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My Creditors Are Suing Me – Is it Too Late to File Bankruptcy?

If you have put off filing for bankruptcy so long that your creditors are already suing you, you may fear that it is too late to do anything about it. You aren’t alone. Most people wait until the very last minute before they seriously consider bankruptcy as an option. It seems to be human nature […]

What Are the Ramifications of US Credit Card Debt if You No Longer Live in the US?

In a recent online discussion with a distressed woman, I was told the following story. A woman originally from Poland moved to the United States. She was married in the United States in 2009, but quickly realized she had entered into an abusive relationship and needed to get out and far away. Since she was […]

Denied the Right to File Bankruptcy Based on a Recent Car Purchase?

In a recent consultation, a prospective bankruptcy filer suggested that they would not be eligible to file for bankruptcy because they recently purchased a car. They were overwhelmed by credit card balances, drowning in old medical bills, struggling with student loans, and at the point where they were having trouble keeping their refrigerator full some […]

I Filed Bankruptcy…Can I Sell My House Now and Keep My Equity?

There are a lot of questions that need answers before the decision to file bankruptcy. There are a lot of questions that come up during the bankruptcy process. And there are more questions that crop up once the bankruptcy is closed and the discharge is received. One common “post-bankruptcy” question is, “Can I sell my […]

Chapter 13 Bankruptcy: Can I Strip a Second Mortgage?

When filing a Chapter 13 bankruptcy, you may be able to strip a second mortgage if there is no equity in your home after the first mortgage. In this instance, the second mortgage can be treated similar to any other unsecured lien (like a credit card debt) and the debtor could end up paying little […]

Selling Your Car Before Filing for Bankruptcy

One of the common issues that occur when someone decides they’d like to consider filing for bankruptcy is that they recently sold their car. In most cases, they did so because they needed the money. They were trying to figure their way out of their financial situation by coming up with additional funds. It seems […]

Planning Your Bankruptcy…and Your Wedding?

When planning your wedding, hopefully debt and bankruptcy and financial trouble don’t need to be a part of the discussion. In a perfect world, the conversation would revolve around the flowers, the dress, the venue, the guest list, and…the wedded bliss soon to come! But sometimes, affianced couples DO have to worry about some of […]

Car Title Loans and Bankruptcy

One of the most frequently asked questions of prospective filers is what happens to car title loans associated with their vehicles and if they can keep the cars when the bankruptcy is completed. Most filers are already aware that they can save their home, but they are unsure about the status of their vehicle ownership […]

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 […]

Signs That You May Be Headed for Chapter 7 Bankruptcy

You may think that it should be obvious if you are headed for the type of financial situation that requires a bankruptcy filing. But in many cases, a number of issues come to a head at the same time, leaving consumers confused and unsure about where they are and if bankruptcy is on their horizon. […]

The “Homesteading” Part of the Bankruptcy Process

When a person files for Chapter 7 Bankruptcy, they are entitled to a homestead exemption.  This amount differs from state to state. If the bankruptcy trustee determines that you have more equity in your home than is allowed, they are allowed to sell the home to the highest bidder, pay you your “homestead exemption” amount and […]

Walking Away From a House Included in Bankruptcy

Bankruptcy can make mortgage payments on a home complicated, to say the least. Many people find themselves with no other option but to leave the house they have a mortgage on when they attempt to obtain the protection from debt that bankruptcy was designed to provide. Because of this, I am often asked whether or […]

The 4th Step in Becoming Debt Free in 2015: Your Time on Stage

Once your bankruptcy case is filed, you’ll be surprised how quickly and smoothly the process moves along. Remember that millions have filed bankruptcy before you and the process has been fine tuned into a streamlined process. Tens of thousands of bankruptcy cases are handled per month in each state across the nation. I approach bankruptcy […]