Abandoned Property In Bankruptcy When a debtor files bankruptcy, all of their property becomes part of the bankruptcy estate. The bankruptcy estate is basically a structure which takes ownership of all property (not physical ownership in most cases) and then liquidates any property it has a right to liquidate. When filing bankruptcy, the debtor works [...]
Logic says that most lenders would be more than willing to negotiate debt settlements with debtors in this time of economic turmoil; but the reality shows something different. Instead of becoming more reasonable, many lenders are becoming less reasonable and more desperate as more debtors fall into the trap of unemployment. Many of these debts [...]
Post-Filing Communication From Creditors After Bankruptcy Generally speaking, creditors do not have the right to contact a debtor after they have filed bankruptcy. Once the creditor has received notice of a debtor's bankruptcy filing they are barred from contacting the debtor or attempting to collect on any debt owed. However, there is a gray area [...]
When it comes to covering massive amounts of bills or finding the funds for financial emergencies, many people turn to loans, rather than filing for bankruptcy. Thanks to the negative stigmas surrounding bankruptcy, many people avoid it - and that often is to the detriment of their financial freedom. You may think you can afford [...]
Harrisburg, Pennsylvania tried to join the growing number of municipalities who have exercised their right to file Chapter 9 bankruptcy; but now they face legal challenges by the state. Seeing that the city was poised to file bankruptcy, the governor and state legislature designed a law to stop Harrisburg, now they want a U.S. bankruptcy [...]
Are you getting what you paid for when you decided to file bankruptcy? Don't look now, but your bankruptcy attorney may be robbing you blind. When it comes to filing for bankruptcy, too many of us look at them like a visit to the dentist: it's painful and complicated - but sometimes a very necessary part [...]
If a debtor is filing Chapter 7 bankruptcy and wants to keep property that has a loan attached to it, they may want to consider a reaffirmation agreement. However, there are a lot of things about reaffirmation agreements that debtor's either don't know or don't understand. And because reaffirmation agreements are binding after the bankruptcy [...]
Thinking About Using A Bankruptcy Petition Preparer? Many debtors believe they can't afford to file bankruptcy; but at the same time they know that without bankruptcy they won't have the power to protect their income and assets from aggressive creditors. Unfortunately, the solution they come up with is to take shortcuts. One of these shortcuts [...]
When it comes to the motivation behind applying for a Dallas bankruptcy (be it a Chapter 7, 11 or 13 bankruptcy), there are financial dry spells - and then there are financial emergencies. And unless you can tell the difference between the two, then you put yourself - and your finances - at risk for some [...]
Refinancing a Mortgage After Bankruptcy 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 [...]