How Bankruptcy Empowers
August 12, 2011
If you are struggling with debt, chances are you are feeling powerless. Collection agents are skilled at making you feel stressed and hopeless through embarrassing phone calls at work and home; threatening letters; and sometimes legal action. The collection companies want you to feel that your only choice to stop the harassment is to “pay up.” Fortunately, there is another option. The federal bankruptcy law...
Can I Keep A Credit Card If I File Bankruptcy?
August 8, 2011
Many bankruptcy debtors need a credit card for work. Whether it is necessary for business purchases or travel, it is common for a debtor to ask, “Can I keep one of my credit cards?” The answer to this question depends on a few circumstances. First, is there a balance on the card? If your card balance is zero on the day that you file...
Are You A Bankruptcy Worrywart?
August 5, 2011
Wor*ry*wart – noun: a person who is inclined to worry unduly. Some clients are content to turn over their financial problems to a bankruptcy attorney and experience immediate peace of mind. Others cannot stop worrying until the case is discharged and closed. Everyone is different. Fortunately, most bankruptcy cases are very predictable. Before the case is filed your bankruptcy attorney should explain the process and...
What is a Bankruptcy Estate?
August 3, 2011
When you file either a Chapter 7 or Chapter 13 bankruptcy case, a “bankruptcy estate” is automatically created. The Bankruptcy Code defines the bankruptcy estate very broadly, and includes all of your legal or equitable interests in property. Your bankruptcy estate is the first step in determining what (if any) assets are available to pay creditors, and the administration of the bankruptcy estate is supervised...
How Bankruptcy Affects Co-Signors
August 1, 2011
Clients are often pleased to learn about one of the bankruptcy law’s most powerful protections: the automatic stay. When a bankruptcy case is filed, the debtor receives immediate protection from creditor collection actions. This relief is known as the “automatic stay” because it immediately stops lawsuits, telephone harassment, and other attempts to collect on a debt. The automatic stay continues throughout the bankruptcy case until...
Why Should I Hire a Bankruptcy Attorney?
July 29, 2011
Years ago, few attorneys specialized in any particular area of the law. These "general practitioners" handled criminal cases, family law matters, real estate disputes, and a host of other complex legal matters. Today law schools teach aspiring attorneys the general principles in many different legal disciplines, and the bar exam tests the basic knowledge of these subjects. However, the idea of the "general practitioner" is...