Blog Posts in July, 2011
Posted on Jul 29, 2011 By Majed
Like many people, you may be underwater on your mortgage and considering bankruptcy to stop foreclosure. This is a very sensible option for many who want to keep their homes. However, what happens ...
Continue reading "What Happens to My Mortgage After Chapter 7?" »
Posted on Jul 27, 2011 By Majed
No. Bankruptcy is not grounds for barring individuals from government services, such as government backed student loans and aid programs like Medicaid. Bankruptcy discrimination is prohibited by ...
Continue reading "Will Bankruptcy Make Me Ineligible For Government Benefits?" »
Posted on Jul 25, 2011 By Majed
Every entrepreneur knows that business ebbs and flows. One day you can be overwhelmed with customers and potential new business and the next day you can hear crickets in the office. Sometimes ...
Continue reading "Can Bankruptcy Help Me Downsize My Small Business?" »
Posted on Jul 22, 2011 By Majed
A debtor's ultimate goal and whole purpose of filing Chapter 7 is to receive a discharge. A discharge is the action that marks the end of a debtor's legal obligation to a creditor for a debt. Once the ...
Continue reading "What Happens When I Receive My Discharge?" »
Posted on Jul 20, 2011 By Majed
Small business owners were one of the most adversely affected groups by the most recent economic downturn. A series of forfeited payments from customers and clients alike, many of them facing their ...
Continue reading "Small Business Bankruptcy" »
Posted on Jul 18, 2011 By Majed
With the bankruptcy filings of massive companies such as General Motors and ----, it is not uncommon for a small business person or even an every day consumer, to be a creditor in a bankruptcy filing. ...
Continue reading "Does Being a Creditor in one Bankruptcy Keep me From Filing my Own?" »
Posted on Jul 15, 2011 By Majed
Contrary to popular belief how soon you can file bankruptcy is determined by how long ago you filed and what chapter, not where you filed. Whether you file bankruptcy in Nevada or Texas, federal rules ...
Continue reading "I Already Filed Bankruptcy in Another State ... How Soon Can I File in Texas?" »
Posted on Jul 13, 2011 By Majed
Yes. A criminal record does not prohibit a debtor from filing bankruptcy. In fact, the judge or trustee would not look up your criminal record. Therefore, they would not be aware of a criminal record, ...
Continue reading "I Have a Criminal Record. Can I File Bankruptcy?" »
Posted on Jul 11, 2011 By Majed
Firstly, anyone has a right to file bankruptcy in the United States (presuming you have not previously filed within a certain time window or defrauded the system). You have the right to choose ...
Continue reading "What Are My Rights as a Debtor?" »
Posted on Jul 8, 2011 By Majed
Sometimes debtors who were in a position to repay a portion of their debt find themselves unable to complete the process during the course of a Chapter 13 repayment plan. Because an individual's home, ...
Continue reading "What Happens if I Default on a Chapter 13?" »
Posted on Jul 6, 2011 By Majed
According to a poll conducted by filingforbankruptcyonline.com, most people who filed for bankruptcy in recent years are between the ages of 35-44 and have at least some college. Perhaps most ...
Continue reading "Whose Filing Bankruptcy? You Might Be Surprised" »
Posted on Jul 4, 2011 By Majed
There are a combination of ways trustees receive payment in a Chapter 7. Firstly, the trustee receives a portion of your Chapter 7 filing fee. In some cases where a Chapter 7 debtor has assets that ...
Continue reading "How Does My Chapter 7 Trustee Get Paid?" »
Posted on Jul 1, 2011 By Majed
Yes and no. Certain debt is excluded from discharge absent extenuating circumstances, such as debt to the federal government in the form of student loans and federal taxes. However, the vast majority ...
Continue reading "Does it Matter How I Came Into Debt?" »