Posts tagged with: "bankruptcy"
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13 Jan 2012, 10:32 am
Joint Accounts for Married Couples: Can Your Financial Choices Lead to Divorce and Bankruptcy? Several surveys report that the majority of married couples put all of their money in joint accounts. However, that number is less than it used to be, and there are several other options available to married couples. Some couples choose to [...] [read post]
6 Feb 2012, 2:11 pm
Previously, I discussed the bankruptcy rule that employers cannot fire or otherwise discriminate against employees because they filed for bankruptcy. However, I also mentioned the difficulty in sometimes proving the causation element between the filing and the discrimination, and the fact that a bankruptcy will still come up on credit checks and other types of [...] [read post]
24 May 2012, 10:37 am
There are two typical types of financial setbacks that lead to bankruptcy for most people: a huge surprise, and a slow and steady increase in debt. If you are on the surprise side of things, as many of us are from time to time, it is important to follow several important steps. If you just [...] [read post]
13 Jan 2012, 12:21 pm
Losing Your Driver’s License Can be a Big Headache Losing your driver’s license can have a huge impact on your life. Without a license, meeting basic needs is much more difficult. Suddenly, you may still have to make car payments, but cannot use your car to get to work or the store. This can be [...] [read post]
4 Dec 2011, 9:17 am
In re: Moser, No. 09-11945 (Bankr. N.D. Calif., May 18, 2011). In your interactions with the bankruptcy court, it is important to be as kind and respectful, and honest as possible. The bankruptcy court has a lot of discretion in making important decisions that will influence your life for a long time. It is not [...] [read post]
21 Nov 2011, 4:17 pm
When Your Employer Files Bankruptcy… In today’s economic climate, it’s not enough to be careful with your own finances – you may face the bankruptcy of your employer. Then what? Does your employer have to continue to pay you, and give you health and retirement benefits? Will you still be able to get paid what [...] [read post]
31 Oct 2012, 10:01 am
Filing for bankruptcy is sometimes the best and only option for families looking for a fresh start in life, but there are times when a person should wait to file for bankruptcy. Some reasons you should wait to file for bankruptcy is if any of the following are occurring:
Divorce
Monetary transfers
Expected medical bills
Recent credit card charges
Unpaid income taxes
If you have a planned surgery or medical expenses, it’s best to wait until after all medical treatment has been completed because… [read post]
15 Oct 2012, 8:31 am
Debt can come in a number of forms for a wide variety of reasons. Most people think debtors file for bankruptcy because they buy all kinds of luxuries they can afford. That is not always the case. Below is a list of the most common types of debt that can be discharged in bankruptcy:
Credit Card Debt
Medical Bills
Mortgage Debt
Vehicle Loans
Unpaid Tax Debt
Personal Loans
Debt occurs when a person is unable to make payments on loans or bills. Sometimes it’s due to a decrease in salary or the… [read post]
16 Jan 2012, 11:42 am
Many people who have considered bankruptcy are aware of the fact that bankruptcy treats secured and unsecured debts very differently. If most of your debt is secured, should you even consider bankruptcy? If not, what are your other options? Secured debts are debts that are attached to your assets. A home mortgage is a good [...] [read post]
10 Apr 2012, 9:17 am
Clients are always concerned about their credit score. It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option. Although bankruptcy does have an effect on your credit, the effect may not be as [...] [read post]
11 Mar 2013, 3:32 pm
First, it is important to determine whether the source of your income is garnishable. For example, if your income is from unemployment or social security, your money is protected and you can get the creditor to stop the garnishment and possibly even return the funds. If your income is garnishable, the easiest way to stop the garnishment is by paying the bill. However, you may not have the means to do so.
Many people in Arizona are struggling to pay their bills right now. And when it comes down to… [read post]
3 Jun 2010, 5:55 pm
Chapter 13 Bankruptcy In San Diego – San Diego Bankruptcy Attorney
A Chapter 13 bankruptcy in San Diego has a number of benefits that will allow you to get the fresh start you need. A Chapter 13 bankruptcy will stop all creditor harassment, allow you to stop foreclosure, keep your property and repay your debts over [...] [read post]
30 Sep 2011, 2:51 pm
In my Philadelphia bankruptcy and debt negotiation practice, I regularly meet clients who are reluctant even to talk about bankruptcy. Sometimes, they have heard horror stories or read misleading information. Other times, they believe that filing for bankruptcy means that they have failed, regardless . . . ? Read More: Avoiding the Bankruptcy Conversation Can Be Costly [read post]
11 Nov 2011, 2:00 pm
What is a Lien strip? A Lien strip is possible only in a Chapter 13 bankruptcy and only if the fair market value of the property is less than the total amount of money due on the first mortgage. In that case a second and third mortgage if any can be stripped off the house. [...] [read post]
21 Nov 2012, 8:59 am
Chief Executive of Peregrine Financial Group Inc., Russell Wasendorf is auctioning off his assets on December 5th to pay back customers and creditors of his failed brokerage. The court-appointed receiver spent nearly 4 months tracking down all of Wasendorf’s possessions, which include antique cars, snowmobiles, construction equipment, office equipment, restaurant equipment, personal furnishings, and 2,100 bottles of wine valued at $100,000.
Bankruptcy offers individuals a chance to eliminate… [read post]
15 Nov 2012, 8:38 am
When you file for bankruptcy, you’re required to complete a debtor education course before the bankruptcy process is finished. The debtor education course is designed to help debtors plan for the future and avoid bankruptcy. The education course is two hours long and consists of discussions regarding budgeting, credit spending, and financial management.
Once you’re ready to begin your debtor education course, you’ll need to have this information:
Your mother’s maiden… [read post]
30 Jan 2012, 1:34 pm
The automatic stay protects consumers who file for bankruptcy One of the greatest advantages available to the debtor who is willing to consider bankruptcy as an option is the automatic stay. The automatic stay orders creditors to refrain from collection practices immediately once a debtor has filed for bankruptcy. But we all know that rules [...] [read post]
15 May 2013, 12:29 pm
Bankruptcy cases are filed in U.S. Bankruptcy Court, which is a division of the Federal District Courts. Divorce, collection, probate and similar cases are filed in one of the 31 Kansas District Courts located sporadically throughout Kansas. The three Kansas Federal Courthouses, which contain the bankruptcy courts, are located in Kansas City, Topeka, and Wichita.... [read post]
23 Sep 2011, 6:16 pm
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Bankruptcy lawyers spend almost all their time dealing with the law as it is. After all, we’re not members of Congress. But as I deal with our bankruptcy law here in the U.S., I can’t help but wish it were different. Our bankruptcy law changed in 2005 [...]
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Bankruptcy Documents: It’s a Moving Target!
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7 Dec 2012, 8:40 am
When someone is facing hard times financially, they’ll do just about anything to get on top of it, even if it means consulting a debt settlement company. A debt settlement company typically promises to work with your creditors to reduce the amount you owe.
A typical debt settlement company charges high fees for their services up front. Even if they can’t reduce your debt, they still get to keep that money. These types of businesses also tend to encourage their clients to stop paying… [read post]