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Archive for February 3rd, 2007

Free Annual Credit Report »

Did you know that under the Fair Credit Reporting Act you are entitled to one free credit report every 366 days? What this means for you is that every 366 days you can go to annualcreditreport.com and request a copy of your Experian, Equifax and Transunion credit report for free.
You should do this at [...]

Utilities and bankruptcy »

People often seek to discharge their back utilities payments through bankruptcy. You can do that but keep in mind that the utility company can and often will charge a deposit for your service. The bankruptcy code allows the utility company to shut off your service on the 21st day following the filing of [...]

Tax Refunds as Assets »

Tax refunds are assets that may belong to the trustee. If you are expecting a tax refund it is considered to be an asset that can be used to pay back your creditors. It is crucial that you let your attorney know if you expect a refund for 2006 or any other year. [...]

Costs of Credit Counseling in a Bankruptcy Case »

You initial credit counseling course must be taken prior to filing a bankruptcy case. The certificate is only good for six months from the date of the course. This means that you must use it to file bankruptcy at any time within that six months.
The second course is called “Debtor Education” and it [...]

Four Reasons Not To File Bankruptcy »

Here are four reasons not to file bankruptcy.
Shame.
Guilt.
Worthlessness.
Failure.
These are very powerful feelings. They go right to the heart of who we are, of what we think about ourselves. Of what gets us up and out of bed in the morning.
But one out of every 15 Americans has filed bankruptcy in the past five years. 300 million [...]

Do I Qualify for Chapter 13? »

Chapter 13 is different from the other forms of bankruptcy relief in that it has limits on the amount of debt the debtor can have and file Chapter 13. Here are the maximum amount of debt permitted in Chapter 13:

Secured debt: $922,975
Unsecured debt: $307,675

Secured debts [...]