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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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What is the Second Costly Emotion That Keeps You In Debt?

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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Chapter 13 Bankruptcy Time Bomb: Mortgage Modification?

May 12, 2019 By: Michael A. Cibik

One of the major benefits of Chapter 13 Bankruptcy is the ability to avoid second mortgages that are not secured by any value in your home.  By following standards outlined in the Bankruptcy Code, you can reclassify that loan on your home into the same category as credit cards or other ordinary bills and discharge…

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Should I Reaffirm My Mortgage After Filing For Bankruptcy?

May 11, 2019 By: Michael A. Cibik

Let’s start with what a reaffirmation agreement is and what it is not. Basically, the filing of a bankruptcy kills most contracts; including car purchases and home purchases.  Once the contract is dead, the secured creditor may retrieve its collateral but cannot go after the debtor for any deficiency if the collateral was sold for…

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How Can Your Fiancee Lose the Engagement Ring in Your Bankruptcy Case?

May 05, 2019 By: Michael A. Cibik

Even men with debt problems fall in love, and when they do, many of them will come up with a way to give their beloved a nice engagement ring.  Often, heaven and earth will be moved in the search for the proper ring, and the result could be a very expensive engagement ring.  If the…

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