Tag Archives: bankruptcy lawyer
Financial Troubles Can Hit Anyone: But There’s Hope
As the US unemployment rate continues to rise and fall unpredictably, and medical bills and credit card debt soar, more families hit hard by financial troubles look for solutions. No one is immune, not even the family of an Olympic champion who has the potential earning power of a Fortune 500 executive. Recently the mother… Read More »
When to Delay Filing for Bankruptcy
Just as there are reasons you should file bankruptcy right away, there are times then a bankruptcy case should be delayed. The best way to know is to discuss your financial problems with a skilled bankruptcy lawyer. Some reasons your attorney may advise you to wait include: Divorce Monetary transfers Expected medical bills Recent credit… Read More »
What is a Trustee’s Role in a Bankruptcy Case?
There are two types of trustees, the trustee who immediately oversees a particular bankruptcy case, and the U.S. Trustee. Trustees A trustee is a private individual or corporation assigned by the bankruptcy court system to oversee a particular bankruptcy case. The trustee’s role in overseeing a bankruptcy involves various functions such as: Liquidating estate assets… Read More »
Avoid These Pitfalls When Filing for Bankruptcy
When you are in financial trouble, do not wait until the last minute to seek legal help. Some careful planning and working with a skilled bankruptcy lawyer can help you avoid certain pitfalls related to bankruptcy. Working ahead, at least several months before filing is often to your advantage. Here are common errors that can… Read More »
How Does the Process Work When Claiming a Bankruptcy Exemption?
An exemption is a piece of property that you can hold back during a bankruptcy. Exemptions range from cars to work tools and states have their own list of possible exemptions. When filing bankruptcy, your bankruptcy lawyer ensures that your Schedule C lists all the bankruptcy exemptions that you want to claim. Exemptions not listed… Read More »
Secured Credit Cards: An Option for Restoring Credit after Bankruptcy
Whether you are a young person starting out with no credit or are re-establishing credit after bankruptcy, one credit-building option is a secured credit card. A secured credit card requires a deposit to guarantee the card. For example, the bank may require an initial $500 deposit and give you a credit line of $500. As… Read More »
Which Works Best for You — HAMP or HEMAP?
Various choices are available for loan modifications and determining the best option for you can be confusing. You may have heard of HAMP, a federal loan modification program. HEMAP is the loan modification program that the Pennsylvania state government offers homeowners. Your mortgage foreclosure defense specialist is probably the best judge of which program would… Read More »
Credit Cards and Bankruptcy
With credit cards as easy to get as ever and disruptions to income, such as job loss or serious medical disability, occurring to people every day, it’s no wonder that credit cards make up a large portion of discharged debt in bankruptcy. Here are a few things to note when considering bankruptcy as an option… Read More »
What if I Own Joint Debt with Someone Who Files for Bankruptcy?
Bankruptcy can be filed by one spouse without the other. If your spouse files for bankruptcy, it does not automatically bring you into bankruptcy. Similarly, the bankruptcy of a spouse doesn’t give you the protection of automatic stay or bankruptcy debt discharge. Following are some more ways bankruptcy and marriage are related: Joint debt. With… Read More »
Personal Organization and Bankruptcy
Some people are naturally organized. Some aren’t. If you are a naturally disorganized person, however, it would be to your benefit to work on some organizational skills if you are considering filing for bankruptcy. Keeping things organized helps both you and your attorney keep track of all the paperwork and items involved in… Read More »
