Nader & Berneman, Attorneys at Law

Are you thinking of starting a business from scratch post-bankruptcy? Are you searching for tips and advice on how to start your business again? Do you need more information on what you should know before restarting? Well, if you are seeking answers to any of these questions, then this is the right article for you. We are here to uncover some of the best advice for you. But, at first, it is important to know what circumstances lead businesses to bankruptcy. Why do businesses file for bankruptcy? The main reason why businesses file for bankruptcy is the inability to generate profits. Failure to generate revenue and return the lent-money forces business owners to file for bankruptcy to exit the market or reorganize the business. Now you understand that the lack of profitability is often the main reason for most bankruptcies. We will talk about the underlying factors in detail in the next blog, which may impact a company's ability to generate profit and hence lead to bank...

Bankruptcy may be a modern-day term, but the Holy Bible also has some verses that match with today’s bankruptcy code. It is interesting to know how bankruptcy and the Bible have many elements that coincide strikingly. Be it the idea of eliminating debts, permitting the borrower a new beginning and allowing the debtor to keep or forego certain assets, many modern life situations can be seen in the Bible. Just like the concept of helping someone manage or restructure his/her debts; retain few assets while letting go of the material aspects to regain freedom and peace of mind. Let's have a detailed look at some of the facets of bankruptcy that are mentioned in the Bible to find out the evident correlation between the two. So here are some of the crucial points that must be kept in mind: New Beginning It is said that the common purpose of bankruptcy is to give the loyal and honest debtor a fresh beginning. And they deserve it owing to their circumstances which might ha...

It is commonly said that after filing bankruptcy, one can never repair their credit score. Yes, bankruptcy does seriously damage your credit score, but you can repair it with patience and proper guidance. You need to understand that the damage of bankruptcy is not irreparable. Indeed, converse with a bank official or a bankruptcy attorney , and you will get to know that repairing your credit score is very feasible. These are some specific ways to repair your credit score post-bankruptcy: MAINTAIN A PROPER CREDIT REPORT: People often fear that if their bankruptcy is reflected in their account then creditors would not allow them to transact or collaborate. What they don’t understand that every creditor eventually knows about the borrower’s credit report whether reflected or not. One should rather keep checking their credit report every month though it costs a few pennies. They should inform the creditors about their discharged bankruptcy so that they are not reported further. ...

Excess debts can make your life miserable and may take away all the happiness from your life. These debts lead many people to take wrong decisions, and even a few of them end up in ending their lives. But people need to know that they can save their skin by filing for bankruptcy. But again filing for bankruptcy is not that easy and requires some expert who can guide you at all steps for filing your case. Hiring a bankruptcy attorney is your best bet that you can place to overcome over all your doubts and issues. So here are a few mistakes that you can avoid by hiring a bankruptcy lawyer:   Waiting for long: You should know when to act; sometimes it may take you a lifetime to get over your debts owing to the debt condition. Thus one should be aware of when to file for bankruptcy rather than waiting for too long. Filing for bankruptcy can give you a new start and allow you to move further in life. Thus it is always better to seek advice from a  Bankruptcy attorney in Los An...

Over the recent years, there have been many evidences of people filing bankruptcy seeking assistance from a Chapter 7 bankruptcy lawyer Los Angeles .   The graph has shown a drastic increase over the years and is continuing to increase day by day. This makes people search for reasons as to why people are falling prey to bankruptcy. If you want to know the real reasons behind it, read further to get to know about a few of them: Medical Emergencies Nobody wishes of falling ill and incurring acute illness can actually drain a considerable sum of money for paying off the hospital bills. According to research, it was found out that above 60% of people fall prey to bankruptcy for meeting the medical expenses. Severe injuries and disease can actually cause one to invest their savings in medical bills. Medical bills can be like a huge mountain to climb and may quickly sum up big for a person to seek assistance from a Bankruptcy lawyer Woodland Hills to file bankruptcy. ...

Making a comeback from a foreclosure or bankruptcy is easier said than done. It takes time. Plus, it also leaves a negative impact on your credit report for at least seven to ten years. A lot will depend on the type of bankruptcy case you have filed. Filing a case of bankruptcy can help you obtain relief from the burden of debt but it also prevents you from getting loans for various purposes such as buying a house. Can you secure a loan for a mortgage after getting rid of debt? The answer is “yes”. Filing bankruptcy or foreclosure restricts you from obtaining loans for a certain period, not for the entire lifetime. You may not qualify to apply for a loan immediately as to most debtors, granting a loan to you under such circumstances would be akin to taking a risk. However, you can get a loan for buying a house within a couple of years from the day of your discharge from bankruptcy. But for this to happen, you need to adopt the right approach to make it happen. Reaching out to a q...

Bankruptcy can help stop an eviction; this is a common perception that people have in mind. But there are certain factors that govern the eviction process. Does filing bankruptcy really stop an eviction? If you also have the same question hitting your mind, then read further to gain an in-depth insight about eviction and bankruptcy: If you have just received an eviction notice from your landlord, then filing for bankruptcy may surely help you to some extent. According to Los Angeles chapter 13 bankruptcy attorneys , it can put the eviction on hold for some time and give you some extra time to make arrangements. But the time extension depends on multiple factors mentioned below: •    The time extension relies on the filing of the eviction and if it is in process or not •    It also depends on the bankruptcy filed by the tenant •    Laws of the state also governs the eviction process •    If any damage is caused to the property...