But I Love My Mother! I know you love your mother. I love mine, too. But if you’re in financial trouble, the best way to show her that you love her is to not pay her back–that is, until after your bankruptcy. Bankruptcy law can be counter intuitive. You think something’s logical. It makes sense [...]
Featured
On February 22, 2010, a number of new regulations will go into effect requiring changes in the business practices of credit card issuers. These new rule, part of a law called the Credit CARD Act of 2009, includes several provisions designed to benefit consumers, including: limits on interest rate hikes on existing balances a 45 [...]
I hear the sentiment all the time, you really want me to eat beans and rice for a month? This is Dave Ramsey’s philosophy for getting out of debt. He says you have to be willing to do what you have to do to get out of debt and this may necessitate being frugal with [...]
BAPCPA in effect punishes married Ch. 13 bankruptcy filers if their non-filing spouse has a “decent” income by forcing them into longer plans. One solution might be to get a divorce. Most courts hold that if your income is above the median income for your state, then your Chapter 13 repayment plan must extend for [...]
Student loans are becoming more and more troublesome. People essentially mortgage their lives when they take out student loans. Student loans are not dischargeable in bankruptcy. Let’s say that again. Unless you can prove substantial hardship under the very difficult Brunner test, you won’t be able to discharge your student loans in bankruptcy. Let’s go [...]
There is a whole lot out there on how to choose a bankruptcy lawyer. I won’t rehash it all. Much of it is common sense: get a feel for the attorney, learn about your options, and get some information on fees, track record, and experience. I want to focus on the last thing here: experience. [...]
