Blog , Business Debt , Credit & Credit Scores , Creditors & Credit Cards , General Bankruptcy
I have not heard from the credit card company I owe for a long time. Should I still file bankruptcy? Probably not, although you should make sure that you could file a bankruptcy promptly if the need arises. I spoke with a client earlier this week whose only significant debt is a single credit […]
Read MoreBlog , Debt Collection , Financial Problems
A 2014 report on holiday shopping plans and finances found that about 55% of the respondents reported that money was their main source of stress during the holiday season. Despite this, more than half of those people planned to use their credit cards for holiday shopping, and they plan to spend about as much money […]
Read MoreBlog , Credit & Credit Scores , Creditors & Credit Cards , Declaring Bankruptcy , Financial Problems , General Bankruptcy
We don’t talk about things that make us feel uncomfortable, and many people are very uncomfortable talking about their financial problems. Often, people with such problems will hide all evidence of financial distress. Some people do this with a misguided sense of protecting their loved ones. If I don’t tell my spouse about the problems […]
Read MoreBlog , Debt Collection , Declaring Bankruptcy , Financial Problems , General Bankruptcy
Yes. The court will mail a notice to all creditors. That notice will show the names of the debtor(s), the filing date, and the date set for the Meeting of Creditors. It will also show the deadline by which any creditor may file a request to have the discharge denied or to object to the […]
Read MoreBlog , Business Debt , Debt Collection , Declaring Bankruptcy , Financial Problems , General Bankruptcy
How can you tell if your debt is out of control? There are various signs that a person has too much debt. These indicators include the following: You don’t know the balances on your accounts. You have made minimum payments for three or more successive months. This signals an inability to reduce the […]
Read MoreBlog , Business Debt , Credit & Credit Scores , Creditors & Credit Cards , Declaring Bankruptcy , General Bankruptcy , Student Loans
I attend a lot of seminars and educational programs dealing with bankruptcy and related issues. Usually the information is valuable to my practice and to my clients, but I recently attended a seminar where an attorney stated to the audience that we should never advise our clients to incur debts while we are planning on […]
Read MoreBlog , Declaring Bankruptcy , Financial Problems , General Bankruptcy
No one answer fits all people or all situations. Like everything else, bankruptcy has both costs and benefits which should be evaluated. Know the effects of a bankruptcy before proceeding. There are, though, some fairly common questions which can help you assess whether you should further explore bankruptcy options: Do you only make minimum payments […]
Read MoreBlog , Business Debt , Debt Collection , Declaring Bankruptcy , Financial Problems , General Bankruptcy
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 […]
Read MoreBlog , Children & Heirs , General Bankruptcy
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 […]
Read MoreBlog , Foreclosure , Mortgages & Foreclosures
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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