If you're getting ready to file for bankruptcy, you can save yourself from sabotaging your case by being honest. Bankruptcy fraud is a serious federal offense with over 100,000 people committing the crime each year. According to the Internal Revenue Service (IRS), this translates to nearly 10 percent of bankruptcy filings done annually, having some [...]
A bankruptcy consultation is good opportunity to learn more about the filing process while learning whether it is the best option for you. This is the perfect time to ask questions, review concerns, and get clarity on how bankruptcy works. During the consultation, you will discuss your circumstances in further detail and review your options [...]
Chapter 13 bankruptcy can sometimes be a better option than Chapter 7 . Debtors may consider this option after negotiation attempts with their creditors fall through or when they need legal assistance in making payments they can afford. Questions that help determine if the process can help: What is Chapter 13 bankruptcy? Chapter 13 is court-approved [...]
Debtors have heard over and over again that student loan debt is not eligible for discharge, unless they meet standards related to undue hardship. But, a recent study reviewed student loan discharges in bankruptcy with 4 out of 10 people being successful at getting their debt eliminated. While this may not seem like much, it [...]
Former investment advisor Joseph Randall Medcalf, 56, of Fresno, CA pled guilty this week to three counts of mail fraud and one count of bankruptcy fraud. The counts stem from an investment scheme Medcalf ran for several years defrauding investors out of millions through offered investment "opportunities." When Medcalf pled guilty he admitted he carried [...]
Changing Your Address During Bankruptcy While being in an active bankruptcy case, you may receive correspondence information pertaining to proceedings in the mail. Therefore, any changes that occur should be reported to your bankruptcy trustee or attorney to maintain communication. Debtors should be sure to report any changes in contact information as they happen to [...]
Getting Repo'd After You Filed Bankruptcy If you've fallen behind on car loan payments, it's common to worry about your vehicle getting repossessed . Debtors who file for bankruptcy protection often do so when they fall behind on paying bills or are struggling to make ends meet while trying to pay for necessities each month. [...]
Video empire Girls Gone Wild (GGW) files for Chapter 11 bankruptcy after mounting debt and legal issues. The racy girls' video empire seeks protection while disputing multi-million dollar claims including a legal judgment of $10.3 million from Wynn Las Vegas, one of its biggest creditors. Joe Francis is behind Girls Gone Wild and its multiple [...]
Many consumers try to avoid bankruptcy mostly because of false misconceptions and a lack of understanding. While filing may have its pros and cons, it often depends on the situation of the individual. When considering bankruptcy it is important to get sufficient information that can help you make an educated decision about your finances. Get [...]
An important contributing factor in achieving a favorable outcome for your case includes having a good attorney. Choosing the right lawyer to work with during the process is a vital step, but with so many options it's easy to get overwhelmed and confused. Here are a few things to look for when finding an attorney: [...]