You can stop a debt collector cold, wherever you live, using federal law. It doesn’t take a lawyer, a court, or an enforcer. That’s because the weapons of a debt collector are fear, shame, and annoyance. The weapon delivery system is communication. Those weapons don’t have to be any more threatening than a plastic toy […]
The Biggest Bankruptcy Mistake You Can Make
The biggest bankruptcy mistake has nothing to do with choice of chapter, exemptions, disclosure, or attorneys. It has to do with timing. The biggest bankruptcy mistake is waiting too long to consider bankruptcy. Time is seldom your friend What’s wrong with letting time pass before making a momentous decision? Doesn’t time heal most wounds? No, […]
Laboring Over Bankruptcy Papers
Why is preparing the bankruptcy papers so much work? Paper. Statements. Tax returns. Car contracts. Pay stubs. Appraisals. Title reports. Credit counseling. It gets tedious fast. So, why is bankruptcy so complicated? Do you want the polite, professional answer, or the pointed, political answer? Bankruptcy bargain Polite answer first: the bankruptcy bargain, your deal with the […]
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 […]
Debt Actually Makes You Stupid
It’s easy to tell ourselves that getting into debt was stupid. Maybe, maybe not. Lots of debt happens without making bad decisions. Think of medical bills. Natural disasters. Divorce. But regardless of how you got in debt, there’s more bad news. Just being in debt makes you stupid. Stupid, as in, your IQ goes down […]
Who Cares About Your Spending Before Bankruptcy?
Worried about using credit cards before bankruptcy? Afraid of prejudicing your bankruptcy case by spending money before you file? Do you imagine some authority figure deciding that your financial behavior in the run-up to bankrupcy bars you from relief? Take a deep breath. That’s not how it works. Let’s look at what matters and what […]
What Is The Bankruptcy Trustee Looking For
What’s the bankruptcy trustee looking for when you submit your bank statements before the 341 meeting? Let me tell you what the trustee isn’t looking for: trustees don’t care if you bought the premium brand of coffee; paid for your kid’s sports team; fixed broken appliances; went on vacation; or bought concert tickets. No part […]
When Bankrupting The Business Doesn’t Protect The Owner
“I want to file bankruptcy for my business, but I don’t need a personal bankruptcy”. I’ve had 2 such calls to my law office in just the last week. And in each case, bankrupting the business corporation will not solve the debt situation. Here’s why. The underlying problem is that the individual owner is personally […]
Fear keeps folks from bankruptcy relief
Fear of bankruptcy is both common and necessary. Those who aren’t living the American dream of upward mobility and financial security seem to think that’s a matter for shame. Perhaps the second most frequent question would-be clients ask me is whether the fact that they filed bankruptcy will be [The answer is that it’s unlikely.] […]
Will recent credit card use sink my bankruptcy
If I’ve used credit cards before filing bankruptcy, do I have to wait? Too many people considering filing think there is some sort of waiting period between financial activity and filing bankruptcy. So, let’s look at the issues in play surrounding recent credit card charges and seeking bankruptcy relief. There’s no 90 day rule Everyone […]
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