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Four Tips For The Post Bankruptcy You

Bankruptcy offers debtors the chance at a fresh financial start.  But what does a debtor do once their debt has been discharged and their bankruptcy case closed? Tips every post bankruptcy debtor should follow: Live within your means. Debtors exiting bankruptcy must learn to rely less on debt and more on the real income they [...]

By |2018-11-12T21:52:23-05:00March 22nd, 2010|After Bankruptcy, Bankruptcy, Bankruptcy Q&A, Economy, Managing Your Finances, Medical Bills|Comments Off on Four Tips For The Post Bankruptcy You

Why HAMP Is Failing To Stop The Foreclosure Crisis

Is the Making Home Affordable Modification Program Working? When the Obama administration launched the Making Home Affordable Modification Program (HAMP) many homeowners thought they would finally have access to modification tools that would help them avoid foreclosure . However, HAMP has failed to deliver on its promises and many view the $75 billion invested in [...]

By |2017-12-13T01:30:06-05:00March 18th, 2010|Bankruptcy Q&A, Foreclosures|Comments Off on Why HAMP Is Failing To Stop The Foreclosure Crisis

Will I Lose All Of My Property If I File Bankruptcy?

One of the most insidious myths about bankruptcy is that debtors who file bankruptcy will lose all of their personal property.  For the umpteenth time, this myth is simply not true.  A matter of fact, most debtors who file Chapter 7 bankruptcy do not lose any of their property.  Every state, plus the federal bankruptcy [...]

By |2018-11-14T18:56:17-05:00March 18th, 2010|Bankruptcy, Bankruptcy Q&A, Economy|Comments Off on Will I Lose All Of My Property If I File Bankruptcy?

Three Dangers Of Hiding Debt

In troubled times many people turn to debt to make ends meet, take care of emergencies or just to relieve the stress of everyday life by charging shopping sprees to their credit card.  But more and more Americans are not only become more indebted, they are choosing to rack up large amounts of debt secretly.  [...]

By |2018-11-09T17:03:48-05:00March 18th, 2010|Bankruptcy, Bankruptcy Q&A, Economy|Comments Off on Three Dangers Of Hiding Debt

I’ve Paid Several Bills Before Filing Bankruptcy – Will The Bankruptcy Court Demand The Money Be Returned?

The bankruptcy code allows the bankruptcy trustee to demand the return of  assets that were transferred before a debtor filed bankruptcy under certain circumstances. The debtor made payments on a debt that gave that creditor preferential treatment over other creditors. For example, if a debtor repaid a relative while not paying on their other debts, [...]

By |2018-11-14T21:25:03-05:00March 17th, 2010|Bankruptcy, Bankruptcy Q&A, Economy|Comments Off on I’ve Paid Several Bills Before Filing Bankruptcy – Will The Bankruptcy Court Demand The Money Be Returned?

Five Steps To Conquering Monstrous Debt

Steps to conquering debt: The first step to conquering debt that has gotten out of control is to get honest with yourself.  Take the time to find out how much you owe, how much you earn and what the real gap is in between.  One of the biggest shockers debtors experience when they file bankruptcy [...]

By |2018-11-09T16:26:33-05:00March 16th, 2010|Bankruptcy, Bankruptcy Q&A, Debt and Tax Relief, Economy|Comments Off on Five Steps To Conquering Monstrous Debt

The Chapter 13 Bankruptcy Process For Debtors

When a debtor decides to file for Chapter 13 bankruptcy there is process they must follow.  Below we break down the Chapter 13 bankruptcy process into seven simple to understand steps. Step 1: First discuss with your bankruptcy attorney all of your bankruptcy options, including Chapter 7 bankruptcy. Although Chapter 13 bankruptcy is a viable form [...]

By |2018-11-14T23:45:16-05:00March 16th, 2010|Bankruptcy, Bankruptcy Q&A, Chapter 13 Bankruptcy|Comments Off on The Chapter 13 Bankruptcy Process For Debtors

Five Tips For Self-Employed Debtors Filing Bankruptcy

Tip #1 - Make sure your business and personal finances are separate before you file bankruptcy.  Take an effort to keep track of your business expenses and income while simultaneously keeping your private finances in order before you bankruptcy filing. Tip #2 - Work with an accountant if necessary to calculate what your monthly income [...]

By |2018-11-14T17:44:22-05:00March 15th, 2010|Bankruptcy Q&A, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt Collectors, Economy|Comments Off on Five Tips For Self-Employed Debtors Filing Bankruptcy

Property Taxes and Bankruptcy

Many debtors behind on both their mortgage and property taxes wonder if bankruptcy can be used to stop a property tax sale of their home. Bankruptcy Can be Used to Stop a Property Tax Sale Fortunately for debtors facing a property tax sale of their home, bankruptcy can be used to stop the sale if [...]

By |2017-12-13T04:17:22-05:00March 5th, 2010|Bankruptcy, Bankruptcy Q&A, Economy|Comments Off on Property Taxes and Bankruptcy

How Do Child Support Payments Impact My Bankruptcy?

Bankruptcy and Child Support Payments Unfortunately for single parents, child support payments received in the six month period prior to filing bankruptcy will be counted as income for the purposes of the means test . If inclusion of that child support puts your income above the median income for the state of Texas, you may [...]

By |2017-12-13T04:17:39-05:00March 5th, 2010|Bankruptcy, Bankruptcy Q&A|Comments Off on How Do Child Support Payments Impact My Bankruptcy?