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What Is the Great Computer Myth on Credit Reporting?

Aug 21, 2019 By: Michael A. Cibik

We need to know all the debts you owe or might possibly owe in order to put a Bankruptcy case together. One mistake debtors often make as we get into deeper debt is to stop looking at the bills and notices. It’s stressful enough to have debt collectors calling, so we stop reading or keeping…

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Why File Chapter 7 Business Bankruptcy?

Aug 16, 2019 By: Michael A. Cibik

Corporations and LLC’s don’t get a discharge in a Chapter 7 bankruptcy, so what’s the point of filing? Ensuring that business assets go to pay payroll, benefits, and taxes is a compelling reason.   Chapter 7 is a liquidation proceeding; the trustee appointed by the court will gather up and sell the corporation’s assets and…

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Does it Make a Difference if I File Bankruptcy Before the End of the Month?

Jul 25, 2019 By: Michael A. Cibik

If your income is above the median income for your household size in your state, you must complete a “means test” when you file your bankruptcy petition. To determine whether you are above or below the median income, your gross income for the six-month period prior to the month you file bankruptcy is considered.  …

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What Are The Risks of Co-Signing a Loan?

Jul 17, 2019 By: Mike Cibik

Co-signing a loan is a dangerous thing. Too many people end up in bankruptcy due to debts they just co-signed for, so here are a few points worth considering before co-signing for a friend or family member. 1. There is a reason they need a co-signor. A professional lender does not think they will pay…

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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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