I have a secret: not everyone needs a bankruptcy lawyer. If you have nothing but credit card debts, live alone, don’t own any property of significant value, and are willing to wade through the rules and forms necessary to file a Chapter 7 bankruptcy petition, then you can probably tackle the bankruptcy process on your…Read more
Should I Use a Credit Repair Company?
Yesterday, I had a consultation with a potential client. She had racked up about $50,000 in unsecured debt and could no longer pay her bills. Given her financial situation, I told her that I thought that bankruptcy was a good option for her, and I look forward to helping her through the bankruptcy process. But…Read more
What Happens If I File Bankruptcy After Someone Has Gotten Judgment Against Me?
Filing Bankruptcy After Someone Gets Judgment Sometimes, I’ll get a client who can read the writing on the wall. She realizes that very soon she won’t be able to pay her bills. Instead of putting her head in the sand, she decides to short circuit collection efforts against her and file bankruptcy. While bankruptcy should…Read more
When Should I File Bankruptcy?
When a potential client comes into my office, my objective is to get a complete picture of their financial situation and give them my opinion about what their best option is. Sometimes bankruptcy isn’t something I recommend. If a potential client tells me any of the following things are happening, I tell them I think…Read more
When is Bankruptcy a Bad Idea?
I never meet with a potential client with the objective of trying to get him or her to pay me to help with their bankruptcy. My main objective during an initial consultation is to find out if bankruptcy is the best option to take care of their financial problems. Sometimes it isn’t, and I don’t…Read more
Should I Reaffirm a Credit Card Debt in Bankruptcy?
I have never counseled a client to reaffirm a credit card debt. Unlike a loan for a car, where you are trying to keep the car, credit cards are typically unsecured debts, and there won’t be any collateral that you’ll want to keep. Reaffirming a debt means that you will pay bills that bankruptcy would…Read more
Can I Change My Mind After I Reaffirm a Debt in Bankruptcy?
Yes. You can cancel any reaffirmation agreement for sixty days after it is filed with the court. You can also cancel at any time before the discharge order. To cancel a reaffirmation agreement, you must notify the creditor in writing. You do not have to give a reason. Once you have canceled, the creditor must…Read more
What is a Discharge in Bankruptcy?
A discharge order issued by the bankruptcy court permanently prohibits creditors from taking action against a debtor personally to collect debts incurred before the filing of the bankruptcy petition. The discharge does not prevent secured creditors from seizing collateral if payments are not kept up. The discharge does not prevent collection of debts incurred after…Read more
What Happens If I Pay Off Just One of My Creditors Before I File Bankruptcy?
You may find yourself in the position of having many creditors hounding you to pay off your debts, and it may be tempting to agree to pay off one of them. This could be especially true if the person you’re paying off is a family member. If you decide to payoff a loan from a…Read more
Can I Be Evicted if I File Bankruptcy?
One of the first questions I ask a potential client is whether she owns or rents her home. If she rents, I’ll ask her if she is up to date on her rent. If she’s behind on her rent, I’ll want to know if she’s been served with an eviction lawsuit. The second your bankruptcy…Read more
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