A chapter 7 bankruptcy can be easy or difficult. Here are four steps to making it go quickly and smoothly: 1. Hire a competent knowledgeable bankruptcy attorney that you can talk with. Provide your attorney every piece of information and all of the documents she asks for. Remember that the attorney is on your side: […]
The Basics Of Bankruptcy
If you’re thinking about bankruptcy as a way to end your bill problems, it’s important to understand what you’re getting yourself into. These articles on the basics of bankruptcy can help you get your feet wet so you can be better prepared to work with your lawyer.
Has anyone ever offered you $500, $1,000, $2,000 or more for you to sign your name – no strings attached? Assuming you are not a celebrity working an autograph show, cash offers like this are not likely to happen. Yet I hear stories about these “too good to be true” offers at least once or […]
The 2005 Bankruptcy Reform Act’s “means test” for chapter 7 bankruptcy filers was weakened by a recent ruling from a Texas bankruptcy court. Under this ruling, student loans incurred for the purpose of obtaining a professional degree to be used in business are not “consumer debts” under section 707(b) of the bankruptcy code. This new […]
A bankruptcy petition preparer in Michigan was sentenced in federal court to several years in prison. The story can be accessed here. As reported by the Detroit News, a man was convicted of violating several orders from the United States Bankruptcy Court prohibiting him from filing petitions for people. Bankruptcy petition preparers can do some […]
Filing Bankruptcy is all about timing. Sometimes, waiting to file makes good sense and will save the debtor a lot of headaches and some significant debt. Sometimes, however, the time to file is as soon as possible. Let’s look at six reasons to file now; and six reasons to wait: File now when: 1. Your […]
In bankruptcy, some words don’t have their ordinary meanings. “Surrender” is one of these words. Many people who file bankruptcy surrender real estate or their car. They think that once they tell the Court, the Trustee and the creditor that the item is being surrendered they’re done with it. They’re not. When property is surrendered in […]