Informational Blogs
When filing bankruptcy, time is of the essence. Because the sooner you file, the sooner you can recover garnished wages, stop creditors from calling and harassing you, and get the protection of the automatic stay, which can stop eviction, foreclosure, or having utilities shut off. While you technically do not need to bring anything with you, it helps to bring…Read More
Foreclosure of real estate is sometimes a tough situation to figure out. Should I try to stop the foreclosure and save my house? Should I let the foreclosure proceed? What happens to a second mortgage? What are the possible tax implications? Here is the key: Meet with an experienced bankruptcy attorney to find out your options before you make any…Read More
The U.S. Government got in trouble in the media earlier this year when it began seizing tax refunds from people to repay debt incurred by an older relative. The cases had to do with overpayment by Social Security for benefits paid out to relatives decades earlier. Previously, there was a 10-year statute of limitations for tax return garnishment for unpaid government…Read More
In reality, for most people there are far more than 5 advantages to filing bankruptcy; however, I thought I would highlight at least 5 obvious advantages. Some people dwell on the negatives associated with bankruptcy without considering the long-term stress and problems afforded by a life with debt that you can’t afford to pay off. Bankruptcy has it’s merits for…Read More
In general, filing Chapter 7, 11, or 13 will eliminate judgments against you, including debt, liabilities, and torts. The official term for this is discharge. However, not all debts can or will be discharged. To understand this a little better, there are basically 2 Types of liability: "In Personam" and "In Rem." In Personam means "against the person." In Rem…Read More
Should I Postpone My Divorce To File Bankruptcy? That is one of the most common questions I get on a weekly basis. There is no simple answer to this question. The order in which you address these two major life issues will have a lot to do with your relationship with your spouse, your income, and the distribution of income…Read More
When filing bankruptcy, you are required to have an attorney to represent your corporation or partnership. But if you are filing Chapter 7 or 13 bankruptcy as an individual, it is permissible to file on your own. It’s called Pro Se bankruptcy. But, it is a good idea? Here is an analogy to attempting to file a bankruptcy on your…Read More
If you’ve talked to any of your friends and family about the possibility of filing for bankruptcy, they have probably mentioned an ad they saw or heard for debt settlement. So is debt settlement a good alternative to bankruptcy? In limited situations, Debt Settlement might be a viable option if you have ONLY ONE debt that has gotten away from…Read More
A recent poll by TD Ameritrade revealed that most people would not let money troubles stand in the way of true love. Respondents were asked if issues such as bad credit, lots of debt or bankruptcy would affect their plans to marry someone. In the poll, 32 percent said they would call off a wedding if they found out their…Read More
If a creditor is garnishing your wages, filing bankruptcy stops it immediately. It also stops interest from accruing on unsecured debt, stops the creditor from charging you additional attorney/collection fees and stops creditor phone calls/letters. There are several steps to accurately preparing and filing your case. However, our firm files these cases and stop garnishments on a daily/weekly basis. As…Read More