I'm often asked if someone will lose their retirement accounts if they file bankruptcy. The short answer is almost certainly not.(more…)
I'm often asked "When can I buy a home after bankruptcy?" Let's take a look at that.(more…)
If a spouse of a married couple files bankruptcy, a later property settlement might have unintended results. Let's see why.(more…)
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…)
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.(more…)
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…)
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?(more…)
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…)
People often ask me it they should settle their debts instead of filing bankruptcy. The answer of course is "it depends". (more…)
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.(more…)
If you ignore papers notifying you that a lawsuit has been filed against you, things could go very wrong. If that happens, filing bankruptcy might fix it for you.(more…)
Clients who are preparing to file bankruptcy often tell me that many of there debts are "charged off", thinking that they don't owe them any more, and ask me if they still need to file bankruptcy. Let's take a look at that.(more…)
If you owe way more on your car than it's worth, filing bankruptcy might fix that. How does that work? (more…)
People who have filed bankruptcy are being targeted in a scam. (more…)
A creditor sued me and got a court judgment against me. Is it too late to file bankruptcy to get rid of that debt?(more…)
I'm owed $150,000 of back child support that I haven't been able to collect, and I need to file bankruptcy. (more…)
I want to give my son $20,000 for a wedding present, probably by borrowing from my 401K retirement account. But I also need to file bankruptcy. Would that be a problem?
If the best way out of your struggling financial situation is to file bankruptcy, should you continue to pay your creditors? The answer is important, but not black-and-while. Let's take a look at this.