This is information that we provide to our bankruptcy clients, but others may find it useful as well.
First, beware of credit repair companies that claim they can magically erase derogatory entries from your report. No one can erase derogatory information from your credit report if the information is accurate and properly reported. However, if there is old or inaccurate information on your credit report, you can correct it yourself for free. Here is how:
A few months after your bankruptcy case is discharged, you should obtain a copy of your credit report. You can obtain a free credit report every twelve months by going to www.annualcreditreport.com or call 1-877-322-8228.
You should examine your credit report tradelines and dispute any improper or inaccurate entries. You should note any of your discharged debts that are being reported as something other than “discharged” (ask your bankruptcy attorney how specific pre-filing and discharged debts should be reflected on your credit report).
Your dispute can be filed online or in writing. Your credit report will contain detailed instructions on how to dispute inaccurate/improper information. The credit bureau will conduct an investigation and should remove the incorrect information. This, in turn, should have a positive impact on your credit score!
As always, The Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island. Contact us at (516) 858-2620 to arrange a Free bankruptcy consultation.
What can I do after a bankruptcy dismissal?
After a dismissal, your bankruptcy case will be closed. The bankruptcy will be over unless/until a motion is made and granted reopening the case. Depending on the reason your case was dismissed, you may/may not be able to file another bankruptcy case right away. If you are able to file again, the length of the Automatic Stay might be an issue for you. A motion may have to be made to extend the length of the stay (your bankruptcy attorney will advise you about this issue).
Bankruptcy Attorney in Mineola
As always, the Law Firm of VAUGHN, WEBER & PRAKOPE, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., #208, in Mineola, NY. Contact us at (516) 858-2620 to arrange a consultation with a bankruptcy attorney.
How long will my chapter 7 bankruptcy case take to close?
Well, most of our chapter 7 bankruptcy cases take roughly 3 months from case filing until discharge/case closure (Note: Discharge and case closure are not the same thing).
Additionally, when your attorney files his or her chapter 7 bankruptcy cases could add to the length of time you are waiting for your bankruptcy case to close. Some attorneys “batch file” their chapter 7 cases. They hold their chapter 7 cases and file them together on a particular day (i.e. the end of the month). We file our bankruptcy cases as they are ready to be filed. As always, we hope that you found this information helpful.
The Law Firm of Vaughn & Weber, PLLC, proudly assists residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn and Staten Island) with their bankruptcy filings. Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!
We are often asked, “should I short sale my property if I already filed bankruptcy?”
There may be several reasons to proceed with either a deed-in-lieu of foreclosure or a short sale of your home after your bankruptcy discharge is granted and your bankruptcy case is closed:
- To avoid paying Homeowner’s insurance.
- To avoid being liable for any injuries sustained on the property.
- To avoid liability for HOA dues.
- To avoid liability for failure to maintain the property.
The above reasons may cause you to lean towards a short sale or deed-in-lieu of your property. However, it would be wise to consult with an attorney before making a final decision.
We proudly assist residents of Long Island: Nassau county, Suffolk county, New York City: Queens, Brooklyn, Bronx, Staten Island, and Manhattan. Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!