Getting engaged should be one of the happiest times in your life. But if you are carrying debt, that joy can come with worry. You may be asking yourself a hard question: if I file bankruptcy, will it hurt the person I love? You might fear your future spouse will get stuck with your debts. … Read more
Understanding Two Very Different Words If you are going through bankruptcy, two words can sound a lot alike but mean very different things. Those words are discharge and dismissal. They sound similar. But for you, they are almost opposite outcomes. A discharge is the good ending. It means your debts are wiped out. A dismissal … Read more
If you are thinking about filing bankruptcy, you have probably run into the word “income” again and again. You may also be confused about what counts. Maybe your family helps you pay bills each month. Maybe a parent, sibling, or close friend sends money to keep you afloat. Now you are wondering if that help … Read more
One of the most common fears people have when considering bankruptcy is losing their retirement savings. The good news: if your retirement account is ERISA-qualified, it is completely protected in bankruptcy — no dollar limit, no exceptions. Understanding whether your plan qualifies is an important first step before filing. What Does ERISA-Qualified Mean? ERISA stands … Read more
If you recently financed a purchase, e.g., a home, car, furniture or appliance, you should definitely speak with your attorney. Any purchase made within the 90 days prior to filing bankruptcy may be considered a fraudulent transaction. Depending on the amount of the purchase or how the funds were obtained to finance the purchase, the … Read more
One dilemma that Christians face as they contemplate how to handle their financial difficulties is: “What does the Bible say about finances and debt?” This can be a difficult question to find accurate answers to. Although Bible verses can be interpreted in many ways, we will review Bible verses that discuss this topic to allow … Read more
If you are filing bankruptcy and giving up your home, you are probably worried about one thing more than anything else. When will someone make you leave? You may be picturing a sheriff at your door the morning after you file. That is not how it works. This article explains how long you can usually … Read more
Often, when a person files bankruptcy, they are in one of four situations regarding a vehicle: They are behind on their payments and must surrender the car (this usually happens in a Chapter 7 bankruptcy). They drive an older vehicle that is paid off. They are borrowing a friend or family member’s vehicle. They are … Read more
When you file for bankruptcy, you have to count how many people depend on you for money. This sounds simple. But it can get confusing fast. Who counts as a dependent? Your kids? Your elderly mother who lives with you? A grandchild you help raise? This matters more than most people realize. The number of … Read more
A few years ago when your home had equity, you obtained a Home Equity Line of Credit or HELOC to consolidate your debt and payoff credit cards, medical bills, personal loans, etc. It seemed like a great idea because you could eliminate all of your revolving debt and make only two payments each month…your first … Read more
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