Amending Child Custody - A Two Part Test!

     In Virginia a child custody order is never really final - meaning that you can always file to have it reconsidered.  However, the basis by which the court will allow the reconsideration is the occurrence of a material change of circumstances.  It is important to understand that the reconsideration of a previous child custody order is a two part process.

     The first part is the occurrence of a material change of circumstances.  The party filing for the change of custody will be required to prove to the court that there has been a material change.  The court will take into consideration both positive and negative circumstances of the parties involved and determine if there has been a material change of circumstances.  What circumstances (?) should be your next question!

     Based on the historical records of the courts, whether or not a material change has occurred may involve a multitude of factors.  For example, the preference of the child, a change in the requirements of employment, divorce, remarriage, physical and mental health, etc.  The list of what may be considered with respect to a material change is very broad and may include even the moral environment in which the child is being raised.

     If the court finds that there has been a change, then, and only then, will the court consider the second part - that is whether or not it is in the child's best interest to change the prior order.  What often confuses folks is that even though the court may find that a material change has occurred does not mean that custody will be changed.  It simply means that the court will consider changing the prior custody order.  The final decision of the court to change a prior custody order is based solely on the best interests of the child.

     The Virginia Code, as amended, section 20-124.3 details the statutory criteria to be considered in determining the Best Interests of The Child with respect to custody or visitation.

Creditors; Who are they?

Taking charge of your Bankruptcy starts with identifying your creditors.  Not all debts are discharged in a Chapter 7 Bankruptcy, but for an allowed debt to be discharged it must be listed!  A great place to start is running your credit report.  Did you know that you are entitled to a free credit report every year - click the link below to learn more:

FREE CREDIT REPORT

I say that your credit report is a starting point - not every creditor is going to report to the credit bureaus so do not get caught in the trap of thinking that your report, no matter how current, is complete.

Those creditors that have a zero balance do not need to be listed, but otherwise you must list them all.  Below is just a sampling of the various types of creditors that you may have:

• Credit cards,
• Medical bills,
• Student loans,
• Car loans,
• Unpaid taxes,
• Unpaid tickets (traffic, parking, etc.),
• Overdue storage fees,
• Obligations under leases or contracts,
• Personal loans,
• Promissory loans,
• Lawsuit judgments,
• Debts arising from traffic accidents,
• Domestic support obligations (child and/or spousal support),
• Fines, penalties and restitution,
• Property taxes,
• Intoxicated driving debts,
• Condo, cooperative and Homeowners' Association fees, and
• Loans from a retirement plan.

Once you have identified all of your creditors make sure that you have a current address, account number and amount owed.  Frequently, the original creditor may transfer your account to a collection agency for follow-up.  If this is the case, then go ahead and collect the information on both entities keeping in mind that the account numbers, addresses and amounts may change.

I mentioned previously that not all of your debts are discharged in a Chapter 7 Bankruptcy.  For example, student loans and tax debts are not discharged unless you can prove that you are an exception to the rule.  Also, Domestic Support Obligations like child support and alimony are not dischargeable.  Additionally, debts owed to a spouse or child that were obtained through a divorce or separation are nondischargeable.  Also, fines that were imposed by a federal, state or local government are not discharged.  The list goes on - don't get discouraged, most folks considering Bankruptcy are dealing with overwhelming consumer debt such as credit cards and medical bills.

Interesting Facts

In 2010, in Virginia, approximately 23,949 Chapter 7 Bankruptcy Petitions were filed.

Approximately 85% of consumer filings were for Chapter 7.

The median average monthly income reported by all (nationwide) debtors was $2,872.

Chapter 7 cases were historically handled within approximately 150 days in Eastern VA.

 
The graphic to the left was obtained from the U.S. Trustee website and represents the number of Chapter 7 Petitions filed in Virginia for the period 1999 through 2009.  Note the significant drop in 2006 - the year following the revision to the Bankruptcy Code.

If Bankruptcy may be in your future, please give us a call today and make an appointment.  We'll take the time to listen to your situation and walk through the various options that may be available to you!  You will not know unless you call! 

 

(757) 410-9263

 

Let's Get Started!

One of the things that I find rather frustrating about blogs is that quite often they just ramble on - while I appreciate that everyone has something to share, I often find myself pressed for time and am looking for specific answers or guidance.  Therefore, with the assistance of a great SEO company, Internet Highway, as this blog comes to life I want to give it some direction.

Speaking specifically to Bankruptcy and Family Law, when folks have to seek out an attorney it is most likely because they are in need of help, not because they have an overwhelming desire to bond with someone they pay by the hour!  (no jokes please)  Most folks, prior to actually making an appointment to speak with someone, likely do some Internet searching first.  Given that premise I undertake this blog for two reasons.

First, I want to introduce myself and allow folks to get a better understanding of who I am and, more importantly (at least it would be for me), is to better understand the kind of lawyer and person that I am!  Let me try and explain; my wife's favorite joke is "What is the difference between a lawyer and a catfish?"  (sorry, you aren't going to get the punch line out of me!) and, because we all know at least one lawyer joke, my intent is to differentiate myself from the reputation my profession has earned!

Secondly, and personally of greater significance, is to provide some help!  A blog in and of itself is not going to reach out and make your problems go away, but hopefully, it will at least convey to you, a friend or a family member, that there is someone out there that cares and can help!  When life reaches out and grabs us with overwhelming family problems, or the creditors calls are getting intrusive, is when we sit down at the computer and try to figure out what to do.  I want this blog to be the lifeline that you, or someone that you know, can hang onto.

Understanding that this is how I make my living - this is what puts food on the table - Yes, I would like your business.  However, I want you to understand that as an individual (with my many flaws, quirks and less that always perfect reactions) I practice my profession with the foremost thought to help!  In short, if I do not think that I can help you, or that you even need the services of an attorney, then I will tell you.  If I know, I'll likely point you in the right direction, either to another professional, or maybe to a site and show you how to do it yourself!

So, in the coming weeks and months I am going (OK, what I really mean is that I'm really going to try hard and do this) to post several times a week.  Since I call myself a Family Law and Bankruptcy attorney that will be the focus of my topics.  I don't intend to make this a totally self-help blog - meaning that I'm not going to teach in such detail that you don't need me!  (Remember, I did say that this is what puts food on my table).  What I will write about are things that get you thinking about what you can do or which direction you should head.  For example, "Is Bankruptcy right for me?", "What does it mean if I adopt my step-child?", "What does Chapter 13 mean?", "Can I stop this foreclosure?", or "Do I really need a will?".  If you need to talk to someone about what to do, then I hope that you will consider me your resource!

So, I hope you stumble across this site and take the time to read a posting or two.  If you find them provocative or helpful then take a sec and post a comment.  Maybe share them with a friend that might need a chance at a lifeline.  Seriously, help me help someone else!

Have a Tebow kinda day!
(stand up for what you believe in)

How is My Credit Score Calculated? KDB Law Firm Credit and Bankruptcy Part One

Your credit score is an important number that determines your rate of interest on loans and credit cards. Do you ever wonder how your credit score is calculated? If you are like most people, your credit score is important to you, but it may also be a bit of a mystery.

Many of my clients have asked how their credit score is calculated. Let’s start with a little credit score 101.  The most common score used is the FICO score. The score, the 3-digit number, is calculated using several different inputs. The largest portion of the score is based on your payment history (35%); followed by your overall debt level, or amount you owe (30%); the actual length of your credit history (15%); the number of inquiries, also known as new credit, (10%); and closed out by your mix of credit (10%).  A detailed explanation of a FICO score breakdown can be found here: http://www.myfico.com/crediteducation/whatsinyourscore.aspx.

Based on this information alone, the most important thing you can do to improve your credit score is to pay your bills in advance! What is the reasoning here? Well, 35% of your FICO score is based on your payment history. Paying in advance ensures that your bills will be paid on time, because most companies do not post payments received on the day they receive them. Paying off your bills in advance of the due date ensures that your payment is posted in time and keeps your credit score healthy in the “Payment History” category of your FICO score.  Just keep this in mind- 35% of your score is simply paying on time! So post your payment in advance of the due date and you will help your credit score.

What happens when your financial situation becomes overwhelming to the point of NOT being able to pay your bills on time? To find out, read Part Two of our Credit and Bankruptcy Blog series. And be sure to check out our website http://www.KDBLawFirm.net for more information.

Be safe and take care! ~Kirk Berkhimer, Norfolk Bankruptcy Attorney.

Hey, Follow me on Twitter @Norfolk_Lawyer for timely updates and info!