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Ex-Lehman CEO blames government for firm’s collapse

Richard Fuld cites the decision ‘not to provide Lehman with the support given to each of its competitors.’ His testimony comes in the final set of Washington hearings by a federal panel investigating the financial crisis. The former chief executive of Lehman Bros., whose failure in 2008 helped trigger the financial crisis, blamed the government for its collapse, saying Wednesday there was a double standard in the decision by federal officials to grant extraordinary assistance to other companies but let his go bankrupt.

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Baxter & Baxter, LLP | Bankruptcy Practice Group

Oregon Bankruptcy & Washington Bankruptcy . Bankruptcy Practice Group This information is presented by the Bankruptcy Practice Group of Baxter & Baxter, LLP. The Portland, Oregon bankruptcy attorneys and Vancouver WA bankruptcy lawyers of the Bankruptcy Practice Group represent individuals in Chapter 7 and Chapter 13 bankruptcies. We offer a free initial phone consultation. We can stop collection calls from debt collectors and home foreclosures. We can advise consumers whether to file for bankruptcy, and what form of bankruptcy to file. Get a Fresh Start Today! When the financial troubles of life come your way, and the creditors won’t stop calling, bankruptcy could be the right choice for you, bankruptcy will not ruin you like the debt consolidation programs often claim. It could be a fresh start provided to you by the government. After bankruptcy it could only take 2 years to rebuild your credit and get you back on track. Our law offices can help you choose your best options and get you on the road to financial recovery Discover the advantages of bankruptcy before making your next move. Our rates are competitive, and an uncontested no-asset Chapter 7 bankruptcy can be filed for as little as a $1,250 attorney fee (plus the applicable court filing fee). If you don’t have the full fee right now, call us to discuss prioritizing your payments. Sound Advice with Dignity and Empathy Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person’s control — loss of a job, divorce, or significant illness. The stress of these events is compounded by collection letters and calls, and the fear of losing a home to foreclosure. The dedicated and compassionate bankruptcy attorneys of Baxter & Baxter, LLP, understand all of these realities, and endeavor to provide clear and concise advice, so that the bankruptcy process is as transparent and understandable as possible. Once the bankruptcy is completed and the discharge order is entered, our clients can begin a new life and get a fresh start! Benefits of Filing for Bankruptcy Filing for bankruptcy is a serious and important decision that has significant ramifications. The Portland bankruptcy lawyers of Baxter & Baxter, LLP, can help you decide whether filing for bankruptcy is right for you. We can advise you on whether you qualify for a Chapter 7 liquidation, or would be better served by entering into a Chapter 13 repayment plan. Among the many benefits of filing for bankruptcy are: * Stop garnishments on bank accounts and wages * Stop home foreclosures * Stop harassing phone calls from bill collectors and collection agencies * Prevent utilities from being shut off * Stop car and truck repossessions * Eliminate some back taxes Filing for Bankruptcy in Oregon and Washington The most common types of personal bankruptcy for individuals are Chapter 7 and Chapter 13. As much as 65% of all U.S. consumer bankruptcy filings are Chapter 7 cases. In Chapter 7, a debtor surrenders his or her non-exempt property to a bankruptcy trustee who then liquidates the property and distributes the proceeds to the debtor’s unsecured creditors. In exchange, the debtor is entitled to a discharge of most of their debt. Certain debts (e.g. spousal and child support, student loans, some taxes) will not be discharged even though the debtor is generally discharged from his or her debt. Many individuals in financial distress own only exempt property (e.g. clothes, household goods, an older car) and will not have to surrender any property to the trustee. The amount of property that a debtor may exempt varies from state to state. Chapter 7 relief is available only once in any eight year period. Generally, the rights of secured creditors to their collateral continues even though their debt is discharged. In Chapter 13, the debtor retains ownership and possession of all of his or her assets, but must devote some portion of his or her future income to repaying creditors, generally over a period of three to five years. The amount of payment and the period of the repayment plan depend upon a variety of factors, including the value of the debtor’s property and the amount of a debtor’s income and expenses. Secured creditors may be entitled to greater payment than unsecured creditors. Portland, Oregon Bankruptcy Law Offices The Portland, Oregon bankruptcy attorneys of Baxter & Baxter, LLP have offices in SW Portland, and represent consumers in Beaverton, Tigard, Hillsboro, Aloha, Tualatin, and other cities. If you would like a free telephone consultation with an Oregon bankruptcy lawyer, call (503) 297-9031 today! Vancouver, Washington Bankruptcy Law Offices The Vancouver, Washington bankruptcy attorneys of Baxter & Baxter, LLP have offices in SW Washington, and represent consumers in Vancouver, Clark County, and Cowlitz County. If you would like a free telephone consultation with an Oregon bankruptcy lawyer, call (360) 574-5239 today! Member of National Association of Consumer Bankruptcy Attorneys (NACBA) “We are a debt relief agency. We help people file for relief under the Bankruptcy Code.”

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Why Should You Hire a Bankruptcy Attorney?

Why Should You Hire a Bankruptcy Attorney ? Lara M. Gardner Filing bankruptcy can be one of the most difficult choices a person makes. Often you have been struggling to meet your financial obligations. Something happens and the house of cards comes tumbling down, leaving you faced with a proposition that seems like failure. It is difficult and frustrating. You go to see an attorney and realize that even though you have no money to pay your bills, the attorney wants over a thousand dollars or more to represent you. You discover there may be an alternative. You could pay someone much less to prepare your petition for you. You think Why not? Your case isn’t complicated, at least you don’t think it is. You pay a few hundred dollars and file your case. You may be okay. More likely, after things go very wrong you will realize that you should have hired an attorney. Bankruptcy is more complicated than it appears on the surface. People who have seen or attended a bankruptcy hearing testify that the meetings are often over quickly. What is not apparent from the meeting is that most of the complicated work is done before the meeting takes place. The hearing should go smoothly if everything was done right ahead of time. Having sat through countless hearings while representing debtors in the bankruptcy cases, I can assure you that bankruptcy is often more complicated than it looks, especially since the changes that took place in the bankruptcy laws in 2005. Bankruptcy is more than what bills you owe. People often do not realize that all of their belongings are assets that may or may not be exempt. You may fail to disclose an item that could have been protected, only to lose it because of the lack of disclosure. The actions taken in the years and months leading up to bankruptcy can have consequences, and can cause unintended ramifications for friends and family members. Every consumer bankruptcy case is assigned to a trustee. That person is responsible for ensuring the interests of your creditors are protected. When you hire a bankruptcy attorney, this person is there to represent you. Your attorney can help you to determine which debts you can discharge or pay off. Your attorney will help you protect assets that are not exempt, and will help you to do so legally. Your attorney will make sure you list every asset and that every asset that can be is protected. Your attorney will help you ensure that bankruptcy is what it is intended to be: a fresh start. When you pay an attorney, you are paying that person to ensure you file everything you are supposed to file, turn over all the paperwork you are required to turn over, help you maximize your assets and minimize your losses, and to represent you against your creditors. In short, you are paying for the best fresh start you can muster. What can a petition preparer do? Legally, all a petition preparer can do is fill in the blanks on your bankruptcy documents. If you choose to pay someone hundreds of dollars for this service you are, in effect, paying hundreds of dollars for data entry service. If a petition preparer does more than enter information into your petition, that person is breaking the law. Both federal bankruptcy laws and state rules governing the practice of law forbid anyone except a licensed attorney from giving you advice. Why? To protect you, the consumer. If an attorney messes up your case, there are protections in place to help you. Attorneys in Oregon,Washington, and many other states are required to carry malpractice insurance. They can also be sanctioned by their bars for failure to adhere to a basic code of conduct. There are no systems in place to help you if a document preparer messes up your petition or gives you erroneous advice. You may be able to file a complaint claiming they practiced law without a license, and while the person may face fines or sanctions, you will not get anything to cover your losses. Hiring an attorney to represent you during your bankruptcy can be expensive. After suffering through financial difficulties and falling behind on your financial obligations, handing over a large sum of money to an attorney can seem like a real hardship. But bankruptcy is not an area to shortchange yourself. Filing bankruptcy is your opportunity to make a fresh start. Make it the best start it can be by hiring a good attorney to represent, protect, and advise you. Think of it as your first investment in a new financial future. Lara Gardner is a consumer bankruptcy attorney for the consumer protection law firm of Baxter & Baxter, LLP. Click here to learn more about Lara. This information is presented by the Bankruptcy Practice Group of Baxter & Baxter, LLP. The Portland, Oregon bankruptcy attorneys and Vancouver WA bankruptcy lawyers of the Bankruptcy Practice Group represent individuals in Chapter 7 and Chapter 13 bankruptcies. We offer a free initial phone consultation. We can stop collection calls from debt collectors and home foreclosures. We can advise consumers whether to file for bankruptcy, and what form of bankruptcy to file. “We are a debt relief agency. We help people file for relief under the Bankruptcy Code.”

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Baxter & Baxter, LLP | Vancouver WA Bankruptcy A Bankruptcy News and Information Website Presented by the Consumer Bankruptcy Attorneys of Baxter…

A Bankruptcy News and Information Website Presented by the Consumer Bankruptcy Attorneys of Baxter & Baxter, LLP * Log In Categories: * Uncategorized Welcome to our News and Information Site This information is presented by the attorneys of Baxter & Baxter, LLP, a Pacific Northwest law firm with offices in Vancouver, Washington, and Portland, Oregon. To visit our firm’s main website, visit www.baxterlaw.com. The Vancouver WA bankruptcy attorneys in the Bankruptcy Practice Group represent Vancouver and other SW Washington consumers in Chapter 7 and Chapter 13 bankruptcies. To speak with a Vancouver Washington Bankruptcy attorney, call 360.574.5239 Posted in Uncategorized. By Baxter & Baxter, LLP November 16, 2009 No comments Basic Information About Bankruptcy Basic Information About Bankruptcy. Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person’s control — loss of a job, divorce, or significant illness. A recent study published in the American Journal of Medicine concluded that 62.1 percent of the bankruptcies were medically related because the individuals either had more than $5,000 or 10 percent of their pretax income in medical bills, mortgaged their home to pay for medical bills, or lost significant income due to an illness. On average, medically bankrupt families had $17,943 in out-of-pocket expenses, including $26,971 for those who lacked insurance and $17,749 who had insurance at some point. The stress of these events is compounded by collection letters and calls, and the fear of losing a home to foreclosure. Posted in Uncategorized. By Baxter & Baxter, LLP April 19, 2010 Comments Off Basic Information About Bankruptcy Basic Information About Bankruptcy. Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person’s control — loss of a job, divorce, or significant illness. A recent study published in the American Journal of Medicine concluded that 62.1 percent of the bankruptcies were medically related because the individuals either had more than $5,000 or 10 percent of their pretax income in medical bills, mortgaged their home to pay for medical bills, or lost significant income due to an illness. On average, medically bankrupt families had $17,943 in out-of-pocket expenses, including $26,971 for those who lacked insurance and $17,749 who had insurance at some point. The stress of these events is compounded by collection letters and calls, and the fear of losing a home to foreclosure. Posted in Uncategorized. By Baxter & Baxter, LLP April 19, 2010 Comments Off Basic Information About Bankruptcy Basic Information About Bankruptcy. Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person’s control — loss of a job, divorce, or significant illness. A recent study published in the American Journal of Medicine concluded that 62.1 percent of the bankruptcies were medically related because the individuals either had more than $5,000 or 10 percent of their pretax income in medical bills, mortgaged their home to pay for medical bills, or lost significant income due to an illness. On average, medically bankrupt families had $17,943 in out-of-pocket expenses, including $26,971 for those who lacked insurance and $17,749 who had insurance at some point. The stress of these events is compounded by collection letters and calls, and the fear of losing a home to foreclosure. Posted in Uncategorized. By Baxter & Baxter, LLP April 19, 2010 Comments Off Bankruptcy Articles Bankruptcy Articles. Remedies For Attempt To Collect Debts Included In Bankruptcy Justin Baxter One of the most important benefits of filing for bankruptcy is that it will stop collection calls, letters, and other activities by debt collectors. This includes garnishments, lawsuits, and repossessions. When creditors or collectors do not cease collection efforts, consumers may be able to seek additional recourse in court. This article discusses some of the key protections for debtors who are being harassed over bills included in bankruptcy. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 12 Why The Failure Of The “cram Down” Legislation Hurts Everyone Justin Baxter Last April, the United States Senate voted against legislation that would let bankruptcy court judges modify home mortgages in bankruptcy. The failure of this legislation is a significant loss to home-owners, neighbors of homes on the verge of foreclosure, and ironically, to lenders. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 16 Debunking Myths About Why People File For Bankruptcy Justin Baxter A common misperception about bankruptcy is that people who file for bankruptcy were irresponsible with their finances, or recklessly incurred debt they could not repay. While these circumstances certainly are a factor in some bankruptcies, recent studies and analysis demonstrate that the majority of bankruptcies are precipitated by causes outside of a person’s control. Leading causes of bankruptcy are death, divorce, and unemployment. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 10 I’ve Filed For Bankruptcy In The Past; Can I File Again? Justin Baxter Yes. A person can file for bankruptcy more than once, but you may have to wait a particular amount of time since the last time you filed for bankruptcy in order to obtain a discharge of your current or newly incurred debts. The policy underlying the United States Bankruptcy Code is to permit any person to obtain a fresh start from their debts. Unfortunately, unforeseen circumstances, such as death, divorce, or unemployment can necessitate filing a new bankruptcy. The amount of time you have By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 The Presumption Of Abuse And Qualification For Chapter 7 Discharge Justin Baxter Significant Changes to the Bankruptcy Code under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA): The Presumption of Abuse and Qualification for Chapter 7 Discharge By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 Basic Information About Bankruptcy Justin Baxter Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person’s control — loss of a job, divorce, or significant illness. A recent study published in the American Journal of Medicine concluded that 62.1 percent of the bankruptcies were medically related because the individuals either had more than $5,000 or 10 percent of their pretax income in medical bills, mortgaged their home to pay for medical bills, or lost By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 The Effect Of Filing For Bankruptcy On A Home Foreclosure Justin Baxter In the years leading up the recent financial crisis, the housing bubble spurred a dramatic rise in new home ownership. At the same time, many of the nonconventional mortgage schemes (also known as “subprime” loans) precipitated many of the financial woes currently being felt by millions of Americans. Burdened with rising debt, adjusting mortgage payments, and sharply falling home values, many homes are falling into foreclosure. This article discusses how filing for bankruptcy can affect a hom Posted in Uncategorized. By Baxter & Baxter, LLP April 19, 2010 Comments Off Bankruptcy Articles Bankruptcy Articles. Remedies For Attempt To Collect Debts Included In Bankruptcy Justin Baxter One of the most important benefits of filing for bankruptcy is that it will stop collection calls, letters, and other activities by debt collectors. This includes garnishments, lawsuits, and repossessions. When creditors or collectors do not cease collection efforts, consumers may be able to seek additional recourse in court. This article discusses some of the key protections for debtors who are being harassed over bills included in bankruptcy. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 12 Why The Failure Of The “cram Down” Legislation Hurts Everyone Justin Baxter Last April, the United States Senate voted against legislation that would let bankruptcy court judges modify home mortgages in bankruptcy. The failure of this legislation is a significant loss to home-owners, neighbors of homes on the verge of foreclosure, and ironically, to lenders. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 16 Debunking Myths About Why People File For Bankruptcy Justin Baxter A common misperception about bankruptcy is that people who file for bankruptcy were irresponsible with their finances, or recklessly incurred debt they could not repay. While these circumstances certainly are a factor in some bankruptcies, recent studies and analysis demonstrate that the majority of bankruptcies are precipitated by causes outside of a person’s control. Leading causes of bankruptcy are death, divorce, and unemployment. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 10 I’ve Filed For Bankruptcy In The Past; Can I File Again? Justin Baxter Yes. A person can file for bankruptcy more than once, but you may have to wait a particular amount of time since the last time you filed for bankruptcy in order to obtain a discharge of your current or newly incurred debts. The policy underlying the United States Bankruptcy Code is to permit any person to obtain a fresh start from their debts. Unfortunately, unforeseen circumstances, such as death, divorce, or unemployment can necessitate filing a new bankruptcy. The amount of time you have By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 The Presumption Of Abuse And Qualification For Chapter 7 Discharge Justin Baxter Significant Changes to the Bankruptcy Code under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA): The Presumption of Abuse and Qualification for Chapter 7 Discharge By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 Basic Information About Bankruptcy Justin Baxter Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person’s control — loss of a job, divorce, or significant illness. A recent study published in the American Journal of Medicine concluded that 62.1 percent of the bankruptcies were medically related because the individuals either had more than $5,000 or 10 percent of their pretax income in medical bills, mortgaged their home to pay for medical bills, or lost By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 The Effect Of Filing For Bankruptcy On A Home Foreclosure Justin Baxter In the years leading up the recent financial crisis, the housing bubble spurred a dramatic rise in new home ownership. At the same time, many of the nonconventional mortgage schemes (also known as “subprime” loans) precipitated many of the financial woes currently being felt by millions of Americans. Burdened with rising debt, adjusting mortgage payments, and sharply falling home values, many homes are falling into foreclosure. This article discusses how filing for bankruptcy can affect a hom Posted in Uncategorized. By Baxter & Baxter, LLP April 19, 2010 Comments Off Bankruptcy Articles Bankruptcy Articles. Remedies For Attempt To Collect Debts Included In Bankruptcy Justin Baxter One of the most important benefits of filing for bankruptcy is that it will stop collection calls, letters, and other activities by debt collectors. This includes garnishments, lawsuits, and repossessions. When creditors or collectors do not cease collection efforts, consumers may be able to seek additional recourse in court. This article discusses some of the key protections for debtors who are being harassed over bills included in bankruptcy. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 12 Why The Failure Of The “cram Down” Legislation Hurts Everyone Justin Baxter Last April, the United States Senate voted against legislation that would let bankruptcy court judges modify home mortgages in bankruptcy. The failure of this legislation is a significant loss to home-owners, neighbors of homes on the verge of foreclosure, and ironically, to lenders. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 16 Debunking Myths About Why People File For Bankruptcy Justin Baxter A common misperception about bankruptcy is that people who file for bankruptcy were irresponsible with their finances, or recklessly incurred debt they could not repay. While these circumstances certainly are a factor in some bankruptcies, recent studies and analysis demonstrate that the majority of bankruptcies are precipitated by causes outside of a person’s control. Leading causes of bankruptcy are death, divorce, and unemployment. By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 10 I’ve Filed For Bankruptcy In The Past; Can I File Again? Justin Baxter Yes. A person can file for bankruptcy more than once, but you may have to wait a particular amount of time since the last time you filed for bankruptcy in order to obtain a discharge of your current or newly incurred debts. The policy underlying the United States Bankruptcy Code is to permit any person to obtain a fresh start from their debts. Unfortunately, unforeseen circumstances, such as death, divorce, or unemployment can necessitate filing a new bankruptcy. The amount of time you have By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 The Presumption Of Abuse And Qualification For Chapter 7 Discharge Justin Baxter Significant Changes to the Bankruptcy Code under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA): The Presumption of Abuse and Qualification for Chapter 7 Discharge By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 Basic Information About Bankruptcy Justin Baxter Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person’s control — loss of a job, divorce, or significant illness. A recent study published in the American Journal of Medicine concluded that 62.1 percent of the bankruptcies were medically related because the individuals either had more than $5,000 or 10 percent of their pretax income in medical bills, mortgaged their home to pay for medical bills, or lost By: Justin Baxterl Law> Bankruptcy l Apr 12, 2010 lViews: 11 The Effect Of Filing For Bankruptcy On A Home Foreclosure Justin Baxter In the years leading up the recent financial crisis, the housing bubble spurred a dramatic rise in new home ownership. At the same time, many of the nonconventional mortgage schemes (also known as “subprime” loans) precipitated many of the financial woes currently being felt by millions of Americans. Burdened with rising debt, adjusting mortgage payments, and sharply falling home values, many homes are falling into foreclosure. This article discusses how filing for bankruptcy can affect a hom Posted in Uncategorized. By Baxter & Baxter, LLP April 19, 2010 Comments Off How Will Filing For Bankruptcy Affect My Credit? By: Justin Baxter How will Filing for Bankruptcy Affect my Credit? Bankruptcy is a life changing event in any person’s life, with long lasting consequence. For example, a record of the bankruptcy will appear in the Public Records section of your consumer credit report for the next ten years. Having said that, however, consumers can and do seek and obtain credit after going through bankruptcy. What Information will be on my Credit Reports? In addition to the public record of the bankruptcy, each of your creditors that were included in the bankruptcy will update your account to reflect the bankruptcy. The exact information reported will vary based upon the history of the account at the time the bankruptcy is filed. In general, most accounts should be reported as “Included in Bankruptcy.” Some may refer to the specific type of bankruptcy with remarks such as “Chapter 7″ or “Wage earner repayment plan.” After bankruptcy, the balance, current payment, and amount past due should all reflect zero dollars. However, if you were late on your bills before your bankruptcy was filed, those notations may or may not appear on your credit reports. The last part of this article discusses how to dispute false information on your credit reports after bankruptcy. Will I be Able to Get Credit after Bankruptcy? For the majority of consumers that file for bankruptcy and either obtain a discharge (Chapter 7) or complete their repayment plan (Chapter 13), the answer is “Yes”. It is likely that credit will be more costly than prior to bankruptcy, which may be reflected in higher interest rates, security deposits, or lower amounts of credit offered. The two most important factors in being able to obtain credit after bankruptcy are 1) paying all of your bills on time after bankruptcy; and 2) the length of time that passes after your bankruptcy. Obviously, you have control over the former, but not the latter. Consumers can rebuild their credit after bankruptcy by using low limit or secured credit card accounts, and conscientiously paying them off each and every month. How to Dispute False Credit Reports after Bankruptcy As noted above, post-bankruptcy credit reports should show discharged accounts as “Included in Bankruptcy” with a zero balance and zero past due. Often these accounts are reported inaccurately, or have not been updated with the correct information. Under the Fair Credit Reporting Act, consumers have the right to dispute false or incomplete information in their credit reports. First, get a copy of your credit report. Consumers can request their free annual credit report by writing to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The request form is available at the annualcreditreport.com website. Next, send a written dispute letter to the credit reporting agencies. Tell them that you filed for bankruptcy, and give them the bankruptcy court case number. List the specific accounts and account numbers which were discharged. Send your letter via certified mail, with a return receipt requested. Keep a copy of your signed, dated letter, along with copies of enclosures. If you cannot get false information deleted from your credit report, you may want to talk to a consumer protection attorney about your rights under the Fair Credit Reporting Act. About the Author Justin M. Baxter Baxter & Baxter, LLP 8835 SW Canyon Lane, Suite 130 Portland, Oregon USA Bankruptcy Attorney (ArticlesBase SC #2140642) Article Source: http://www.articlesbase.com/ – How Will Filing For Bankruptcy Affect My Credit? Posted in Uncategorized. By Baxter & Baxter, LLP April 16, 2010 Comments Off How Will Filing For Bankruptcy Affect My Credit? By: Justin Baxter How will Filing for Bankruptcy Affect my Credit? Bankruptcy is a life changing event in any person’s life, with long lasting consequence. For example, a record of the bankruptcy will appear in the Public Records section of your consumer credit report for the next ten years. Having said that, however, consumers can and do seek and obtain credit after going through bankruptcy. What Information will be on my Credit Reports? In addition to the public record of the bankruptcy, each of your creditors that were included in the bankruptcy will update your account to reflect the bankruptcy. The exact information reported will vary based upon the history of the account at the time the bankruptcy is filed. In general, most accounts should be reported as “Included in Bankruptcy.” Some may refer to the specific type of bankruptcy with remarks such as “Chapter 7″ or “Wage earner repayment plan.” After bankruptcy, the balance, current payment, and amount past due should all reflect zero dollars. However, if you were late on your bills before your bankruptcy was filed, those notations may or may not appear on your credit reports. The last part of this article discusses how to dispute false information on your credit reports after bankruptcy. Will I be Able to Get Credit after Bankruptcy? For the majority of consumers that file for bankruptcy and either obtain a discharge (Chapter 7) or complete their repayment plan (Chapter 13), the answer is “Yes”. It is likely that credit will be more costly than prior to bankruptcy, which may be reflected in higher interest rates, security deposits, or lower amounts of credit offered. The two most important factors in being able to obtain credit after bankruptcy are 1) paying all of your bills on time after bankruptcy; and 2) the length of time that passes after your bankruptcy. Obviously, you have control over the former, but not the latter. Consumers can rebuild their credit after bankruptcy by using low limit or secured credit card accounts, and conscientiously paying them off each and every month. How to Dispute False Credit Reports after Bankruptcy As noted above, post-bankruptcy credit reports should show discharged accounts as “Included in Bankruptcy” with a zero balance and zero past due. Often these accounts are reported inaccurately, or have not been updated with the correct information. Under the Fair Credit Reporting Act, consumers have the right to dispute false or incomplete information in their credit reports. First, get a copy of your credit report. Consumers can request their free annual credit report by writing to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The request form is available at the annualcreditreport.com website. Next, send a written dispute letter to the credit reporting agencies. Tell them that you filed for bankruptcy, and give them the bankruptcy court case number. List the specific accounts and account numbers which were discharged. Send your letter via certified mail, with a return receipt requested. Keep a copy of your signed, dated letter, along with copies of enclosures. If you cannot get false information deleted from your credit report, you may want to talk to a consumer protection attorney about your rights under the Fair Credit Reporting Act. About the Author Justin M. Baxter Baxter & Baxter, LLP 8835 SW Canyon Lane, Suite 130 Portland, Oregon USA Bankruptcy Attorney (ArticlesBase SC #2140642) Article Source: http://www.articlesbase.com/ – How Will Filing For Bankruptcy Affect My Credit? Posted in Uncategorized. By Baxter & Baxter, LLP April 16, 2010 Comments Off How Will Filing For Bankruptcy Affect My Credit? By: Justin Baxter How will Filing for Bankruptcy Affect my Credit? Bankruptcy is a life changing event in any person’s life, with long lasting consequence. For example, a record of the bankruptcy will appear in the Public Records section of your consumer credit report for the next ten years. Having said that, however, consumers can and do seek and obtain credit after going through bankruptcy. What Information will be on my Credit Reports? In addition to the public record of the bankruptcy, each of your creditors that were included in the bankruptcy will update your account to reflect the bankruptcy. The exact information reported will vary based upon the history of the account at the time the bankruptcy is filed. In general, most accounts should be reported as “Included in Bankruptcy.” Some may refer to the specific type of bankruptcy with remarks such as “Chapter 7″ or “Wage earner repayment plan.” After bankruptcy, the balance, current payment, and amount past due should all reflect zero dollars. However, if you were late on your bills before your bankruptcy was filed, those notations may or may not appear on your credit reports. The last part of this article discusses how to dispute false information on your credit reports after bankruptcy. Will I be Able to Get Credit after Bankruptcy? For the majority of consumers that file for bankruptcy and either obtain a discharge (Chapter 7) or complete their repayment plan (Chapter 13), the answer is “Yes”. It is likely that credit will be more costly than prior to bankruptcy, which may be reflected in higher interest rates, security deposits, or lower amounts of credit offered. The two most important factors in being able to obtain credit after bankruptcy are 1) paying all of your bills on time after bankruptcy; and 2) the length of time that passes after your bankruptcy. Obviously, you have control over the former, but not the latter. Consumers can rebuild their credit after bankruptcy by using low limit or secured credit card accounts, and conscientiously paying them off each and every month. How to Dispute False Credit Reports after Bankruptcy As noted above, post-bankruptcy credit reports should show discharged accounts as “Included in Bankruptcy” with a zero balance and zero past due. Often these accounts are reported inaccurately, or have not been updated with the correct information. Under the Fair Credit Reporting Act, consumers have the right to dispute false or incomplete information in their credit reports. First, get a copy of your credit report. Consumers can request their free annual credit report by writing to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The request form is available at the annualcreditreport.com website. Next, send a written dispute letter to the credit reporting agencies. Tell them that you filed for bankruptcy, and give them the bankruptcy court case number. List the specific accounts and account numbers which were discharged. Send your letter via certified mail, with a return receipt requested. Keep a copy of your signed, dated letter, along with copies of enclosures. If you cannot get false information deleted from your credit report, you may want to talk to a consumer protection attorney about your rights under the Fair Credit Reporting Act. About the Author Justin M. Baxter Baxter & Baxter, LLP 8835 SW Canyon Lane, Suite 130 Portland, Oregon USA Bankruptcy Attorney (ArticlesBase SC #2140642) Article Source: http://www.articlesbase.com/ – How Will Filing For Bankruptcy Affect My Credit? Posted in Uncategorized. By Baxter & Baxter, LLP April 16, 2010 Comments Off Bankrutpcy Articles Why the Failure of the “Cram Down” Legislation Hurts Everyone (April 12, 2010) # Debunking Myths about why People File for Bankruptcy (April 12, 2010) # The Effect of Filing for Bankruptcy on a Home Foreclosure (April 12, 2010) # Remedies for Attempt to Collect Debts Included in Bankruptcy (April 12, 2010) # I’ve Filed for Bankruptcy in the Past; Can I File Again? (April 12, 2010) # The Process of Filing for Bankruptcy (April 12, 2010) # Significant Changes to the Bankruptcy Code under the BAPCPA (April 12, 2010) # Basic Information about Bankruptcy (April 12, 2010) # What can Credit Card Companies do if I’m Late on my Payment? (April 12, 2010) Posted in Uncategorized. By Baxter & Baxter, LLP April 15, 2010 Comments Off « Older posts Subscribe Site RSS feed Baxter & Baxter, LLP This information is presented by the consumer protection attorneys of Baxter & Baxter, LLP, a Pacific Northwest law firm with offices in Vancouver, Washington, and Portland, Oregon. The Vancouver WA bankruptcy attorneys in the Bankruptcy Practice Group represent Vancouver and other SW Washington consumers in Chapter 7 and Chapter 13 bankruptcies. Baxter & Baxter, LLP 310 West 11th Street Vancouver, Washington 98660 360-574-5239 (Phone) www.baxterlaw.com Contact Us To talk with an Oregon consumer protection lawyer call (503) 297-9031. To talk with a Portland Oregon bankruptcy attorney call (503) 297-9031. To get answers to questions about Vancouver WA Bankruptcy attorney call (360) 574-5239. For more information about Lyndon Ruhnke, visit our website. For more information about Lara Gardner, visit our website. Disclaimer The information and materials available on this website are for informational purposes only and do not constitute legal advice. If you have not signed a Retainer Agreement with Baxter & Baxter, LLP, this firm does not represent you. You should not assume an attorney-client relationship exists. Nothing in the information or materials available on or accessed from this website, including any exchange of information through this website, creates an attorney-client relationship. Do not send any confidential or privileged information to Baxter & Baxter, LLP, until you establish such a relationship. External Link Notice This website contains links to other sites. Baxter & Baxter, LLP, is not responsible for the content of any external site. Please read the privacy policy of every external site you visit before disclosing any personal information. “We are a debt relief agency. 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Michael Hiltzik: Lehman’s collapse was all its own fault

The bankruptcy of Lehman Bros. in September 2008 is widely seen as the event that kicked the financial meltdown into high gear.

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Britain sceptical on US banking reform (AFP)

AFP – Britain’s finance minister expressed scepticism Sunday at proposed US banking reforms, saying they would not have prevented the financial crisis and warning they risk undermining the global consensus. Read more: Britain sceptical on US banking reform (AFP)

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Financial stability board welcomes Obama bank plan

ZURICH (Reuters) – The Financial Stability Board (FSB), charged by the G20 to coordinate national regulation in response to the financial crisis, on Saturday welcomed U.S. proposals to limit banks’ size and trading activities. See the article here: Financial stability board welcomes Obama bank plan

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Goldman Sachs Reports Higher Profits, Bonuses

Goldman Sachs Group Inc. said it earned $4.79 billion in the fourth quarter as the bank’s trading business again outdistanced the rest of the financial industry. The company rewarded its employees with $16.2 billion in salaries and bonuses for 2009, up 47 percent from the previous year but still …

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World Bank: growth may wilt as stimulus fades (AP)

AP – The global economy will suffer the fallout from the financial crisis for years to come, the World Bank said Thursday in a report warning that growth may wilt later this year as stimulus spending fades. Link: World Bank: growth may wilt as stimulus fades …

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Some Dubai World creditors may offload loans: report

DUBAI (Reuters) – Some creditors to Dubai World , which is currently restructuring $22 billion of debt, are seeking to offload loans to reduce their exposure to the conglomerate, the Financial Times reported. Read more here: Some Dubai World creditors may offload loans: report

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