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Category Archives: Bankruptcy Lawyer

The Rise and Fall of Bankruptcy Statistics

Sometimes a volatile economy makes it difficult to know what to expect in terms of bankruptcy filings.  The past two years saw extremely different trends. According to the United States Courts in 2010: Bankruptcy filings grew 14 percent to 1,596,355 Chapter 7 filings grew by 16 percent Chapter 13 filings grew by nine percent Chapter… Read More »

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 Should I Bring to My Meeting With My Bankruptcy Attorney?

In life, it’s absolutely important to be prepared. This is also true when preparing to meet with an attorney. If you are considering filing for bankruptcy, your first meeting with your bankruptcy attorney can end up being a big waste of time if you don’t come to the meeting prepared. Following is a list of… Read More »

What You Should Know about Credit Cards and Bankruptcy

Many myths circulate about bankruptcy.  Some people fear that after they file, they must wait 10 years before applying for a credit card.  Or they may believe that no financial institution would ever agree to issue them a credit card until 10 years after the date they filed bankruptcy. Fair Credit Reporting Act One way… Read More »