Filing for bankruptcy, whether it’s Chapter 7 or Chapter 13, requires disclosures of all of your assets. Over my career as a bankruptcy lawyer I’ve been asked the same dreaded question time and time again: How will the trustee know? The short answer is that the trustee probably won’t know … BUT … A conscience is [...]
January 2007
Everyone has seen the ads on TV: “Erase your debt,” “Clean up your credit,” “Save your house from foreclosure,” and so on. If you’re having financial problems, they sound pretty good–an easy way to get back on track. But do they really work? Well, like diet ads that promise you can eat all you want [...]
Scroll down to read them all: Myth 1: Under the New Bankruptcy Law, There’s No More Bankruptcy Myth 2: Everyone Will Know You Have Filed for Bankruptcy Myth 3: You Will Lose Everything You Have Myth 4: You Will Never Be Able to Own Anything Again Myth 5: You Will Never Get Credit Again Myth [...]
According to the Bible, it it moral to file for bankruptcy? Recent studies have shown that the average American family is only three weeks away from personal bankruptcy. So it is time to revisit what the Bible teaches us about debt. The Bible makes it clear that people are generally expected to pay their just [...]
Yes. You still owe the charged-off debt. Many people mistakenly believe a creditor does not want to collect a charged-off account. Wrong-o! A charge off is merely a bookkeeping entry. It does not affect your obligation to pay. When it becomes apparent to your creditor that you are not paying and are not going to [...]
A Debt is a legal the amount of money owed to the owner of the obligation, usually a Creditor. Debt predates the filing of a Bankruptcy case and remains in existence throughout and after a case. The Claim exists only in the context of the bankruptcy case. It is a manifestation of the amount of [...]
