Many clients who come to us for assistance with filing a bankruptcy case ask if they can still short sale their home after their Chapter 7 is over. The answer is typically “yes,” but the better question is whether it is a good idea to do so. The first step is to understand how the...Read More
When you file a Chapter 13 case, you submit a repayment plan that lasts three to five years. A lot can happen during this time that impacts your finances. What can you do if unforeseen financial issues prevent you from being able to afford your monthly Chapter 13 plan payments? One option to consider is...Read More
Amendments to the Bankruptcy Code were made in 2005 and one of the most significant additions to the law was the requirement of a debtor to pass the “means test” to be eligible to file a Chapter 7 bankruptcy. The means test is a calculation used by the bankruptcy courts to verify that a debtor is...Read More
When hard times hit and you are unable to pay your bills, it doesn’t take long for creditors to start pursuing you for payment. After a few demand letters and telephone calls, many creditors file collection lawsuits. We understand that this can feel overwhelming and we want to help. Depending on your individual financial situation,...Read More
The primary goal of filing a personal bankruptcy is to eliminate debt or obtain a “discharge of debt.” What is a discharge order? A discharge order cancels your liability to repay the debt. As a result, many people save thousands of dollars by filing a Chapter 7 or Chapter 13 case, which is often referred...Read More
Married couples have a very important decision to make when filing for bankruptcy protection — should both spouses file or just one of them? There are many factors that must be considered in making this decision. Should Married Couples File Bankruptcy Separate or Together? Debt One of the most cruical factors to consider is whether...Read More
If you have filed a personal bankruptcy in the past and you are considering filing another case, it is critical that you obtain the advice and guidance of a seasoned bankruptcy attorney. Consequences for Serial Bankruptcy Filers Serial filers can face severe consequences; including the impact prior bankruptcies have on the automatic stay. If you...Read More
Studies have shown that arguments over money play a major role in why couples divorce. Financial stress can be overwhelming The stress of not being able to make ends meet can be overwhelming. Even happily married couples begin to feel the strain when a job is lost, medical bills accumulate or other financial troubles occur....Read More
Unfortunately, divorce and bankruptcy seem to go hand-in-hand. Finances are a leading contributor to divorce Financial stress is a leading contributor to many divorces. If you are facing this situation, you are likely wondering if you should file bankruptcy before you file for divorce or vice-versa. The answer depends on your unique situation. If you...Read More
If you have filed for bankruptcy protection under Chapter 13, you have committed to making monthly payments to the trust to fund your repayment plan. How long does a chapter 13 bankruptcy last? A Chapter 13 plan lasts for three to five years, so many changes in your life can occur during this time. What...Read More
