Category: Bankruptcy Issues Archive
Bankruptcy and Lease Agreements
It is important to understand the laws governing bankruptcy and lease agreements when considering filing from bankruptcy. When entering into a commercial lease some lessors will attempt to include clauses that are not supported by law. Specifically, lessors may include clauses prohibiting bankruptcy during the term of the lease agreement. ...
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Bankruptcy and Credit Counseling: The Worst Case Scenario
Sometimes it is comforting to approach a situation knowing the worst-case scenario. When discussing bankruptcy and credit counseling options, the first step towards understanding the worst-case scenario is to consider both the advantages and disadvantages. If you’ve already taken the time to run through some of the many articles available to ...
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Preparing for Bankruptcy: Voluntarily Closing Credit Accounts
If you feel you are considering preparing for bankruptcy, you should read testimonials submitted by other bankruptcy petitioners. You should also read material regarding the process of bankruptcy. You should know who the bankruptcy trustee is and what their job is in relation to your bankruptcy case. You should know all ...
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Bankruptcy and Divorce: When Your Ex Files Without Adhering to the Property Settlement Agreement
So you filed for divorce. During the divorce process, a Property Settlement Agreement (also known as the Marital Settlement Agreement) was created detailing out the division of assets and liabilities. In this agreement, it’s common for the family home to be designated to one of the two parties. When this ...
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What Happens to Judgments You Hold When Filing for Bankruptcy?
There is always a lot of discussion regarding judgments and bankruptcy. But in most cases, the discussion is all about how to avoid getting a judgment against you for outstanding debt or how to handle a judgment if it’s already in place, etc. What we don’t talk about very much ...
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Bankruptcy Questions: Can a Creditor Ignore the Automatic Stay?
Everyone loves that filing for bankruptcy means that creditors are automatically restrained from taking any action to collect the debts owed to them by the petitioner. The automatic stay goes into effect at the very moment the bankruptcy petition is filed. The only exceptions to the automatic stay are commencement ...
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Is Suing to Collect on a Personal Debt a Viable Option?
In the event that you loan money to a friend, family member, or acquaintance that fails to pay, there are a couple factors that need to be considered before you decide how to collect a personal debt. In most cases, you must sue within four years of the date you ...
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If I Don’t Make My Minimum Monthly Credit Card Payment Will I Get Arrested?
There are so many people that are struggling with overwhelming debt. Many of those who find themselves in an impossible situation financially attempt to “do what they can” to stay in good standing. Doing what they can usually means sending in as much money as possible, but not meeting the ...
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What Happens When Your Student Loan Cosigner Files for Bankruptcy?
With rising tuition prices across the nation, it’s not surprising that there is so much talk about bankruptcy and student loans, excessive student loan debts, and astronomical student loan payments. What many are wondering, but not many are sure about is what happens when the cosigner on a student loan ...
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Bankruptcy and Credit Cards
When considering options prior to filing for bankruptcy, there is one basic concept that is frequently overlooked: ALL debt should be included in your bankruptcy filing. This holds true for bankruptcy and credit cards as well. Even after the question has been asked and answered many potential bankruptcy filers have ...
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