Blog
Special Rules for Divorce and Bankruptcy
Sometimes financial problems are stress factors that lead to divorce. And, people who decide to divorce often consider bankruptcy as well. So, while divorce and bankruptcy may go hand in hand, it is important to realize that divorce changes the rules somewhat for bankruptcies. Divorce and bankruptcy become associated in several ways. Divorce addresses debts […]
October 29, 2012 Posted in Bankruptcy Tagged bankruptcy, Chapter 11, chapter 13, chapter 7, debt, discharged, divorce, financial problem Leave a comment
What Debts Take Priority When You File Bankruptcy?
Will bankruptcy handle your most pressing debts? This is a major consideration when deciding whether or not to file bankruptcy. By law, not all debts are treated equally. Some take priority over others and get paid first. There are even certain debts that bankruptcy cannot eliminate at all. Suppose that your most pressing debt is […]
October 25, 2012 Posted in Bankruptcy Tagged debt, filing for bankruptcy, secured debt, unsecured debt Leave a comment
When to Delay Filing for Bankruptcy
Just as there are reasons you should file bankruptcy right away, there are times then a bankruptcy case should be delayed. The best way to know is to discuss your financial problems with a skilled bankruptcy lawyer. Some reasons your attorney may advise you to wait include: Divorce Monetary transfers Expected medical bills Recent credit […]
October 23, 2012 Posted in Bankruptcy, Chapter 7 Tagged bankruptcy filing, bankruptcy lawyer, chapter 7 bankruptcy, debt Leave a comment
How Bankruptcy Affects an Inheritance
People may be concerned about an inheritance they expect to receive before filing for bankruptcy relief or what happens to an inheritance they receive after filing for bankruptcy relief. If you receive an inheritance prior to filing bankruptcy, depending on the monetary amount you receive, you may lose a large portion or all of the inheritance. If the value of the […]
October 19, 2012 Posted in Bankruptcy Tagged file bankruptcy, inheritance Leave a comment
Actions that Damage Your Credit Score the Most
Today, people can monitor their credit scores by subscribing to services that provide them with periodic credit reports. People often have a fear of never fixing their credit scores after bankruptcy or other financial troubles, but credit scores can be restored. You can rebuild credit and restore a credit score to a former acceptable range, […]
October 16, 2012 Posted in Credit Tagged bankruptcy, credit reporting system, credit score Leave a comment
What is a Trustee’s Role in a Bankruptcy Case?
There are two types of trustees, the trustee who immediately oversees a particular bankruptcy case, and the U.S. Trustee. Trustees A trustee is a private individual or corporation assigned by the bankruptcy court system to oversee a particular bankruptcy case. The trustee’s role in overseeing a bankruptcy involves various functions such as: Liquidating estate assets […]
September 13, 2012 Posted in Bankruptcy Tagged bankruptcy case, bankruptcy lawyer, chapter 13, chapter 7, trustee, US trustee Leave a comment
How Can Bankruptcy Help with an Underwater Mortgage?
As a result of the housing market crash, housing prices dropped in many regions of the United States. An underwater mortgage is a new term coined to describe house values that are less than the home’s mortgaged value. For example, let’s say that a couple bought a house for $300,000 and arranged a loan with […]
September 11, 2012 Posted in Chapter 7, Mortgage Modification Tagged bankruptcy, bankruptcy attorney, chapter 7 bankruptcy, debt, underwater mortgage Leave a comment
Understanding Automatic Stays and Motions for Relief from Stay
By the time many people consider filing bankruptcy, they are buried in creditor collection calls or perhaps even threatened with wage garnishment, foreclosure or repossession. Consequently, it is a relief to understand what an automatic stay does for you. Filing a bankruptcy petition automatically triggers a court order called an automatic stay. An automatic stays […]
September 6, 2012 Posted in Bankruptcy, Debt Tagged automatic stay, creditor, debt, filing bankruptcy Leave a comment
Does Bankruptcy Get Rid of Liens?
There are three basic types of liens and bankruptcy treats each type differently. Consensual lien. When buying a home or car you consent to the lender putting a lien on the property, which serves as collateral for payment default. This is a consensual lien. Statutory lien. A statutory lien is one created under statutes, such […]
September 4, 2012 Posted in Bankruptcy Tagged bankruptcy, debt, debt relief, lien Leave a comment
Foreclosure Defense as an Alternative to Bankruptcy
In some cases, a bankruptcy lawyer can help you with foreclosure defense, which is an alternative to filing bankruptcy. To understand how foreclosure defense works, you first have to understand how the mortgage industry changed its operating basis in recent years. The way the mortgage industry used to work was the individual bought a house […]
August 30, 2012 Posted in Foreclosure Tagged filing bankruptcy, foreclosure, foreclosure defense Leave a comment
