What is Bankruptcy? Bankruptcy is a legal proceeding afforded to people (or businesses) who are unable to handle a financial crisis. Bankruptcy is made available by federal law so that you can have a fresh start. How Does Bankruptcy Work? After an individual qualifies and files a bankruptcy, legal protections are then instilled by the...Read More

Most people with debt problems are, at least intially, highly resistant to the idea of filing for bankruptcy.  Filing chapter 7 or chapter 13 is often viewed as taking the easy way out, or looked at as a good way to ruin one’s future credit rating, or as a moral failing best to be avoided.  These viewpoints, combined with financial stress...Read More

What is Chapter 7 Bankruptcy? Chapter 7 Bankruptcy was enacted to allow persons who are hopelessly burdened by debt to have an opportunity for a new beginning by wiping out unsecured debts (debts that aren’t tied to any specific item of property, most commonly credit cards). Chapter 7 is designed for persons who cannot afford...Read More

Absolute Priority The order of payment to the different classes of creditors mandated by the Bankruptcy Code. Accord and Satisfaction An agreement to settle a contract dispute by accepting less than what’s due. Adequate Protection The right of a party with an interest in the debtor’s property to assurances its interest will not be diminished...Read More

I know I’ve talked about this time and time again. If you follow my blog, you are probably wondering why I’m going to dedicate another post to hiring the right lawyer for you. But I’m going to do it anyway, and I have good reason! No matter what lawyer you choose to hire, you need...Read More

If you are in debt, you will probably be interested in hearing that the FDCPA is not the only act that protects your rights from debt collectors and creditors. There is another act that seeks to regulate the way that information such as credit information is collected and disseminated. This act is the Fair Credit...Read More

If you’re living on a tight budget and find yourself barely scraping by from paycheck to paycheck, getting your tax returns might seem like an incredible gift. However, you want to use this gift wisely. While it is natural to want to spend your tax returns immediately, there are better ways to use this money,...Read More

For most college students, going away on spring break is a rite of passage, an item to check off of the “college experience” bucket list. While taking a trip with friends for spring break can be a blast, and you’ll make memories that you’ll talk about for years to come, a big trip can cause...Read More

In the past I have talked about some different ways that you can use your tax return to your advantage in order to get out of debt and save for the future. One of the tips I gave in that article is to use your tax return to file for bankruptcy and hire a bankruptcy lawyer....Read More

If you find yourself in debt, and you want to spend the New Year focusing on getting out of it, you might not know where to begin. How can you get your debt under control and make a plan that will not only help you with debt management, but also one that you can actually...Read More