What Is The Great Computer Myth on Credit Reporting?
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 […]
Can You Use Bankruptcy To Get College Transcripts?
Bankruptcy can help in a lot of ways. One less well-known benefit is to free up a copy of a college transcript to use for employment or future school applications, when you can’t afford to pay the college back right now. As of 2015, Americans owe more in student loan debt than credit cards. And […]
Chapter 13 Bankruptcy: Can I Pay One Debt Better Than Others?
Everyone with debts has at least one bill they’d like to pay, even if they can’t pay them all. So if you are already filing Chapter 13 bankruptcy and repaying some debt, why not treat some better than others? Sometimes that is allowed and sometimes not. It’s a complicated issue because, at the heart of […]
Why File a Chapter 7 Business Bankruptcy?
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 pay […]
Should I pay my homeowner association dues if I surrender my home in bankruptcy?
Even if you surrender your home in bankruptcy, you are still liable for your homeowner’s or condominium owner’s association dues that become due after the date of filing. As a general rule, all the debt that you owe on the day you file your bankruptcy is discharged, including past-due HOA and COA dues. However, because […]
More Ways Bankruptcy Can Affect Your Children
STUDENT LOANS: Several factors should be considered regarding student loans. First, student loans, including parent PLUS loans, are generally not dischargeable in bankruptcy without a showing of undue hardship. The burden to prove undue hardship is very great. Second, if you are in financial difficulty, you may not have a high enough credit score to […]
How Are Some Ways Bankruptcy Can Affect Your Children?
STRESS: Being deep in debt, receiving harassing calls from creditors, being threatened with garnishment, repossessions and foreclosure will often cause you and your spouse to experience overwhelming stress and anxiety. Your children, even young ones, also feel the stress. It affects their school work and their emotional and physical health Uncontrolled debt often leads to […]
Can Bankruptcy Be A New Day?
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 have to 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 […]
Will Bankruptcy Kill A Zombie Deed?
A Zombie Deed is a piece of real estate that you thought was gone, foreclosed, lost forever and no longer yours, but to your dismay, you find that you still own the property long after you thought it was gone. For example, you know you have missed mortgage payments and you know that your mortgage […]
What Are Two Things I Should Not Do Before Filing For Bankruptcy?
I see people make many mistakes when filing for bankruptcy. It could be in their paperwork or it could be failing to plan appropriately. Here are the top two things that people do wrong when filing for bankruptcy protection. Using Your IRA, 401K or other Qualified Retirement Plan. Bankruptcy exemptions protect your IRA, Inherited IRA, […]