Some people file bankruptcy without an experienced bankruptcy lawyer. What are they risking?
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?
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.
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.
Are you feeling shame for needing to file bankruptcy?
If you get collection calls about old debts, be very careful. Why?
OK, you want to file bankruptcy. Here are three basic things you should understand about the process.
Are you behind on your car payments and afraid your car will be repoed? Consider bankruptcy!
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.
I'm often asked if someone will lose their retirement accounts if they file bankruptcy. The short answer is almost certainly not.
I'm often asked "When can I buy a home after bankruptcy?" Let's take a look at that.
If a spouse of a married couple files bankruptcy, a later property settlement might have unintended results. Let's see why.
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.
Nerdwallet published the best article about bankruptcy that I've ever seen. Take a look and see if it applies to you.
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.
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.
A credit card company sued me, got a judgment against me, and put a lien on my house. I can't sell the house without paying the lien amount before I get any money. Can bankruptcy help? (more…)
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?
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?
People often ask me it they should settle their debts instead of filing bankruptcy. The answer of course is "it depends". (more…)