Tag: chapter 7 bankruptcy Archive
Can I Walk Away from My Inheritance Before Filing for Bankruptcy?
Justin Harelik
August 18, 2015
Sometimes receiving an inheritance is amazing. Sometimes it’s a blessing. Sometimes it can even be a downright lifesaver. But then there are times when you feel like it’s the last thing you want! Some who have finally turned to bankruptcy as a solution for their impossible financial situations will be ...
Read More →
Are Retirement Funds at Risk When Filing for Chapter 7 Bankruptcy?
Justin Harelik
July 20, 2015
If you find yourself retired, and looking towards a future on a fixed budget, you will probably be more wary of making large payments towards overwhelming credit card debt. Many in this situation waver back and forth over the decision of whether or not to use their retirement funds to ...
Read More →
Credit Counseling vs. Bankruptcy: Which Comes Out on Top?
Justin Harelik
June 22, 2015
Is credit counseling as damaging as a southern California bankruptcy? Almost every individual interested in bankruptcy and the discharge of debt that it provides approaches their bankruptcy attorney with this question before they file. It’s difficult to provide a standard answer to suit all situations, but most who are in ...
Read More →
Post-Bankruptcy: Can I Own Land in My Own Name After Filing Chapter 7 Bankruptcy?
Justin Harelik
June 18, 2015
Many filing bankruptcy wonder whether or not it’s possible to put property in their own name after filing Chapter 7 bankruptcy. Others assume that there’s a waiting period for owning property in their own name post-bankruptcy. If you’re wondering how long you have to wait to put your name on property after ...
Read More →
Statement of Intentions for Chapter 7 Bankruptcy
Justin Harelik
May 7, 2015
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. ...
Read More →
Bankruptcy and Foreclosure, Short Sale or Deed in Lieu of Foreclosure?
Justin Harelik
April 22, 2015
When your home is in the foreclosure process, you might be tempted to panic. You may feel like you don’t have any options. Many have been in this same situation, and there are options out there. The trick is deciphering between the options and pinpointing the one that will be ...
Read More →
How Long Is a Chapter 13 Repayment Plan?
Justin Harelik
April 15, 2015
When considering a Chapter 13 bankruptcy, you might wonder if it’s better to get a 3 year pay back in order to get the recovery process started. Being on a fixed budget is an unpleasant prospect for many and thinking of the inconvenience may lead you to desire a shorter ...
Read More →
Home Equity and Filing for Bankruptcy: Limited Protection for the Equity in Your Home
Justin Harelik
March 25, 2015
Before filing for bankruptcy, you’ll want to educate yourself on the laws concerning home equity and filing for bankruptcy. Due to the limitations on how much of your home’s equity can be protected through Chapter 7 bankruptcy (limitations vary by state), some bankruptcy petitioners find themselves in need of some ...
Read More →
Chapter 13: Can We Walk Away from the House, but Keep Our Two Vehicles?
Justin Harelik
March 18, 2015
Sometimes, even with the most thorough contemplations beforehand, we change our minds after a decision has been made. It can happen to anyone. Sometimes we change our minds about what to have for lunch and sometimes we change our minds about something pretty big and important – like which personal ...
Read More →
Bankruptcy and Home Mortgage
Justin Harelik
March 9, 2015
Many of the clients we consult have early questions regarding bankruptcy and home mortgage. When filing for Chapter 7 bankruptcy, consumers have the option to reaffirm their mortgage. If filers are current on their loan payments and will be able to meet future payments, reaffirming the loan simply informs the ...
Read More →