Redeeming Your Property After you Have Filed Bankruptcy One common mistake is believing that a bankruptcy will erase all of your debts and you'll be left with all the stuff you purchased free and clear. This is part of the reason people have bad feelings about people who file bankruptcy and it's totally not true. [...]

Bankruptcy and Your Children's College Tuition After a debtor's Chapter 7 bankruptcy case is discharged, they can conceivably pay for anything they like. However, the problems of paying for a adult child's college education usually presents itself in Chapter 13 bankruptcy or when the debtor takes the means test to determine their eligibility for Chapter [...]

In a recent Chapter 7 bankruptcy, the bankruptcy court challenged the debtor who transferred a property into a trust within two years prior to filing bankruptcy.  The bankruptcy court ruled that the transfer of the property was fraudulent because the debtor did not receive equivalent value for the transfer. The Details of the Bankruptcy Case [...]

Why You Should Avoid Payroll Debit Cards Paying low-wage workers with debit cards instead of checks is becoming more commonplace. Nationwide 1.7 million workers are paid with debit cards; but that number is expected to increase to 5.4 million by 2014.  The increase in payroll debit card usage has prompted several states to propose legislation [...]

Can Teachers be Fired for Filing Bankruptcy? Downward pressure on teachers' wages is pushing many educators into bankruptcy. While a teacher cannot be fired from their job because of bankruptcy, there are some aspects of a teacher's job that can impact their bankruptcy case. Let's take a look at the most important aspect of a [...]

There are many myths and misconceptions about bankruptcy. While some would hope that these myths were harmless, the fact is that many of these untruths are terribly harmful to debtors. Let's take a look at some of these myths so we can get to the truth of the matter:Myth #1 - Bankruptcy Is For The [...]

If you're considering bankruptcy, then you probably already know that debtors are required to take a credit counseling course within 180 days of filing bankruptcy and before they can receive their discharge. The credit counseling course will cover basic budgeting topics, how to manage debt and other tips on how to avoid a future bankruptcy [...]

The debate about the payday lending industry has come into sharp focus again as the Consumer Financial Protection Bureau begins to get its legs. But one of the often missed points is that many debtors take out short-term, high interest payday loans because they simply don't feel they have an alternative.  Because of our reluctance [...]

How the Bankruptcy Discharge Works The bankruptcy discharge is the most powerful tool available to debtors.  The bankruptcy discharge in essence is debt forgiveness and that forgiveness applies to mostly unsecured debts. Let's take a closer look at how the bankruptcy discharge works: Debts Forgiven In Chapter 7 and Chapter 13 Bankruptcy Many debtors don't [...]

We've talked a lot about rebuilding credit after bankruptcy; but building a substantial and adequate nest egg after bankruptcy is just as important. But how can debtors' exiting bankruptcy find financial strategies which will create stability now and in the future? Let's take a look at a few tips: 1. Get a long-term financial vision [...]