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Blog Posts in August, 2012

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  • Save Money by Keeping a Healthcare Notebook

    Posted By admin || 31-Aug-2012

    Very few people read all of the information they're provided when they sign up for health insurance, and this could be costing you money. If you sit down and actually go through your health care information you will learn what providers you can see, when you can get coverage for certain procedures, how much coverage they'll provide, what amounts are going to be yours and what you'll share with the ...
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  • What Debt Can Be Discharged In Chapter 13 Bankruptcy?

    Posted By admin || 31-Aug-2012

    Chapter 13 bankruptcy allows qualifying debt to be discharged when your case ends. Chapter 13 may wipe away or eliminate certain debts not eligible for discharge in Chapter 7 bankruptcy. While certain debts must be paid in full, the amount paid toward outstanding debt depends on your income and other monthly expenses. Chapter 13 helps reorganize debt through a structured repayment plan approved by ...
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  • What If I Have More Than One Vehicle When Filing Bankruptcy?

    Posted By admin || 30-Aug-2012

    Have Multiple When Filing Bankruptcy? If you have multiple vehicles when you file bankruptcy, it's likely you'll be able to keep them thanks to bankruptcy exemptions. When you file bankruptcy you are entitled to exemptions that can help protect automobiles. The exemptions are available at different levels including state and federal. While there are exemptions that can help protect personal ...
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  • How Can Chapter 13 Bankruptcy Help With Tax Debt?

    Posted By admin || 30-Aug-2012

    Chapter 13 Bankruptcy and Tax Debt Chapter 13 bankruptcy is a repayment plan approved by the court.While the filing may not allow for elimination of all outstanding taxes owed, you may be able to discharge some of the debt at the end of your case. Chapter 13 can help you repay tax debt within 3 to 5 years depending on the length of your repayment plan. Tax debts are classified as either being a ...
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  • What If I Default on My Mortgage During Bankruptcy?

    Posted By admin || 29-Aug-2012

    There are times in which a debtor may fall behind on mortgage payments due to different situations such as job loss, income reduction or medical illness. While it is understandable these things happen you'll want to keep in mind actions to avoid so you can maintain your home. You'll also want to note what you should do when and if you get behind on payments. Actions depend on which chapter you ...
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  • How Waiting to File Bankruptcy May Discharge Tax Debt

    Posted By admin || 29-Aug-2012

    Many are under the impression that tax debt cannot be discharged through bankruptcy. Yet, tax debt could qualify for elimination under certain conditions in either Chapter 7 or Chapter 13 bankruptcy. Certain tax debt may be eligible for discharge under the following requirements: Three years before filing your petition your taxes were due. The timing may vary if tax returns related to outstanding ...
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  • How to Set Up Your Own Medical Debt Settlement

    Posted By admin || 28-Aug-2012

    It doesn't take much for medical bills to become overwhelming and to cause financial strain on an individual. When the medical situation gets a little more intense the bills quickly skyrocket and many Americans then opt for bankruptcy as the only way to get away from that debt. There are few options when dealing with medical debt, you either file for bankruptcy and watch your debts fade away or ...
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  • Historic Black College Morris Brown Seeks Bankruptcy Protection

    Posted By admin || 28-Aug-2012

    Morris Brown College, a historical black college founded by freed slaves back in 1881, filed for Chapter 11 bankruptcy to stop foreclosure proceedings against the school. The college claims they were able to pay on certain debts but along with receiving notice of foreclosure against the establishment, filing for legal protection was seen as its last option to help stay afloat. Morris Brown College ...
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  • What Happens If I Become Unemployed During Bankruptcy?

    Posted By admin || 27-Aug-2012

    Unemployed During Bankruptcy It's possible a job loss could affect the outcome of your case, yet it depends on which chapter you've filed. Losing your job will likely have an impact on how you maintain assets such as your vehicle and home. How your job loss affects your case may vary but unemployment benefits may be an option to help you satisfy financial obligations if you qualify. Job Loss ...
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  • Why is Credit Counseling Required When Filing Bankruptcy?

    Posted By admin || 27-Aug-2012

    The Bankruptcy Court requires debtors who file for bankruptcy protection to complete a financial management course before a discharge is granted for your case. Part of the reason for the requirement is due to changes made in bankruptcy laws in 2005. The credit counseling and financial management requirements are there to educate and inform debtors on various aspects of their finances. The courses ...
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  • Infographic: Mixed Prospects for Texas' Uninsured

    Posted By admin || 24-Aug-2012

    Many believed the Affordable Care Act was the route to a better future. Not just for the current generations but for the future children of America. The reality is much more dire as the number of uninsured in the U.S. hit an all time high in June 2012. Texas is one state that has been hit the hardest and currently has the greatest number of uninsured citizens in the United States. Here's a ...
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  • If I Get a Cash Advance Before Filing Bankruptcy Will It Affect My Case?

    Posted By admin || 23-Aug-2012

    Cash Advances and Bankruptcy A cash advance is known as either a payday loan or cash withdrawal from a credit card. A cash advance as a payday loan allows consumers to borrow money against their next paycheck. A cash advance as a withdrawal from a credit card allows consumers to withdrawal money from their available credit on the card from an ATM or debit transaction using a pin number. So is it ...
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  • Specialty Retailer Mark Shale Seeks Bankruptcy Protection Again

    Posted By admin || 23-Aug-2012

    Clothier Mark Shale, based in Chicago, Ill. is one of the city's oldest specialty retail stores. The retailer filed for Chapter 11 bankruptcy protection this week as it continues to seek a buyer or additional financing to continue staying afloat. The retailer, which is over 80 years old, claims sales have dropped significantly in recent years by 60 percent. A reduced cash flow and the downturn of ...
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  • How Chapter 13 Bankruptcy Can Help You Catch Up on Mortgage Payments

    Posted By admin || 22-Aug-2012

    If you have fallen behind on your mortgage, Chapter 13 bankruptcy may be an option to consider to help you get caught up on missed payments. One of the most common reasons why Chapter 13 is filed is to cure a mortgage in default. The action not only helps in saving your home but in many cases, it can help reduce monthly payments allowing you to keep your home. When Chapter 13 Bankruptcy is Filed ...
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  • Can I Choose Which Bankruptcy Chapter to File?

    Posted By admin || 22-Aug-2012

    Choosing Which Bankruptcy Chapter to File Many debtors assume they can choose which bankruptcy chapter to file. In some cases you can choose which chapter to file, but you'll need to understand qualifications for each chapter before deciding. Yet, some may not have an option to choose. Bankruptcy laws require debtors to meet income requirements for each chapter based on their state of residence ...
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  • Gay Couple from Kentucky Granted Joint Bankruptcy Filing

    Posted By admin || 21-Aug-2012

    Joey Lester, 48, and Bob Joles, 47, live in the state of Kentucky. They have been together for 16 years and recently got married in the state of New York. While the state of Kentucky doesn't recognize their union, they were however, able to file a joint bankruptcy petition that allowed them to reorganize their debt in late July. The couple was able to file a joint Chapter 13 bankruptcy filing due ...
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  • What Happens When My Unemployment Benefits Run Out?

    Posted By admin || 21-Aug-2012

    Experiencing a job loss can really shake things up when you're used to doing things in certain ways. You are forced to make financial changes that you may not be used to. It is important to remember that unemployment benefits are available for qualifying workers for a temporary time. Depending on how long you have been unemployed you may be able to apply for an extension to continue receiving ...
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  • How Does Bankruptcy Protect Your Home When You File?

    Posted By admin || 20-Aug-2012

    Many debtors worry about what will happen to their home when they file bankruptcy. Many tend to steer away from the idea of filing in fear they will lose their home. The good news is that most people who file are able to keep their homes thanks to the homestead exemption. The exemption can be utilized in either Chapter 7 or Chapter 13 bankruptcy. The homestead exemption offers protection for your ...
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  • Will Borrowing from My Retirement Funds Affect My Bankruptcy Filing?

    Posted By admin || 20-Aug-2012

    Consumers facing financial difficulties may look to borrow from their retirement plan, but how will this affect your bankruptcy case? It likely depends on which chapter you file and whether or not you plan to borrow from the plan before or after you file. There are several reasons why your decision to borrow from your retirement plan may not affect your filing. It is likely funds from the ...
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  • How is Credit Card Debt Handled in Chapter 13 Bankruptcy?

    Posted By admin || 16-Aug-2012

    Credit Card Debt and Bankruptcy Chapter 13 bankruptcy helps debtors reorganize their debt into manageable payments scheduled over a certain time period. When it comes to credit card debt, the amount you pay may vary depending on multiple factors. If you make necessary payments according to your plan you may qualify to have any remaining credit card debt discharged or eliminated when your Chapter ...
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  • 4 Ways Chapter 13 Bankruptcy Can Help Homeowners

    Posted By admin || 16-Aug-2012

    Chapter 13 bankruptcy offers homeowners several options when it comes to dealing with foreclosure, a mortgage default or even a second or third mortgage. Chapter 13 is known for helping homeowners obtain affordable mortgage payments that allow them to keep their homes. The following options give more details on how struggling homeowners can utilize Chapter 13 to help them maintain their home: ...
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  • Judges Crack Down On Bankruptcy Petition Preparers

    Posted By admin || 15-Aug-2012

    Bankruptcy judges have begun to crackdown on bankruptcy petition preparers who have defrauded clients, one such conviction ended with a 27 month prison term. Judges point to cases where preparers pocketed fees but failed to do the work, messed up filings or simply overcharged clients. They have also repeatedly ordered preparers to return fees to clients - though the refunds often are never made. ...
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  • Should You File Bankruptcy Or Accept Foreclosure?

    Posted By admin || 15-Aug-2012

    Filing Bankruptcy Or Accept Foreclosure Homeowners facing foreclosure often consider bankruptcy, but is bankruptcy a better option than foreclosure? Let's take a look at a few of the factors debtors should consider: Desire And Ability To Keep Home The first question a debtor should ask before filing bankruptcy to avoid foreclosure, is if they want to keep their home. If so, does the debtor have ...
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  • How Chapter 13 Bankruptcy Can Help You Keep Your Vehicle

    Posted By admin || 14-Aug-2012

    Can Filing Chapter 13 Help You Keep Your Vehicle? Chapter 13 bankruptcy is a repayment plan that helps reorganize debt obligations. Payments are made based on a schedule that's approved by the court. While the chapter is commonly known for helping debtors keep their home and prevent foreclosure, it can also help you keep your vehicle by preventing repossession and lowering payments. If you're like ...
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  • Bankruptcy Helps Improve Credit in a Variety of Ways

    Posted By admin || 14-Aug-2012

    How Bankruptcy Can Improve Credit Bankruptcy has been known to help people get a fresh start for several reasons. Filing doesn't make you ineligible to receive credit but it may actually help you obtain the credit you need to help achieve financial goals. During the filing process you're almost debt free and even closer to improving your credit score. Bankruptcy can even help you get into a better ...
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