Which Proceeding Should Be Initiated First? You're struggling to meet your financial obligations and your marriage is falling apart…it's a fairly common occurrence. Financial difficulties are a common contributor to marital strife, and relationship woes can often take a financial toll. When it's clear that you need the protection of the bankruptcy … [Read more...]
Wishing You And Yours A Merry Christmas & Happy New Year
December 24, 2021 by
We are sending holiday cheer to you in the hopes that you and your family have a very Merry Christmas and a healthy New Year. As we look forward to 2022 we humbly pray that the new year brings a new sense of peace and joy as we enter the new year ready for a return to normalcy and prosperity. Merry Christmas & Happy New Year … [Read more...]
Filing under Chapter 13 Instead of Chapter 7
December 8, 2021 by
Reasons to Choose a Reorganization over a Liquidation/Discharge There are two primary approaches to personal bankruptcy—the permanent discharge of certain debts under Chapter 7 in exchange for the transfer of unprotected assets to the bankruptcy court; or the reorganization/restructuring of personal debt in Chapter 13. With a Chapter 7, your debts … [Read more...]
Using Bankruptcy to Avoid Foreclosure
December 1, 2021 by
Can You Use Bankruptcy to Stop Foreclosure Proceedings? If So, How? You've lost your job because of the pandemic and you've fallen behind on your bills. You jump every time the phone rings, and you get nervous when the mail arrives, fearful that you'll have to talk to yet another creditor or read yet another threatening letter. You've missed a … [Read more...]
Should You File for Bankruptcy before You File for Divorce?
November 1, 2021 by
What Are the Pros and Cons of Filing a Bankruptcy Petition First? Because money problems are often a cause of marital strife, it's not uncommon for a person to be involved in a bankruptcy proceeding and a divorce proceeding within months of each other, or even simultaneously. If it's clear that your marriage has ended, but equally clear that you … [Read more...]
The Dismissal of a Bankruptcy Proceeding
October 21, 2021 by Leave a Comment
When Can It Happen and Why? You've lost your job, suffered an injury or illness, or taken a financial beating in a divorce, but you've concluded that your best path forward is a personal bankruptcy filing. Once you've filed, it's really just a matter of working through the process, right? Not necessarily—you need to be careful that you don't do … [Read more...]
Bankruptcy and Family Law Obligations
October 12, 2021 by Leave a Comment
Can You Use a Bankruptcy Filing to Manage Support Arrearages? The American bankruptcy laws were enacted to help people get a fresh start, to allow them to either discharge or restructure debt so that they could meet their financial obligations. What happens if one of your most significant arrearages is child or spousal support? Can you use the … [Read more...]
Keeping Your Car When You File for Chapter 7 Bankruptcy Protection
October 6, 2021 by Leave a Comment
The Automatic Stay | What If Your Lender Asks the Bankruptcy Court for Repossession? When you're struggling to make ends meet and have come to the conclusion that the best way forward is through bankruptcy, one of your first concerns will center on your property. With a Chapter 7 filing, you can permanently discharge or extinguish certain debts, … [Read more...]
The Impact of a Bankruptcy Filing on Your Bank Account
September 9, 2021 by Leave a Comment
Will the Bankruptcy Trustee Take the Money in Your Bank Accounts to Satisfy Creditors? You've been good at saving money and have a little stash in the bank. Then the unexpected happens…you run up extensive medical bills because of an injury or illness, or you lose your job, and bankruptcy is inevitable. You understand the value of that cushion in … [Read more...]
