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Bankruptcy Blog

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Can Bankruptcy Be A New Day?

Jul 11, 2019 By: Michael A. Cibik

I’ll admit that most of my clients never wanted to come see me.  Most of my clients are embarrassed by the fact that they even must ask about filing bankruptcy.  Struggling with debt is hard and it can literally suck the life right out of you.  For most, it seems like the end of the…

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Should I Be Worried About Going to My Meeting of Creditors?

Jul 01, 2019 By: Michael A. Cibik

After you file a bankruptcy case, you are required to attend a Meeting of Creditors. This is scheduled for about a month after your petition is filed and is usually the only appearance you will need to make during the bankruptcy process. Should you be nervous about it? Probably not, especially if your bankruptcy lawyer…

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Will Bankruptcy Stop the Creditor Calls?

Jun 20, 2019 By: Michael A. Cibik

Yes, the minute you file bankruptcy, the Bankruptcy Court issues an order telling all of your creditors to leave you alone. No more phone calls. No more collection letters. No more lawsuits. No garnishments. No repossessions. No foreclosures. Nothing. No actions whatsoever against you or your assets. This order has a name. It is called…

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Can A Bankruptcy Continue After Death of a Debtor?

Jun 14, 2019 By: Michael A. Cibik

One of Benjamin Franklin’s most famous quotes is, “Certainty? In this world nothing is certain but death and taxes.” With the certainty that is death, it is not surprising that occasionally, after a bankruptcy is filed, a Debtor will die. However, the death of a Debtor does not automatically mean the death of his or…

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Can Bonuses Paid to a Debtor After Chapter 7 Filing be Taken by the Bankruptcy Trustee?

May 30, 2019 By: Michael A. Cibik

The Bankruptcy Appellate Panel for the U.S. Court of Appeals, Eighth Circuit, ruled that employment bonuses paid to a debtor shortly after she filed for chapter 7 bankruptcy could not be considered part of her bankruptcy case.  The court’s ruling allowed the debtor to keep $24,072.00 in bonuses, and it reversed a lower court’s order…

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What is the Second Costly Emotion That Keeps You In Debt and from Filing Bankruptcy?

May 24, 2019 By: Michael A. Cibik

Stubbornness It’s hard to knock stubbornness, even when it keeps people doing foolish things. After all, stubbornness, the drive to finish what you started, is often a virtue. I’m talking about the attitude that says “these are my debts, and by d***n, I’ll get them paid”. Honorable, but not rational. See how long it takes…

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