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?
(more…)What's the kind of bankruptcy where you don't have to pay for your house and your car?
Someone asked that recently, saying that's the kind they wanted. Sorry, but there isn't a bankruptcy like that. If you don't make the payments on your house or car, bankruptcy or not, you'll lose that house or car.
(more…)Bankruptcy May Improve Your Credit Score!
Bankruptcy improve your credit score? Are you kidding me? Not at all. Let's take a look at some reasons that filing bankruptcy might improve your credit score.
(more…)Feeling shame for needing to file bankruptcy? Listen to Leonard Cohen.
Getting collection calls about old debts? Be very careful.
3 Things To Understand About Filing Bankruptcy
OK, you want to file bankruptcy. Here are three basic things you should understand about the process.
(more…)About to have your car repoed? Consider bankruptcy!
Are you behind on your car payments and afraid your car will be repoed? Consider bankruptcy!
(more…)Divorce, property settlements, and bankruptcy (#3)
Planning to get a divorce? Consider what might happen if your ex-spouse files bankruptcy. If you don't, you might be in for a big (and bad) surprise.
(more…)Will I lose my retirement accounts if I file bankruptcy?
I'm often asked if someone will lose their retirement accounts if they file bankruptcy. The short answer is almost certainly not.
(more…)When can I buy a home after bankruptcy?
Divorce, property settlements, and bankruptcy (#2)
If a spouse of a married couple files bankruptcy, a later property settlement might have unintended results. Let's see why.
(more…)I don’t want to file bankruptcy on my car!
I hear that often, and my response is always "You must list all of your assets and all of your debts". But then I proceed to explain that it's very likely that they can keep their car. Let's see how and why.
(more…)When Bankruptcy Is the Best Option (nerdwallet)
Nerdwallet published the best article about bankruptcy that I've ever seen. Take a look and see if it applies to you.
Beware your credit union when filing bankruptcy (#2)!
Do you think your credit union is your friend? You may get a big surprise if you have multiple loans with them and file bankruptcy.
(more…)Do I need a lawyer to file bankruptcy?
Can't I just file bankruptcy without a lawyer and save all that money? The short answer is that you can but probably shouldn't.
(more…)Credit card company has a lien on my house! Can bankruptcy help?
Vacation on your credit cards before filing bankruptcy? Why not?
Why not take a nice vacation on your credit cards right before filing bankruptcy? After all, those debts will go away so why not use up that unused credit and have some fun?
(more…)Want to Eliminate Crushing Debt, Stop Lawsuits, or Stop Foreclosure? Consider Bankruptcy!
Do you need to eliminate crushing debt, stop lawsuits, or stop a foreclosure? Our Congress provided bankruptcy as a financial tool for those purposes. Wouldn't it be wise to see if it could work for you?
(more…)Should you settle your debts instead of filing bankruptcy?
People often ask me it they should settle their debts instead of filing bankruptcy. The answer of course is "it depends". (more…)
Avoiding Bankruptcy Can Backfire
According to a 2015 Federal Reserve Bank of New York report, people who file bankruptcy fare much better than those who avoid doing that. Lets look at some of the ways this happens.
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