To borrow or not to borrow from the 401(k) plan to pay off credit card debt, that is the question. The answer to this question will have to be decided by the individual. The decision depends upon the amount of debt you’re carrying, the amount in your 401(k), and the type of person you are. [...]
August 2009
Chapter 7 bankruptcy is a wonderful way to eliminate your debts, but a complex process. Â You may be wondering how the process works. For many filers, bankruptcy can be an overwhelming process, but understanding how bankruptcy works can make the process a bit less frightening. Here are the 9 steps involved with filing Chapter 7 [...]
On June 25, 2009, the Ninth Circuit Court of Appeals ruled that a Chapter 7 Trustee could not undo a highly unbalanced property distribution arising from a dissolution proceeding where judgment was entered in State Court. Such a ruling is significant in now providing more security to debtors that seek bankruptcy after divorce, and where [...]
One of the most common questions for bankruptcy lawyers is how late can you be in paying a Chapter 13 bankruptcy plan. The simple answer really is that there’s no grace period. The Bankruptcy code requires that payments begin no later than 30-days after the case is filed and that they continue to be made [...]
If you’ve been thinking about filing bankruptcy, you have probably wondered what your life will be like afterwards. Many consumers assume that, since your credit report will list a bankruptcy for ten years, they’ll be unable to obtain any kind of credit at all. It is true that you’ll deal with the effects of bankruptcy [...]
