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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  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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Bankruptcy and Divorce: When your divorce leaves you broke, bankruptcy can give you a fresh start! Many times bankruptcy and divorce go together.  A divorce is not only emotionally draining, but separating all the debts and assets of two people gained during a marriage can lead to financial instability. In a divorce all marital property…

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When medical bills make you sick, file for bankruptcy! With many Americans out of work, and therefore without health insurance, medical debt can put many families in a financial bind that is impossible to get out of.  A 2009 study by Harvard researchers found that 62% of all personal bankruptcy filed was because of financial hardship…

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To insure a successful bankruptcy, concluding in the discharge of your debts – follow these 10 Commandments: 1.  Thou shalt not keep information from your attorney. Effective representation requires all information be provided.  Information requested is required by the bankruptcy court; if not provided – cannot file. 2.  Thou shalt not hide assets. The court…

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