Bankruptcy Blog

In the United States, many of us are taught failure is not an option. And when it comes to financial difficulties, bankruptcy seems to be a major failure. However, financial disasters can happen to anyone and many times from situations beyond our control. You may now find yourself dealing with creditor calls, collection notices, [...]

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 [...]

If the need to file a bankruptcy is coming, There are a few things that need to be avoided if possible. Don’t transfer property out of your name to family member. If you do that the trustee has the right to go to that person and take the idem anyway. Don’t charge up the credit [...]