Bankruptcy Discharge

First Circuit: Lender Not Obligated to Foreclose on Home Surrendered in Bankruptcy

03/28/12

Surrendering Property Usually Allows the Debtor to Walk Away From Underwater Property. What Happens When the Bank Refuses to Take Ownership? One of the big advantages for consumers filing bankruptcy is the ability to surrender property they can no longer afford. Through bankruptcy, debtors can avoid a deficiency lawsuit and get rid of personal liability [...]

[more]

IRS Sanctioned for Willful Violation of Discharge Order

03/01/12

When Creditors Ignore the Bankruptcy Discharge Creditors who attempt to collect on debts that have been discharged in bankruptcy often find themselves in serious hot water with the Bankruptcy Court.  Bankruptcy judges take the discharge order very seriously and will dish out punishment to those who ignore its prohibitions against continued collection efforts. As Nebraska [...]

[more]

Leaving Creditors Off of Your Bankruptcy

02/21/12

Can I leave some creditors off of my bankruptcy? No. Any creditor whom you owe a balance to must be listed on the petition.  Does this mean you should go pay off all the credit cards that you want to keep? No. Even with a $0.00 balance the credit card companies will likely close your [...]

[more]

I’m Not Current on May Car Payments, Do I Have Options in Chapter 13?

02/06/12

When you are considering bankruptcy, you have often been behind on payments for months.  You have run up credit card debt, and missed payments on your car and mortgage.  And now, perhaps your lender is threatening to repossess your car.  What are your options in Chapter 13 bankruptcy? In Chapter 13, unlike Chapter 7, you [...]

[more]

Discharge of Debt

01/18/12

A debtor can obtain a discharge of debt by filing for bankruptcy.  A discharge of debt releases the individual’s personal liability for many types of debts.  A discharge prevents creditors from making any collections efforts upon the debtor including phone calls, letters, and threats.    Many types of unsecured debt can be discharged, including credit [...]

[more]

Using Bankruptcy to Restore Your Driver’s License

01/13/12

Losing Your Driver’s License Can be a Big Headache Losing your driver’s license can have a huge impact on your life.  Without a license, meeting basic needs is much more difficult.  Suddenly, you may still have to make car payments, but cannot use your car to get to work or the store.  This can be [...]

[more]

Can Your Financial Choices Lead to Divorce and Bankruptcy in Arizona

01/13/12

Joint Accounts for Married Couples:  Can Your Financial Choices Lead to Divorce and Bankruptcy? Several surveys report that the majority of married couples put all of their money in joint accounts.  However, that number is less than it used to be, and there are several other options available to married couples. Some couples choose to [...]

[more]

How to Screw Up Your Bankruptcy Discharge

12/26/11

Grounds For Objecting to the Bankruptcy Discharge In the vast majority of cases, the bankruptcy discharge is the primary reason debtors enter the Bankruptcy Court. After all people file bankruptcy to get rid of debt and a court order is certainly an effective way of making this happen. However, receiving a discharge is not guaranteed, [...]

[more]

How to Screw Up Your Bankruptcy Discharge

12/26/11

Grounds For Objecting to the Bankruptcy Discharge In the vast majority of cases, the bankruptcy discharge is the primary reason debtors enter the Bankruptcy Court. After all people file bankruptcy to get rid of debt and a court order is certainly an effective way of making this happen. However, receiving a discharge is not guaranteed, [...]

[more]

How Can Bankruptcy Turn the Tables for the Debtor

12/14/11

How Can Bankruptcy Turn the Tables for the Debtor When people consider filing for bankruptcy, their first concern is usually what negative consequences may stem from their decision.  Making the decision to file for bankruptcy is an important one, and one that needs to be given considerable weight.  However, it is also important to see the [...]

[more]