Blog Posts in March, 2011
Posted on Mar 30, 2011 By Majed
Absolutely! A typical debtor owes money to various creditors and is constantly paying bills late, leading to late fees and oftentimes collection status and repossession. This constant negative ...
Continue reading "Can Filing Bankruptcy Actually Help My Credit?" »
Posted on Mar 28, 2011 By Majed
Possibly. The bankruptcy code stipulates that an inheritance bestowed upon a debtor within 180 days of a bankruptcy filing will become the property of the bankruptcy estate. The clock starts on the ...
Continue reading "Can My Creditor’s Reach my Inheritance?" »
Posted on Mar 25, 2011 By Majed
Yes. A self-employed person who meets the Chapter 13 eligibility requirements may file. Simply being self-employed does not preclude one from filing. However, you must pass the same eligibility test ...
Continue reading "I am Self-Employed: Am I Eligible to File Chapter 13?" »
Posted on Mar 23, 2011 By Majed
When one hears the word "bankruptcy"the image of a fun and vibrant social life do not come to mind. In fact, many may associate "bankrupt" with destitute, no money or income. However you do not stop ...
Continue reading "Does My Social Life have to end with Bankruptcy?" »
Posted on Mar 21, 2011 By Majed
There is a common misconception that one must look "poor" in order to file a Chapter 7 bankruptcy. Meaning they must not maintain their current standard of living in order to file. This is absolutely ...
Continue reading "Must I Look "Poor" to File Chapter 7?" »
Posted on Mar 18, 2011 By Majed
A schedule is an individual document that is filed along with the original bankruptcy petition that lists out what financial effects an individual has. This includes assets, liabilities and income. ...
Continue reading "What is a Bankruptcy Schedule?" »
Posted on Mar 16, 2011 By Majed
8 U.S.C. § 586 and 11 U.S.C. § 101 of the bankruptcy code establish the U.S. Trustee Program as a federal agency that is responsible for the execution of bankruptcy cases. The program and the ...
Continue reading "What is the U.S. Trustee Program?" »
Posted on Mar 14, 2011 By Majed
For a debtor filing for Chapter 7 bankruptcy, obtaining a discharge is like the Holy Grail. It is the ultimate goal and purpose for filing for bankruptcy liquidation - to be legally absolved from your ...
Continue reading "Before the Discharge: What to do in the Meantime?" »
Posted on Mar 11, 2011 By Majed
Yes. The bankruptcy code does not require full-time employment in order to file Chapter 7 or 13. Any debtor may file whether he/she works part-time, is unemployed or is earning a full-time income. The ...
Continue reading "I Work Part-Time; Can I File Bankruptcy?" »
Posted on Mar 9, 2011 By Majed
Welcome to Texas! In order to file for bankruptcy in a particular state, the code requires that a debtor must have spent the greater part of the last 180 days there. Simply put an individual wishing ...
Continue reading "I’m Moving to Texas Soon ... When Can I File Bankruptcy?" »
Posted on Mar 7, 2011 By Majed
According to Zillow.com’s fourth quarter Real Estate Market Reports, home values fell 2.6%, the sharpest decline since 2009. This decline was driven by rising foreclosures, as well as the end of the ...
Continue reading "Home Values See the Sharpest Decline Since 2009" »
Posted on Mar 4, 2011 By Majed
If you are in dire financial straits and in risk of losing your home, car or otherwise in financial peril, it is never a bad time to file for bankruptcy. Bankruptcy protection is an individual ...
Continue reading "The News Media says the Economy is Recovering: Is This a Bad Time to File Bankruptcy?" »
Posted on Mar 2, 2011 By Majed
Filing for Chapter 7 or Chapter 13 bankruptcy typically does not affect unemployment benefits. An individual who is receiving unemployment benefits may not be discriminated against because he/she has ...
Continue reading "Unemployment Benefits in Bankruptcy" »