Waiting to File Bankruptcy Can Hurt You

According to a recent article on nerdwallet.com, waiting to file bankruptcy extracts a large price. You're in the financial "sweatbox". (more…)

Filing Bankruptcy and Have Credit Union Children's Accounts? Look Out!

What happens to your credit union children's accounts if you file bankruptcy and also owe money to that credit union? It isn't pretty!

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Avoid these banks if filing bankruptcy!

Why avoid certain banks if filing bankruptcy? Because if you don't, you could lose a lot of money! Here's why and how…

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Does my discharged-in-bankruptcy debt stay gone forever?

Many clients ask me if the debt that's discharged (eliminated) in bankruptcy will stay gone forever.

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Expensive loans in California can force you into bankruptcy!

If you think "payday" loans are bad, consider a loan of $5,000 that requires you to pay back $42,000. Yes, that can happen in California.

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Payday lender sentenced to 16 years in prison

The owner of a payday lending operation was sentenced to more than 16 years in prison, and the general counsel (attorney) for the business was sentenced to 7 years.

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Family farmers get a break (Chapter 12 bankruptcy)

Family farmers who need Chapter 12 bankruptcy thought they were getting a break in 2005 with the new bankruptcy laws. But the U.S. Supreme Court interpreted a poorly-written part of that law to take away that break.

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Am I liable for my spouse's debts in California?

I'm often asked if someone is liable for their husband's (or wife's) debts. The short answer is "No". Let's explore the rest of the answer.

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Too much money to file bankruptcy? Here's how to fix that.

Are you in the fortunate situation of having too much money to file bankruptcy? Let's see how you can fix that.

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If I file bankruptcy, will I lose the things I own?

The short answers are "probably not" and "it depends". Let's expand on those short answers.

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Should I take a loan from my 401(k) to pay my credit cards?

"NO", and let me count the reasons!

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Bankruptcy May Be Your First and Best Option

The credit industry would have you believe that filing bankruptcy is so bad that you should do it only as a last resort, making bankruptcy your last option. The credit industry spends a lot of money to get you to believe that. But for many people, nothing could be further from the truth. Why do I say that?

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Can I keep my house and car if I file bankruptcy?

I'm often asked if people can keep their house and car if they file bankruptcy. The short answer is usually "Yes", if they keep making the payments.

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How Often Can I File Bankruptcy?

I'm often asked if someone can file bankruptcy if they've done that before, or how often they can file bankruptcy. You can actually file bankruptcy at any time, but you won't get rid of ("discharge") your debts unless you meet the timing rules for multiple bankruptcy filings. So let's take a look at those.

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Will bankruptcy stop a foreclosure?

"My house is about to be foreclosed. Will bankruptcy stop that?" I'm often asked that question. The answer is probably "yes", but let's look at a "no" answer first.

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Bankruptcy Might Save Your Life

A study found that the bankruptcy code is an incredibly effective social insurance policy.

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Can I get rid of payday loans by filing bankruptcy?

I'm often asked if someone can get rid of payday loans by filing bankruptcy. Let's take a look at this.

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What are Bankruptcy Exemptions and why are they important?

During my first consultation with people who are interested in filing bankruptcy, I always explain this very important subject of "exemptions". Let's see what exemptions are and why they're important.

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File bankruptcy without a lawyer? Only at your peril!

Some people file bankruptcy without an experienced bankruptcy lawyer. What are they risking?

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Why NOT to reaffirm a mortgage in bankruptcy!

More than one past client has called me to complain that their mortgage holder wasn't reporting their house mortgage payments to credit reporting agencies, and would not unless they reaffirmed their mortgage loan. What's that about?

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