Bankruptcy is an economic solution that has many myths attached to it and most of those myths are false. One truth about every bankruptcy case is that you will have to pay to file for bankruptcy. Another misconception is that all lawyers, including bankruptcy lawyers cost an arm and a leg. We want you to …
You always have the right to control who represents you in legal matters. That is a fact that is always true no matter what type of legal situation you find yourself dealing with. If you filed a bankruptcy and Firm A represents you; you have the right to fire Firm A and hire Firm B …
When you surrender your home in bankruptcy, you are discharging the debt associated with your home. This includes all debt associated with the home (property taxes, liens, mortgages, homeowner association fees, etc.). Once you file bankruptcy and notice goes out, you should not be receiving any collection letters from your creditors. If you are then …
My Home Was Surrendered, Why Do I Keep Getting Bills Read More »
There are two required financial courses in Bankruptcy. The first course is taken before you file bankruptcy and the second course is taken after you have filed the bankruptcy. The First Class – Pre-Filing Bankruptcy Credit Counseling This class is intended to help you prepare for bankruptcy. It goes over several budget/finance related questions to …
In my career clients sometimes will ask “why can’t I just file bankruptcy on my own?” My answer is always the same, “if your arm was broken, would you reset the bone yourself or go to a doctor?” Clients always say “I’d go to a doctor” This is the exact same situation, your financial life …
Each chapter or type of bankruptcy defines who is eligible to be a debtor in its definition. Some of the chapters are reserved solely for individuals, some can be used by individuals or businesses. The most common forms of bankruptcy are Chapter 7, Chapter 13, and Chapter 11. An individual or business can be a …
Are there different types of bankruptcies for business vs personal bankruptcies? Read More »
Can I include my student loans in my bankruptcy? Are there qualifications I have to meet? What is the process? Is it different than a “regular” personal bankruptcy? Student loan debt is likely to be the next bubble that bursts in our economy. Today, there is over $1 trillion in federal student loan debt! …
What happens with student loans during bankruptcy? Read More »
A common question I always receive from debtors is “do I have to do anything different when I file my tax returns?” The short answer is no. This article will address the actions a debtor must take in order to properly file a tax return with the Internal Revenue Service and have no negative impacts …
I FILED BANKRUPTCY THIS YEAR … DO I NEED TO FILE A TAX RETURN Read More »
To answer this question, we first need to identify which chapter of bankruptcy you have filed or are planning to file. There are several chapters, but the primary consumer chapters are known as a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. Chapter 7 Bankruptcy: In a Chapter 7 Bankruptcy, the timing of the tax …
So you filed a bankruptcy and received your discharge and do not want to ever have your wages garnished again; this article is to help you avoid that situation for ever. First you need to congratulate yourself; you have made it through the hurdle of completing your bankruptcy and receiving your discharge! You now have …
