Former Bankruptcy Attorney to the Kansas City UAW: Ford and GM workers, now assisting the general public in Missouri and Kansas with regaining financial control using the Bankruptcy Code. 816-472-HELP (4357).

 

Author: Rachel Lynn Foley, Esq.

07 Dec Resistance is Futile… Or so the Creditors Think.

Resistance is Futile.The holiday season has rolled around once again and regardless of whether you are in bankruptcy, this season tends to be a season of stress instead of joy. Americans continue to focus on purchases geared towards their wants instead of their needs. This pattern of spending is exactly what creditors prey on to increase their profits.  They spend money designing advertising to convince you through guilt that you really can afford to spend thousands of dollars for unnecessary Christmas gifts.  The creditors do not care you are struggling to keep a roof over your head, pay your student loans,  and put food on the table all while continuing to pay for your health insurance.   The sole goal of the creditor this holiday season is to increase their money by taking yours.
Read More

28 Feb The Superpower Of NO!

NO!Wow, you mean I will receive superpowers when I file bankruptcy?  Well, kind of, sort of but technically... no.  What bankruptcy will do is give you back up when you want to say NO to any family members or friends who continue to ask for money. You know what I am talking about.  Your kids or adult children, parents, or friends who continue to hound you about money, and you just can't say no to them. You try to say no, you know you should say no, but you just can't bring yourself to say the word, no.  Why is that?  Throughout the years, I have discovered my clients feel incredibly guilty when saying no to just about anyone.
Read More

18 Jan Liar, Liar, Pants On Fire!

[caption id="attachment_46024" align="alignleft" width="300"]Liar, Liar pants on fire! Failure to list assets may make you a liar, liar, pants on fire![/caption] What is an asset and better still, why do I need to tell anyone about it in bankruptcy?  Let's start with the definition of an asset.  Merriam-Webster defines an asset as something owned by a person.  Merriam-Webster has provided a simple but most excellent way to describe the term "asset". To determine if something is an asset, ask yourself, "Do I own it?"  If the answer is yes, you MUST list "it".  Please allow me to illustrate.  A dog lives with you, do you list it?  If you feed the dog and care for the dog, you probably own the dog.  So list it.  If the dog is not an AKC registered dog or does not qualify as a show dog, then the value is $0.  I know, I know, the dog is part of the family and priceless, but no one else is going to pay a significant amount of money for the dog.  Therefore, the trustee will not want the dog, but you have complied with your duty to list the dog as an asset.
Read More

18 May Let it Go! What A Great Bankruptcy Theme Song!

[caption id="attachment_45834" align="alignleft" width="300"]Let it go! Let the debt go![/caption] I can't think of a more appropriate theme song for those in a financial crisis than Let it go from the movie Frozen. A theme song sets the tone or mood for what is about to come. Walt Disney has a history of providing life lessons through entertainment so it is no surprise Frozen and Let it go follow in this tradition. The lesson in Frozen is to "Let it go" as all too often trying to be the "perfect girl" creates a ripple effect of sleepless nights and crushing debt. The more you try to become perfect, the more you discover just how unrealistic this sense of perfection is and the only way to stop this behavior is to LET IT GO!
Read More