Considering bankruptcy? Below is a checklist of the things you should consider to determine whether or not bankruptcy is the right choice for you: Will bankruptcy make a significant difference in your financial situation? If you're facing foreclosure or creditor lawsuits on a significant amount of debt, then filing bankruptcy may be right for you. [...]
For post-bankruptcy debtors, the time after bankruptcy is an opportunity to rebuild their credit. But unfortunately there are many schemes out there designed to exploit post-bankruptcy debtors and others who may have no or poor credit histories. One of the most vulnerable places where the post-bankruptcy debtor finds trouble is when attempting to finance a [...]
One of the most unfortunate facts about why some debtors delay or totally forgo filing a necessary bankruptcy is the cost and their perceived inability to afford that cost. Yes, it is completely understandable that a debtor who can't afford to pay their mortgage may not be able to easily afford the fees associated with [...]
When debtors are facing financial trouble they are usually in denial about it for a long time. And when they finally face up to the facts of their financial predicament it is often three to four years after they should have considered bankruptcy. To avoid this type of problems, below are four signs that you [...]
When a debtor files bankruptcy, they may need to disclose the income and assets of the non-filing spouse. For example, if the debtor is taking the Means Test , the income and assets of the non-filing spouse may be important to determining if they qualify for Chapter 7 bankruptcy or if they must file Chapter [...]
When filing for bankruptcy, a debtor may be confronted with terms that they may not understand. Below a few bankruptcy related terms that every debtor should know: Chapter 7 bankruptcy - A form of personal bankruptcy that will result in the discharge of all or most of the debtor's unsecured debt. Some companies who do [...]
It's always interesting to hear how some opponents to bankruptcy claim that bankruptcy debtors are irresponsible and trying to avoid their debts when so many debtors actually want to repay their debts even after bankruptcy, despite doing so being a huge mistake. Many debtors mistakenly feel guilty about filing bankruptcy and in their attempts to [...]
An unfortunate reality of politics' proclivity towards mudslinging and public manipulation, the use of shaming a political opponent because of their past bankruptcy filing is happening again, not in Texas; but just two states over in Arizona. In a bid for the position of attorney general, opponent Andrew Thomas is accusing Tom Horne of filing [...]
Liens on Personal Property During Bankruptcy One of the many drawbacks of ignoring unpaid debt is that creditors eventually file a lawsuit against the debtor and if these lawsuits are also ignored they can turn into judgments and then dreaded liens against personal property. It is when a debtor trying to sale their home is [...]
Municipal bankruptcy, also known as Chapter 9 bankruptcy is being considered by at least five U.S. cities. Municipalities are finding that their coffers have become thin after being battered by the foreclosure crisis, credit crisis, unemployment crisis and a tsunami of corporate bankruptcy filings and cutbacks. Chapter 9 bankruptcy offers municipalities the opportunity and power [...]