of creditors and their attorneys is optional. The 341 meeting solidifies that all paperwork is legitimate and that no signs of fraud are apparent. During proceedings, debtors are asked several questions, including why they are filing and details about their expenses. Many debtors are incredibly nervous about enduring the 341 meeting; however, a bankruptcy lawyer will share that it’s nothing to be worried about. Much of the time, creditors are not in attendance.
Why Your Attendance is Imperative
Debtors will have several weeks’ notice of the 341 meeting, and attendance is critical. You and your spouse will be required to attend, especially if you have a case together. Your attendance is vital to move the case forward. If you do not attend, your bankruptcy case could be dismissed, which could cause further complications. Typically the process doesn’t have to be as stressful as it’s often made out to be, and in many cases, the process is complete in a matter of minutes.
Having creditors question the debtor can feel overwhelming and even anxiety-provoking. However, know that the creditors’ meeting is not in place for debtors to experience shame or embarrassment for the debts they have incurred. These meetings happen relatively quickly, and while creditors are present, they often occur with respect and courtesy that may seem surprising. During this process, it can feel helpful and supportive to have an experienced bankruptcy attorney from Allmand Law Firm, PLLC by your side.
The post The Meeting of the Creditors appeared first on Allmand Law Firm, PLLC.
Filing for bankruptcy can be a hard experience. It can be upsetting when a debtor finds themselves overwhelmed with debts and in over their heads. While many debtors may agree that anonymously filing for bankruptcy may be preferred, it’s not. One critical component to filing for bankruptcy is the creditors’ meeting, otherwise known as the 341 meeting. Be aware that both your bankruptcy trustee and lawyer will play a critical role; the creditors’ meeting is vital to the bankruptcy process. A bankruptcy lawyer can help debtors understand the meeting of creditors and prepare for the 341 meeting. Attendance is imperative; however, it’s essential to know that a lawyer’s representation can help alleviate the stress that may accompany this critical component of the bankruptcy process.
The Role of the Bankruptcy Trustee
When a debtor files for bankruptcy, they will be assigned a bankruptcy trustee by the US Trustee to oversee their case. Be aware that the appointed trustee is not on your side and will work to examine the contents of the bankruptcy petition. During the 341 meeting, debtors will be asked many questions regarding the bankruptcy and the paperwork that has been filed. While the trustee is charged with acting fairly, they are not on your side and will not always be acting in your best interest. Trustees are responsible for reviewing and verifying all information that has been submitted and, depending upon the type of filing, are responsible for oversight of asset liquidation to repay creditors, assistance in reorganizing debts, and more.
Understanding the Meeting of Creditors
When a debtor files for bankruptcy, they must attend the meeting of creditors, otherwise known as the 341 meeting. The process occurs after the bankruptcy filing and involves the debtor and all creditors involved. Trustees are responsible for overseeing the distribution of assets; however, it’s essential to know that roles may vary depending upon the type of bankruptcy filed.
Preparing for the 341 Meeting
The 341 meeting includes the debtor and their creditors. When a person files for Chapter 7 bankruptcy, the 341 meeting is a requirement. The person filing for bankruptcy must attend, while attendance of creditors and their attorneys is optional. The 341 meeting solidifies that all paperwork is legitimate and that no signs of fraud are apparent. During proceedings, debtors are asked several questions, including why they are filing and details about their expenses. Many debtors are incredibly nervous about enduring the 341 meeting; however, a bankruptcy lawyer will share that it’s nothing to be worried about. Much of the time, creditors are not in attendance.
Why Your Attendance is Imperative
Debtors will have several weeks’ notice of the 341 meeting, and attendance is critical. You and your spouse will be required to attend, especially if you have a case together. Your attendance is vital to move the case forward. If you do not attend, your bankruptcy case could be dismissed, which could cause further complications. Typically the process doesn’t have to be as stressful as it’s often made out to be, and in many cases, the process is complete in a matter of minutes.
Having creditors question the debtor can feel overwhelming and even anxiety-provoking. However, know that the creditors’ meeting is not in place for debtors to experience shame or embarrassment for the debts they have incurred. These meetings happen relatively quickly, and while creditors are present, they often occur with respect and courtesy that may seem surprising. During this process, it can feel helpful and supportive to have an experienced bankruptcy attorney from Allmand Law Firm, PLLC by your side.
The post The Meeting of the Creditors appeared first on Allmand Law Firm, PLLC.
Filing for bankruptcy can be a hard experience. It can be upsetting when a debtor finds themselves overwhelmed with debts and in over their heads. While many debtors may agree that anonymously filing for bankruptcy may be preferred, it’s not. One critical component to filing for bankruptcy is the creditors’ meeting, otherwise known as the 341 meeting. Be aware that both your bankruptcy trustee and lawyer will play a critical role; the creditors’ meeting is vital to the bankruptcy process. A bankruptcy lawyer can help debtors understand the meeting of creditors and prepare for the 341 meeting. Attendance is imperative; however, it’s essential to know that a lawyer’s representation can help alleviate the stress that may accompany this critical component of the bankruptcy process.
The Role of the Bankruptcy Trustee
When a debtor files for bankruptcy, they will be assigned a bankruptcy trustee by the US Trustee to oversee their case. Be aware that the appointed trustee is not on your side and will work to examine the contents of the bankruptcy petition. During the 341 meeting, debtors will be asked many questions regarding the bankruptcy and the paperwork that has been filed. While the trustee is charged with acting fairly, they are not on your side and will not always be acting in your best interest. Trustees are responsible for reviewing and verifying all information that has been submitted and, depending upon the type of filing, are responsible for oversight of asset liquidation to repay creditors, assistance in reorganizing debts, and more.
Understanding the Meeting of Creditors
When a debtor files for bankruptcy, they must attend the meeting of creditors, otherwise known as the 341 meeting. The process occurs after the bankruptcy filing and involves the debtor and all creditors involved. Trustees are responsible for overseeing the distribution of assets; however, it’s essential to know that roles may vary depending upon the type of bankruptcy filed.
Preparing for the 341 Meeting
The 341 meeting includes the debtor and their creditors. When a person files for Chapter 7 bankruptcy, the 341 meeting is a requirement. The person filing for bankruptcy must attend, while attendance of creditors and their attorneys is optional. The 341 meeting solidifies that all paperwork is legitimate and that no signs of fraud are apparent. During proceedings, debtors are asked several questions, including why they are filing and details about their expenses. Many debtors are incredibly nervous about enduring the 341 meeting; however, a bankruptcy lawyer will share that it’s nothing to be worried about. Much of the time, creditors are not in attendance.
Why Your Attendance is Imperative
Debtors will have several weeks’ notice of the 341 meeting, and attendance is critical. You and your spouse will be required to attend, especially if you have a case together. Your attendance is vital to move the case forward. If you do not attend, your bankruptcy case could be dismissed, which could cause further complications. Typically the process doesn’t have to be as stressful as it’s often made out to be, and in many cases, the process is complete in a matter of minutes.
Having creditors question the debtor can feel overwhelming and even anxiety-provoking. However, know that the creditors’ meeting is not in place for debtors to experience shame or embarrassment for the debts they have incurred. These meetings happen relatively quickly, and while creditors are present, they often occur with respect and courtesy that may seem surprising. During this process, it can feel helpful and supportive to have an experienced bankruptcy attorney from Allmand Law Firm, PLLC by your side.
The post The Meeting of the Creditors appeared first on Allmand Law Firm, PLLC.
FDIC Consumer News: Beware, It’s a Scam!
Avoid phishing, smishing, vishing, and other scams
FDIC Consumer News – October 2020
Criminals are constantly trying to steal consumers’ personal data using fake emails, websites, phone calls, and even text messages. They use a variety of ways to try to trick people into providing Social Security numbers, bank account numbers, and other valuable information. In many cases, their goal is to steal money from you. This article defines some terms used for different online scams and how they work, so you can protect your money.
How do scammers contact their victims?
Phishing is a term for scams commonly used when a criminal uses email to ask you to provide personal financial information. The sender pretends to be from a bank, a retail store, or government agency and makes the email appear legitimate. Criminals often try to threaten, even frighten people by stating “you’re a victim of fraud” or some other urgent-sounding message to trick you into providing information without thinking. Don’t do it.
Smishing is similar to phishing, but instead of using email, the criminal uses text messaging to reach you. Same idea, they pretend they are from an organization you might know and trust (such as a bank or the IRS) and try to get your personal information.
Vishing, similar to phishing and smishing, is when scammers use phone services such as a live phone call, a “robocall,” or a voicemail to try to trick you into providing personal information by sounding like a legitimate business or government official.
What are the different types of scams? 
.fusion-body .fusion-builder-column-1{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-1 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:980px) {.fusion-body .fusion-builder-column-1{width:100% !important;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-1{width:100% !important;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:980px) {.fusion-title.fusion-title-1{margin-top:15px!important;margin-bottom:0px!important;}}@media only screen and (max-width:640px) {.fusion-title.fusion-title-1{margin-top:10px!important;margin-bottom:10px!important;}}MUSINGS BY DIANE:
Technology is both a blessing and a curse. It helps us to stay in touch with our family, friends and the world. But it also exposes us to dangers that our parents never contemplated. People we never met, who live on the other side of the world and don’t know us can steal our lives. Keep informed on the latest scams. Keep your technology updated, or don’t use it at all (those are your only two choices).
Use your common sense (this is a theme you see throughout all my Musings). Remember P.T. Barnum’s “quote” (but there is no evidence he actually said this) “there is a sucker born every minute”. Don’t be that sucker.
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- COVID-19 Scams – Warning from FTC
- 60 and Over in the Time of COVID-19? Tips to Stay Financially Healthy.
- Bankruptcy after COVID-19. What Should You Do to Avoid Mistakes?
- 10 Things You Need to Know Before Filing Bankruptcy
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https://www.nydailynews.com/new-york/ny-tlc-taxi-medallion-oversight-20201015-2pyve3pmfreuvfsii6mpjh43ta-story.htmlOriginally appeared on NY Daily NewsNew York City Council members hope a new office within the Taxi and Limousine Commission will keep taxi medallion owners from being taken for a ride.The Council on Thursday will vote on a bill to establish a new “Office of Financial Stability” within the TLC designed to keep tabs on the health of the city’s crumbling yellow cab industry. Bronx Councilman Ritchie Torres, the bill’s sponsor, said he wanted to prevent a repeat of history when the city sold medallions or approved medallion sales at prices of $1 million and more. 
The new office would give the TLC a “statutory obligation to oversee and regulate the financial stability of the medallion market,” Torres said.Medallions give yellow cabs the exclusive right to street hails in most of the city — but their value began to plummet in 2012 when Uber and other e-hail companies arrived in New York. Many medallion owners took out home loans or refinanced against their medallions — and are now drowning in insurmountable debt. The COVID-19 pandemic made things even worse, causing yellow cab ridership to fall by 92% in June from the same month of 2019.
The Office of Financial Stability — which would open in November 2021 — won’t necessarily help cabbies who are now underwater, but it should prevent others from a similar fate, Torres said. “We cannot afford to have the TLC auction off medallions at speculative prices,” said Torres. “We cannot allow the TLC to approve medallion transfers with speculative loans.” With the majority of ride hails in New York being taken by Uber and Lyft, it’s unclear if the medallion values will ever rebound to sky-high levels. But Torres — the Democratic nominee for New York’s 15th Congressional district in the Bronx — said he was concerned by the “growing presence of private equity" in the medallion market, including MarbleGate, a Connecticut-based firm with roughly 4,000 New York taxi medallion loans in its portfolio. “I do not take for granted that there could never be a medallion bubble again,” said Torres. “I hope for the best but I prepare for the worst.”
Deciding to file for bankruptcy is one thing, but knowing which types of bankruptcies to file is another. Individuals who are struggling with debt can avail of the different types of bankruptcies to eliminate or restructure their debts, but it’s important to know how your circumstances affect your bankruptcy filing. This article discusses the requirements for eligibility and advantages of the two types of consumer bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy.
Chapter 13 Bankruptcy
A Chapter 13 or wage earner’s bankruptcy is a type of consumer bankruptcy where the debtors reorganize a portion of what is owed into a debt repayment plan. In a Chapter 13 bankruptcy filing, you’ll be making payments to creditors for three to five years to pay off your debts. Upon completion of the plan, you’ll receive a bankruptcy discharge and will be released from personal liability for the discharged debt.
Eligibility
A petitioner qualifies for Chapter 13 bankruptcy if:
- They have enough disposable income besides their monthly payments; and
- Their debts don’t exceed the debt limits for secured debts and unsecured debts.
Consult with a bankruptcy lawyer to know which of your debts count towards the debt limit and whether you are eligible to file for bankruptcy Chapter 13.
Additionally, you can’t file Chapter 13 if you’ve received a Chapter 7 discharge in the last four years, or a Chapter 13 discharge in the last two years.
Advantages
Filing bankruptcy of this type can help a debtor catch up on past-due car loans and mortgage payments to stop foreclosure and repossession. Most petitioners filing for bankruptcy Chapter 13 do so to keep their home and car in bankruptcy.
Besides, the amount you’ll need to repay depends on your monthly income, your living expenses, and the value of your nonexempt property. This helps ensure that your debt-repayment plan is feasible for you.
Chapter 7 Bankruptcy
A Chapter 7 bankruptcy, also known as straight or liquidation bankruptcy, the debtor gets their debts wiped out without needing to have a payment plan, in exchange for liquidating their assets and nonexempt property. However, you’ll be allowed to keep what you need to work and maintain a standard of living.
Eligibility
To be eligible to file bankruptcy Chapter 7, you’ll need to pass a means test, which compares your disposable income to the state median income levels for your household size. If yours is above the median, you won’t be qualified to declare bankruptcy under Chapter 7.
There are limits to how often you can file and declare Chapter 7 bankruptcy. You can’t file successive Chapter 7 bankruptcies within eight years. You also won’t be able to receive a Chapter 7 discharge if you’ve previously wiped your debts with Chapter 13 bankruptcy in the past six years unless you’ve completed your repayment plan.
Advantages
The primary advantage of Chapter 7 bankruptcy filings is that it can wipe most consumer debts and takes around six months to complete the bankruptcy process. This proves helpful for borrowers who have limited income and can’t repay their lenders.
Non-dischargeable Debt
Some loans or debts are considered non-dischargeable and can’t be eliminated through bankruptcy. These include alimony, child support, tax debts, student loans, and other court-ordered payments.
Are you considering filing for bankruptcy? Getting bankruptcy help from a legal professional is a smart move.
If you’re thinking of declaring bankruptcy, make sure you have all the bankruptcy information you need to make an informed decision. It may be cheaper to DIY your bankruptcy petition but there is a risk of having your bankruptcy filing dismissal if there is an oversight in the bankruptcy forms. Call Northwest Debt Relief Law Firm and schedule a free consultation with our experienced bankruptcy attorneys to discuss your debt relief options today.
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Updated daily, this blog will keep you informed on the latest bankruptcy news! 
Learn more about how Bankruptcy works and what you need to know.