Without a doubt, one of the most frequent questions I get is about credit scores. The question is always some version of: Will a bankruptcy ruin my credit score forever?
Americans have an unhealthy obsession with bad credit, as though a credit score were an indicator of self worth. This obsession is unnecessary. [...]
Read the full article »
Tags: bad credit, Bankruptcy, bankruptcy risk score, credit, credit counseling, credit history, credit report, Credit score, credit standing, finance, personal finance, rebuild credit, score
Can you keep your property through a Chapter 7 bankruptcy? The short answer to this question is: Maybe. It depends on your situation.
This is what something called “exemptions” are for. The way I explain it to clients is this: When you file for bankruptcy, something called the “bankruptcy estate” is [...]
Read the full article »
Tags: Bankruptcy, bankruptcy attorneys, bankruptcy estate, bankruptcy exemption, bankruptcy in the united states, business, Chapter 7, estate, estates, Exemptions, inheritance, insolvency law, Keeping property, law, property, Real estate, real property law, title 11, Trustee, united states code
Image by ladybeames via Flickr
One way to get your creditors to stop harassing you is by filing for bankruptcy. But how does filing for bankruptcy stop creditor calls and letters? Through something called the “automatic stay”.
The automatic stay in bankruptcy can be a powerful benefit for debtors who feel that they are being [...]
Read the full article »
Image by mollyjolly via Flickr
Which debts should you put in the bankruptcy and which ones should you leave out?
Answer: You are required to list all of your debts in your bankruptcy papers! It is a common notion that you are allowed to keep some debts out of your bankruptcy by not listing them [...]
Read the full article »
Image by BulaPhotography via Flickr
What is an abusive bankruptcy filing? When does a bankruptcy court consider a debtor’s Chapter 7 filing to be an abuse of the bankruptcy process?
A bankruptcy court will look at whether the person filing the bankruptcy acted in bad faith and at the entire circumstances surrounding the debtor’s financial situation.
A [...]
Read the full article »
Image via Wikipedia
How do I work with clients on consumer bankruptcy cases? I like to take a personalized approach. It depends on the client. Some people like to meet more often with their bankruptcy attorneys than others. I do my best to accommodate this.
But others just don’t have the time for [...]
Read the full article »
Image via Wikipedia
The whole issue of whether you should repay someone to whom you owe money before you actually file for Chapter 7 bankruptcy is more complex than it looks at first glance. I introduced the issue in a previous post about repaying debts before bankruptcy, but there is a lot of detail here [...]
Read the full article »
Don’t believe the negative myths about bankruptcy. Here’s why.
Read the full article »