bankruptcy blog

For many people the notion is that a debt is a debt and there is nothing to distinguish between one creditor and another, but this is an assumption that is incorrect. There are distinctly different types of debt and debtors. There are some debts that are known as “secured” debts that differ completely from other  … Read more

When you file for a Chapter 7 bankruptcy and have secured personal property loans, you have a choice as to whether you want to relinquish the item be it a car, furniture, electronics or something similar or reaffirm the debt and continue paying for the item even after your discharge. The opportunity to renegotiate the  … Read more

You had what you thought was a great idea and put your heart and soul into getting the business off the ground but despite all the hard work and toil you have found yourself on the ropes financially with a  load of business related debts. What is your next step and where do you turn?  … Read more

For most citizens the thought of going bankrupt is a scary and unknown area that conjures up thoughts of having all your possessions seized by the courts and liquidated to appease the creditors waiting in the wings with gleefully maniacal smiles and hands rubbing together in anticipation. The flip side is the people who believe  … Read more

After much debate and soul searching, you have decided that the only way to move forward in your failing business is to seek protection through bankruptcy. What debts have you incurred while trying to keep the business afloat are actually eligible for discharge through bankruptcy? The long answers is that it depends. If you choose  … Read more

If you and your partner are both considering seeking bankruptcy protection due to unmanageable debt loads there are some things you need to consider before filing. The main question is whether you should file as a couple in a joint petition or file separate petitions. There are pros and cons to both and there may  … Read more

There are many myths about bankruptcy you may hear floating among conversations by the misinformed. If you are faced with the decision of filing bankruptcy, make sure you are aware of the facts and don’t rely on what your uncle’s cousin’s friend once told you. For those who may be familiar with the concept (and  … Read more

Many people who have faced the travails of seeking protection through bankruptcy struggle mightily after discharge to find a way of rebuilding their credit and getting back to a place where they are able to re-establish themselves financially. One of the ways they seek to do this is to use the option of automatic debt  … Read more

A question that is often asked, especially in the past few years with the amount of house foreclosures in the U.S., is what happens to the balance of monies owed after a foreclosure. Do you still owe money to the bank or lender if they sell the home for less than what you owed on the mortgage? The  … Read more

A Homestead declaration is a type of document that shows the bankruptcy court that the property that you list on it is your main residence and this is where you live. If you are in a tough financial situation it is most important that you have a Homestead declaration in the event that you are  … Read more