Bankruptcy Blog Archives

These are just a few things that people should not do before filing a bankruptcy. The first, which I hear of quite often, is running up one’s credit card. In doing so, you will not only have to pay it back, but the trustee may decide to deny you a discharge as well. I had [...]

There are advantages and disadvantages for the different types of bankruptcy you might want to file once you determine the need to file bankruptcy. Here are 7 great reasons you might want to file a Chapter 13 in lieu of any other type of bankruptcy. Reason #1. To Save You Home from Foreclosure Once you [...]

The Grinch Who Stole Christmas Being bankrupt this time of year must seem a whole lot like the Grinch Who Stole Christmas, but if you stop to think about it, it really doesn’t have to be that way to those who believe. The Hope for Forgiveness and Better Times To the Christian who celebrates Christmas, [...]

A Chapter 13 bankruptcy is commonly called a wage earner’s plan. It is a type of bankruptcy most individuals can file requiring you to design a pay back plan with your disposable monthly income to pay your unsecured creditors. During the plan, all secured debts will be expected to be paid on time and up [...]

Many of you who are needing to file bankruptcy sometimes come into a small financial windfall in the form of an inheritance. What are your options on inheritance before filing bankruptcy? To help you understand your options if you suddenly come into an inheritance and are considering bankruptcy, lets assume you shared an inheritance with [...]

If you are considering filing bankruptcy and you are married, you should know that you do not both have to file bankruptcy.  One or both of you may file bankruptcy, depending on the nature of the debt issues you are attempting to address through the bankruptcy.  The information that follows applies whether you are filing [...]

There is an ironical freeway exit sign making its way through the internet that says Bankruptcy Next Exit. The sign warns us of the financial difficulties which may be happening down the highway of life. Bankruptcy can happen to any one of us regardless of our station in life. Although bankruptcies are declining in the [...]

There are two basic types of student loans- government and private. Can you receive either type of student loan after filing for bankruptcy? The long answer to the question is that government loans are based on need rather than credit, whereas, a private loan is usually given based on credit. That means, theoretically, once you [...]

This personal bankruptcy question was posted on the internet in 2011 in a bankruptcy discussion: “How can you file bankruptcy if all your assets and business assets are in a trust for your children?” Here, a debtor who obviously has placed all of their assets in a trust fund for their children wants to know [...]

Debt can be a wonderful thing when used properly.  Living in society today can be expensive, so debt can be a useful tool to allow you to afford a home, cars, and other necessities of life.  However, debt can also make life more difficult if it is not used properly.  One area where debt is [...]