John Stewart - Articles

Is there Credit after Bankruptcy?

FUTURE CREDIT - One of the most frequent questions I receive as a Bankruptcy lawyer, is "How will Bankruptcy affect my future credit?" It is true that credit records are very important and getting more important every day. Many employers have started requesting credit reports, and certainly credit is necessary to purchase a house and in most cases a car. That is why I usually don't recommend filing bankruptcy if you have good credit. Read

By: John Stewart | 02/11/2009 | National, State, Local

How Long Does Foreclosure Take?

In Foreclosure Power of Sale Foreclosure vs. Judicial Foreclosure, how fast can the bank foreclose? First of all, most lenders will not begin foreclosure proceedings until a borrower is 3-6 months behind on their payments. Although missing a single payment is a default under the terms of most loan documents, lenders have neither the time nor the desire to foreclose on borrowers who have missed one payment. Read

By: John Stewart | 30/10/2009 | Bankruptcy

Yaser Arafat of Bankruptcy?

Exemption laws are crucial to any personal bankruptcy filing. Indeed, the availability of exemptions is usually key to the determination of whether to file bankruptcy in the first place. If the debtor has significant amounts of property that could potentially be lost in a chapter 7 liquidation, chapter 13 may be the answer. Even in a chapter 13 setting, the value of nonexempt property may determine the minimum that must be paid to unsecured creditors. Read

By: John Stewart | 30/10/2009 | National, State, Local

Changes in Mortgage Payments in Chapter 13 Cases

A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Read

By: John Stewart | 30/10/2009 | National, State, Local

Will Bankruptcy Stop Wage Garnishments?

The short answer is yes. Once your case is filed, creditors are no longer entitled to garnish your wages for debts that existed at the beginning of the case. Read

By: John Stewart | 30/10/2009 | National, State, Local

How Can I Repair My Credit?

Whether you have filed Bankruptcy or have faced foreclosure, repossession or a delinquency on a loan, it is a fact of life that your credit score can fluctuate. Access to credit is important when applying for a car or home loan or when starting a new business, the lower your credit score, the higher your interest rate will likely be. Read

By: John Stewart | 30/10/2009 | National, State, Local