I’ve been asked the question a thousand times.  ”How can your clients afford to file bankruptcy if they don’t have any money?”  Its a good question.  Certainly a question I asked before opening my consumer bankruptcy practice 18 years ago.  Where does the money come from? Lets start with the obvious. Family.  I have seen [...]
Bankruptcy Law Network
Filing for Bankruptcy is no walk in the park.� It is an extensive process, with significant document gathering and processing, in addition to research, disclosures, and sometimes multiple court and trustee hearings. �Nevertheless, the more work done up front, the smoother the process will be.� One such area involves compiling all the due diligence documents [...]
I am often asked what to I need to do to file a bankruptcy. My reply is you have taken the first step. You have contacted a bankruptcy lawyer seeking information. Only with this information can you determine if you can file bankruptcy and if bankruptcy is the right thing for you to do. I [...]
Chapter 13 has always been an option for individuals, couples, and sole proprietors (not corporations) who are struggling financially. Since the changes to the Bankruptcy Code under BAPCPA in 2005, more people may have to opt to file Chapter 13 rather than Chapter 7. When a debtor’s income exceeds the state’s median income, he may [...]
Cars and reaffirmations were strange enough but with Household Goods things just get a little bit weirder. Reaffirmation is the process in a Chapter 7 bankruptcy in which the debtor wishes to keep an item that secures a loan. The debtor agrees to continue to pay for the item and the creditor lets them keep [...]
Reaffirmation is the process in a chapter 7 where the debtor agrees to re obligates themselves on a debt and the lender lets them keep the collateral. The debtor makes the payments and keeps the car etc. Reaffirmations of cars and things with wheels are treated very differently through the country even through out certain [...]
