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Mcbride Law http://www.mcbridelawplc.com For Your Credit and Financial Help! Wed, 30 Dec 2015 04:40:15 +0000 en-US hourly 1 http://wordpress.org/?v=4.3.11 Representing Oneself http://www.mcbridelawplc.com/representing-oneself/ http://www.mcbridelawplc.com/representing-oneself/#comments Wed, 30 Dec 2015 04:40:15 +0000 http://www.mcbridelawplc.com/?p=25 If you are at a point where you think you may be forced to file for bankruptcy, you may have the question as to whether you can represent yourself, or whether you do not have another choice but to hire a lawyer to represent you in the matter. While businesses do not have the choice to represent themselves, any person can choose to represent themselves when they are filing for.. Read More

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If you are at a point where you think you may be forced to file for bankruptcy, you may have the question as to whether you can represent yourself, or whether you do not have another choice but to hire a lawyer to represent you in the matter. While businesses do not have the choice to represent themselves, any person can choose to represent themselves when they are filing for bankruptcy, so you can absolutely do this if you so choose to do so. However, in just about every case, it is not very wise to represent yourself, even if you feel like you have the situation under control and understand how the process works when it comes to filing for bankruptcy. There are many things that need to be done a certain way in order for you to get the most benefit and be put in the best place to succeed in life after you do inevitably file for bankruptcy, so simply having a lawyer to represent you during this process may be ideal. Many people think that they cannot afford a lawyer during this process as well, but the reality is that there are many options for people in this situation.

When you need a lawyer, you should get information from the best. The Radol Law Firm can give you the information you need.

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Please write an article on the given topic http://www.mcbridelawplc.com/please-write-an-article-on-the-given-topic/ http://www.mcbridelawplc.com/please-write-an-article-on-the-given-topic/#comments Wed, 30 Dec 2015 02:51:06 +0000 http://www.mcbridelawplc.com/?p=23 BANKRUPTCY LAWS: PAST, PRESENT AND FUTURE In basic terms it’s meant to satisfy the creditors. The assets of the person in debt get allocated to the creditors to cover the debt that was accrued. Why is this done? It’s done to severe a person’s ties to his or past. This gives the person a chance to start over in life, without worrying about some financial looming over his or head... Read More

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BANKRUPTCY LAWS: PAST, PRESENT AND FUTURE

In basic terms it’s meant to satisfy the creditors. The assets of the person in debt get allocated to the creditors to cover the debt that was accrued.

Why is this done?

It’s done to severe a person’s ties to his or past. This gives the person a chance to start over in life, without worrying about some financial looming over his or head. In the 1970’s the primary use for this law was due to medical bills and such. Now credit cards have changed this rule. Now people use it to get out of credit card issues.

THE BIGGEST CHANGES TO THE LAW

There have been lots of things added and subtracted since the onset of this law in the 1800’s. Yes, this law actually originated back then. It didn’t have much attention because not too many people were abusing the system.

Based on some of the more recent changes, four big things have become the staple.

1)The Private Trustee Reform Act

2) The Investment in Education Act

3) The Working Family Farmer Protection Act

4) the Bankruptcy Judgeship Act of 1997

The main issue with this law is to bring consumers back to the idea of personal responsibility, the idea of being held accountable for their own actions. It is also there to help weed out those who are just using the law for their own gain.

As with any change, it becomes a wait and see game. With the new reforms being put into law by congress people are hoping for a big turnaround when it comes to those who file and why.

Click here for reliable legal information to help your case.

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Actions Not Halted By Bankruptcy http://www.mcbridelawplc.com/actions-not-halted-by-bankruptcy/ http://www.mcbridelawplc.com/actions-not-halted-by-bankruptcy/#comments Wed, 30 Dec 2015 02:04:06 +0000 http://www.mcbridelawplc.com/?p=21 There are several actions that will not halt bankruptcy. This is why it is ideal to make an automatic stay in order to formally stop certain things from continuing such as creditors collection activities. It may also halt various judicial and administrative collections and the collection proceedings. This can help from further proceedings in tax courts including pending cases. In order for this totaled action a petition must be filed.. Read More

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There are several actions that will not halt bankruptcy. This is why it is ideal to make an automatic stay in order to formally stop certain things from continuing such as creditors collection activities. It may also halt various judicial and administrative collections and the collection proceedings. This can help from further proceedings in tax courts including pending cases.

In order for this totaled action a petition must be filed immediately. The stay will be effective the time that the petition is filed. There are something’s however, that may not stop the automatic stay including criminal charges. Other violations and proceedings that may not stop automatically including any violent or domestic charges.

If a creditor continues to illegally collect from you then you may be possible to monetary damages. The stay remains in effect until the case is closed, the case id dismissed, or dropped entirely. During the filling. You and collection notifications will be notified if the bankruptcy filing has took place. An Order of Relief can be filed to help all creditors which will be sent from the clerk from where the petition was initially filed. It’s ideal to discus what things will not be stopped by the automatic stay.

We encourage you to Click here to learn more and receive expert legal advice.

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Means Test Step 6 – Presumption of Abuse http://www.mcbridelawplc.com/means-test-step-6-presumption-of-abuse/ http://www.mcbridelawplc.com/means-test-step-6-presumption-of-abuse/#comments Tue, 01 Dec 2015 13:59:07 +0000 http://www.mcbridelawplc.com/?p=19 Determining Whether Presumption of Abuse Does Exists Once disposable monthly income is first calculated, it’s multiplied by 60 to help determine the money you have available for paying unsecured creditors over 5 years. The calculation is inserted into Part VI of the Form B22A and then Part V of the Form B22C. Abuse is then presumed if debtor has at least $11,725 over the five years to pay any unsecured.. Read More

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Determining Whether Presumption of Abuse Does Exists

Once disposable monthly income is first calculated, it’s multiplied by 60 to help determine the money you have available for paying unsecured creditors over 5 years.

The calculation is inserted into Part VI of the Form B22A and then Part V of the Form B22C.

Abuse is then presumed if debtor has at least $11,725 over the five years to pay any unsecured creditors. It’s never presumed that if that total for the five years is under the $7,025. Abuse is then presumed if debtor could pay 25 percent of unsecured claims over 5 year period.

It’s easier to use monthly numbers to determine presumption of abuse. If debtor’s disposable income for the month is less than $117.08 a month, no abuse exists. If debtor’s disposable income for that month exceeds $195.42, presumption of abuse arises. If debtor’s disposable income falls in between those numbers, abuse is then presumed if over a 5 year period is then sufficient to pay at 25 percent of the debtor’s unsecured debts for next 60 months.

Example of the calculations

Debtor has disposable income for the month of $14.00. We calculate presumption for abuse:
$14.00 X 60 = $840.00

Click here to discover ways you can educate yourself on this topic.

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