Pinkston and Pinkston, P.A.

Home Foreclosure Tips

Many people do not fully understand the legal process when their home is in danger of foreclosure. Watch this video to learn several house foreclosure tips regarding letters, phone calls, and visitors.

After the foreclosure has started, your name and address will appear on a record that can be viewed by the public as a means to contact you. This record will also disclose information regarding the unpaid balance, how much your property is worth, the judgment amount, auction date, and other relevant information.  Learn who you should and shouldn’t be talking to regarding your foreclosure by watching this clip.

Is your home in danger of foreclosure? For the best foreclosure and debt relief legal services in your area, contact Pinkston & Pinkston, P.A. at (888) 592-0158.

Tips for Talking to Your Children About Impending Bankruptcy

Filing for bankruptcy is difficult enough without having to worry about discussing the situation with your children. However, as members of your family, your children deserve to be part of the process. Get the most out of your discussion with these tips for talking to your kids about impending bankruptcy:

Explain What Bankruptcy Means

The first step in talking to your children about an upcoming bankruptcy is to discuss what bankruptcy actually means. Bankruptcy is not a term that most children are familiar with, so many kids assume that their family is financially destitute and will lose their home. Take the time to discuss the differences between Chapter 13 and Chapter 7 bankruptcy, and explain that it is a way of avoiding foreclosure and gaining a fresh financial start.

Reassure Your Children of Their Security

It’s not uncommon for children to express fear and anxiety when you break the news about an impending bankruptcy. Help alleviate their fears by explaining that despite the upcoming changes, you will continue to provide for them and the bankruptcy will not affect their overall safety or security. 

Discuss What Cutbacks Will Be Made

You’ll need to make a number of financial cutbacks both before and after filing for bankruptcy. These changes can be difficult for children to understand unless you explain the reasoning behind them. Help prepare your children for the road ahead by discussing any financial and spending habits that will need to change during the upcoming months.

The attorneys with Pinkston & Pinkston, P.A. understand that filing for bankruptcy is a major life event. That’s why we believe in educating all of our clients on the steps associated with both Chapter 13 and Chapter 7 bankruptcy. Learn more about the process and get the best legal representation for your needs by visiting our website, or call (888) 592-0158 to set up a consultation with our debt relief law firm.

Common Ways that Families Fall into Bankruptcy

According to the United States Courts system, more than one million bankruptcies were filed during the year of 2010. There are a number of reasons why individuals find themselves filing for bankruptcy—consider this overview on some of the most common of these for more information. 

Loss of Income

One of the main reasons that many families are forced to file for bankruptcy is the sudden loss of an income. Losing a job is a devastating experience, especially when trying to support a family. Many families in which one or both parents become unemployed are unable to pay their bills, falling deep into debt with no way of making their monthly mortgage or car payments. When stacked against the overall cost of living, loss of income often leads to bankruptcy.

Medical Expenses

Another common reason why so many families fall into bankruptcy is unexpected medical bills. This can be either the result of a single bout of life-threatening illness or injury that requires a brief period of inpatient care, or ongoing medical costs due to a chronic illness such as cancer.

Excessive Credit Card Debt

Credit cards can be a great tool when used properly—but excessive credit card use often makes it difficult to keep up with monthly payments. Families who rely on credit cards to pay for everyday expenses often find themselves unable to overcome mounting debt, which frequently leads to bankruptcy in addition to a poor credit rating.

Changes in Family Dynamic

Families who experience a major change, such as a divorce or death, find themselves facing unexpected financial responsibilities. Without the proper planning, changes in a family’s normal dynamic can lead to financial ruin for all members.

If you’re considering filing for bankruptcy, then you’ll need the very best bankruptcy law firm by your side. Let the experienced attorneys at Pinkston & Pinkston, P.A. help you with the filing process by calling (888) 592-0158.

Ever Believe Your Credit Report Is Wrong? Check Out the Article From MSN Money on Easy Fixes To Remove the Error From Your Report.

In today’s economy you can never be too careful with handling your expenses. How often are you checking your credit report? Do you know what your credit score is right now? With the advances in technology identity theft instances have increases in recent years, and this could cause an impact to your credit score. If you do not know what your credit score should be, you will not know if there is an error.

Have you thought about declaring bankruptcy because of your credit score? You might be running into an issue of an error on your report, and need it to be investigated. MSN Money posted an article by Jeffrey Steele of cardratings.com about 6 steps to follow if you believe your credit score is wrong:

“1. Get your free credit report. All consumers are allowed one free credit report every year from each of the three credit-reporting bureaus, Equifax, Experian and TransUnion, says Gail Cunningham, the vice president of public relations for the National Foundation for Credit Counseling in Washington, D.C.” – Jeffrey Steele, “Credit report errors? 6 easy fixes”

For more information and the rest of the steps to follow to check your credit score check out the article in its entirety on MSNMoney.com.

Are you in need of a debt counselor or bankruptcy attorney? Call the professionals at Pinkston & Pinkston, P.A. at (888) 592-0158 to schedule consultation today!

New Generation Filing For Bankruptcy

There has been in shift in the recent years to a new generation filing for bankruptcy. Bankruptcy filings for 18-25 year olds were at an all time high in 2000, and it shows no signs of slowing down. The number of young adults running into financial trouble has increased from the growing amount of credit card debt, and poor financial education. Due to those issues this is the fastest growing age range for claiming bankruptcy. In 2001 more young adults ages 18-25 filed bankruptcy than graduated from college, according to California State Fullerton Financial Literacy.

Credit card debt is a strong contributor to the younger generations going into bankruptcy. Many young students are away from home at college, and for the first time are in charge of their finances. With a limited amount of experience balancing a bank account and understanding how credit and interest works students find themselves in a situation of not being able to pay off their debts quickly. The increase in the younger generation filing for bankruptcy has been topic of several news articles including a piece that ran in The New York Times about why people under the age of 25 are filing for bankruptcy.

Are you 18-25 and wondering if you should be thinking of filing for bankruptcy? You are not alone in this question.  Do you need an experienced attorney to help you with your bankruptcy claim? Call the professionals at Pinkston & Pinkston, P.A. at (888) 592-0158 to schedule consultation today!