2013,05


      MCCORMICK & CALDERONE RECEIVES A+ RATING FROM BBB & OTHER FIRM NEWS

      Posted on 05,29,2013

      At McCormick & Calderone, we take pride in client satisfaction. As a client-centered law firm, we measure our success by our numbers of happy clients, and there truly is not other measurement for a bankruptcy law firm. We are excited to announce that the David McCormick Law Group was recently recognized by the Better Business Bureau for our outstanding professionalism and integrity which has been demonstrated over the past 17 years while helping the residents of Hampton Roads with their legal problems.

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      THE BENEFITS OF AN AUTOMATIC STAY

      Posted on 05,22,2013

      The moment an individual files for bankruptcy protection, regardless of whether they are filing for Chapter 7 or Chapter 13, the bankruptcy court will issue an automatic stay. An automatic stay is a temporary injunction which serves to prevent creditors, lenders, or any other third party collection agencies, from continuing their efforts to collect on your debts. When an automatic stay is issued, all creditor phone calls, written notices, lawsuits, repossession efforts, and foreclosure proceedings, must cease at once. The purpose for issuing an automatic stay is to protect you, as the debtor, and allow you a little breathing room to be able to figure out a repayment plan and/or begin taking steps towards rebuilding your financial future.

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      TELLTALE SIGNS YOU COULD BE HEADING TOWARDS BANKRUPTCY

      Posted on 05,15,2013

      There are many reasons why an individual may find themselves in need of bankruptcy protection. A divorce, unanticipated medical expenses, the loss of a job or significant source of income, and the overextension of your credit, could all lead to extreme emotional and financial hardship. The key is to be aware of your financial situation and be able to recognize some of the telltale signs you could be heading towards bankruptcy.

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      WHAT WILL BANKRUPTCY DO TO MY BANK ACCOUNT?

      Posted on 05,02,2013

      Once you file and receive a Bankruptcy Order, the process begins and all of your assets fall under the jurisdiction of the Official Receiver. They will order you to stop using all of your bank cards and check books, unless you use one of them for all of your living expenses. For a period of time your bank account could be frozen, which means that you will need to open up another bank account for your income and expenses. No matter whether you apply for a bank account before or after your Order is issued, all your accounts will still be frozen. Once the bankruptcy process begins, you should be able to use your alternate account.

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