When you seek protection from creditors through a Chapter 7 liquidation proceeding, you have the right to reaffirm any debts, such as a vehicle loan. When you sign the reaffirmation agreement, you voluntarily waive the right to discharge the debt on … [Read more...]
What to Do (and What Not to Do) Before a Bankruptcy Filing
If you face unmanageable debt and are considering filing for bankruptcy protection, there are specific steps that you want to take, as well as certain things you don’t want to do, before you actually file. Taking the right steps can streamline the … [Read more...]
Stop Garnishment and Levies by Filing for Bankruptcy Protection
When your debts become unmanageable, you face the risk that creditors will take legal action against you, garnishing your wages or levying on your bank account. If you are already subject to a garnishment or you fear that a creditor may seek to … [Read more...]
Exceptions to the Automatic Stay Afforded by the Bankruptcy Laws
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...]
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...]
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...]
Can You Pick and Choose Which Debts You Want to Discharge in Bankruptcy?
If you face insurmountable debt and have concluded that your only way forward is through a personal bankruptcy filing, you may have questions about how the process works. Do you have to include all your debts in the bankruptcy filing, or can you … [Read more...]