Bankruptcy for Senior Citizens - Grand Rapids Bankruptcy Attorney

Senior Citizens often time face financial problems.  This can happen for a number of reasons.  Medical expenses can be overwhelming for most.  Sometimes seniors cannot adjust their spending to a fixed income which results in financial problems.  The bankruptcy code only looks at earned income and not social security income to determine if you qualify to discharge your debts.  Put another way,  if you are on a pension and social security, the bankruptcy court determines that you have no income to pay your debts.  They only look at earned income for the means test.  As a result seniors almost always qualify for bankruptcy.

If you or a loved one is facing financial problems.  Call our office we can explain in detail bankruptcy and nonbankruptcy options.  Free Consultation.

Christian G Krupp

KRUPP LAW OFFICES PC
GRAND RAPIDS BANKRUPTCY ATTORNEYS
161 Ottawa NW Suite 404
Grand Rapids MI 49503
616-459-6636

Krupp Law Offices, P.C., represents clients in Grand Rapids, Big Rapids, Ionia, Muskegon, Grand Haven, Stanton, Greenville, Wayland, Allegan, Holland, Newaygo, White Cloud, Fremont, Coopersville, Hastings, Middleville, Wyoming, and Rockford, including Kent County, Ottawa County, Newaygo County, Ionia County, Mecosta County, Barry County, Montcalm County, Allegan County, Osceola County, Lake County and Muskegon County, Michigan.

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Impoving Your Credit Score After Bankruptcy - Grand Rapids Bankruptcy Attorney

Credit scores take into account years of past behavior, not just your present actions.
In addition to making the right moves, you also have to be consistent. A few easy steps can push your score in the right direction.
One of the major factors in your credit score is how much revolving credit you have versus how much you’re actually using. The smaller that percentage is, the better it is for your credit rating.
It’s best to keep your debt-to-credit ratio 30 percent or lower — the lower the better. To boost your score, “pay down your balances, and keep those balances low”. Know that even if you pay balances in full every month, you could still have a higher utilization ratio than you’d expect. That’s because some issuers use the balance on your statement as the one reported to the bureau. Even if you’re paying balances in full every month, your monthly balances will factor into your credit score. Check to see whether the credit card issuer accepts multiple payments throughout the month to keep your utilization low.
A good way to improve your score is to eliminate nuisance balances”. Those are the small balances you have on a number of credit cards. This works because one of the items your score considers is just how many of your cards have balances. So, charging $50 on one card and $30 on another, instead of using the same card (preferably one with a good interest rate), can hurt your score. The solution to improve your credit score is to gather up all those credit cards on which you have small balances and pay them off. Then select one or two go-to cards that you can use for everything.
Some people erroneously believe that old debt on their credit report is bad. The minute they get their home or car paid off, they’re on the phone trying to get it removed from their credit report, he says. Negative items are bad for your score, and most of them will disappear from your report after seven years. However, “arguing to get old accounts off your credit report just because they’re paid is a bad idea.
Good debt — debt that you’ve handled well and paid as agreed — is good for your credit. The longer your history of good debt, the better it is for your score. To improve your credit score, leave old debt and good accounts on as long as possible. This is also a good reason not to close old accounts where you’ve had a solid repayment record.
If you’re shopping for a home, car or student loan, it pays to do your rate shopping within a short time span. Every time you apply for credit, it can cause a small dip in your score that lasts a year. That’s because if someone is making multiple applications for credit, it usually means he or she wants to use more credit. However, with three kinds of loans — mortgage, auto and more recently, student loans — scoring formulas allow for the fact that you’ll make multiple applications but take out only one loan.
The FICO score, a score commonly used by lenders, ignores any such inquiries made in the 30 days prior to scoring. If it finds some that are older than 30 days, it will count those made within a typical shopping period as just one inquiry. The length of that shopping period depends on the credit score used.

If you’re planning a big purchase (like a home or a car), you might be scrambling to assemble one big chunk of cash. While you’re juggling bills, you don’t want to start sending bills late. Even if you’re sitting on a pile of savings, a drop in your score could scuttle that dream deal.
One of the biggest ingredients in a good credit score is simply month after month of plain vanilla on-time payments.
“Credit scores are determined by what’s in your credit report,” says Linda Sherry, director of national priorities for Consumer Action. If you’re bad about paying your bills — or paying them on time — it damages your credit and hurts your score, she says.
That can even extend to items that aren’t normally associated with credit reporting, such as library books, she says. That’s because even if the original “creditor,” such as the library, doesn’t report to the bureaus, they may eventually call in a collections agency for an unpaid bill. That agency could very well list the item on your credit report.
Saving money for a big purchase is smart. Just don’t slight the regular bills — or pay them late — to do it.Sometimes one of the best ways to improve your credit score is to not do something that could sink it.
Two of the biggies are missing payments and suddenly paying less (or charging more) than you normally do. Other changes that could scare your card issuer, but not necessarily dent your credit score, include taking out cash advances or even using your cards at businesses that could indicate current or future money stress, such as a pawnshop or a divorce attorney.
You should be laser-focused on your score when you know you’ll soon need credit. In the interim, take care of your bills and use credit responsibly. Your score will reflect these smart spending behaviors.
Are you getting ready to make a big purchase, such as a home or car? At least a few months in advance, spring for a copy of your credit scores, Sherry says.
The score you can buy may not be the exact same one your lender uses, but it will grade you on many of the same criteria and give you a good indication of how well you’re managing your credit, she says. It will provide you with specific ways to improve your credit score — in the form of several codes or factors that kept your score from being higher.
If you are denied credit (or don’t qualify for the lender’s best rate), the lender has to show you the credit score it used, thanks to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
You’re entitled to one free copy of each of your three credit bureau reports (Equifax, Experian and TransUnion) every 12 months through AnnualCreditReport.com.
A smart tip is to stagger each of the three reports, Sherry says. Send for one every four months, and you can monitor your credit for free.

Krupp Law – Grand Rapids Bankruptcy Lawyer

 

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Student loans for law school not dischargeable - Grand Rapids Michgian bankruptcy Attorney

Western District of Michigan Bankruptcy Judge Rules Student Loan Not dischargeable in Maas v Northstar Education explains Grand Rapids Bankruptcy Attorney

I. INTRODUCTION.

In this adversary proceeding, Nathan C. Maas (the “Debtor”) seeks a determination that four loans he received while enrolled at Thomas M. Cooley Law School are not educational benefit loans under § 523(a)(8) of the Bankruptcy Code,and that the resulting. As discussed in greater detail below, see Section III infra, the Debtor does not assert that repayment of the loans would constitute an “undue hardship” under § 523(a)(8). References to the court’s docket in the Debtor’s base case are cited herein as“Dkt. No. __;” references to the docket in the adversary proceeding are cited as debts alleged by the lender, Northstar Education Finance, Inc (the “Defendant” or are dischargeable in his chapter 7 case.For the reasons that follow, the court concludes that the debts to Northstar are not dischargeable.  Click for full opinion

 

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Bankruptcy Attorney Reviews - Grand Rapids MI

If you are looking for a good bankruptcy attorney, we can help.  We can answer your bankruptcy questions and explain all your options at no cost to you.

There are a number of bankruptcy attorney review sites that make money from attorney advertising.  Do not use these sites as your only source of finding the right bankruptcy attorney for you.  These site can have solicited reviews or fake reviews that are not from real clients.  The negative reviews can be misleading.  There will always be the one in thousand people that are unhappy regardless of the quality of services.  They are chronically critical and abuse review sites.  The best way to select a bankruptcy attorney that is right for you is to speak with them on the phone and discuss your situation.  make sure you feel comfortable with the bankruptcy attorney that you choose.

If you are facing a bankruptcy, We would be more than happy to discuss it with you at no cost or obligation.  Please call the Grand Rapids Bankruptcy Attorneys at Krupp Law Offices PC.

Christian G Krupp II

KRUPP LAW OFFICES PC

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or Mail@krupplaw.com

Krupp Law Offices, P.C., represents clients in Grand Rapids, Big Rapids, Ionia, Muskegon, Grand Haven, Stanton, Greenville, Wayland, Allegan, Holland, Newaygo, White Cloud, Fremont, Coopersville, Hastings, Middleville, Wyoming, and Rockford, including Kent County, Ottawa County, Newaygo County, Ionia County, Mecosta County, Barry County, Montcalm County, Allegan County, Osceola County, Lake County and Muskegon County, Michigan.

 

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Grand Rapids Bankruptcy Court

Grand Rapids Bankruptcy Court is located at 1 Division, Grand Rapids MI 49503.  It is on the corner of Division and Fulton.  Grand Rapids is the main location for all of western district bankruptcy for Michigan.  This included the upper peninsula down to the Indiana border and east to Lansing Michigan.

The Grand Rapids Michigan Bankruptcy Attorneys at Krupp Law Offices PC can answer your bankruptcy questions with a free consultation.  If you are facing financial problems, a good affordable bankruptcy lawyer is not optional, it is a requirement! Our bankruptcy attorneys can answer your questions about bankruptcy and other debt relief with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy lawyers have over 95 years of bankruptcy.  We provide excellent service at affordable attorney rates.

Christian G Krupp

KRUPP LAW OFFICES PC

Grand Rapids Bankruptcy Attorney

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or mail@krupplaw.com\

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Biggest Mistakes in Trying to File For Bankruptcy without an Attorney - Explains Bankruptcy Attorney

I receive calls from people who attempt to file their own bankruptcy and make irreparable mistakes that can cost thousands of dollars.  They usually tell me that they thought it was easy because they read about it on the internet.  Considering the cost of hiring an attorney is extremely low, it makes no sense not to hire an attorney.  The cost is typically about 1,000 dollars in attorney fees to avoid thousands of dollars with a mistake or worse, not get a discharge of your debt.  The most common mistakes are as follows:

1.  Not Completing the Bankruptcy Petition Correctly

2.  Not Completing Your Exemptions Correctly (You loose your assets that you could keep)

3.  Not Understanding Preference Payments to Relatives (The Trustee will Sue Them).

If you are facing a bankruptcy, We would be more than happy to discuss it with you at no cost or obligation.  Please call the Grand Rapids Bankruptcy Attorneys at Krupp Law Offices PC.

Christian G Krupp II

KRUPP LAW OFFICES PC

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or Mail@krupplaw.com

Krupp Law Offices, P.C., represents clients in Grand Rapids, Big Rapids, Ionia, Muskegon, Grand Haven, Stanton, Greenville, Wayland, Allegan, Holland, Newaygo, White Cloud, Fremont, Coopersville, Hastings, Middleville, Wyoming, and Rockford, including Kent County, Ottawa County, Newaygo County, Ionia County, Mecosta County, Barry County, Montcalm County, Allegan County, Osceola County, Lake County and Muskegon County, Michigan.

 

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Michigan Driver’s Responsibility Fees Are Dischargeable in Bankruptcy

Michigan Driver’s Responsibility Fees Are Dischargeable in Bankruptcy.

Michigan Driver’s Responsibility Fees can become over whelming.  Typically thousands of dollars.  If you don’t pay the fees you will get your license suspended or they will not reinstate your driver’s license.  This can result in a “chicken and egg” problem.  Without a driver’s license, you cannot get a job to pay the fees.

Typically there are other debts that are causing additional hardship.  There is no minimum you need to owe to file for bankruptcy.  Obviously, you have to consider the cost of filing for bankruptcy compared to the amount owed.  We would be happy to discuss you options for free.

Christian G Krupp

KRUPP LAW OFFICES PC

GRAND RAPIDS BANKRUPTCY ATTORNEYS

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636

Krupp Law Offices, P.C., represents clients in Grand Rapids, Big Rapids, Ionia, Muskegon, Grand Haven, Stanton, Greenville, Wayland, Allegan, Holland, Newaygo, White Cloud, Fremont, Coopersville, Hastings, Middleville, Wyoming, and Rockford, including Kent County, Ottawa County, Newaygo County, Ionia County, Mecosta County, Barry County, Montcalm County, Allegan County, Osceola County, Lake County and Muskegon County, Michigan.

 

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Grand Rapids Bankruptcy Filing Fees To Increase June 1, 2014.- Krupp Law Offices PC

BANKRUPTCY FILING FEES IN GRAND RAPIDS MICHIGAN

Effective June 1, 2014 bankruptcy filing fees will increase.  The changes in fling fees are as follows:

Chapter 7 Bankruptcy Filing Fees increase from 306 to 335.00

Chapter 13 Bankruptcy Filing Fees increase from 281.00 to 310.00.

Our bankruptcy attorneys can answer your questions about bankruptcy and other debt relief with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy lawyers have over 95 years of bankruptcy experience and are located in Grand Rapids Michigan. We can provide you with excellent bankruptcy representation.

Christian G Krupp

KRUPP LAW OFFICES PC

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or mail@krupplaw.com

 

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Kentwood Michigan Bankruptcy Attorney

The Kentwood Michigan Bankruptcy Attorneys at Krupp Law Offices PC can answer your bankruptcy questions with a free consultation.  If you are facing financial problems, a good bankruptcy lawyer is not optional, it is a requirement! Our bankruptcy attorneys can answer your questions about bankruptcy and other debt relief with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy lawyers have over 95 years of bankruptcy experience and are located in Grand Rapids Michigan. We can provide you with excellent bankruptcy representation if you live in Kentwood Michigan or Kent County.

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Christian G Krupp

KRUPP LAW OFFICES PC

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or mail@krupplaw.com

 

Caledonia Michigan Bankruptcy Attorney

The Caledonia Michigan Bankruptcy Attorneys at Krupp Law Offices PC can answer your bankruptcy questions with a free consultation.  If you are facing financial problems, a good bankruptcy lawyer is not optional, it is a requirement! Our bankruptcy attorneys can answer your questions about bankruptcy and other debt relief options.  Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy lawyers have over 95 years of bankruptcy experience and are located in Grand Rapids Michigan. We can provide you with excellent bankruptcy representation if you live in Caledonia Michigan or Kent County.

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Christian G Krupp

KRUPP LAW OFFICES PC

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or mail@krupplaw.com