Brian J Sunderland Lawyer Oregon

Brian J
Sunderland Lawyer Oregon

WILL I EVER GET CREDIT AGAIN?

Yes! A number of banks now offer "secured" credit cards where a debtor
puts up a certain amount of money (as little as $200) in an account at the bank
to guarantee payment. Usually the credit limit is equal to the security given
and is increased as the debtor proves his or her ability to pay the debt. Two
years after a bankruptcy discharge, debtors are eligible for mortgage loans on
terms as good as those of others, with the same financial profile, who have not
filed bankruptcy. The size of your down payment and the stability of your income
will be much more important than the fact you filed bankruptcy in the past.The
fact you filed bankruptcy stays on your credit report for 10 years. It becomes
less significant the further in the past the bankruptcy is. The truth is, that
you are probably a better credit risk after bankruptcy than before.

Brian J Sunderland Lawyer Oregon

Japanese fashion design
firm Yohji Yamamoto Inc. has recently filed for bankruptcy protection, another
setback for high-end brands in Japan.

According to an article in The
Wall St. Journal, the bankruptcy is yet another blow to Tokyo couture as Gianni
Versace SpA has closed its stores in Japan because the stores "no longer
represented the brand image." The store closures come amid Japan's declining
economy and a reassessment by some high-end brands of their presence in that
market.

Yohji Yamamoto Inc. has listed debts totaling six billion yen,
($67.8 million) according to a spokeswoman in Tokyo. The firm, which cited the
tenuous international economy for the move, said it will continue to operate
while under bankruptcy protection.

Integral Corporation, a Tokyo
investment firm, acquired the business out of bankruptcy. They said the
restructured firm will seek to strengthen Yohji Yamamoto's retail and wholesale
distribution channels. Yohji Yamamoto, the fashion house's founder and namesake
designer, will continue to design for the business.

Yohji Yamamoto
formed the fashion house in 1984, after his designs, described as unusually cut
and often in black, made a splash at shows in Paris and New York. Recently, the
company tried to broaden its appeal through collaborations with other brands
including Adidas. He became part of a group of designers from Japan, including
Rei Kawakubo and Issey Miyake, who gained influence in the 1980s.

Brian J
Sunderland Lawyer As a rule, pre-bankruptcy credit counseling and
pre-discharge debtor education may not be provided at the same time. Credit
counseling must take place before you file for bankruptcy; debtor education must
take place after you file.

A pre-bankruptcy counseling session with an
approved credit counseling organization should include an evaluation of your
personal financial situation, alternatives to bankruptcy, and a personal budget
plan. A typical counseling session should last about 60 to 90 minutes, and can
take place in person, on the phone, or online. The counseling organization is
required to provide the counseling free of charge for those consumers who cannot
afford to pay. If you cannot afford to pay a fee for credit counseling, you
should request a fee waiver from the counseling organization before the session
begins. Otherwise, you may be charged a fee for counseling which will generally
be about $50, depending on where you live, the types of services you receive,
and other factors.

Once you have completed the required counseling, you
must get a certificate as proof. Check the U.S. Trustee’s website to be sure
that you receive the certificate from a counseling organization that is approved
in the judicial district where you are filing bankruptcy.