News and Resources
Chapter 13 is Not Usually the First Choice
Chapter 13 is not usually the first choice for those who need to file bankruptcy. Chapter 7 is, and as a result the most popular form of bankruptcy. Chapter 7 is the fastest, easiest, and least expensive form of bankruptcy. Chapter 13 if often used by people who for...
Big Changes May be Coming for Those with Student Loan Debt
The American Bankruptcy Institute has encouraged Congress to reform the way student loans are dealt with in bankruptcy. Since the Bankruptcy Code was enacted in 1978, several amendments have made it more and more difficult to discharge student loans. Now our country...
Credit Cards After Bankruptcy
Many of my clients ask me if they will be able to have credit cards following a bankruptcy. My answer is always “yes." This week several of our clients who had filed bankruptcy received pre-qualification offers for a Capital One credit card account. The account would...
Should I Co-Sign a Loan for My Child?
Generally, no. You have gotten your own financial house in order, and should not risk that stability by placing it in the hands of another. When you co-sign or guarantee the debt of someone else, you are subjecting yourself to the risk that they cannot or will not pay...
Do I Want the Value of My Home to Be Low?
This is a question we often get from clients. We explain to them that bankruptcy is an intensive information gathering exercise and that it is really all about disclosure on their parts. Bankruptcy provides a fresh start, but to get that fresh start the debtor must...
Great news for struggling businesses
The COVID-19 Bankruptcy Relief Extension Act of 2021 was signed this week. This law extends the $7,500,000 debt cap for businesses under the Small Business Reorganization Act of 2019 (SBRA). The extension will last for one additional year, to March 27, 2022. The Act...
Single Women and Financial Protection
Recently I was asked to give advice about how single women can protect themselves from financial downturns and unexpected problems. These problems might arise from an illness or injury, from a loss of a job or income, from being sued and having a judgment placed, or...
Pi(e) Day and Bankruptcy
March 14, coined “Pi Day” since physicist Larry Shaw started the day back in 1988 to celebrate the famous number (and recognized officially since 2009 when the US House of Representatives passed a resolution honoring the day), is often celebrated in the U.S. not by...
COVID Spurs Business Interruption Insurance Claims
The pandemic and its related shutdown orders have cost businesses trillions of dollars. They have also sent business owners scurrying to review their insurance policies. Many are not making business interruption insurance claims. Business interruption coverage occurs...
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