Category Archives: Legal

Myrtle Beach Attorneys Say Bankruptcy’s Are Down and Expected to Continue to Get Better

Attorney Myrtle BeachPositively affected (or possible negative if your a bankruptcy attorney) by an improving market and reducing unemployment all across the country, the down(ward) tendency of consumer insolvency and bankruptcy’s that we found before few years is likely to continue using a proposed continued spiral down of 8 to 10 percent per year said a spokesperson for MyrtleBeachAttorneyGroup.com where you can find Myrtle Beach Attorneys that have more information and help for you and your legal needs there.

Personal bankruptcy filings are anticipated to fall for the fourth straight year in 2015, according to a Fitch Ratings report on bankruptcy trends. A year ago, personal bankruptcy filings fell by 12.6 percent.

Some of the variables leading to the continuing decline are contained an enhancing home market and falling unemployment and economy that is trending upward. This might not be great news for Bankruptcy Attorneys that seemed all of a sudden have expertise in the matter of bankruptcy law over the last few years. But, the seasoned pros are ready to move onto better endeavors with their clients that can now get back to building businesses and purchasing real estate and using legal assistance for much more enterprising things.

“Fitch considers the rate of development will moderate as banks continue attempts to facilitate underwriting standards and revert accessibility to bigger credit lines to consumers. U.S. health care prices are an area of focus that could possibly have a substantial impact on bankruptcy filings,” according to the report.

Annually, between 2011 and 2013, bankruptcy filings fell by more than 10 percent.

There were fewer insolvency when compared to each month in the year 2012 reported in 2013.

Insolvency caused by outstanding mortgages or charge card statements are outpaced by insolvency as a result of outstanding medical bills. The number in 2013 was somewhat significantly less than previous years, but health care-associated insolvency continue to signify almost three out of every five filings.

To read the full report – visit them here.

Real Estate Attorney Atlanta on How to Find Legal Help

  • Filing for Bankruptcy?Atlanta Real Estate Attorneys
  • Scheduling a Real Estate Closing?
  • Damage in a vehicle mishap?
  • Confronting a court action of any kind?

In these scenarios, you should think about hiring an attorney represent your personal interests or to guide you. Contemplate a few of these helpful hints for locating an attorney  from a real estate attorney Atlanta that can represent you, before selecting the very first lawyer which you come across.  Feel free to check them out at: http://atlantaattorneygroup.com/lawyers-in-atlanta-ga-real-estate-litigation-business/

Many attorneys focus on a specific area of regulations. Be assured your lawyer has expertise in the region you want help with. If the problem is a vehicle mishap a lawyer which regularly drafts wills is not most likely the greatest representative in a court. If friends, family or coworkers have hired a lawyer to get a motive that is similar, ask these individuals for recommendations. Check using a local and state bar associations. Some groups give attorney referral services for her or his members.

Just before you choose the one in order to represent you make an effort to talk with several attorneys in your community. Learn if that first consultation is free or in the event that you are going to find yourself billed to get a simple assembly. Be prepared to describe your issue in an extremely short, clear outline. Request the attorneys about their expertise that is unique, their price, what your choices might be, your opportunities regarding success, when the issue may be worked out, and that will work the work.

Comprehend the Facts
Make sure to realize that which you have both chosen for when you decide to engage the services of an attorney. How frequently may the attorney update you? Can you comprehend your alternatives that are entire? Just what will the entire price be? Should you unclear on the attorney is discussing, require clarification. Although your chances of success can not be guaranteed, discuss consequences that are potential to your case. In writing, you need to get the deal by means of your attorney.

Prices and Extra Fees
Before any work begins, ask whether you are going to find yourself responsible for additional fees and prices and exactly what the price is going to be with the attorney. State ethos guidelines require a fee that is fair to charge. The Bar Association states that attorneys certainly lay their fees, preferably written out, after starting to represent you, inside a reasonable time. Your attorney may ask you for additional for making using research services, court filing fees, or copies. Make sure to comprehend for how much and what’ll you be billed.

More about AtlantaAttorneyGroup.com:

Closing Cost Scoop from a Real Estate Attorney Greenville SC

real estate attorney Greenville SCMany potential homeowners are surprised after understanding they must cover a total sum of about $10,000 or more when they arrive at the real estate attorney Greenville SC office for closing on their new home or real estate purchase.

So that you can have the ability to settle on a price that is expected at closing , sellers along with the homebuyers should know what expenses to expect at the attorneys office.

Don’t just take your closing cost for granted. Almost everything involved as a closing cost can be negotiated.  And just as with the purchase price of your home, you need to shop around and make sure that you are aware of what to expect and negotiate for the lowest possible added on cost to your purchase.  Below is a list of most of the additional cost that you should look out for:

  • Appraisal
  • Credit Report
  • Closing Fee or Escrow Fee
  • Title Company Title Search or Exam Fee
  • Survey Fee
  • Flood Determination or Life of Loan Coverage
  • Courier Fee
  • Lender’s Policy Title Insurance
  • Owner’s Policy Title Insurance
  • Natural Hazards Disclosure Report
  • Homeowners’ Insurance
  • Buyer’s Attorney Fee
  • Lender’s Attorney Fee
  • Escrow Deposit for Property Taxes & Mortgage Insurance
  • Transfer Taxes
  • Recording Fees
  • Processing Fee
  • Underwriting Fee
  • Loan Discount Points
  • Pre-Paid Interest
  • Property Tax
  • Wood Destroying Pest Inspection and Allocation of Costs
  • Home Owners Association Tranfer Fees

Knowing what to expect at closing and what your cost will be is important before you head down the road to purchasing property and get over-stretched at the  closing table.   Our advice is to get a preliminary breakdown of these cost before you make a final offer on a property to make sure that you can afford the purchase.  And, negotiate those costs!

For more information – feel free to visit: http://greenvilleattorneygroup.com/business-attorney-greenville-real-estate-attorney/

Lawyer Up – 3 Ways to Increase Your Accident Settlement

Charleston Personal Injury LawyerIn most personal injury claims, an injured person will try to reach a settlement with the defendant to avoid incurring legal costs in a court. Although you will save on legal expenses, there are high chances that you will not be valuably compensated for your injuries. There are several ways you can increase your settlement in a personal injury claim. They include:

Hiring an Attorney

Hiring an attorney is the best way to increase your accident settlement. When dealing with a defendant or insurance company directly, there is a possibility of a low settlement due to the bargaining power, knowledge and experience that insurance companies have in dealing with similar claims. Luckily, when you hire an accident attorney, you will increase your settlement since the attorney has the knowledge and experience required to handle such claims.  Here is a great place to find a Charleston personal injury lawyer.

Visiting the Emergency Room

When injured, it is very important that you seek medical attention immediately. This is important for many reasons. One, if you are involved in a car accident or injury-causing event (such a dog attack or fall), you need a doctor to treat or rule out serious injuries. If anything, your safety and overall health are more important than anything else. Secondly, when you visit the emergency room immediately after an accident, you will likely get a favorable settlement because insurance companies argue that reasonable people go to see a doctor immediately they are injured.

A doctor will also provide documentation which you need to negotiate a settlement. However, you should note that insurance companies only pay for doctor visits that are related to the accident and not for previous medical conditions. Also, your medical bills and records should be related to the accident to increase your chances of getting a high settlement. Medical records enable the insurance company to see your medical expenses and a history of what you have endured due to the accident.  Find more information and about locating an accident attorney here: http://www.americanbar.org/directories/people_directories/people_directory_members_landing.html

 Investigating the Accident

You can investigate the accident personally or seek an attorney’s help. This investigation looks into several details such as cause of accident, location of accident and parties involved in the accident. An investigation tries to prove the fault or negligence on the defendant’s part. While at it, ensure you gather evidence (such as videos, photos) regarding the accident. Also, make sure you obtain contact information of individuals who witnessed the accident. It can be difficult to call witnesses to testify. However, an attorney can help you convince the witnesses to testify. This will greatly increase your chances of getting a favorable accident settlement.

Different Alternatives for Bankruptcy

Are you facing financial insolvency? Filing for bankruptcy is not the best option to take unless there are no other alternatives available. The first thing to do is to evaluate the possible consequences that may arise if you will file financial failure. Considering bankruptcy involves a lot of things to consider including the procedure, terms and conditions as well as the criteria. The jurisdiction depends on the court that specializes bankruptcy. Likewise, you should also study the costs involved.

Using alternatives for bankruptcy can help you in getting out from your debt. But, make sure to select the option that suits best to your financial condition.

Administration Order

This is an order from the county court that allows you to pay your monthly dues to the court instead of paying straight to different creditors. The money you pay will be divided in proportion to each creditor that you owed. The good thing about this alternative is that your creditor will not be able to take further actions without the court’s permission. Likewise, the accumulation of charges or interest is also stop, thus you need not worry that your debt will increase.

Individual Voluntary Arrangements

Another alternative that you can take is the Individual Voluntary Arrangements of the IVA. It is a legal binding agreement taken amid you and the creditors. The agreement is usually within five years and after that grace period all the outstanding debt will be written off. If the creditor had served you statutory demand for payment, you should act immediately before your creditor forced you to bankruptcy. You should consider Individual Voluntary Arrangements especially if you have adequate fund to repay your creditors each month.

If you will apply for IVA, you need to consult a professional insolvency practitioner. An insolvency professional will help in preparing for the IVA proposal. In the same manner, considering IVA can only be possible if the creditors will agree.

Debt Relief Orders

A debt relief order or DRO is another option to consider if you have assets to keep, but little income. This shows that you are unable to pay your debts in a reasonable time. This alternative for bankruptcy is applicable for the following conditions:

  • If the unsecured debts are lower than 15,000
  • If the disposable monthly income is lower than 50
  • The assets and savings are lower than 300
  • If you do not own a home

Once you use DRO, your creditors will not be able collect payments and your debts will be written off after a year. Likewise, you are not allowed to pay directly to your creditors that are included in the DRO. However, you will be liable to pay for court fines, student loans and child supports because these are not included in the order’s list.

These alternatives can help you in resolving your debts instead of filing bankruptcy. Keep in mind that it is not the only option to take to save your business for bankruptcy at the same time saving your credibility and reputation.

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Do Bankruptcy Alternatives Work to Keep My Real Estate?

The Federal Government of the United States is active in protecting debtors from bankruptcy proceedings and they are discouraging people to take this route. However, there are instances in which the debtors declare bankruptcy even if they do not want it. Talking with bankruptcy lawyer is necessary so that you can obtain legal assistance or advice.  A great source for information on bankruptcy and the effect on real estate go here.

real estateBefore reaching bankruptcy, it is necessary to look for other alternatives that can spare you from financial failure. There are several alternatives to consider before filing for bankruptcy. Some alternatives are simple while other requires good skills in money management. It is important to search all other possible alternatives before jumping into bankruptcy. You should consider how it will affect your financial health in the coming years. Likewise, your debt management technique should also be considered. Here are some bankruptcy alternatives to consider:

Proper Budget Management

In running a business, it is essential to have a budget plan that will guide you in all your expenses. However, even if you create a budget if you are not able to manage it, then it will cause some problems. Managing your budget properly is equally important as managing your debts. Otherwise, you may end up to bankruptcy.

Sale of Assets

A business or an individual swamped in debt most likely ended up selling the assets. Being stuck into a pit of debt can be embarrassing and declaring bankruptcy can aggravate the situation. That is why businesses in this financial situation preferred to sell their assets voluntarily or impose the Chapter 7 bankruptcy. The proceeds from selling assets can be used in paying off outstanding debt.

Settlement/Negotiation

In worst scenarios, the debtors declare bankruptcy before the creditor files a suit. On the other hand, the borrower and the lender may come up to agreeable circumstances and reach an agreement beneficial to both parties. The lender can reduce the amount of the money the borrower owed to pay. Through debt settlement or debt negotiation, both parties agreed for a lump sum that will be paid to the creditor.

Debt Restructuring

Debt restructuring is another alternative that can be considered instead of filing for bankruptcy. A debtor who wants to maintain decent credit score should maintain properly the balance of the monies owed. Thus, restructuring the balance of your debt can help in preventing bankruptcy.

If you find that you need to liquidate your property or real estate in Myrtle Beach SC. This might be a good place to start.

Counterclaim/Affirmative Defense

A lawsuit is usually filed by a creditor if the debtor is unable to pay the financially obligations. In this situation, the debtor has no right to contest the claims, but can do other alternative to defend in the proceedings. The debtors can file separate claim such as argument ancillary that can contest the original claim. The legal representatives or tactic defendants can employ affirmative defense that seeks dismissal of the suit including inappropriate claim documentation and failure to file statute of limitations.

Bankruptcy is not the only route to resolve debts. Considering other alternatives can help people with larger amount of debts to end up for bankruptcy. Through proper management of debts you can ensure that you can repay all your debts without going the route of financial failure.

Chapter 7 – Bankruptcy Exemptions and How it Effects Mortgages

Bankruptcy can happen to any business regardless of its type and size. However, debtors must be mindful of the alternatives available instead of filing for financial failure. Chapter 7 is one of the alternatives that you can choose if you notice that your business needs some financial adjustments. If you will consider filing Chapter 7, most of your assets will be liquidated in order to reduce the amount of your debts.

Before filing for Chapter 7 bankruptcy, it is important to understand first the inclusion of this chapter. This chapter is also called as liquidation bankruptcy because the assets and property of the debtor are gathered and sold in order to pay most of the debts and the remaining amount of the debts is discharged. However, in filing for Chapter 7 there are exemptions in which some of the properties are protected from being sold such as your home.

To find out how Bankruptcy will effect your mortgages, contact Greenville Mortgage Place for expert advice on Mortgages and Foreclosures.

Homestead exemptions – The home is one of the assets that filers for Chapter 7 are concerned. Luckily, homestead exemptions protect the home of the filer, yet there are limits to the protected amount.

Automobile or car exemptions – Under Chapter 7 bankruptcy, the car of the filer is also protected. However, the federal and state laws have set certain amount of the value of the vehicle to be protected. In 2010, the capped amount for the vehicle exemption set by the federal law was $3,225.

Personal Property exemptions – There are different types of exemptions applicable for personal property. In fact, most of the personal properties are exempted from being sold. Examples include jewelry, clothing, appliances, home furnishings and many more. However, the law sets limit per item that will be applied to this exemption.

Wildcard exemptions – All the properties, assets or items that exceeds in the maximum value of other categories fall on this Chapter 7 exemptions. The debtor can impose wildcard exemption in order to protect other properties to end up in bankruptcy. The bad side is that not all state offers wildcard exemptions and the value is limited.

Even if your business is facing financial crunches, you need to be very careful in making your decision. If you think that you can still do things to save your business, then you should not file for bankruptcy. If there is no other option and you want to resolve the insolvency problem you may consider Chapter 7 bankruptcy, but make sure to understand the exemptions.

The Chapter 7 bankruptcy exemptions also depend on the tax of the filer. Likewise, the federal and the state law are the one establishing the exemptions. That is why if you do not have any idea about this chapter and its exemptions, the best thing to do is to hire a bankruptcy attorney. This will help you in familiarizing the law and how it can help you from bankruptcy.

Chapter 7 bankruptcy allows the filer to make a start after resolving all the debts. Through the exemptions the filer can start a new business while keeping certain properties.  For more information: http://en.wikipedia.org/wiki/Chapter_7,_Title_11,_United_States_Code