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Bankruptcy Basics

Hidden Traps of Credit Unions When Filing Bankruptcy

March 25, 2011

When it comes to banking accounts and financing a loan, credit unions are often a highly sought-after source for mortgages, vehicle loans, and bank accounts. However, what you may not know about credit unions could come back to have negative consequences against you during and after your bankruptcy. Credit unions have become a sought-after banking … Read more

Bankruptcy Basics

What Is Income for Purposes of the Means Test?

March 23, 2011

Wait a second…I have to qualify to file bankruptcy? Isn’t it enough that I just simply cannot pay my bills? How do I determine whether or not I would qualify? The answer is simple enough: the Means Test. What is the Means Test you might ask? The Means Test is a formula used to determine … Read more

Bankruptcy Basics

Is My Tax Refund Protected in Bankruptcy?

March 21, 2011

Bankruptcy Basics

I’m Engaged, Will Bankruptcy Impact My Future Spouse?

March 18, 2011

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

Bankruptcy Basics

What is the Difference Between a Bankruptcy Discharge and Dismissal?

March 14, 2011

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

Bankruptcy Basics

Is Family Support Considered Income for Bankruptcy?

March 11, 2011

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

Bankruptcy Basics

How Do I Know If My 401(k) is ERISA Qualified?

March 9, 2011

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

Bankruptcy Basics

I Recently Financed a Purchase, Can I File Bankruptcy?

March 7, 2011

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

Bankruptcy Basics

How Does the Bible View Bankruptcy and Debt?

March 4, 2011

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

Bankruptcy Basics

How Long Do I Have to Leave My House After Filing Bankruptcy?

February 28, 2011

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

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