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 […]
Does My Bankruptcy Lawyer Need To Be From My City?
If you’re inclined pull up a map application to find a bankruptcy lawyer, I gotta ask: is proximity really the most important factor? Not by a mile. You want an experienced, local lawyer, but “local” means active before the judges in the federal judicial district where you live. It doesn’t mean having an office around […]
Doing The Means Test Yourself
Posts on internet bankruptcy boards feature individuals who have “filled out the means test” and then proceed to announce their conclusions. Given the uncertainties in the legal community about how to apply the means test, I can’t imagine a non lawyer learning anything reliable from trying to do this themselves. As a certified bankruptcy specialist, I […]
Bankruptcy Alphabet: K Is For Keep
The letter K is for the stuff you keep through bankruptcy. The cartoon image of someone going through bankruptcy has them wearing a barrel instead of clothes. It’s a funny image but it’s not real. Most debtors keep far more of their assets than you’d image. Here’s why. Exemption law protects assets The Bankruptcy Code […]
Can A Trust Protect You In Bankruptcy?
Can a living trust protect your assets in bankruptcy? Or, anywhere else? According to the lawyer advertising and the self-help books, everyone needs a living trust. The asset protection industry loves irrevocable trusts, another much touted trust. An irrevocable trust gets assets out of your name for all time. Unless of course, they are attacked in […]
How To Pay For Bankruptcy When You’re Flat Broke
One of the cosmic ironies of our legal system is that it costs money to file bankruptcy. Bankruptcy gets you out of debt only if you have the money to file. The costs of bankruptcy include the filing fee collected by the court; the required credit counseling; and, if you’re smart, an experienced lawyer to […]
How Long Does Bankruptcy Take?
Every client filing bankruptcy asks that question: how long will bankruptcy take? Probably, the real question is “when will this be over?” Like so many questions in the law, the answer is “it depends.” From filing bankruptcy to discharge In a Chapter 7, filing to discharge is about four months; in Chapter 13 it’s three […]
What Happens To Liens In Bankruptcy?
While most liens survive a bankruptcy discharge, some liens get wiped out. Think of mortgages, tax liens, and judgment liens. Each of them is a lien, but some get different treatment in bankruptcy. Some liens can even be reduced or eliminated . Lien basics A lien gives the creditor holding the lien an interest in […]
Chapter 13 Keeps You In Control
You can’t decide between bankruptcy chapters until you really understand how Chapter 13 works to keep you in control. Control of your assets, control of your payment plan, control of who gets paid. You want to be at the helm of your case. Chapter 13 can do that. Chapter 13 protects more than assets Chapter […]
- 1
- 2
- 3
- …
- 11
- Next Page »
