When you file a petition in bankruptcy, you are immediately entitled to certain protections provided by the automatic stay established by federal law. This prohibits creditors from calling, writing or taking any legal action outside of the bankruptcy … [Read more...]
Converting a Chapter 7 Bankruptcy Petition to A Chapter 13 Filing
When you face financial woes, and decide to file for bankruptcy protection, your first inclination may be to file a petition under Chapter 7, where you can permanently discharge debts and be done with them. However, you may not qualify under the new … [Read more...]
Forced Placed Insurance – Double Trouble
Most mortgages require a homeowner to maintain homeowner’s insurance for their property and to name the mortgage company as an additional insured party to the insurance. Some mortgage companies collect an escrow for both real estate taxes and … [Read more...]
Understanding the Different Bankruptcy Filings
Whether you face personal financial challenges or your business has fallen upon difficult times, there are options available to you under the federal bankruptcy laws. This blog post provides an overview of the most common types of bankruptcy … [Read more...]
Bankruptcy is for the Rich and Famous Too!
As a people we love to watch a rising star. We love celebrities! Perhaps the only thing more noteworthy than the rise of celebrity is watching that celebrity stumble, trip, or fall. It is no coincidence that whenever a celebrity files for bankruptcy … [Read more...]
Can You Prevent the Loss of Your Home or Car by Filing for Bankruptcy Protection?
If you have fallen behind on your mortgage or car payments because of the loss of your job, medical expenses, a divorce, or for any other reason, you may live in daily fear that you will lose your home or your vehicle. You may have considered filing … [Read more...]
Should I file my tax return if I can’t pay the taxes that I owe?
If you are self-employed or have 1099 income you may owe taxes to the IRS this year. But what are you supposed to do if you can’t pay those taxes when they are due? Should you still file that tax return? The answer to this question is an emphatic … [Read more...]
What is the Impact of Filing for Bankruptcy During a Divorce?
One of the unfortunate byproducts of divorce is the financial hardship that can affect one or both parties. You may fear that creditors will pursue you for debts incurred by your former spouse. You may have a house that you can’t afford, but that you … [Read more...]
Ways You Can Rebuild Your Credit after a Bankruptcy Filing
Tips for Rebuilding Your Credit after Bankruptcy A bankruptcy filing need not permanently ruin your credit. In fact, in many instances, it will be perceived by potential lenders as a positive sign, that you are taking steps to resolve your problems. … [Read more...]
Housing Recovery on the Way? If you are in debt and own a home, consider a bankruptcy to set yourself up for success
This morning the Associated Press reported two things which indicate that the housing market is strengthening. First, foreclosure repossessions fell in February 2013 to the lowest level since September 2007. This decline is accompanied by … [Read more...]