What You Do Before You File Matters in Bankruptcy If your bills are pilling up and creditors are continually harassing you, but you are unsure of whether or not filing bankruptcy is the best option for you, there are some Do’s and Don’ts which may protect some of your property if you do decide to…

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Debt consolidation is not the only option – think before you sign! Debt consolidation is unfortunately an option many bankruptcy clients have exhausted in their search for financial freedom, prior to seeking bankruptcy advice from an experienced bankruptcy attorney, but it shouldn’t be.  Debt consolidation is the combining of all unsecured debt by a company who is paid by…

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Chapter 13 Discharge: Full v. Partial A Chapter 13 discharge is a court order releasing a debtor from all dischargeable debts and ordering creditors not to collect them from the debtor. A debt that is discharged is one that the debtor is released from and does not have to pay. There are two types of…

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The Duties of the Chapter 13 Bankruptcy Attorney In a Chapter 13 bankruptcy, your attorney performs the following functions: Examines your financial situation and determines whether a Chapter 13 filing is a feasible alternative for you, and if so, whether a single or a joint case should be filed; Assists you in the preparation of a budget;…

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A Quick Review of Chapter 13 Bankruptcy Chapter 13 bankruptcy is part of the bankruptcy code under which a debtor may repay all or a portion of their debts under the supervision and protection of the bankruptcy court.  During this time, creditors are prohibited from contacting the debtor and the debtor is protected from foreclosure, just as…

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  Chapter 7 v. Chapter 13: Find the Right Bankruptcy Filing for You How are Chapter 13 and Chapter 7 bankruptcy filing? Creditors are prohibited from contacting you while under the protection of the automatic stay, which goes into place upon the filing of either chapter; and Completion of the Credit Counseling Class is required…

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Got a bankruptcy question?  – I got answers! What is bankruptcy? Bankruptcy is a federal law designed to provide a fresh start to debtors.  A fresh start including freedom from harassing creditor phone calls, lawsuits, repossessions and garnishments. It is a privilege granted to you under the United States Constitution. It is a very powerful law because…

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College Graduates Filing Bankruptcy at Higher Rate A report by the Institute for Financial Literacy, finds that college graduates and people with advanced degrees are filing more often.  In fact, since the passage of the Bankruptcy Abuse Prevention and Protection Act, holders of higher education degrees have increased their filings by about 20 percent. Despite the rise in…

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Quick Fix or Burdensome Debt?– Financial Quick Sand of Payday Loans  Payday loans provide a quick cash resource for many people, but more often than not, this quick fix can turn into overwhelming debt very quickly, burying a borrower in debt with massive interest rates attached.  These loans are usually seen as a short-term solution for bills…

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In every bankruptcy, the debtor is required to visit the bankruptcy court  for the 341 Creditors Meeting.  The “meeting” is a hearing conducted by the bankruptcy trustee so they may ask  the debtor questions about their financial condition. It is called the 341 Meeting of Creditors because the debtor’s creditors may also appear and question the…

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