Bankruptcy Blog

Owning and maintaining one or more rental properties can sometime be financially draining, especially while in bankruptcy. This is usually caused from tenants having to be evicted for failure to pay rent or repairs and upkeep after a tenant has moved out. You can sell the rental property while in bankruptcy however a motion to [...]

When a Debtor is in an active Chapter 13 bankruptcy, they are not allowed to incur any new debt without the permission of the court. This means they can’t buy a new car or house, and they definitely cannot use credit cards. A motion must be filed to obtain permission for the Debtor [...]

If because of life changes divorce, loss of income, or major medical, your perfect credit might now be bad credit. Creditors don’t really care what happened they want their money. They can call you everyday or even sue you. The chance of them forgetting about the debt “not going to happen”.
Now that this has [...]

A chapter 7 bankruptcy is way to discharge unsecured debts. Unsecured debts are usually credit cards, medical bill, cars that have been reposed, Broken apartment leases, and other similar things. When you say discharge the debts you do not or will not ever have to pay them, and they will fall off your credit when [...]

I have a client who filed a Chapter 7 and got her discharge over a year ago. In her bankruptcy she listed Wells Fargo as a creditor and stated she wanted to reaffirm the debt. However, Wells Fargo never provided her with a Reaffirmation Agreement. Now, her credit report is showing her [...]

Sometimes Debtors are used to living a certain lifestyle, and then they have a reduction in pay. It is hard for them to understand that they cannot continue on with their current lifestyle based on the reduced income coming in. Debtors keep thinking something will change or they will get caught up next [...]

I had a client in here the other day, and I requested the address for her landlord since she is renting her house. She was reluctant to provide me the information and didn’t understand why I needed it. One of the Schedules that must be filed with the court lists any Executory Contracts [...]

When a Debtor decides to file a bankruptcy, regardless if it is a Chapter 7 or Chapter 13, they must provide pay stubs or profit and loss for the previous 6 months. If a Debtor is not working a regular job where they receive pay stubs, they need to fill out a profit a [...]

Today I had a client that came in to do their paperwork for a Chapter 13 bankruptcy. They have moved here from Colorado and they filed a Chapter 7 there in 2000. They have had some tough times, her husband was injured at work and has been out of work for over a [...]

Many clients contact our office to complain that the bankruptcy plan payments are making it impossible for them to meet their monthly household obligations such as utilities, rent/mortgage payments, auto payments, etc. My response to this complaint is that these monthly debts are all listed in their budget schedules and these calculations reflect they should [...]