Tag: filing for bankruptcy Archive
Should Stabilized Leases Be Exempt from Bankruptcy Proceedings?
New York and California lay claim to the greatest concentration of rent-regulated housing in the United States. Between the two much-loved states there are almost 70 municipalities. These programs were established in various communities after World War I to create balance; a situation in which landlords (or owners) could make ...
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Who Is Notified When You File for Bankruptcy in California?
Many individuals who consider filing for bankruptcy immediately start to worry about who will know that they have filed. They can’t help but wonder, who exactly knows when you file for bankruptcy? When you file for bankruptcy, the filings will become a part of the public record (as will most ...
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Bankruptcy: Is That My Only Option or Are There Bankruptcy Alternatives?
Bankruptcy isn’t always the best answer in a financial crisis. When filing for bankruptcy, it could be necessary to risk non-exempt assets, certain debts may not be eligible for discharge, and in some cases individuals or couples may not even be eligible to file for bankruptcy. To ensure that bankruptcy ...
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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 ...
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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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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 ...
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Is There a Difference Between Credit Counseling and Debtor Education?
When filing for an individual bankruptcy, you need to complete credit counseling and debtor education. The two are distinct and fulfill different purposes. Some question the need for both and may even find themselves confused. What is the difference between credit counseling and debtor education? The most obvious difference is ...
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Bankruptcy and Examples of Fraudulent Transfers
Many bankruptcy filers don’t realize how the stakes are if they try to transfer property fraudulently that is associated with the bankruptcy. Consider these examples of situations in which a debtor could be accused of bankruptcy fraud: Consider if you owned a vehicle worth $10,000. There are no liens on ...
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Bankruptcy is a Solution to a Specific Problem: Not a Cure-all
In the old days, many households put a lot of faith in traditional “cure-alls.” They were ointments, teas or oils that were used to cure…well, everything. An interesting fact about many popular cure-alls from the past is that a large number of them included the same main ingredients: onions, kerosene, ...
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Your Credit after Bankruptcy: Filing Will Hurt it, but it Won’t Kill It
It’s interesting how the word credit changes when we put the word “your” in front of it. Credit is funding offered up front that is expected to be repaid at a later date, usually with an agreed upon payment plan. But when we alter it to the phrase “your credit” ...
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