It pleases me to no end when I get a call from someone I represented in bankruptcy a few years back and I find out they are doing great and are back on their feet. I like hearing fromformer bankruptcy clientsand getting good news.
Often the call from former clients is prompted in because they need something from me to get a loan.
Not all loans are bad, but I start out worried when I hear that they are about to get into debt. Bang! If youhit your headon a low branch once or twice, you'd learn to duck or walk down another path. It is always my hope that filing for bankruptcy helps people get onto a new path with a balanced budget, the ability to save to cover purchases they used to have to finance, and to hear that they also have gotten to the point where they even have enough money to do something a little extra for themselves or are buying a new [modest] home.
The question I got this week was from a former Chapter 7bankruptcy client who had received adischarge last year. His case was completed and closed, and he had been able to get a fresh start free from overwhelming debts.
He wanted to know if he could take a loan from his 401k retirement which he hadexemptedin his bankruptcy case.
"Can I get a loan now?"
I've seen lots of funny men; Some will rob you with a six-gunAnd some with a fountain pen.~ Woody Guthrie (Pretty Boy Floyd)Last month, Elizabeth Warren asked a pointed question of senior treasury department officials regarding why no enforcement action had ever been taken against...
Even if you surrender your home in bankruptcy, you are still liable for your homeownerâ€™s or condominium ownerâ€™s association dues that become due after the date of filing. As a general rule, all the debt that you owe on the day you file your bankruptcy is...