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Category: Bankruptcy Issues

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Can Bankruptcy Stop Your Eviction?

Tenants facing eviction often frantically search for answers to the situation. First and foremost for those in this situation is usually the desire to stay in their home. The need to relieve the pressure of the debt usually comes in a close second and third is a desire to do right by a landlord that […]

Does Business Debt Transfer with the Sale of the Company?

I recently spoke with a young man who had built a business from scratch, experienced a downturn in the industry that left the company overwhelmed by debt and unable to move forward with production expecting to make a profit. He felt his only recourse was to file bankruptcy on the small business. As the sole […]

My Creditors Are Suing Me – Is it Too Late to File Bankruptcy?

If you have put off filing for bankruptcy so long that your creditors are already suing you, you may fear that it is too late to do anything about it. You aren’t alone. Most people wait until the very last minute before they seriously consider bankruptcy as an option. It seems to be human nature […]

Does Filing for Bankruptcy Keep Broken Leases Off Your Credit Report?

When you file for bankruptcy, you receive an automatic stay, which requires that any and all creditors stop contacting you in order to seek payment on debts. When you receive your bankruptcy discharge, all eligible debts included in the bankruptcy filing are no longer your liability. These are two of the most common benefits of […]

What to Do If You Retained an Attorney, But Bankruptcy Wasn’t Filed

A recent email arrived with a question from a women who hired an attorney two years ago to file a Chapter 13 bankruptcy. She paid the bankruptcy attorney $1,000 up front. No other payments were made, but the Chapter 13 bankruptcy was never filed. Her question was this: is it possible to obtain a refund […]

What Are the Ramifications of US Credit Card Debt if You No Longer Live in the US?

In a recent online discussion with a distressed woman, I was told the following story. A woman originally from Poland moved to the United States. She was married in the United States in 2009, but quickly realized she had entered into an abusive relationship and needed to get out and far away. Since she was […]

Obtaining Financial Aid & Student Loans After Bankruptcy

If you are a student considering bankruptcy, odds are you have wondered about how filing bankruptcy could affect your future eligibility for student financial aid and student loans. Will a successful bankruptcy affect your ability to obtain future assistance to pay school tuition, purchase books, and cover the costs of living while in school? Does […]

How is Past Due Rent Treated During a Bankruptcy Case?

If you are a landlord and your past due tenant is not only moving out, but is also rumored to be considering bankruptcy, is there any benefit to suing for past due rent? How is past due rent treated in a bankruptcy filing? When it comes to a landlord/tenant relationship, bankruptcy is mostly going to […]

Getting Divorced in the Midst of Chapter 13 Bankruptcy

Recently, I sat down in a consultation with a woman who was concerned about the status of her Chapter 13 bankruptcy in connection with a pending divorce. She wasn’t even sure how to ask the question, but after a bit of discussion we decided that what she really wanted to know was how do you […]

Life After Bankruptcy: When Creditors Forgive, But Don’t Forget

Have you ever loaned a friend or family member money? Maybe it was way back when you were 12 and your 16 year old sister really wanted your babysitting cash because she was headed to California with a friend and REALLY wanted to go shopping at the outlets on the way. Maybe it was last […]

That Old Debt in That Old Bankruptcy Filing

When you file bankruptcy, you are seeking the bankruptcy protection that has helped so many climb out of the deep pit debt can create due to the economy, industry changes, job loss, health complications, family emergencies, etc. Regardless of the reason or reasons behind your bankruptcy filing, you listed all your debts in your paperwork, […]

Denied the Right to File Bankruptcy Based on a Recent Car Purchase?

In a recent consultation, a prospective bankruptcy filer suggested that they would not be eligible to file for bankruptcy because they recently purchased a car. They were overwhelmed by credit card balances, drowning in old medical bills, struggling with student loans, and at the point where they were having trouble keeping their refrigerator full some […]

Will Filing Bankruptcy Harm My Career?

For many people, a career is a major priority. Even for those who don’t love their jobs, the thought of not advancing is very distressing. Everyone wants to succeed at work even if only to maximize their earning potential. So many worry that when they file for bankruptcy it will disrupt their career advancement or […]

Legal Separation’s Effect on Bankruptcy

Many people experience extreme financial distress during the same period when they are experiencing equally extreme distress in their relationship. We aren’t here to discuss if one situation is a catalyst for the other, but to outline how a legal separation alters the affect of bankruptcy on the filer and the filer’s spouse (from which […]

I Filed Bankruptcy…Can I Sell My House Now and Keep My Equity?

There are a lot of questions that need answers before the decision to file bankruptcy. There are a lot of questions that come up during the bankruptcy process. And there are more questions that crop up once the bankruptcy is closed and the discharge is received. One common “post-bankruptcy” question is, “Can I sell my […]

Divorce Decree v. Bankruptcy: Which Determines Final Debt Liability?

Meet Dawn and Jared. Dawn and Jared were high school sweethearts. They got married during college. Dawn eventually became a lawyer and Jared eventually became a doctor. By the time they got divorced, they hardly saw each other because they were both so busy and had such different priorities and schedules. They didn’t hate each […]

Bankruptcy & Your Home Business

If you run a small business from your home, you’re probably wondering if you need to include it in your bankruptcy filing. If you are declaring Chapter 7 bankruptcy on your personal debts, do you have to get your small business involved? This is another specific situation that may require different actions depending upon your […]

Does a Quit Claim Deed Provide Release from a Mortgage Note?

Being an adult is hard sometimes. And one of those times occurs when there’s a shortage of money, relationships have ended, property has been divided (theoretically) and someone is filing bankruptcy. In some cases, it can seem like you’re being pressured from all sides to do something that you don’t even understand. One such situation […]

Stopping Wage Garnishment During Bankruptcy

Wage garnishment can cause major financial trouble. For those already considering filing for bankruptcy, it can be a catastrophe. That’s why it’s so important to know your rights regarding wage garnishment, bankruptcy, and stopping wage garnishment during bankruptcy. If you have filed for bankruptcy and your wages are still being garnished, you most likely want […]

California Bankruptcy: Can I Keep My Car?

If you file for bankruptcy, do you have to give up your car? This is one of the two most commonly asked questions by potential bankruptcy petitioners, the other being about the loss of the house. In some cases, the bankruptcy has been postponed out of fear of this particular loss. Maybe you’ve never been […]