The headline was compelling: The 5 Dumbest Things You Can Do If You Have Too Much Debt. I even liked the site’s name: How Life Works. That’s a tagline I’d like to use. I could make my own list of dumb ways to tackle debt, but better if someone else had already done it. Until […]
Do I Have To File Bankruptcy Before There’s A Judgment?
Can I discharge a judgment once it’s entered, was the first question the caller asked. Do I have time to file bankruptcy? The caller was sure he had to file bankruptcy before the court entered judgment or he’d be stuck with the judgment forever. Not so. Bankruptcy discharges judgments. And, a judgment in California does not […]
7 Essentials For Better Results From Filing Bankruptcy
Plan before filing bankruptcy and you get better, more certain relief. Even if you’re not quite sure that you’re ready to take the bankruptcy plunge, scout the bankruptcy territory. Take some time to learn the rules and explore ways to maximize the relief available in bankruptcy. If you don’t plan ahead and just rush into […]
Are You Better Off With Bankruptcy?
Who cares whether bankruptcy filings are up or down? Bankruptcy professionals, certainly. Economists, probably. But if it’s you and your checkbook, you take little comfort that lots of others are filing. Nor, when everyone else seems to be making it OK while you flounder, are you reassured. My colleague Wendell Sherk is right about bankruptcy […]
Surefire Steps To Avoid Bankruptcy
Most people would rather parade naked down Main Street than file bankruptcy. Bankruptcy makes them feel exposed, defeated, ashamed. They’ll do anything to avoid bankruptcy. If you don’t want to go there, you can order your life so you don’t ever need bankruptcy relief from debts you can’t pay. I’ve figured out the formula that assures […]
Damaged Credit Reports Heal
Will filing bankruptcy hurt my credit? Probably. Should that hit to your credit keep from filing bankruptcy? Not by a long shot. Incredibly, I encounter people drowning in debt who think their credit report is more important than their financial health. Their thinking seems to be that credit, once damaged, is never the same. It’s not […]
What Happens To My Stuff In Different Bankruptcy Chapters
Will it be Chapter 7 v. 13? After you’ve made the decision to get a fresh start, you need to choose a bankruptcy chapter, usually Chapter 7 or Chapter 13. The choice of chapter is complex, involving many interconnected factors. Here we’re going to compare just the treatment of different kinds of assets in Chapter […]
Consider The Clawback of Pre-bankruptcy Transfers Before Filing
If you don’t understand clawback in bankruptcy, you might think that bankruptcy involves only what you have when you file. But that’s not how it works. Bankruptcy law gives a bankruptcy trustee to power to unwind transactions and transfers that diminish what the debtor has on the day the case is filed. The idea is […]
Hold Or Fold? How To Decide If Filing Bankruptcy Is Right For You
You’ve got to know when to hold ’em, know when to fold ’em; know when to walk away, know when to run… So goes the gambler’s advice to the young card player in the hit Kenny Rogers song. Hum along as we think about how we play our cards when we’re in debt: the hardest call is […]
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