Posts by On Behalf of Giddens & Gatton Law, P.C.
Legal counsel can help determine how to handle medical debt
It is common knowledge that many people are shouldering staggeringly heavy medical debt, especially as premiums and deductibles get higher and higher. We have posted blogs about medical debt and bankruptcy in the past, but unfortunately individuals and families continue to face financial strain because of high health care bills. No matter how careful a…
Read MoreChapter 7 bankruptcy does not mean loss of all of your property
In a Chapter 7 or liquidation bankruptcy, the debtor who files for relief in U.S. Bankruptcy Court is allowed to keep so-called exempt property. Some people misunderstand that if they file for bankruptcy they will lose everything. Bankruptcy law allows people to keep certain kinds of property considered basic and necessary to living. This makes…
Read MoreNew Mexico bankruptcy filings: Nuts and Bolts
Many people do not know much about how to file for bankruptcy relief. Bankruptcy matters are governed by federal bankruptcy law and are heard in federal bankruptcy court. The U.S. Bankruptcy Court of the District of New Mexico is located in Albuquerque, where most hearings are held. Some matters are also heard by judges in…
Read MoreBankruptcy a possibility for struggling Albuquerque restaurants
The Albuquerque Journal recently covered the bankruptcy filing of Zio’s Italian Kitchen. Zio’s announced that its Albuquerque restaurant will be closing in conjunction with its recent Chapter 11 bankruptcy filing, which occurred less than a month ago. According to the Journal, Texas-based Zio’s cited these reasons for its financial challenges: · Weakness in the casual…
Read MoreBankruptcy may not be as bad for your credit as you think
Some New Mexicans may shy away from bankruptcy because they believe it will be devastating for their credit. While a Chapter 7 consumer bankruptcy remains on your credit report for 10 years, many lenders are still willing to extend credit to a recently bankrupt borrower. Because you cannot receive another Chapter 7 discharge again for…
Read MoreBankruptcy considerations when you own a home
The past decade hasn’t been kind to many people, and the combination of job losses and a tightening economy have caused many to take on more debt. One of the biggest misconceptions about filing bankruptcy is that debtors will lose everything that they own. If you own a home, this is often a primary concern.…
Read MoreNew Mexicans may find relief from heavy student loan debt
Borrowing student loans in order to attend classes can often increase a student’s earning potential. Unfortunately, if the expected income does not materialize, student loan payments can become a burden. It can also happen that after leaving college, a New Mexican’s student-loan payments turn out to be higher than expected. Student-loan payments may also become…
Read MoreCan I file for bankruptcy without an attorney? Should I?
The United States Courts website answers the blog headline question above by stating that, yes, individuals can file for bankruptcy without enlisting help from proven legal counsel (called a pro se filing). And in the very next sentence, this official site of the U.S. government flatly advises against doing so, for a number of compelling…
Read MoreHow to choose a creditor’s rights attorney
Collecting unpaid debt is a complicated process with many rules and requirements to follow. A lawyer can make sure all of your options are explored and protect your rights. The attorney you hire matters when you are a creditor. How do you make sure you hire the right attorney? Your attorney should be an advocate…
Read MoreCreditors: know your options to collect unpaid debt
You have rights as a creditor. When individuals or businesses fail to pay back debt owed to you, what are your options? Your options primarily depend on whether the debt is secured by collateral or is an unsecured debt. You can first try to collect unpaid debts without court intervention. This typically involves making a…
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