Bankruptcy comes with an inherently negative connotation, for very good reason. It is a decision that should be considered carefully, as it can significantly damage your credit and results in many consequences in your life. However, not everything about bankruptcy is bad and there are several benefits to filing for bankruptcy, despite the downsides. However, when you decide to file for bankruptcy, you need to consult with a legal professional to learn both the pros and cons of bankruptcy and determine how bankruptcy will impact your life.

Automatic Stay

In many cases, filing for bankruptcy will result in an automatic stay being issued from the court. This is a legal injunction that stops any kind of collection from debtors. This can be incredibly helpful, as it will stop collectors from harassing you. You won’t have to dodge phone calls to avoid collectors, as the automatic stay will legally prohibit these collectors from contacting you until further proceedings have been completed. This can make your life much easier.

Clears Debt

Bankruptcy can help to either clear your debt or create a repayment plan for debts that cannot be discharged. An incredible advantage to this is that the cleared debts are gone permanently, which means that these debts will no longer impact your life and will allow you to focus on rebuilding your credit and your life.

There are both advantages and disadvantages of filing for bankruptcy. It is absolutely vital to obtain superior legal counsel to ensure that you are able to procure the best result after your bankruptcy case has been settled. Our attorneys are experienced and are able to effectively guide you through the bankruptcy process. To learn more about the impact bankruptcy can have on your life, contact us at LeBaron & Jensen today!

Bankruptcy has a significant impact on your credit. The overall impact will depend on the type of bankruptcy that is filed, but a bankruptcy generally imposes a harsh penalty on your credit score for 7-10 years. Due to the impact that a bankruptcy has on your credit score, it will be vital to take the proper steps to repair your credit after the bankruptcy has ended. Bankruptcies provide you with the opportunity to rebuild your life, which is why it is important to take the necessary steps to repair your credit after bankruptcy.

Carefully Monitor your Account Statuses and Credit Report

It is important to monitor your accounts carefully to prevent errors from further damaging your credit score. Each account on your report should say “discharged” or “included in bankruptcy.” If the status says anything different, there is likely an error that needs to be resolved. In addition to this, you will need to make sure that all of the balances are zeroed out, rather than stating any balance. You will want to monitor your credit closely during the time following your bankruptcy to ensure that the changes you are making are having a positive impact on your credit.

Get New Credit

The only way to build up your credit after bankruptcy is to get new credit. This can be rather difficult, especially as many credit applications may be rejected due to the bankruptcy. One option in this situation is to apply for a secured credit card. These cards require a security deposit. The credit limit is generally the amount of the deposit minus any relevant fees. In many cases, consistent, reliable payments will result in the company awarding you an unsecured credit card after a period of time. Retail cards are another option for building your credit, as they generally have less stringent credit requirements. Ensure that you make all of your new credit payments on time and keep the balance on your credit card below 30% of the credit limit.

Be patient when you attempt to rebuild your credit. It is a process that can take months and even years to complete. Bankruptcy has a significant impact on your life, which is why it is important to consult with a legal professional when you intend to file for bankruptcy. To learn more about bankruptcy and the impact it can have on your life, contact our experts at LeBaron & Jensen today!

            Evictions aren’t fun for anyone involved. They are life-disrupting to tenants and can be extremely expensive for landlords. Learning common reasons landlords evict tenants can help both parties prevent evictions from becoming necessary.

1. Nonpayment of Rent

            Nonpayment of rent is the most common cause of eviction, for obvious reasons. In most cases, the landlord is required to allow the payments to be made up before finally evicting the tenant. Only after providing all of the necessary notices can a landlord file for eviction.

2. Habitual Late Payments

            Not only is nonpayment a common reason for eviction, but habitual late payments may also be cause enough for eviction. The laws vary regarding time lengths and how many days are considered late. This is why it is very important to ensure that you have checked all of the laws in your area.

3. Breach of Lease

            A breach of lease may also result in eviction. There are many ways that a lease contract can be breached. Some of the common reasons include unauthorized pets, unapproved occupants, subletting without permission, improper use of the building, consistent nuisance complaints, and more.

4. Committed Crime on the Premises

            Any crime committed on the premises may result in eviction. This can include everything from distributing drugs to operating a business. This even includes legitimate businesses that don’t have the proper licensing to be run from home.

5. Property Damage

            Property damage can give a landlord cause to evict the tenant. This can include making unapproved repairs that ultimately damage the property or engaging in reckless behavior that leads to property damage. This doesn’t include regular wear and tear from daily life. Whenever someone resides in a building, a certain amount of wear is to be expected.

6. Expiration of Lease

            If the lease has expired, the landlord is allowed to evict the occupant. Most contracts are designed to progress to a month-to-month basis after the initial contract has expired. This may become a difficult process, especially if the tenant continues to pay rent. All necessary notices will have to be provided prior to eviction.

7. Owner Move-in

            If the owner wishes to move in to their rental property, they are allowed to do so, but they must provide the proper amount and type of notice to their tenant. It is very important to brush up on the applicable laws before taking any eviction-based action in this scenario.

            It is important to follow all of the proper steps during the eviction process. Self-evictions are almost never legal. Ensure that there is valid cause and consider obtaining a lawyer when undergoing an eviction case. To obtain counsel regarding an eviction case, contact us at LeBaron & Jensen today!