According to a recent article on nerdwallet.com, waiting to file bankruptcy extracts a large price. You're in the financial "sweatbox". (more…)
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!
Why avoid certain banks if filing bankruptcy? Because if you
don't, you could lose a lot of money! Here's why and how…
Many clients ask me if the debt that's discharged (eliminated) in bankruptcy
will stay gone forever.
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.
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
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.
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.
Are you in the fortunate situation of having too much money to file bankruptcy?
Let's see how you can fix that.
The short answers are "probably not" and "it depends". Let's
expand on those short answers.
"NO", and let me count the reasons!
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?
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.
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.
"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.
A study found that the bankruptcy code is an incredibly effective social insurance
I'm often asked if someone can get rid of payday loans by filing bankruptcy.
Let's take a look at this.
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.
Some people file bankruptcy without an experienced bankruptcy lawyer. What are
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?