Can I Cancel My Contract With A Debt Settlement Company?
More and more frequently, we are finding that some debtors with whom we meet, have already hired a debt settlement company to attempt to resolve their debt issues, prior to coming in to meet with us. The debt settlement companies advertise that they can settle with credit card companies for a fraction of the debt […]
Do I Have To Take The Credit Counselling Course Before I File A Bankruptcy Petition?
Since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, before a debtor files for bankruptcy relief in Chapter 7 or Chapter 13, they are required to take a credit counseling course. See 11 U.S.C. § 109(h). Without a certificate that shows that the debtor completed the course, their case will […]
How Will Bankruptcy Affect My Job?
When filing bankruptcy many people wonder – how bankruptcy will affect my job? The short answer to this is that in most cases bankruptcy will not affect your current job and in many cases your current employer won’t even be aware of your situation. Will I Lose My Job for Filing Bankruptcy? Under 11 U.S.C. […]
What Are The Tax Consequences Of A Short Sale?
As we experience the ongoing fallout from the 2008 financial crisis, some homeowners continue to be in the position that they are unable to afford their mortgage payments and they owe more on their loan than the value of their homes. Facing a foreclosure can be an extremely traumatic experience. One way a homeowner can […]
Why You Must NOT Ignore A Debt Collection Lawsuit
Have you received a notification or summons regarding a debt collection lawsuit for credit card or other debt? A lawsuit will not go away if you simply ignore it and it could lead to dire consequences to your finances and credit rating. Ignoring a debt collection lawsuit will typically result in a default judgment against […]
Protect Your Retirement Assets By Filing For Bankruptcy
If you are retired (or approaching retirement age), you do not want to have ask yourself this question: “Should I dip into my retirement account to help pay off my credit card or other debts?” When faced with this question, many Americans are too quick to withdraw money from an IRA or other retirement account […]
When Should You Consider Filing for Bankruptcy?
If you have been struggling financially, how do you know when it is time to consider filing for bankruptcy? The first thing to do is to take a step back and assess your financial situation. The first thing we recommend is to conduct a review of your household budget. Carefully compare your true typical monthly […]
The Federal Wildcard Exemption
In a bankruptcy case, the property of the debtor is classified in one of two ways: exempt property and non-exempt property. Exempt property is the property the debtor is allowed to keep, while non-exempt property can potentially be liquidated and distributed to creditors. There are exemptions for a wide variety of personal property of the […]