Sometimes it’s hard to give up old habits. Paying debts feels right. Even when it’s right and necessary. Filing bankruptcy still feels like it out to be “wrong.” So sometimes folks ask us if it would look better — to the court and to future lenders — if they paid off or settled some debts [...]
February 2010
Never give in. Never give in. Never, never, never, never–in nothing, great or small, large or petty–never give in, except to convictions of honor and good sense. Never yield to force. Never yield to the apparently overwhelming might of the enemy. - Winston Churchhill Some “experts” have commented on how hard it is to reorganize [...]
Reaffirmation agreements are the subject of great debate. Secured creditors, like auto lenders, want you to sign them if you file Chapter 7 bankruptcy. Reaffirmation agreements prevent debt from being discharged, and lenders like that. But because your discharge is the Holy Grail of the bankruptcy process, you need to weigh your options very carefully [...]
When you are filing a bankruptcy case, you have many duties. More duties than we can cover in one post. Your bankruptcy lawyer should make it easy for you. It’s important that your bankruptcy papers are true. One of the questions in your bankruptcy papers asks how much money you have in the bank and [...]
“Don’t ruin your credit by filing bankruptcy!” “The secret the credit card companies don’t want you to know!” “If you owe at least $10,000 in credit card debt, you are eligible for our program!” “Recent changes in federal law require credit card companies bailed out by the federal government to settle their debts with you!” [...]
Bankruptcy trustees are essentially in charge of administering your Chapter 7 or Chapter 13 case. In order to do so, they require full and complete information. You have to list people to whom you are paying alimony or child support in your bankruptcy papers. Your ex-spouse to whom you are paying domestic support obligations are [...]
