Posts Tagged ‘Bankruptcy’

Medical Bills May Surpass Credit Card and Mortgage Debt as Leading Cause of Bankruptcy

March 27th, 2014 by Reed Allmand

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A recent study continues to confirm one of most leading causes of consumer bankruptcy: medical bills. Yet, the study also brought to light other significant points that may hint medical bills may become the number one reason why bankruptcy is filed.  Unpaid medical bills may surpass mortgage debt and credit card debt for various reasons, […]

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Getting Rid of Back Taxes in Bankruptcy and What You Should Know

March 10th, 2014 by Reed Allmand

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Bankruptcy can help you eliminate back income taxes depending on your situation and qualifications. You can file Chapter 7 bankruptcy to discharge tax debt that qualifies under the bankruptcy code. If your debt does not meet these qualifications, you may consider Chapter 13 bankruptcy to help you repay what you owe based on your income […]

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7 Bankruptcy Mistakes to Avoid

February 21st, 2014 by Reed Allmand

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Being honest when you file bankruptcy can help you avoid making mistakes that lead to bumps in the road as the case proceeds. Bankruptcy is a privilege that deserves your cooperative attention while working with the court to ensure you get a favorable result. The following points are a few common mistakes made by debtors […]

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What You Should Know about Tax Refunds and Bankruptcy

February 14th, 2014 by Reed Allmand

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Tax season often raises questions about what will happen to a tax refund if bankruptcy is filed.  This can be the best time to discuss your questions and concerns with an experienced bankruptcy attorney. In many cases it is about timing depending on your unique situation. It may be best for you to postpone your […]

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Deciding to File a Personal Bankruptcy as a Business Owner

January 31st, 2014 by Reed Allmand

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With the economy still struggling to bounce back, many people have decided to start their own business when they were unable to gain employment. Having an entrepreneurial attitude during an economic downturn can be beneficial with proper planning.  Yet, even self-employed individuals and those with a business run into financial problems and wonder if bankruptcy […]

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How Bankruptcy Can Be Used as a Financial Planning Tool

January 30th, 2014 by Reed Allmand

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Filing for bankruptcy doesn’t have to mean you’ve given up on your finances. You don’t have to keep struggling in figuring out how you will meet necessary financial obligations month after month.  Chapter 7 bankruptcy can help you wipe out debts while Chapter 13 bankruptcy can help you pay them with an affordable repayment plan. […]

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Understanding the Bankruptcy Petition

January 27th, 2014 by Reed Allmand

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What is a bankruptcy petition? This is known as a formal application that plays a significant role in how your financial situation is communicated and reviewed by the bankruptcy court. This is lengthy documentation that includes information the court needs to know while allowing you to present your case.  It acts as a written request […]

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How Bankruptcy Can Help if You Received a Judgment from a Creditor

January 17th, 2014 by Reed Allmand

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What happens when a creditor has a judgment against you? Some debtors make the mistake of ignoring the summons and experience a rude awakening when their wages or their bank account gets garnished.  You have a certain amount of time to answer the judgment before further legal action is taken against you.  If you fail […]

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Choosing a Bankruptcy Attorney: Characteristics of Quality Representation

January 10th, 2014 by Reed Allmand

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Getting the outcome you deserve for your financial situation includes having the right legal representation in your corner.  Taking time to choose a good bankruptcy attorney may save you headache and frustration down the road.  Debtors have been known to choose an attorney based on an advertisement, price or claims in what they say you […]

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Common Mistakes Made When Filing Bankruptcy Pro Se

January 9th, 2014 by Reed Allmand

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One of the reasons why debtors are highly encouraged to seek legal representation when filing bankruptcy is to ensure their case goes through the system in a proper manner while avoiding common pitfalls.  Filing on your own may seem simple enough  when you are able to download documents online, but many have no idea what […]

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FAQ

Why do I need to submit a new wage order when I modify my plan

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.  

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What happens if the stay terminates on my home?

If 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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