Is Filing Bankruptcy Bad?
In almost all of the conversations I have with people about bankruptcy, the overriding sentiment is that the bankruptcy process is a bad and embarrassing thing, and should only be an option when someone has hit rockbottom. When you speak with people who have obtained their bankruptcy discharge, they are likely to share that the […]
KEEP READING . . .What are the different types of bankruptcies?
Bankruptcy appears in the news quite a bit, especially in today’s COVID-19 climate. Particularly chain businesses have closed down and filed for bankruptcy. That kind of bankruptcy, however, is usually different from the kind of personal bankruptcy case that most people will file. So, what are the different types of bankruptcies?
KEEP READING . . .How Chapter 13 Bankruptcy Works in Queens
Bankruptcy cases fall under the Bankruptcy Code, 11 U. S. C. Section 101, et seq. This is federal law. Notwithstanding, state and local laws intertwine with each and every bankruptcy case. Additionally, there are several differences between chapter 7 bankruptcy versus chapter 13 bankruptcy. In this article, we will take a look at how chapter […]
KEEP READING . . .How much does it cost to file bankruptcy?
When you’re dealing with debt, you may feel that you’re in tough and lonely place. Debt takes a heavy toll on people – on their mental health, their physical health, their emotional and spiritual health. Fortunately, bankruptcy is an option for many people. So if that’s you, one of the first questions you may have […]
KEEP READING . . .Can I file for bankruptcy if I use my home for AirBNB?
Filing for bankruptcy as a homeowner can be a frightening thought because, well, you don’t want to lose your home. Especially if your home produces income, such as with AirBNB, can you file for bankruptcy?
KEEP READING . . .When you have debt, what to do: Debt Consolidation vs Bankruptcy
If money is tight for you, and you’re struggling with your debt, you may be looking to take action. Bankruptcy, it seems, is the “last resort” for people (which I don’t think it should be – bankruptcy can be used strategically). You see commercials for debt consolidation programs that offer low monthly payments to get […]
KEEP READING . . .In Bankruptcy, Creditor Must Prove Sufficient Fraud Facts to Have a Debt Declared Nondischargeable
Bankruptcy can offer debtors incredible relief when successful. Debtors that may have overextended themselves, but then came under hard financial times are often reluctant to file because they are highly optimistic that the can recover and return to better financial times. Often, though, the hole they find themselves in tends to get deeper. For creditors […]
KEEP READING . . .Avoid Judgments against Property in Bankruptcy (Equity not required!)
One really powerful goal that people (particularly homeowners) can try to accomplish in a bankruptcy case is “avoiding liens.” When a lien is avoided, it basically means that it’s status as a secured obligation is undone, and the result is that the balance owed is a (usually) an unsecured claim, like most credit cards or personal […]
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