The SBA has eagle eyes and sharp talons when it comes to collecting from guarantors of business loans. SBA collection rights are ruthless, efficient, and ageless. So I learned when a client consulted me about a business that had failed 12 years ago. Yet the SBA had never sued him, nor had it filed a […]
Better Credit After Bankruptcy: Does Reaffirming A Car Loan Help?
Does reaffirming a car loan after bankruptcy help rebuild your credit? Rebuilding credit is the motivation that drives lots of debtors to waive the benefits of their discharge as to a car loan. A reaffirmation agreement has the debtor agreeing to be personally liable after the bankruptcy discharge for the car loan balance. Miss payments […]
How to Screw Up Your Bankruptcy
Transferring assets to others on the eve of bankruptcy is the single, easiest way to mess up your bankruptcy case. Everyone seems to think If an asset isn’t titled to you, it does not have to be disclosed in a bankruptcy filing. I hear it and see it in action, again and again. If it […]
What Happens To Cash In Bankruptcy?
How much cash can you keep when you file bankruptcy? It’s not as though you won’t have living expenses after you file bankruptcy. You need to know how you’ll manage and what you’ll have to manage with. Funding that fresh start is what exemptions are all about. We are talking here about California because exemptions, […]
10 Must-Know Things About Money Judgments
What does it mean when a money judgment is entered against you in a lawsuit? It’s not the end of the world, but it has serious financial repercussions. Here are 10 critical things you need to know about legal judgments. More What to do when you’ve been sued Fighting a wage garnishment Protecting your assets […]
Is Your Choice Of Bankruptcy Chapters Really Dictated By Your Stuff?
Through my Twitter feed came a link to the pro’s and con’s of filing bankruptcy from the business section of the Chicago Tribune. Good chance to see how non lawyers see my world, I thought. Bankruptcy was all about protecting “stuff”, said the writer, and the choice of chapters is driven by the kind of […]
Earmark Tax Payments To Get Proper Credit
Get proper credit for tax payment by earmarking. That way, you can tell the IRS how to apply any payment you make voluntarily. Earmarking your check requires them to skip their rules and apply the payment to the tax you direct. Bravo for a small measure of taxpayer control. The term “earmarking” traces to the […]
Can you file bankruptcy tomorrow?
Most people clearly have little sense of how long it takes to file bankruptcy. Proof is what happened Monday: there’s an email the morning’s inbox from a client whom I first met weeks ago. He tells me they want to file before Wednesday’s mediation in state court! I have no creditor information, representation agreement, money, […]
Who Profits When Money Trouble Is Shameful?
Talking about our financial troubles is taboo in this society. In fact, we are more willing to talk about our sex lives than our money troubles. We lionize those who make a fortune. Everyone expects to live the middle class life. It becomes easy to think that something is wrong with you if you aren’t […]
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