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Author Archives: Jeff Aleman

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Filing Bankruptcy Does Not Bar Success

For many people, the idea of filing bankruptcy conjures up ideas of business or personal failure.  However, bankruptcy has existed for decades as a means for people to put debt behind them, learn from their mistakes, and forge ahead.  Bankruptcy is a safety net and serves an important economic function. Trump bankruptcies Donald Trump is… Read More »

Bankruptcy Fact or Fabrication

Friends, families, and false sources of information give people wrong ideas about bankruptcy.  While some ideas may be facts, others are fabrications.  Here are some common fabrications regarding bankruptcy: When creditors file lawsuits or take other actions against you, bankruptcy is no longer an option. The opposite is true.  Filing bankruptcy is actually a financial… Read More »

What is Fraudulent Conveyance in a Bankruptcy?

It is important to understand what the bankruptcy courts consider fraud in relation to bankruptcy.  When debt is overwhelming, debtors may become desperate.  You need to know where to draw the line between innovative solutions and what the court considers fraudulent behavior. Fraudulent conveyance is a commonly used term in bankruptcy cases.  A conveyance is… Read More »

Timing Your Bankruptcy Filing

The saying timing is everything has merit for many situations in life and also holds true for filing bankruptcy.  It is important not to wait too long until your world comes crashing down on you before resorting to bankruptcy.  However, filing too soon may also deprive you of many advantages.  Discussing your finances with a… Read More »

What Is Wage Garnishment and How Can Bankruptcy Help?

If you owe money, it may come as a surprise to find out that a creditor can garnish your wages, leaving you to take home a smaller paycheck.  When debt mounts up and creditors become serious about collection efforts, they sometimes resort to garnishment. Wage garnishment is a court order that allows a creditor to… Read More »

Avoiding Credit Repair Scams

As increasing numbers of people struggle with debt and file bankruptcy, many credit repair services have cropped up.  However, it is important to understand that some credit repair agencies do not serve the individual’s best interests and there are pitfalls you should avoid. A number of federal agencies became concerned about how credit repair agencies… Read More »

What about Pre-Bankruptcy Credit Counseling?

Since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in 2005, debtors opting for bankruptcy face a new prerequisite—180 days prior to filing bankruptcy, they must complete a credit counseling session as an eligibility requirement. What does credit counseling involve? During credit counseling, you participate in a counseling session where the counselor… Read More »

What will I lose if I file for bankruptcy?

Many people are fearful of filing for bankruptcy because they are unsure of what will happen to them. They worry that they will lose everything—including their car, their home, and all their personal belongings. This fear is unfounded, and Jacoby & Meyers Bankruptcy Law can explain why. When we assist you in filing for bankruptcy,… Read More »

What are the eligibility requirements for Chapter 7 bankruptcy?

Chapter 7 is the type of bankruptcy that allows you to eliminate, or discharge, all or some of your debt. The result is simple—elimination of debt—but you have to be eligible for Chapter 7 first in order to file. You must be aware of all the requirements of the law before filing. First, you have… Read More »

What are the eligibility requirements for Chapter 13 bankruptcy?

Chapter 13 bankruptcy is different from Chapter 7 bankruptcy. With Chapter 13, you devise a payment plan to pay off your creditors. You can file for Chapter 13 as an individual or as a sole proprietor. In order to be eligible for Chapter 13 bankruptcy, you must: Have unsecured debts less than $360,475 Have secured… Read More »