bankruptcy
02
Jan
How to Move Forward After Bankruptcy
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Going through a bankruptcy —– from decision to discharge— can be a long and stressful ordeal. Eventually, though, you get the breathing room you so desperately need. And after Chapter 7 or Chapter 13 comes the next chapter: putting your life and your credit back together. How can you do that? A bankruptcy stays […]
29
Dec
Bankruptcy and Student Loans
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Ahh, the American dream. You start with nothing, get an education, work your assets off, and end up rich and successful. But is that really how it goes? Everyone knows that it is absolutely critical that you get a good education in order to get ahead. The average price of a college education can […]
27
Dec
Bankruptcy and Medical Bills
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As the old saying goes, “nothing is more important than your health.” When you are injured or sick, you know how true that is. When you or a loved one is facing a serious or catastrophic illness, the cost of medical care can very quickly skyrocket. Before you know it, the costs of medical care […]
25
Dec
Many people believe that they will lose everything they own if they file for bankruptcy. Not true. In fact, most people who file for bankruptcy do not lose anything they own at all. How can that be? Well, the secret lies in… Exemptions. Most consumers file for Chapter 7 (or “liquidation”) bankruptcy. In a Chapter […]
22
Dec
Bankruptcy in the Context of Divorce
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Statistics show that 55% of all marriages end in divorce. And 39% of all divorced couples say that conflict over finances was the reason the marriage fell apart. Fights over money ruin relationships. That’s why we so often see divorce occurring when there is a bankruptcy. It’s because of this that it is critical to […]
20
Dec
Core Proceedings and the Bankruptcy Court
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Let’s say you’re having a really, really, bad week. You were injured in a car accident, the extension the contractor put on your house fell apart and now you’re suing him for breach of contract, your wife just found out about your (latest) girlfriend and has filed for divorce, and you can’t pay your creditors, […]
18
Dec
What the Automatic Stay Can and Cannot Do
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One of the immediate benefits of filing bankruptcy is the relief that the Bankruptcy Code’s “automatic stay” gives to a debtor. The automatic stay brings all collection efforts against the debtor to a screeching halt. It prevents creditors from collecting on their debts until discharge, the case is closed, or the stay is lifted. The […]
18
Dec
The decision to file bankruptcy is not an easy one to make. Many people experience enormous distress, shame and embarrassment over their financial difficulties. Without question, declaring Chapter 7 or Chapter 13 bankruptcy is no minor decision. But it just may be the right one for you. Especially if you cannot see any way of […]
15
Dec
What is Bankruptcy Exemption Planning?
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The main purposes of the bankruptcy laws are to: Give an honest debtor a “fresh start” by relieving the debtor of most debts, and Repay creditors in an orderly manner to the extent that the debtor has property available to do so. One of the primary ways that the bankruptcy law attains its goal of […]
13
Dec
The worst has happened. You’ve fallen behind on your house payments, and the bank has started foreclosure proceedings. First you got the Notice of Default. Now you’ve been served with the Notice of Sale, telling you that the bank has set a date for the sale of your home. What can you do? Should you […]