Category Archives: bankruptcy
Bankruptcy and Divorce
Financial problems are often a complication that may have added to the stressful causes of a divorce. Divorcing couples who are deeply in debt may wonder whether they should file for bankruptcy before or after they dissolve their marriage. There is no “one size fits all” answer because there are so many factors that… Read More »
Can Trustees Go After Children’s College Tuition Payments?
A recent trend in bankruptcy law is for trustees, the individuals responsible for collecting money for creditors, to go after tuition payments parents made to their children’s undergraduate institutions. As the trustees see it, the funds parents sent to those institutions should have instead been used to pay off the parents’ debt. Since 2008,… Read More »
Is it necessary to file for bankruptcy?
Whether or not you must file for bankruptcy depends on your situation. If your get behind in your credit card debt or other unsecured debt then the creditor can sue you to get a judgment against you for the amount of the debt, plus interest, penalties and attorney fees. You will know when you… Read More »
Financial Hardship and Bankruptcy: Don’t use exempt from creditor assets to pay current debts.
Financial hardship can occur at anytime. No matter how secure your financial situation may presently be, you never know what the future may bring. Job security is an oxymoron. Your position may become outdated because of new technology, your position may be outsourced overseas, or the company you work for may suffer its own… Read More »
Student Debt and a Push for Fairness
Student Debt and a Push for Fairness By RON LIEBER Published: June 4, 2010 at http://bankruptcy.lawyers.com/consumer-bankruptcy/Student-Loans-In-Bankruptcy.html If you run up big credit card bills buying a new home theater system and can’t pay it off after a few years, bankruptcy judges can get rid of the debt. They may even erase loans from a… Read More »
Mortgage Loans Discharged In Chapter 7 Bankruptcy
Mortgage loans can be discharged in Chapter 7 bankruptcy proceedings so that homeowners no longer have to worry about paying an expensive loan when their income has dropped. But with a discharge, the owners will not be able to keep their house, as the bank will receive the collateral back as a result of… Read More »
Are people who file for bankruptcy “using the system”?
As a bankruptcy attorney, I was asked by a criminal law attorney whether I thought people were acquiring debt with the intention of discharging it in bankruptcy. I assured this attorney that this was NOT the case. The overwhelming majority of clients we have had and have are devastated by having to file for… Read More »
Beware of Foreclosure Rescue Scams. Help is Free!
There is never a fee to get assistance or information about the Making Home Affordable program from your lender or a HUD-approved housing counselor. For a HUD-approved counselor, visit: http://www.hud.gov/offices/hsq/sfh/hcc/fc Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent… Read More »
Reasons to Delay or Speed Up Your Bankruptcy Filing
There are many factors to consider when deciding when you should file for bankruptcy. Here are a few common reasons for delaying or speeding up a bankruptcy filing. Reasons to Delay a Bankruptcy Filing Your income recently decreased. One good reason to delay a filing is if your income over the last six months… Read More »
