Tag: bankruptcy law Archive
Receiving an Inheritance Post-Bankruptcy
Bankruptcy in and of itself is a simple idea. It is the process by which a consumer applies for a discharge of debts due to severe financial strain. The complexity occurs when you realize that those consumers are people who are living their lives. They experience surprises, unplanned events, complications ...
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Statement of Intentions for Chapter 7 Bankruptcy
On the Chapter 7 bankruptcy paperwork, filers will see four options on the “Statement of Intentions” form: Surrender, Redeem, Reaffirm or Other. This is your declaration of intention regarding the secured debts in your name. Secured debts include items such as: mortgages, vehicle loans, jewelry loans, timeshares, furniture/appliance loans, etc. ...
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The First Step in Becoming Debt Free is to Find a Bankruptcy Lawyer
Far too many New Year’s resolutions are related to improving the financial situation. If you find yourself making the same resolution to get out of debt year after year with little to no change in your total amount of debt, it’s time to approach it more practically. The first step ...
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Changes to Bankruptcy Filing and How They Could Affect You
There have been several changes to U.S. bankruptcy laws since 2005 that make it harder to file in comparison to years past. When changes such as this are implemented towards a process that was created to protect the average consumer from financial ruin, it’s important to know how they will ...
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Avoid Bankruptcy: 5 Telltale Signs You Might Be Living Beyond Your Means
Bankruptcy law was created to help individuals who have an insurmountable amount of debt. While it is a solution for those who are stuck in impossible financial situations, those who have filed will agree that the best solution is to avoid bankruptcy and the impossible financial situation in the first ...
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Bankruptcy’s Mythical Status: Bankruptcy Process is Not a Magic Financial Fix
Bankruptcy no longer carried a horrible social stigma as it did 20 years ago. It’s no longer reserved strictly for the use of corporations or businesses as it was historically. It’s also no longer a solution reserved for the “upper class” due to lack of information or astronomical costs associated ...
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Chapter 13 Lien Stripping: Stripping the Additional Mortgages from Your Home
petitioners have the option of “lien stripping.” The drastic drop in the value of homes in many regions throughout the nation in recent years has left many homeowners “upside down” in their homes. This well known saying means that the homeowner owes far more on the house than it is ...
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