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Guidelines for Bankruptcy Filers Affected by Natural Disasters
Unfortunately, large-scale natural disasters affected hundreds of thousands of Americans in 2017. The Federal Emergency Management Agency (FEMA) reported a historic year of natural disasters. FEMA reported that disasters affected 8% of the U.S. population in 2017....
Americans Are Deeper in Debt Before Retirement Than Ever Before
Today Americans are more likely than ever before to reach retirement-age in debt. More than 70 percent of people ages 56 to 61 were in debt in 2010, showed a recent study that appears in the American Economic Association Papers and Proceedings. The study analyzes the...
Taxes and Bankruptcy
Bankruptcy is a complex and nuanced area of law. Some back taxes owed to the IRS are dischargeable (erased) through bankruptcy, while others are not. Before filing for bankruptcy it is important for you to understand how you will be affected by filing, and which of...
4 Keys to Successfully Managing Your Personal Finances
When you have a solid grasp of your personal finances you will be free from stressing out about money, your bills will be paid, your financial goals can be met. Many of us get out of school without ever having taken a course in personal financial management. We are...
Practical Steps to Take Before Filing Bankruptcy
Deciding to file for bankruptcy is a difficult decision. Though, erasing your debt through bankruptcy may be the best decision you could make for your financial future. Once you are free from unmanageable debt, like credit card and medical debt, you will be in a...
3 More Reasons to File for Bankruptcy
We recently published 3 Reasons to File for Bankruptcy and because there are many reasons why people need to file for bankruptcy protection, we thought it important to follow up with 3 More Reasons to File for Bankruptcy. For many, filing is the best decision for...
Can My Bank “Offset” My Account?
When a bank “offsets” an account, it means that the bank seizes funds from an account to satisfy an unpaid debt owed to the bank. For example, a bank may offset (take money from) a debtor’s checking account to pay for a missed car payment where the bank also holds the...
Tax Collector’s Right to Levy Your Bank Account
Most creditors (the banks you owe money) have very little power to force collection from you without first winning a lawsuit against you for not paying back your debt. For example, if you stop paying your credit card bill, the bank who backs that card would have to...
Why Some Chapter 13 Bankruptcy Plans Fail
Chapter 13 bankruptcy is a powerful legal tool. It offers a number of advantages to a debtor, including the opportunity to erase certain debts and to catch up on mortgage arrears, missed car payments, and back taxes. Chapter 13 creases a debt repayment plan that lasts...
How Does Bankruptcy Affect My Mortgage?
If you own a home and are considering filing for bankruptcy protection, you likely have many questions about how your home and mortgage will be affected by filing. First, understand that every bankruptcy case is unique and your options and how you will be affected is...
Why Are Some Creditors Paid in Bankruptcy While Some Are Not?
Just as some debts are treated differently in bankruptcy – some debts can be discharged (erased) in bankruptcy and some cannot – so too are creditors treated differently in bankruptcy. Whether or not a creditor will be paid in bankruptcy depends on the type of debt,...
Escrow Overage Payments Are Property of the Chapter 13 Bankruptcy Estate
The U.S. Bankruptcy Court for the Southern District of Georgia recently ruled in two cases that escrow overage payments arising from the debtor’s overpayment of post-confirmation mortgage payments are property of the Chapter 13 bankruptcy estate. In both cases, In re...
Feeling Harassed?
Bankruptcy should not be a confusing process, we can guide you to financial freedom. It’s time for a fresh start.