Once you’ve decided that bankruptcy is the right solution for your financial situation, you will need to decide which type of bankruptcy is most beneficial. While there are many different “flavors” of bankruptcy available, the two chapters that apply to most consumers are Chapter 7 and Chapter 13. Choosing the Right Type of Bankruptcy In […]
Bankruptcy is one area of the law that can reach far and wide and can impact numerous other areas of law. It is not uncommon for a bankruptcy client to also have another lawsuit ongoing in which they are the plaintiff. While clients are allowed to proceed against other parties while in a case, they […]
One of the most nerve-wracking parts of filing Chapter 7 bankruptcy is the 341 hearing (even though this is actually an administrative hearing and nothing like a scene from Law & Order!). Once your hearing has been concluded, what’s next? Our firm makes it a point to not only provide our clients with a “to […]
One of the first questions I always ask my clients is are you an authorized user on anyone’s account or vice versa. Why? Although legally, an authorized user is NOT responsible for the credit card balances on the account, too many times we have seem errors arise from the “Big 3” three credit reporting agencies […]
A very common situation that arises for our clients is the need to finance a car while still in a Chapter 13 repayment plan. During the three to five years that you’re making payments on your Chapter 13 bankruptcy case you can’t incur any new debt without getting permission from the bankruptcy court. Many times, clients […]
Whenever I do a new client consultation one of the first things I do is explain the difference between Chapter 13 and Chapter 7. While the United States Bankruptcy Code provides for six distinct chapters of bankruptcy: Chapters 7, 9, 11, 12, 13 and 15, the two chapters that deal with an individual filing bankruptcy […]
After a bankruptcy petition is filed, the Court will schedule a Creditors Meeting under Rule 341 of the Bankruptcy Code. While your creditors may appear, generally only the Trustee is present to ask you questions about your petition and decision to file bankruptcy. This examination is under oath and you should review your petition and […]
Our firm works with many older clients who are facing both retirement and overwhelming debt. Does it ever make sense for retirees to go bankrupt? For many seniors yes, but before you file that case you need to take into consideration a few points. If you don’t have any assets: 1. Stop paying your creditors. […]
These days, most people I know don’t have a financial plan. We spend a lot of time planning for other aspects of our lives, such as our careers, marriages and having kids, but many of us fail to build a plan to achieve our financial goals. Checklists are great, especially when it comes to finances. […]
For centuries, people have bought into the popular (and false) belief that possession—material wealth and stature—was synonymous with happiness. But now minimalism is on the rise, and for good reason: it works. If you’ve gotten to the point that you’re constantly stressed due to overwhelming debt then one of the first things you then you might […]
