Make Paying Credit Card Debt a Low Priority in Rough Financial Times
Should I Pay My Credit Card Bills? The economic downturn caused people from all walks of life to turn to their credit cards as a life raft, hoping they could keep bills current with the plastic until a new job came around. Thankfully, sometimes that new job does pop up and the credit card bills…Read more
How to Screw Up Your Bankruptcy Discharge
Last updated Oct. 30, 2017. In the vast majority of cases, the bankruptcy discharge is the primary reason debtors enter the Bankruptcy Court. After all, people file bankruptcy to get rid of debt, and a federal court order is certainly an effective way of making this happen. However, receiving a bankruptcy discharge is not guaranteed,…Read more
Wage Garnishment Must Stop After a Bankruptcy Case is Filed; You Might Even be Able to Get Money Back
Bankruptcy Stops Wage Garnishment The minute a bankruptcy cases filed, an injunction called the automatic stay is issued, which prohibits creditors from trying to collect on debts that were included in the bankruptcy. The Ninth Circuit Court of Appeals has called the automatic stay “one of the most important protections in bankruptcy law.” The automatic…Read more
I’ve Found A New Job, Will I Still Be Able To File For Bankruptcy?
Does a regular paycheck disqualify a consumer from filing for chapter 7 bankruptcy? If you’ve been researching your bankruptcy options, you’ve likely heard of the means test. Indeed, much has been written about the means test, the vaunted gatekeeper to chapter 7 bankruptcy protection implemented by Congress as part of BAPCPA in 2005. Under that…Read more
Exemptions: What Can I Keep if I File Bankruptcy?
Many people mistakenly believe that they will lose everything when they file for Chapter 7 bankruptcy. In fact, in the thousands of bankruptcy cases I have filed for clients over the years, this is one of the biggest questions I get – “will I lose all my property in a bankruptcy?” This is not the…Read more
What is the Difference Between Surrendering a Home and Foreclosure?
What is the difference between surrendering a home in bankruptcy and losing a home to foreclosure? Many consumers are confused by the interplay between the two. When you file bankruptcy and surrender a home, you give the property back to the lender. When a lender forecloses on your home due to non-payment, they take the home…Read more