You will have to keep making your mortgage payments if  you have a mortgage and want to keep your house after filing for bankruptcy.  I have had a number of phone calls recently from people who can’t afford their mortgage payments.  They were under the impression that by filing bankruptcy, they could keep their [...]

Debtors filing for bankruptcy protection should be concerned about their right to receive an inheritance within the six months after filing for bankruptcy (if some relative has died before filing bankruptcy or the relative dies within 180 days of the debtor’s filing), as the bankruptcy trustee can take that inheritance to pay creditors.

A regular question we hear from folks comes in two flavors:

Do I have to be current on my bills in order to file bankruptcy?

How far behind do I have to be to file bankruptcy?

The simple answer is that you need to be in debt to consider bankruptcy but where you are in your payment cycle [...]

A tire company sent a reaffirmation agreement to me for one of my clients to sign.  A reaffirmation agreement is a new contract to pay an old debt that is included in your bankruptcy filing.
I laughed when I saw who it was from but I laughed even harder when I discovered it was for a [...]

New bankruptcy time deadlines take effect December 1, 2009.  Time will now be computed in multiples of 7.  This change will minimize situations where deadlines come due on weekends.
Bankruptcy has many different deadlines based on multiples of 5 – 5 days to submit documents, 10 days to appeal, 15 days to file pleadings, 20 or [...]

One of the most common fears that people considering bankruptcy have is whether or not they will lose their retirement if they file for bankruptcy.
Like all legal questions, the answer to the question of whether or not a debtor will lose their retirement benefits if they file for bankruptcy is that they will probably not [...]

From time to time I receive emails from men or women who have gone through a divorce and whose ex-spouse has filed a bankruptcy.  They usually want to know if their ex-spouse’s bankruptcy can eliminate obligations set out in a divorce order.
In general, Bankruptcy Code Section 523(a)(5) and 523(a)(15) except from discharge debts arising from [...]

It happens all too often, and it is always sad.  A family member dies with outstanding debts, and the collectors call the survivors.
You are generally not responsible simply because you were a relative, although there may be a special law in your state for some limited purpose.  In Massachusetts, a spouse is obligated for “necessaries” [...]

Federal law limits wage garnishment to 25% of the weekly disposable earnings or to that amount that is over 30 times the Federal minimum hourly wage, whichever amount is less.  The federal law is found at 15 USCS Section 1673.
In short, as of August 3, 2009, the first $217.50 is exempt.  This amount will change [...]

Yesterday, major news sources reported that the money set aside by Congress for the “Cash For Clunkers” program was being depleted rapidly (as explained in my blog, “Cash For Clunkers:  Short Deal“).   In Detroit, car dealers were reportedly staying open late into the night in order to have customers be assured of the rebates before [...]