Suspension of Plan payments during a Chapter 13 Plan was discussed in Part 3 as a way to address the situation where Plan payments cannot be made. A variation on suspension of Plan payments is to extend the length of the Chapter 13 Plan in order to lower the monthly payments. As with the Suspension of [...]
July 2009
If you’re running low on personal funds, and you have no room left on your credit card, it may occur too you to float a check or two to pay for essentials. The idea behind floating is that you can write a check for a purchase, and deposit the money to cover it in your [...]
Settle your medical debt directly with the Doctor or Hospital for pennies on the dollar. Do it yourself debt settlement saves you money. Medical collection departments are strapped for cash. Once they exhaust insurance coverage, the self-pay balance, that portion of the debt owed by the patient, is negotiable. Call your local medical account department [...]
In Part 2 I discussed the option of a Hardship Discharge if you find yourself unable to make Chapter 13 Plan payments. Another option to help if you are unable to make your Chapter 13 Plan payments is to suspend the payments. In order to be able to suspend the Plan payments you must be [...]
A few days ago, I wrote Part I of a series entitled Bankruptcy and the MLM Distributor. In that post I described my typical MLM distributor as an entrepreneurial, motivated businessperson who worked full time on his MLM business and ran into debt problems because of a sudden or unexpected change in his compensation plan, [...]
Certain actions prior to a filing can cause problems in a bankruptcy case. These problems can range anywhere from having certain debts be declared non-dischargeable, having a general discharge denied, having payments or transfers reversed, among other things. Once you have made the decision to file bankruptcy, there are a number of things you should [...]
