http://www.youtube.com/watch?v=oFje0NYRV7w . Understandably, this is one of the most common questions we get and it’s a good one! With the economy being in such a downturn, this is often one of the first questions asked, and for many, it’s the most important. “If I can’t pay my bills, how can I afford to pay you?” … Read more
http://www.youtube.com/watch?v=x5ZXRGROQd0 Depending on which bankruptcy you file, bankruptcy may lower your monthly payments for a car but will not lower your payments for a house. A Chapter 7 bankruptcy will not lower your monthly payments but you will be wiping out all of your other debts and will no longer be charged interest and late … Read more
http://www.youtube.com/watch?v=3YNFiDhTBAw . Whether filing for a Chapter 7 bankruptcy or Chapter 13 bankruptcy, there are certain debts that you may not discharge when filing your petition. These debts include the following: Federal taxes and state taxes are typically not wiped out in bankruptcy. Any type of lien issued by the government is not eligible to … Read more
If you have filed for bankruptcy, or you are about to, you may be feeling nervous about your creditors' meeting. One of the most common questions we hear is simple but important: "What should I wear?" You want to make a good impression. You do not want to do anything wrong. That worry is normal. … Read more
http://www.youtube.com/watch?v=NJEk651CFqE Once you file a bankruptcy, an automatic stay goes into effect. This automatic stay states that no creditor can try to collect any debt from you; according to statute 11 U.S.C § 362 (6), “any act to collect, assess, or recover a claim against the debtor that arose before the commencement of the … Read more
The short answer is no, you do not have to pay taxes on debts that are wiped out in bankruptcy. Quite often those trying to decide between bankruptcy and some type of debt consolidation will look to see which option will be most advantageous for them when it comes to tax implications. Usually, filing bankruptcy … Read more
Forgetting to list a debt in your bankruptcy is one of the most common worries people have. You are juggling bills, paperwork, and stress. It is easy to overlook one credit card or one old medical bill. Here is the good news. Leaving a creditor off your bankruptcy usually is not a disaster. In most … Read more
http://www.youtube.com/watch?v=0JKDwQe-6oU . Every potential bankruptcy client has a different amount of debt owed. Even the type of debt varies from debtor to debtor – some debtors have almost all credit card debt, while others may have almost all medical bills. A common question that potential bankruptcy clients have is whether their bankruptcy will be denied … Read more
Surprisingly, being a citizen of the United States is not required to file for bankruptcy. The U.S. Bankruptcy Code does not have a citizenship requirement. However, you still need to establish residency in the state where you plan to file bankruptcy.
Yes, once a person has case number after filing either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, a creditor is prohibited from trying contact the debtor in any attempt to collect a debt.
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