CBS’s article “How to prepare for credit card debt forgiveness this April” constitutes a serious disservice to its readers. It touts those debt foregivess programs who prey on the desire of most people to pay their debts to the extent they can, offering a supposed path out of debt that’s largely illusory. At bottom, the […]
What Happens To Your Business in Bankruptcy
Before you file bankruptcy, you need to know what happens to your business in your bankruptcy. And like so many things, there’s no single, simple answer. Two factors drive the fate of the business. One is whether the business is itself a legal entity, like a corporation or LLC. The second is what chapter you […]
Do You Qualify for Chapter 13: The Debt Limits
Chapter 13 debt limits are one of the eligibility requirements to file for this form of bankruptcy reorganization. The test has two prongs: unsecured debt and secured debt. Come in under each prong and you meet the debt limits test. For cases filed on April 1, 2025 and afterwards, the Chapter 13 debt limits are: […]
What You Think About Chapter 13 Is Dead Wrong
The difference between bankruptcy’s Chapter 7 and Chapter 13 is often expressed this way: Chapter 7 is a liquidation proceeding Chapter 13 is a repayment plan And therein lies the biggest misconception about Chapter 13: 13 does not necessarily repay everything you owe. It’s a repayment plan alright, but not necessarily a 100% repayment . […]
Debt Settlement Is A Dud
Debt settlement is often dangled in front of the financially challenged as an alternative to bankruptcy. Sounds good: making a deal with your creditors has enormous appeal when you can’t pay everything that you owe. And debt settlement companies count on it. The pitch for “settling your debts” touches a nerve. Almost everyone WANTS to […]
The Essential Step To Get Your Day In Court
When you’re sued on an old debt, it’s easy to imagine appearing on the court date to tell the judge your side of the story. You imagine the judge considering your argument and challenging the other side to prove otherwise. It’s a comforting image, but it will never happen if you haven’t taken the first […]
Information is power….become more powerful
In the information age, we’re inundated with information about bankruptcy. Some of it accurate and much of it nonesense or worse. Half the people who’ve filed bankruptcy wouldn’t dream of telling you about it, and those who do talk are as likely to spread outdated or erroneous information as accurate, relevant information. The more you […]
Debt Can Kill You If You Let It
Debt is deadly. There is a straight-line connection between debt and health: the stress of too much debt erodes physical health. The single largest source of stress in the US, at least before COVID-19, is money. Or lack of money. Other potent sources of stress include work, the economy, family and relationships. As a bankrutpcy […]
Resolve To Thrive In The New Year
May I suggest a 2025 New Year’s resolution? It doesn’t involve diets or workouts or commitments to huge personal transformation. Take a hard look at your financial situation. Consider whether a fresh financial start makes sense. Just getting by A life of minimum payments, minuscule bank accounts, and no retirement savings is a life fraught […]
The Secret Alternative To Bankruptcy
Looking for the secret alternative to bankruptcy which will solve your debt problems without filing? Why not? Ads for debt settlement companies and do-it-yourself books always promise to reveal the tricks to make your bills vanish for pennies, without resort to bankruptcy. (Isn’t it interesting that these “secrets” are known only by people who want […]
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