Category Archives: Common questions

Chapter 7 bankruptcy and why it could be a mistake

Recently on our bankruptcy forum a user asked, “I have thousands of dollars of unsecured debt. I have talked to several people who tout the benefits of filing Chapter 7 bankruptcy. I know, however, that it cannot be all good. I need to know more about the downsides of filing Chapter 7 and whether it’s actually a good choice for me.”

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Steps to avoid a filing a second bankruptcy

Recently on our legal forum a user asked, “I have filed bankruptcy in the past. I am sorry to say, however, that I seem to have gotten myself in another financial crisis. I don’t want to have to file a second bankruptcy, but I am at a loss as to my next steps. Do you have any advice for me to avoid filing bankruptcy a second time?”

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Debt collection top things to know

Recently on our legal forum a user asked, “I owe thousands of dollars to different credit card companies. I also have $50,000 of medical debt. I think the debt must have been sold to a third part debt collector because the debt collection calls have become relentless. I cannot answer the phone anymore. I am really scared. I want my life back. Can you help me?”

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Top 5 tips for saving money and improving your life

Recently on our forum a user asked, “I find myself on the brink of financial disaster for the second time in my life. I am only thirty years old. I have a decent paying job. I am at a loss. I am wondering if you can give me any tips for saving money and re-establishing financial control before I have to declare bankruptcy a second time.”

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Can DUI injury settlement be discharged in Chapter 7?

Recently on our legal forum a user asked, “I was arrested in 2015 and charged with driving under the influence (DUI). I injured the other driver severely. We live in Texas, and the driver filed a personal injury claim and sued me. I lost the case and now have to pay a DUI injury settlement worth $20,000. I am wondering if I have the legal right to discharge the personal injury settlement by filing a Chapter 7 bankruptcy?”

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Loan modification what do I need to know?

Recently on our legal forum a user asked, “My wife and I are not currently employed. We are about to lose our home. I keep reading that we might be able to renegotiate the terms of a mortgage with our lender. I think this is referred to as a loan modification. Can you tell me more about this process and what I need to do?”

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Emergency fund do I really need one?

Recently on our bankruptcy forum a user asked, “I have heard for years that I need a three to six-month emergency fund which can cover my living expenses., I have very high student loan debts, a $10,000 credit card bill and secured assets which are costing me a great deal of money. What are your thoughts? Should I pay off my debt or start to save for my emergency fund?”

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