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Keeping Some Credit Cards Through Bankruptcy »

When you file for Bankruptcy, what do you do if you want to keep some credit cards?  Hide them from your attorney?  NO!  Such “Bankruptcy Fraud” is not worth 5 years in jail and/or 1/2 million dollar fine!  Instead, it depends.  
If you liked that post, then try these…The 2005 Bankruptcy Act: Bankruptcy [...]

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When Can I File Bankruptcy Again? »

There is no limit on the number of bankruptcy cases that one may file. In fact, there is no limit in between time frames to file bankruptcy. Nevertheless, if sufficient time between filings does not take place, you may be not be eligible for “discharge.”
If you liked that post, then try these…When Do [...]

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What Is A “Medical Bankruptcy?” »

I don’t know.  But, recently, I got a call from someone in Ohio (I’m in California) telling me that she had filed a “medical bankruptcy” but needed some help in California regarding property she owned here.
So, what is a “medical bankruptcy?”  Frankly, there’s no such thing in the law.  I suspect what she meant is [...]

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Bank Accounts: Some Things to Consider When Filing Personal Bankruptcy »

When filing a personal chapter 7 or chapter 13 bankruptcy, most debtors are concerned about the effect the bankruptcy filing might have on their checking and savings accounts. After all, many debtors have banked at the same institution for years, and they do not want to have this banking relationship disrupted. This concern, [...]

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Why Is the Stock Market Doing So Well While I’m Doing So Badly? »

Jobs are bring cut. Housing prices have fallen off a cliff. Wages are stagnant. The “R Word”–Recession–now seems to be accepted by economists as what the economy’s in, and even the “D Word”–Depression–is being tossed about.
In other words, the economy’s in a mess.
So why is the stock market doing so well?
If you liked that post, [...]

Popularity: 12% [?]

The 2005 Bankruptcy Act: Bankruptcy Filings Are Increasing »

There was a lot of hoopla about the reasoning behind the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. When it was first enacted, some thought that bankruptcy was going to be nearly impossible for consumers. And, at first, bankruptcy filings were slow as noted by my colleague and fellow blogger, Peter [...]

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Lawsuits and Bankruptcy »

Repeat after me: “Bankruptcy stops collection lawsuits. Bankruptcy stops collection judgments.” Now, go write this on the blackboard 100 times.
Bankruptcy is a federal right, direct from the U.S. Constitution. Collection lawsuits are state law and they lose out to the superior federal law.
If anyone tells you otherwise, please PLEASE immediately write [...]

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Bankruptcy and Charge-Offs »

You can still file bankruptcy on a charged-off debt.  Any statement otherwise violates federal law and can put money in your pocket.  Please, PLEASE, immediately write down all details of the call and contact your attorney. 
I must repeat the February 15, 2007 post of my colleague, Susanne Robicsek.  A charge-off is a creditor’s accounting entry [...]

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If My Income Increases, Do I Have To Amend My Bankruptcy Petition? »

It is unlikely the bankruptcy petition has to be amended if your income increases after the case is filed. This is because the bankruptcy petition, which is a document whose accuracy you have verified under penalty of perjury, is supposed to accurate as of the date you signed it, and as of the date [...]

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Just One More Time For the Record: Think Four Times! »

In Rachel Foley’s recent posting here, she urges readers to think once, twice, three times about trying to represent yourself in bankruptcy. About a month ago, I posted on a “painful to watch” 341 hearing with two debtors who tried to use a bankruptcy petition preparer and save money. Each [...]

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