The short simple answer to this question is yes, yes, yes. The specific reasons are set forth below. Why do you need an attorney to file your bankruptcy petition? Bankruptcy is a complex area of the law. Bankruptcy law is comprised of a convoluted mix of federal and state laws, case law and local rule. [...]
Read moreReasons a Debtor Might Want to Reopen a Bankruptcy Case The three most common reasons that a debtor desires to reopen a bankruptcy case are as follows: 1) Failure to file a pre-discharge credit counseling certificate; 2) Failure to list a creditor or an asset; 3) Failure to take necessary steps to remove a judgment [...]
Read moreWhat is a Chapter 13 Cramdown? A Chapter 13 Cramdown allows you to reduce the balance of a secured loan and pay a lower interest rate on that loan. Most often debtors use the cramdown on vehicles, but if all of the conditions apply it can be used on other secured loans. How does a [...]
Read moreWhy a court looks at a debtor’s expenses. Two things that a bankruptcy court looks for in a bankruptcy petition are a debtor’s income and expenses. This is important because in order to file a Chapter 7 the debtor must make less than a determined amount for his/or her family size or be unable to pay a minimum [...]
Read moreOnce you have decided to file bankruptcy there is what may seem like a lot of information that your attorney will need from you, both in questionnaire form and in document form. Even if you have not decided to file for bankruptcy yet, but you want to expedite the process if and when you do decide [...]
Read moreDivorce or Bankruptcy-which comes first? Unfortunately, in many circumstances divorce and bankruptcy fall hand in hand. Couples often decide to end their marriage due to financial difficulty and the question becomes should you file bankruptcy before you file for divorce or petition for dissolution or vice versa. The answer really depends on your response to the following [...]
Read moreFive Reasons You Should File Bankruptcy Not everyone needs to file bankruptcy when they run into financial trouble, but there are five main instances in which bankruptcy is really your only viable option. Garnishment If you have received a notice that wages will be garnished from your paycheck or they have already been garnished from [...]
Read moreAre you immediately off the hook for damages? Probably not. Until the deed to the property is transferred from your name to the bank you could be liable for potential damages that arise on the property that you are surrendering in a Chapter 7. If at all possible it is advisable to stay in your [...]
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