Blog Posts in September, 2011
Posted on Sep 30, 2011 By Majed
Yes. In order to file for bankruptcy, whether it is Chapter 13 or Chapter 7 a debtor must lists all of his assets, completely and truthfully, when filing. If you regularly receive money from any ...
Continue reading "Are my Social Security payments considered income?" »
Posted on Sep 28, 2011 By Majed
No. This question is most commonly asked by parents who have co-signed for a vehicle for a child. An item you co-signed for is not a part of the bankruptcy, unless the primary account holder also ...
Continue reading "I am a Co-Signor on a Secured Loan ... is it included in my bankruptcy?" »
Posted on Sep 26, 2011 By Majed
If this sounds odd it is understandable. For years bankruptcy has been tantamount to a 4 letter word. However, bankruptcy can improve your credit standing for several reasons. Firstly, if you are ...
Continue reading "Bankruptcy Can Improve Your Credit Standing" »
Posted on Sep 23, 2011 By Majed
According to a recent news report by USA Today, Americans are facing a poverty rate of 15% or 46 million Americans, the highest since 1993. And many of these people are former middle-class. The most ...
Continue reading "The New Poor Middle Class" »
Posted on Sep 21, 2011 By Majed
Yes. You may pay your bankruptcy attorney in installments. In fact, most bankruptcy attorneys understand the dire financial straights their clients are in and make affordable payment plans for the ...
Continue reading "Can I Make a Payment Plan for Attorneys' Fees?" »
Posted on Sep 19, 2011 By Majed
Believe it or not there are people who file bankruptcy more than once. Therefore, the federal courts have set guidelines regarding how often someone can file bankruptcy. The time frames indicated ...
Continue reading "Can I File Bankruptcy Again?" »
Posted on Sep 16, 2011 By Majed
Working full-time does not automatically preclude you from filing Chapter 7 bankruptcy. Bankruptcy courts determine eligibility for filing Chapter 7 by utilizing something called the means test. There ...
Continue reading "I Have a Full-Time Job - Can I File Chapter 7?" »
Posted on Sep 14, 2011 By Majed
A recent study finds that this is more and more likely. Generations ago, joining the military and/or securing a labor position at a local plant guaranteed upper-middle class income for most Americans. ...
Continue reading "College Degree = Bankruptcy?" »
Posted on Sep 12, 2011 By Majed
According to a recent study published by the Institute of Financial Literacy of bankruptcy debtors between 2006-2010, Americans earning $60,000 or more annually increased their rate of filing by more ...
Continue reading "Bankruptcy Filings Increase Among the Upper-Middle Class" »
Posted on Sep 9, 2011 By Majed
You are not alone. Many Americans have used payday loans at one time or another, despite their unfathomable interest rates. So many Americans, in fact, have fallen pray that congress members in ...
Continue reading "In over your head with payday loans?" »
Posted on Sep 7, 2011 By Majed
Chapter 13 repayment plans are based on a debtors income and debt at the time he or she files for bankruptcy. Typically, these repayment plans range from three to five years and are the same ...
Continue reading "What Happens if you lose income while in a Chapter 13 Repayment Plan?" »
Posted on Sep 5, 2011 By Majed
Three short years ago Michael Vick (quarterback for the Philadelphia Eagles) hit what many would consider rock bottom. After a very public run in with the law, and serving a 21 month long jail ...
Continue reading "What Debtors Can Learn From Michael Vick" »
Posted on Sep 2, 2011 By Majed
Sometimes hard-working individuals allow their finances to overtake them because they do not perceive bankruptcy as honest. Most people are raised to pay their debts, so for some bankruptcy is counter ...
Continue reading "Honest People File Bankruptcy" »