Bankruptcy Blog Archives

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 [...]

This personal bankruptcy question was posted on the internet in 2011 in a bankruptcy discussion: “Collections is suing for my deceased husband’s bills, should I file bankruptcy?” The moment a debtor dies, the assets of the debtor becomes a part of the their estate until either a will has been probated or the state distributes [...]

Filing for bankruptcy protection can provide a financial fresh start, but a bankruptcy will be reported and remain on credit reports for up to 10 years. So, can a bankruptcy be removed from your credit report in less than 10 years? There are certain companies on the internet today that promise they can remove a [...]

The old Bankruptcy Code allowed student loans to be discharged if they were more than seven years old and met specific criteria. In light of the bankruptcy changes made under the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, the Bankruptcy Code has changed considerably. Under Title 11 USC 523, the law reads: “(a) A [...]

This question was posted recently on our bankruptcy forum: “Can a retained lawyer stop a judgement enforcement attempt before the actual bankruptcy is filed, and how much time between when an attorney is retained before the case must be filed? If you originally had credit card debt and it has been resold numerous times, must [...]

Many debtors realize that filing bankruptcy may be the only solution to their financial situation but how do you file bankruptcy if you do not have any money? The good news is that many bankruptcy lawyers offer a free consultation to their potential clients. Bankruptcy lawyers understand the bankruptcy process and can help you determine [...]

Student loans are difficult to discharge in bankruptcy, but contrary to popular belief, they are not entirely impossible. To have a student loan discharged, you must show that payment of the debt will impose an undue hardship on you and your dependents. Courts use different tests to evaluate whether a particular borrower has shown an [...]

A payday loan, also called a paycheck advance, is a small short-term loan that is intended to cover a borrower’s expenses until his or her next pay day. Payday lenders usually insist on direct withdrawals from your checking account to repay the loan. They are normally associated with high interest rates over a short period [...]

This personal bankruptcy question was posted on the internet in 2011 in a bankruptcy discussion: “I own a condo and owe approximately $13,000 in maintenance fees, will this debt be discharged by filing bankruptcy?” The simple answer to the question the blogger has raised is yes, it is possible. Unfortunately, with most bankruptcy laws, there [...]

The impact of filing a personal bankruptcy on your credit score is more than likely not going to be substantial. Most likely, you will have lost most of the credit rating before you ever file. The filing itself has little effect on your credit rating. What is more important than your score dropping after you [...]