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Jeffrey Daniel Larkin
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Jeffrey Larkin’s Legal Guides

23 total

  • Bankruptcy and The Automatic Stay: What is it and what can it do for you?

    Upon the Filing of a Bankruptcy Petition Once a bankruptcy case is filed, creditors are put on notice and advised that all collection efforts against the debtor are stayed during the pendency of the

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  • What is a Bankruptcy Reaffirmation Agreement and What Are the Pro’s and Con’s of Signing One?

    Option 1- Surrender The collateral may be surrendered back to the lender who will sell the property and apply the proceeds to the outstanding balance of your loan. Assuming your case completes and y

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  • I received a bankruptcy “Notice of Abandonment” from the Trustee! What does that mean?

    Generally Speaking Basically, a notice of abandonment is the trustee’s way of saying that for one reason or another, the listed property cannot be liquidated for the benefit of your creditors. When

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  • Keeping the car you love despite owing much more than it’s worth. How can bankruptcy help?

    Chapter 7 In a chapter 7 bankruptcy, debtors can take advantage of section 722 of the Bankruptcy Code, also known as redemption. Under section 722, a debtor may redeem personal property intended pri

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  • A judgment has been entered against me. What happens now?

    Wage Garnishment If you are employed as a W-2 employee, a judgment creditor can attempt to garnish your wages to pay off the judgment amount. Under a wage garnishment, your employer is served an ord

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  • Will my credit be ruined for years because of bankruptcy?

    Consider the Following- Debtor A Debtor “A” is a cashier who makes $32k per year, and as a result of being out of work off and on for the last year, has accumulated $86k in unsecured credit card debt

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  • I don’t want to file for bankruptcy or am not sure it's right for me. Are there other options?

    Debt Consolidation Debt consolidation is a process whereby creditor’s generally agree to reduce interest rates and accept a smaller monthly payment so that all creditors can be dealt with in a single

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  • How much property will I lose if I file for bankruptcy? What is exempt?

    Exemptions Bankruptcy law allows debtors to use certain exemptions to protect property, both real and personal. Most debtors are able to keep the property they own because its value or available equ

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  • What is the difference between Chapter 7 and Chapter 13 bankruptcy and the timeline for each?

    Chapter 7 Also called a “straight bankruptcy”, chapter 7 involves the liquidation of non-exempt assets for the benefit of creditors. Most chapter 7 cases are considered “no asset” cases meaning ther

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  • What is a bankruptcy trustee and what is his/her role in the bankruptcy process?

    Chapter 7 Trustee Generally speaking, the role of the Trustee in a Chapter 7 case is to review the bankruptcy schedules to determine whether there is any property available to be liquidated for the b

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