Jul 29

Debt and Shame

Blog

Men are from Mars. Women are from Venus. But both men and women generally feel bad about carrying debt and not being able to pay it.  Most of us are brought up to pay our debts.  Our religious or moral code may reinforce this.  Above all, people feel embarrassed if anyone knows that their debts […]

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Jul 29

Should I deed my assets to my kids during bankruptcy?

Blog , FAQ

We get this question all the time, and advise our clients that gifts or transfers of assets to friends or relatives during bankruptcy may be the worst thing they could do.  Both you and the recipient might lose the asset and you might lose your right to a bankruptcy discharge. One purpose of the bankruptcy […]

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Jul 22

How Long Can I Stay In My Home When Foreclosure Starts?

Blog , FAQ

Most, if not all states, provide homeowners with a timeframe within which to cure their default.  And of course, appearing in the foreclosure suit will result in additional time prior to the entry of judgment.  Depending upon the facts, such as whether or not the lender really has the note and can prove the debt, […]

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Jul 08

Real Estate Professionals – Failure To Protect Assets

Blog

This may be a slightly different angle, but in my experience, real estate pros are far below average when it comes to retirement asset protection.  In 2008-2012, I was representing real estate pros who had net worth on paper of $10M, $20M, even $100+M shortly prior to retaining me.  They were meeting with me to […]

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Jul 01

What if I Forget to List a Creditor in My Bankruptcy?

FAQ

Forgetting a creditor when your bankruptcy case is pending If you learn or notice that a creditor is not listed while the case is pending, it is a more simple fix. An amendment may be filed. The filing fee for this amendment is $26.  Your legal fees will be a bit more, as the amendment […]

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Jun 25

How Much Credit Card Debt is Too Much?

Blog

I have represented thousands of people with too much credit card debt.  The reasons for the debt can vary greatly, from unplanned medical bills, to an abrupt loss of employment, to gambling problems.  Regardless of the reasons for the debt, there are various signs that a person has too much credit card debt.  These indicators […]

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May 16

Who Gets the House?

FAQ

The answer usually depends upon the intent and goals of the couple.  If one spouse wishes to remain in the house, that spouse will have to have the financial capabilities to do so. Refinance or sale is always an option, but it is not always possible to do so.  Typically, a divorce order might order […]

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May 16

What’s Your Number?

Blog

Excellent Credit Score

Many of my clients worry more about their credit scores than they need to. Credit scores can be important, however, and necessary if you want to borrow money to purchase a home or vehicle. There are even dating websites now for people who require a good credit score for their match. For example:  http://creditscoredating.com/ or […]

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May 10

What if I Lose My Job While My Chapter 13 Case is Pending?

Blog

We recently saw a situation where the debtor opted to file under Chapter 13 because of a problem qualifying for a Chapter 7 discharge.  That problem was that the debtor’s income exceeded $130,000 per year. After the Chapter 13 Plan was confirmed, the debtor lost his job.  His attorney amended the plan to reduce the […]

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