Bankruptcy Blog

Bankruptcy is still a frightening and embarrassing situation for many people. The dictionary doesn’t help when it gives definitions like: “utter ruin, failure, depletion”. No wonder so many people won’t consider bankruptcy until it’s the last resort.
What is bankruptcy?
Simply put it’s “being legally insolvent” or an “inability to discharge all your debts as they […]

Financial difficulties can happen to anyone at anytime. Just because you are in trouble, doesn’t mean you’re a bad person. You’re just in a bad situation.

Taking a debt education course before the filing of a bankruptcy is required by law. This doesn’t mean you have to pay A company money to try and settle or make payments to and let them pay your creditors. In most cases the course that takes is an on line course 1 to 2 […]

Many people may not need to worry about what effects of selling a house could have when they file for a Chapter 7 bankruptcy, but recently I had a Chapter 7 Debtor who did sell her house within the last 6 months. We had to include the proceeds she received in her pocket to […]

A lady came in a year ago she was making over one hundred thousand dollars a year, had a home in Georgia and one in Texas, Texas being her home. The job ended so she started looking for another job in Georgia and Texas. The severance package ran out with her making both house payments […]

When you come in to file a Chapter 7 bankruptcy, it is very important that you have all of your pay stubs for the last 6 months. Failure to have these pay stubs, will result in the delay of your case being filed. The importance of the pay stubs in a Chapter 7 […]

In the year 2003 he made a little over 300 hundred thousand dollars. At the moment he is on VA disability of 1200 a month and waiting on Social Security Disability.
During the last couple of years He has used up all retirement money to keep up with all the bills house, car, and credit […]

Decisions need to be made based on the income you have coming in now. A bankruptcy can discharge the credit cards and medical bills, but will not lower house payments. If the house payment has gone up because of the type of loan you have or because of the income change the house might need […]

I meet with many clients before they file bankruptcy. After I explain the basics of bankruptcy and discuss what would be best for them based on their situation, I ask if they have any questions. I often get the same response of “I don’t even know what to ask.” This is a […]

If you are considering filing for bankruptcy there are a few things you can do ahead of time to make the process easier on you. The first thing you can do is make sure that you have filed all the necessary tax returns. The only years it is acceptable to not file are years that […]