January 18th, 2012 by Reed Allmand 
It’s safe to say that filing for bankruptcy is one of the few times in your life when you’ll expose every financial detail about yourself. From credit reports to tax returns, no financial stone will be left unturned – and that can lead to some startling discoveries regarding potential identity theft. Identify theft is rife, [...]
More...January 16th, 2012 by Reed Allmand
After declaring Chapter 7 or Chapter 13 bankruptcy, you might feel tempted to shun your financials for a little while. After all, you’ve probably spent months staring at financial statements and bills with your bankruptcy lawyer – and the last thing you want to do is look at more! However, if you want to engage [...]
More...December 6th, 2011 by Reed Allmand
Within a year or two after receiving a bankruptcy discharge, many debtors can refinance their mortgages under certain circumstances. Let’s take a look at a few qualities mortgage lenders look for in post-bankruptcy debtors: Payment History Mortgage lenders want to see at least 12 consecutive months of on-time mortgage payments before they are willing to [...]
More...November 16th, 2011 by Reed Allmand
After filing bankruptcy, there’s no denying that you’ll need to learn new financial habits, such as smarter saving and spending techniques. You also know that buying much-needed products during a sale will inevitability help to plug up wasteful spending and help you put more money towards your savings. But sales often occur at random times, [...]
More...October 20th, 2011 by Reed Allmand
Rebuilding your finances after bankruptcy might seem like an impossible task. After all, once you have the mark of bankruptcy on your credit score, there’s no way you can enjoy a healthy financial life again – right? Actually, while your credit score after a bankruptcy might be at an all-time low, it’s a surprisingly ideal [...]
More...October 19th, 2011 by Reed Allmand
Many homeowners in bankruptcy have underwater mortgages along with home equity lines of credit (HELOCs) which may be dischargeable. But what happens if after exiting bankruptcy a debtor fails to pay his/her HELOC? Let’s take a look at a few facts: Legal Responsibility A debtor’s legal responsibility for HELOCs after bankruptcy is determined by one [...]
More...September 12th, 2011 by Reed Allmand
Elderly Americans have been hit hard by the recession. Falling home values, depreciating retirement accounts and shrinking pensions have conspired to place many senior citizens in financial troubles which are often only relieved by bankruptcy. Many senior citizens hit by the contraction of the economy are finding it difficult, if not impossible to pay credit [...]
More...August 29th, 2011 by Reed Allmand
Due to the lack of conventional credit access right after your bankruptcy discharge, you may be tempted to take on short-term loans with high interest rates. Most post-bankruptcy debtors already know about the dangers of predatory payday loans; but what about the new and “improved” versions of payday loans offered by traditional banks? Many banks [...]
More...August 26th, 2011 by Reed Allmand
Depending on the type of debt you owe, some debts might survive the bankruptcy discharge. In both Chapter 7 bankruptcy and Chapter 13 bankruptcy some unsecured debts may be discharged but secured and nondischargeable debts may still exist after your case is closed. Below are a list of some debts that may survive the bankruptcy [...]
More...August 23rd, 2011 by Reed Allmand
When a debtor files Chapter 7 bankruptcy, a bankruptcy estate is created. The bankruptcy estate is made up of all the debtor’s assets, even those assets which may be later declared exempt. The bankruptcy debtor is not allowed to liquidate any assets in the bankruptcy estate and doing so could end in a denial of [...]
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If you have been unemployed for a while, you may be thinking about making a career change or seeking self-unemployment. Keep in mind, some state programs are not eligible for those who are self-employed but some states may allow you to collect unemployment benefits while working toward self-employment. You’ll have to review rules and requirements [...]
An offer in compromise lets taxpayers settle tax debt for less than the original amount that is due. While the paperwork for the process can be obtained by the taxpayer who is seeking to apply, it has been recommended to work with a tax expert during the process. There are rules and requirements that need [...]
The bankruptcy process may seem challenging depending on personal circumstances and which chapter is filed. It is often wondered what happens when a co-signer files for bankruptcy protection. In many cases, a co-signer situation makes both parties responsible for outstanding debt. If the account in question goes into default, either party can be pursued by [...]
When we modify your bankruptcy plan we are changing your plan payments. This means that we have to get with your employer and change the terms and amount of your wage order. The only way we can do that is by filling out a new wage order form.
Learn MoreIf the bankruptcy stay terminates on your home that means that even though your in bankruptcy, your creditor can pursue all there legal remedies they can pursue if you were not in bankruptcy. This includes foreclosure, and having your house sold and evicting you from your house.
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