Bankruptcy Myths

Appropriate Use of Available Exemptions Will Protect a Debtor’s Property in Chapter 7 Bankruptcy

08/13/11

For those who are considering filing Chapter 7 bankruptcy in San Jose, or elsewhere in California, a common misconception is that the bankruptcy trustee will seize or take away all of a debtor’s existing property.  This is not true. Debtors are entitled to certain exemptions when a bankruptcy is filed.  An exemption allows a debtor [...]

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Befuddled by Student Loan Consolidation

08/03/11

It is a harsh reality of today’s post-collegiate environment – two-thirds of all students now graduate with burdensome debt that can follow for many years to come. Following a recent news story on CBS Evening News, a comment was made that a student CAN have their federal student loans discharged in a Chapter 7 bankruptcy [...]

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Depression, Financial Ills and Bankruptcy

06/24/11

Recently in San Diego, two extreme examples of apparent financial woes have led to tragic ends. http://www.signonsandiego.com/news/2011/jun/07/services-held-two-familie... http://www.signonsandiego.com/news/2011/jun/22/court-documents-show/ I am not trained in the matters of the impact of financial burdens on one’s mental health. I am a counselor, however, a counselor at law. As such, one of my primary duties is to listen to [...]

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Private School Tuition in Chapter 13 Bankruptcy

06/16/11

Everyone filing for Chapter 13 bankruptcy knows they will make a plan that must be approved by the bankruptcy court in order for them to proceed.  But what may be included in that plan?  The Bankruptcy Code uses vague terminology such as “fair” and “reasonable” to define what costs a debtor can claim are necessary [...]

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Are the Bible’s Debt Forgiveness Principles Codified in the Bankruptcy Code?

04/23/11

Despite sites like National Bankruptcy Forum which disseminate good bankruptcy information to the public at large, some think that filing for bankruptcy carries a stigma. I guess we have Dave Ramsey to thank. Is filing for bankruptcy ethical? We’ve addressed the subject many times before on this forum. For example, see: Does the Very Existence [...]

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Common Questions Asked by the Bankruptcy Trustee at the Meeting of Creditors

01/26/11

Most of my Atlanta bankruptcy clients become concerned when they learn that they will have to make at least one Court appearance after filing their Chapter 7 or Chapter 13 bankruptcy case.   I am able to put most clients’ minds at ease by advising this brief overview of what questions to expect at the appearance.…

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Georgia Exemptions: What Can I Keep if I File Bankruptcy?

01/20/11

Understandably, a typical bankruptcy client fears that they will lose most of their property if they file for bankruptcy.  For my Atlanta bankruptcy clients, the good news is that a substantial portion of your real estate, personal property and retirement money is safe and sheltered from the reach of the Bankruptcy Court by virtue of…

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