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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 […]

Chapter 7 Bankruptcy: Can it Save a Home from Foreclosure?

There are a lot of Americans who have, at one point or another, fallen behind on their mortgage payments. In some cases, the lender or mortgage company may consider working with the homeowner to work out a deal to catch up or get out of an upside down mortgage (i.e. short sale or loan modification). […]

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 […]

Chapter 7 Bankruptcy: Why is My Bank Account Still Frozen?

If you’ve filed for Chapter 7 bankruptcy, you case is complete and you have received your discharge of debt, you’re probably dancing on the rooftop – or at least on a countertop! That is, unless you have lingering issues such as a bank account that is mysteriously still frozen. If your Chapter 7 bankruptcy is […]

Hanging Onto Your House When Filing Chapter 7 Bankruptcy

The main concern of many bankruptcy petitioners is their home. They know that bankruptcy is their best (or only) means of solving their financial situation, but they don’t want to lose their house. Many are willing to go to extreme measures not to lose their home. Consider this real life example: Jane McCadden is considering […]

When Creditors Ignore Your Discharge of Debt

The purpose of filing for Chapter 7 bankruptcy is to immediately enact the automatic stay and eventually obtain the discharge of debt. What happens when you go through legal channels to obtain both these powerful protections through bankruptcy filing and creditors ignore their legal implications? If you are being harassed by creditors in spite of […]

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 and unforeseen circumstances. One such […]

Chapter 7 Bankruptcy: Too Much Equity in Your Home

One of the only times that having “too much equity” in your home will hurt you is when you are filing for Chapter 7 bankruptcy. It seems contradictory, but having too much equity in your home can seem to turn into a consequence for petitioners hoping to obtain a discharge of debt through Chapter 7 […]

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 […]

The Status of Your Home During Chapter 7 Bankruptcy

Often people are worried about losing their home when considering filing for Chapter 7 bankruptcy.  The fear of losing their home often inhibits people from filing for bankruptcy protection regardless if there is any equity in the home or not.  A bankruptcy homestead exemption is the amount of equity that can be protected in your […]

Your Credit Union and Your Bankruptcy

Credit unions are allowed special circumstances in regards to a member filing a bankruptcy.  If debt to a credit union is included in a Chapter 7 bankruptcy there is no hope for continuing current or future association with them or any other branch whatsoever.  Eliminating debt during a bankruptcy with a bank does not mean […]

Bankruptcy and the State of a Deed After Divorce

It is common for one spouse to sign off on a property title during a divorce. However, creditors aren’t part of these divorce agreements, and specifically, mortgage companies are not required to take your name off the original loan. You and your ex-spouse are still both legally responsible for the mortgage despite what was agreed […]

Factors to Consider When Deciding Whether or Not to File Bankruptcy

Whether you have a history of eviction, credit card debt, a repossessed car, broken cell phone contracts, or unpaid hospital bills, there are many things to consider before filing bankruptcy. If bankruptcy seems like a good way to become unburdened from this type of financial past, which kind of bankruptcy is the right kind, 7 […]

Bankruptcy Tips: When To File a Statement of Intention

One of the common questions associated with bankruptcy filing is WHEN to file WHAT paperwork! It’s handy to get some bankruptcy tips. There are so many different documents and they all pertain to specific situations and many have their own deadlines. One popular question is…When does the Statement of Intention need to be filed? If […]

Bankruptcy Post-Divorce: Good News & Bad News

If you are filing for bankruptcy post-divorce and you owned a home during your marriage…we’ve got both good and bad news for you. If a Home Equity Line of Credit (“HELOC”) is included in a Chapter 7 bankruptcy, the liability on that HELOC is gone once a discharge notice is received. That’s good news. In […]

The 3 Worst Things to Do Before You Declare Bankruptcy

If you’ve decided to declare bankruptcy, I hope you’ve talked to a professional and you have all your ducks in a row. But if not…you may be unaware of a few very important aspects of bankruptcy. First, it’s a real legal process. You can’t just fly by the seat of your pants and fumble your […]

Are Homeowners Eligible to File Chapter 7 Bankruptcy?

The two most common bankruptcy options are: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Many individuals worry about filing bankruptcy for fear that they will lose their house. Others, who have learned they don’t have to lose their house when they file for bankruptcy, still think that they have to limit their options to a […]

Post-Bankruptcy: When is My Name Removed from the Deed?

Once you’ve filed for Chapter 7 bankruptcy and received your discharge of debts, your mortgage lender’s attorneys could still contact you even if you included your home in your bankruptcy. Such letters will often urge you to contact the lender for options: loan modification, short sale, deed-in-lieu of foreclosure, forbearance, repayment, etc. If you find […]

Can the Trustee Come After My Assets when My Ex Files Bankruptcy?

When your ex files bankruptcy soon after the divorce, in some cases, the trustee will discover discrepancies in the handling of the marital assets. If they do, they could contact you regarding assets that your ex is entitled to that you may be in possession of in order to use those assets to pay off […]

Can I Buy My House Back at Auction After My Bankruptcy?

You filed for Chapter 7 bankruptcy earlier in the year and included your home since you owed substantially more than its now worth. You are still occupying the home and are now wondering if you can buy your own house back at the foreclosure auction. You have the money, but aren’t sure about the taxes […]