Blog Posts in August, 2011
Posted on Aug 31, 2011 By Majed
It depends. Can you afford to keep them? Typically the goal of a Chapter 7 is to liquidate a debtor's assets and keep only what the debtor needs to rebuild his financial life, i.e. his home and his ...
Continue reading "Do I Have to Give Up My Credit Cards?" »
Posted on Aug 29, 2011 By Majed
A creditor may not file a suit against a debt that is involved in a bankruptcy proceeding or discharge. This means that if you owe Company A 5,000 for several different debts, and all of those debts ...
Continue reading "Can Creditors File Suit Against my After I File Bankruptcy?" »
Posted on Aug 26, 2011 By Majed
Most individuals are ineligible to file for anything other than a Chapter 7 liquidation or Chapter 13 repayment plan. However there is another Chapter available for individuals. Chapter 12 is ...
Continue reading "Can an Individual File a Bankruptcy other than Chapter 7 or 13?" »
Posted on Aug 24, 2011 By Majed
Absolutely. Going to school has no impact on your eligibility to file for Chapter 7 or 13 (unless of coursed you have not reached the age of majority). There are some things that students may want to ...
Continue reading "I am a student ... Can I file bankruptcy?" »
Posted on Aug 22, 2011 By Majed
As long as you have breath in your body, it is never too late for a fresh start! Many older individuals are plagued with the possibility of leaving behind a legacy of indebtedness for their loved ...
Continue reading "Am I Too Old To File Bankruptcy?" »
Posted on Aug 19, 2011 By Majed
It's not important that your trustee know your first puppy's name but it is important that they know if you have ever filed bankruptcy before. Below is an abbreviated list of things your trustee ...
Continue reading "What Your Trustee Needs to Know" »
Posted on Aug 17, 2011 By Majed
No. Filing for bankruptcy alone does not preclude you from staying in your apartment. Assuming that you were making timely rent payments prior to the bankruptcy, you may assume your lease contract in ...
Continue reading "Do I Have to Move Out of My Apartment if I File Bankruptcy?" »
Posted on Aug 15, 2011 By Majed
We live in a do-it-yourself (DIY) society. In the YouTube age anyone can feel like a professional. Hairdressers, mechanics, and carpenters no doubt make the bulk of their earning repairing DIY ...
Continue reading "Avoid the Perils of Pro Se Bankruptcy" »
Posted on Aug 12, 2011 By Majed
When a debtor files for bankruptcy, regardless of the chapter and whether the debtor is an individual or entity, a bankruptcy trustee is assigned to that filing. The trustees are assigned randomly by ...
Continue reading "Who Chooses The Bankruptcy Trustee?" »
Posted on Aug 10, 2011 By Majed
Many people in today's economy are unemployed or underemployed, however they do receive some money to survive. Whether this is unemployment benefits or side gigs here and there we all need money to ...
Continue reading "I Am Unemployed: Can I File Chapter 13?" »
Posted on Aug 8, 2011 By Majed
Perhaps the reason you have not consulted an experienced attorney about your debt woes is that you are afraid to file bankruptcy. It's not secret that bankruptcy is a dirty word in the media. ...
Continue reading "What Are You Afraid Of?" »
Posted on Aug 5, 2011 By Majed
You've maxed out your credit cards, taken out a second mortgage and depleted your savings. Mom, Dad and Grandpa are starting to ignore your phone calls, assuming you are going to ask for money. ...
Continue reading "How Long Should I Wait Before Filing Bankruptcy?" »
Posted on Aug 3, 2011 By Majed
There are a number of married couples who keep their finances separate. Dad pays the mortgage, mom pays the utilities. However, this may not be a compelling enough reason to file separate ...
Continue reading "Should My Spouse and I File Separate Bankruptcies?" »
Posted on Aug 1, 2011 By Majed
Several studies have found links between debt and physical illness. A study conducted by USA Today in 2008 found that those suffering from debt-related stress suffered any number of physical ...
Continue reading "Debt Can Be Bad For Your Health" »