There are many bankruptcy lawyers out there. Who do I pick? Here’s a list of who not to hire: Don’t hire the least expensive just because he or she is cheapest. You generally get what you pay for. Filing Bankruptcy isn’t just checking boxes and filling out forms. Don’t hire the attorney with [...]
April 2007
Okay. Two years have passed since you received your bankruptcy discharge – wait! You haven’t waited two years? Best to do so. You might, maybe, remotely possible, find a lender who will provide you with a mortgage earlier than two years, but the fees and interest rate will destroy you. Really. Best to continue until [...]
Industrious lawyers have pinpointed several attacks on the anti cram down provisions of the newly amended Bankruptcy Code. In 05, car lenders successfully lobbied for a prohibition on stripping down car loans to the value of the underlying collateral where the car was purchased within 910 days of the bankruptcy filing. Bankruptcy lawyers call these [...]
A recently released federal study found that baby boomers are filing more bankruptcies that ever before. According to John Golmant and Tom Ulrich, researchers at the Administrative Office of the U.S. Courts, the greatest increase in Chapter 7 filings between 1994 and 2002 occurred among people older than 55. Even though the study will be [...]
Chapter 7 and Chapter 13 are the two types of bankruptcy that individuals or married couples usually file. Chapter 7 is sometimes called “complete” or “total” bankruptcy, or “liquidation”. Chapter 13 is sometimes called “debt relief”, “individual reorganization” or “debt adjustment”. In a chapter 7, you file your petition, and within a few months (absent [...]
When you file bankruptcy, you are likely to find yourself left without credit cards. This is a strange position for most people to be in. How do you deal with an emergency if you don’t have credit cards? Well, the answer is planning for what most people call emergencies. In North Carolina, the Chapter 13 [...]
