News Topic: BankruptcyQuestionsNationalBankruptcyForum

The good news is there is life after bankruptcy!  Although filing a bankruptcy, either Chapter 7 or Chapter 13, will have a negative initial impact on your credit score, filing a bankruptcy case does not mean that you will never be extended credit again.  ... Read full article

Will I Lose My Job if I File for Bankruptcy? It is prohibited under the bankruptcy code for a person to be fired because they have filed bankruptcy.  Now, I have never in my years had a client complain that they were let go because the employer ... Read full article

As a bankruptcy attorney in Dallas, I get a lot of questions about the difference between Chapter 7 and Chapter 13 bankruptcy. Many people ask me about the changes in the bankruptcy laws and how they will affect their debt relief options. Although some ... Read full article

MISTAKE #1: Taking out a second mortgage against your home, often called a home equity loan. You can’t borrow your way out of debt. Many people hope to avoid Illinois bankruptcy by getting a home equity loan to pay off medical bills, credit card debt, and ... Read full article

SECRET #1: Most people keep all their property. Illinois law allows you to keep your home, cars, furniture, appliances, employer sponsored retirement and other things you need to get a fresh start. While there are limits to the values of what you can keep, ... Read full article

Here’s how different debts are treated in bankruptcy: Debts Dischargeable in Chapter 7: Personal loans – such as money borrowed from friends Credit cards Repossession deficiencies Auto accident claims Health care bills Judgments Debts from a Business ... Read full article

MISCONCEPTION #1: Bankruptcy is dishonest. Not true. Most people honestly want to pay their bills, but sometimes things happen that make it impossible. These things include an unexpected lawsuit, judgment or income tax bill – a fine that was considered ... Read full article

In Chapter 13 bankruptcy, you may be able to ask the court to lower the amount that you owe on a mortgage.  Actually, it is slightly more complicated than that, but it boils down to the same thing. If you have a mortgage that you owe more on than your home ... Read full article

As a bankruptcy attorney in Dallas, Tx, I am always asked about how bankruptcy laws have changed and whether the laws will affect their homes and family. In my opinion,filing for bankruptcy has always been a tedious process and many people find it ... Read full article

Bankruptcy Misinformation To many, bankruptcy is a four letter word, an ethical nether region where you mustn’t have your passport stamped upon entry. However, there are numerous misconceptions about the bankruptcy process, that when stripped away, make a ... Read full article

So what’s it like being a bankruptcy attorney?  Well, you’re going to be meeting with a lot of people who are struggling financially.  You’re going to be meeting with a lot of people who are down and out on their luck.  You’re going to be meeting with a ... Read full article

 Bankruptcy is a Big Decision Filing for bankruptcy is a big decision, one that is never reached easily. For many people, the bankruptcy process can be overwhelming and even intimidating. Filing does not have to be a chore, after all, the process is meant ... Read full article

What should you look for in a bankruptcy attorney?  The first thing you should look for is an attorney that handles bankruptcy on a regular basis.  Find an attorney who has experienced many, many different types of bankruptcy cases over a series of years. ... Read full article

Yesterday’s Daily News ran a front page story on the return of squeegee men to the streets of Manhattan. For those of you who don’t know, “squeegee men” are a highly evolved form of panhandlers who clean your windshield unsolicited, then aggressively ... Read full article

The Limits of Bankruptcy Relief Under the right circumstances, filing for bankruptcy can provide great relief to a family or an individual struggling with debt. Assuming you qualify, chapter 7 bankruptcy can completely eliminate credit card debt, medical ... Read full article

Another great thing about Chapter 13 is it effectively lowers the car payment.  If the debtor was making a $500.00 – $600.00 car payment prior to filing Chapter 13, the odds are the total amount that the car is going to receive per month is going to be ... Read full article

It’s often said that the three most important things about the value of real estate are location, location and location.  One of our local bankruptcy judges has stated (in my opinion correctly) that the three most important words related to a bankruptcy ... Read full article

If you or someone you know is struggling financially help is available.  Title XI in the United States code has two specific chapters that gear towards individuals who are struggling financially.  The first chapter is Chapter 7 and the second chapter is ... Read full article