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Author Archives: Michael J. Berger

Can You Rebuild your Credit with Bankruptcy?

Believe it or not your credit score may improve after you file for bankruptcy. Most people wait to file a bankruptcy petition after their credit score falls due to accumulated negative marks on your credit report, such as “unpaid,” “past due,” “charged-off”.  This is the type of debt that creditors consider unlikely to be collected. […]

What Are the Benefits of a Chapter 13 Bankruptcy?

Despite some common beliefs, it is often an unfortunate event, such as an illness – not overspending – that pushes people into bankruptcy. Chapter 13 has many benefits for those seeking relief by offering debtors a manageable debt repayment plan. With the right guidance, Chapter 13 filers regain control of their debt and make a […]

Bankruptcy Terms You Should Know

Sometimes an educated consumer can get confused with many of the terms associated with filing bankruptcy. Even more confusing to most people is the process of eliminating debt through bankruptcy. While bankruptcy aims to relieve individuals and business from debt stress, the rules can intimidate and discourage anyone at first glance. If you finances are […]

Stopping Creditor Harassment

Once you have filed your bankruptcy petition an automatic stay goes into effect, which protects you (the debtor) from creditor harassment. This means creditors are no longer permitted to attempt to or collect any debt from you. They cannot call you or visit you to ask for repayment. They cannot sue you or garnish your […]

Is Filing for Chapter 13 Bankruptcy a Better Option Than Chapter 7 for Preventing Foreclosure on My Home?

Timing can make a major difference in the available options for preventing foreclosure. The best time to talk with Los Angeles foreclosures attorneys is as soon as you foresee problems in keeping current with mortgage payments. Depending on the timing and the details of your financial circumstances, either Chapter 13 or Chapter 7 bankruptcy may […]

Does a Bankruptcy Filing Have a Permanent Negative Effect on My Credit Score?

The first thing to understand is that filing bankruptcy is not the root cause of a poor credit score. In fact, bankruptcy can be an important step toward improving your credit score in the future. The credit counseling you must pursue as a prerequisite to filing bankruptcy provides valuable information on how to handle your […]

How Can Chapter 13 Help with a California Foreclosure?

Nearly 1.1 million individuals and businesses filed bankruptcy petitions between June 2012 and June 2013. This marks the lowest number of bankruptcy filings in any 12-month period since 2008. Likewise, foreclosure activity across the nation is declining, but has not yet returned to the 2006 pre-housing bust. California foreclosure activity placed below the top 10 highest states […]

Do Los Angeles Bankruptcy Trustees Ever Need Legal Advice or Support?

Bankruptcy trustees have extensive responsibilities related to the administration of the bankruptcy estates they oversee. Since every case has unique aspects, even experienced private trustees can expect some issues to arise that they may not know how to handle. An experienced Los Angeles bankruptcy trustee attorney can play an important role in unraveling complex matters […]

Chapter 7 Bankruptcy: Just Right to Solve Your Financial Woes

America sits on the horizon of a new financial crisis, analysts say. Since the emergence of the Great Recession, American wages and income remain stagnant, the cost of living continues to soar and consumer debts mount to historical heights. In fact, TransUnion —one of the top credit reporting bureaus — estimates that the average consumer’s […]

Bankruptcy Myths

When you are stuck in a bind and unable to pay your creditors, filing for bankruptcy can provide a fresh financial start. However, how much of your debt actually disappears?  How much time does it take before you are eligible to apply for another credit card? While filing for bankruptcy is more common today that […]

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