My bankruptcy case was dismissed, now what?
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.
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, at 393 Jericho Tpke., #208, in Mineola, NY. Contact us at (516) 858-2620 to arrange a consultation with a bankruptcy attorney.
Don’t file a Chapter 7 unless you have 500k in debt.
That’s pretty much what a radio show host recently said. We can’t see how this is good advice. There is no minimum amount of debt that one must have in order to file bankruptcy! Even more disconcerting, was the fact that the host appeared to be offering some sort of debt settlement guide or program they created.
First, Debt settlement can work, but you need money to settle! You have to be able to make a lump sum or monthly payments.
Secondly, we have had clients with very little debt file bankruptcy. Many individuals file bankruptcy to prevent home foreclosure, head off an impending lawsuit, discharge a judgment obtained against them etc.
Finally, Bankruptcy is not for everyone. We suggest that you speak with an attorney about bankruptcy and debt settlement before making a final decision.
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, at 393 Jericho Tpke., #208, in Mineola, NY. Contact us at (516) 858-2620 to arrange a consultation with a bankruptcy and debt settlement attorney.
Foreclosures are up.
According to several recent news articles and reports, it appears that foreclosure actions are once again on the rise. Fortunately, we have noticed much of an increase in foreclosure actions being brought. At any rate, this is still troubling news.
Loan Modifications are up.
At least in our office, we have seen an increase in Loan Modifications. Many of our clients have recently received loan modification offers. Many of the offers are for a HAMP trial modification. However, we have received some permanent in-house modification offers.
Each case varies:
- Some cases involved lengthy litigation (years).
- Some cases were resolved in a matter of months.
- Several of our clients had already filed for chapter 7 bankruptcy
- Most, if not all, of our clients were previously turned down for a loan modification.
Note: Prior results do not guarantee a similar outcome.
The Law Firm of Vaughn & Weber, PLLC routinely represents homeowners facing foreclosure. We examine each homeowner’s specific situation to determine their best course of action. We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, and Manhattan) with their foreclosure matters. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., Ste. 208, Mineola, NY 11501.
Call (516) 858-2620 to arrange a FREE consultation with a foreclosure attorney!
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