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Filing that Second Bankruptcy: Should or Should Not?

Poor financial decisions, recessions or the loss of a job can happen at any time during a person’s life.  These times may happen more than once in a person’s life and require considering many less than ideal options.  Sometimes filing a second bankruptcy is a way to wipe the slate clean once again. A person […]

Steps to Filing Bankruptcy During an Impending Divorce

There are many things to consider when making major life decisions like filing for bankruptcy, especially in the midst of, or an impending divorce. Protecting your credit is very important during this time for your financial freedom in the future. If your name is on the mortgage loan and you are afraid of future liability […]

Obtaining Bankruptcy Protection

When a person needs bankruptcy protection, they often cannot afford to pay their attorney for filing the bankruptcy. In such a case, one could look to their family to assist them in paying these fees so that they can receive the protection they need. There is a possibility that a loan could be procured to […]

Forced to File Chapter 7 Bankruptcy: To Reaffirm or Not to Reaffirm?

If you are underwater on your house and find yourself past due on your mortgage, you may feel that your hand is being forced. You might feel that you have no other choice, but to file for bankruptcy. Feeling forced to file for Chapter 7 bankruptcy isn’t the best situation, but you do still have […]

Forced to File Chapter 7 Bankruptcy: To Reaffirm or Not to Reaffirm?

If you are underwater on your house and find yourself past due on your mortgage, you may feel that your hand is being forced. You might feel that you have no other choice, but to file for bankruptcy. Feeling forced to file for Chapter 7 bankruptcy isn’t the best situation, but you do still have […]

Credit Cards and Bankruptcy – “Saving” Cards from Bankruptcy Discharge

Many southern California bankruptcy experts would argue that the single most important thing you need to do when considering filing for bankruptcy is STOP using your credit cards. The worst thing you can do for a potential bankruptcy case is to give the appearance that you are “running up” your credit account balances. Receipt of […]

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. It is not legal even […]

Bankruptcy and Taxes

It seems that anything you do nowadays is going to have tax consequences, so it shouldn’t surprise anyone that bankruptcy will have a few tax consequences of its own. Make sure you are informed about the laws regarding bankruptcy and taxes starting with noting down the difference between the consequences attached to each type of bankruptcy […]

Rebuilding Credit: Beware Certain Types of Credit Cards

Post-bankruptcy the main concern is rebuilding credit that was unavoidably affected by your bankruptcy. When you file, the bankruptcy is a public record and will be listed as such on your credit reports from all of the major credit reporting companies. It stays on the report for years and there’s nothing that can be done […]

Is Bankruptcy the Answer for Student Debt Relief?

If the amount of student loan debt you were left with after furthering your education is astronomical in comparison to your income as a graduate, you might not see a way to pay off your loans. You may have considered bankruptcy as a means of student debt relief. But you heard that the qualifications are too […]

Is Using a Credit Card to Pay Back a Family Member Bankruptcy Fraud?

When preparing to file for bankruptcy, many are tempted to pay back family members prior to filing. This temptation is just that – a temptation. Do not attempt to pay anyone back prior to filing. When filing for bankruptcy, you can’t decide to pay off one or two debts when you’re including the rest in […]

Maxing Out Your Credit Before You File Bankruptcy

There are certain times during which individuals or families might see a major influx of credit card spending: wedding preparations, moving from one home to another, vacations, the holidays, the start of a new school year, etc. It’s understandable and there are a million different reasons why: you don’t have the cash, but you have […]

Declaring Bankruptcy: What Property Can I Keep?

When filing a Chapter 7 bankruptcy, filers are allowed to keep all property that is classified as exempt from the claims of their creditors. Every filer should check with their bankruptcy attorney to verify the specific exemptions in their state before filing so they aren’t surprised by the details. Individuals who have less than 2 […]