When an individual files for bankruptcy, there are generally two options as to the type of bankruptcy that is filed. A Chapter 7 Bankruptcy is the simple form of bankruptcy that clears your debt without you paying your creditors. A Chapter 7 bankruptcy case, on average, lasts only a few months. The other option is […]
Bankruptcy Gives You the Freedom to Start Over
Bankruptcy is not the end for people who file; in fact, it is quite the opposite. A successful bankruptcy filing will provide you renewed financial freedom, and you will be able to go forward with a fresh start. Plus, contrary to popular belief, you do not necessarily have to surrender all of your property if […]
9 Ways to Rebuild After a Bankruptcy
After you’ve been through a bankruptcy, it’s time to think about rebuilding. It’s a process, but if you are careful, you can get there. Follow these steps, and you will soon improve your credit score, which is critical for buying a car, renting or buying a house and functioning in a myriad of ways in […]
Understanding How Bankruptcy Affects Your Life
Filing for bankruptcy is an intimidating prospect. One of the most common fears is that bankruptcy will result in a lifetime of negative consequences that you’ll never be able to recover from. While it’s an understandable fear, it’s also an unfounded one. Bankruptcy will have a negative impact on your life – but only at […]
Do I Need a Bankruptcy Attorney?
Bankruptcy laws generally don’t require debtors to have attorney representation when filing for bankruptcy. As with most legal situations, you are permitted to represent yourself. In bankruptcy, it’s known as being a “pro se debtor.” However, just because you can doesn’t necessarily mean that you should. For those seeking desperately needed debt relief through bankruptcy, […]
Tuition Recovery Lawsuits when you file Bankruptcy?
What are Tuition Recovery Lawsuits? Tuition Recovery law suits are a new trend in Bankruptcy cases where the court-appointed trustees have been trying to sue universities, and sometimes college students themselves, to take back tuition payments that parents made years before on behalf of their children. Why? Under the U.S. Bankruptcy code, trustees can sue […]
Financial Lessons from “The Big Short”
The Big Short tells the story of the greatest economic crisis since the Great Depression- the 2008 financial crash. A time when banks were more than willing to lend to people who could never afford to pay them back. This led to un-regulated and out-of-control gigantic banks and their bankers making huge, high risk bets in […]
Avoid Bankruptcy: Tips to Manage Money, Savings, and Debt
Have you ever wondered how a person with about $50,000 or more in debt manage to pay them all off within a span of 2 or 3 years? Have you been thinking of ways to get rid of your debt and how to handle your finances? According to the Wall Street Journal and Edvisors, […]
Motivation Monday
“To be successful, the first thing to do is to fall in love with your work.” The VLG staff wishes everyone a Happy Monday! We hope you’re doing what you love and loving what you do. Stay motivated for the rest of the week!
New Anti-Deficiency Protection for Refinance Loans Made After January 1, 2013
Starting January 1, 2013, a new California law will protect homeowners who default on their refinance loans from personal liability for any deficiency following foreclosure. Existing anti-deficiency law protects a borrower from personal liability for the difference between the principal balance and what the lender receives at foreclosure if the loan is a purchase money […]
