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!(more…)
Why avoid certain banks if filing bankruptcy? Because if you don't, you could lose a lot of money! Here's why and how…(more…)
Many clients ask me if the debt that's discharged (eliminated) in bankruptcy will stay gone forever.(more…)
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 years.(more…)
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.(more…)
"NO", and let me count the reasons!(more…)
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?(more…)
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.(more…)
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.(more…)
"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.(more…)
A study found that the bankruptcy code is an incredibly effective social insurance policy.(more…)
I'm often asked if someone can get rid of payday loans by filing bankruptcy. Let's take a look at this.(more…)
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.(more…)
Some people file bankruptcy without an experienced bankruptcy lawyer. What are they risking?(more…)
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…)
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…)
Are you feeling shame for needing to file bankruptcy?
If you get collection calls about old debts, be very careful. Why?