If you’re reading this blog post the chances are good that you have a Facebook profile or account. If so, you’re not alone. Recent statistics reported by The Blog Herald indicate that there are now over 500 million Facebook users. Of those 500 million users, half of those users log in to their Facebook account … Read more
In a previous blog post we have discussed how long filing a bankruptcy will impact your credit score. Today we are going to discuss how much filing a bankruptcy will hurt your credit score. The reality is, nobody knows exactly how much a bankruptcy will impact your credit score. There are five different areas that … Read more
Of course! The court does not expect everyone who files bankruptcy to be down, out, and unemployed. That’s just not how life works; our clients are good hard working people who have simply fallen on hard times. You may have a job and file a bankruptcy and in most cases unless you have signed something … Read more
The saying, “the early bird gets the worm” is not always the best advice to take. For example, if you have already consulted with your bankruptcy attorney and decided that once you file your bankruptcy you will be surrendering your vehicle, giving it up voluntarily before the bankruptcy is filed is not the best decision. … Read more
The short answer to the question is yes. When a homeowner is facing foreclosure they should immediately look at their options in filing bankruptcy. Whether you are looking into options for keeping the house or surrendering it, bankruptcy could very well be the best option for you. The hardest decision for most people comes down … Read more
The Rule 2004 Examination is adapted from the civil “discovery” process in a case. It allows debtors, bankruptcy Trustees and any other party in interest in a bankruptcy case to examine “any entity” (meaning whatever part of the bankruptcy and its dealings that they choose) as long as the examination relates to, according to Rule … Read more
Rental properties can be a great source of income until a renter moves without notice or fails to pay or that rental income starts to be used for your personal household expenses. As situations arise, many people are finding it necessary to file bankruptcy and surrender the extra properties and the mortgages that come along … Read more
The basic purpose of the Means Test is to determine whether a Debtor is eligible to file Chapter 7 bankruptcy. Along with other supporting requirements, the Means Test plays a major role in Chapter 7 bankruptcy. The Means Test also tells us whether a Debtor would need to pay back some of their debts in a Chapter 13 bankruptcy if they do not “pass.” Simply put, the Means Test determines the Debtor’s monthly income by taking the Debtor’s household’s gross income and subtracting qualified deductions. By doing this, we can decide whether the Debtor would need to be looking into filing a Chapter 7 bankruptcy or Chapter 13 bankruptcy.
Rental properties can be a great source of income until a renter moves without notice or fails to pay or that rental income starts to be used for your personal household expenses. As situations arise, many people are finding it necessary to file bankruptcy and surrender a rental property or properties they own. When you … Read more
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