About 10 to 20 years ago, I would see the same typical creditors in a bankruptcy case. I would likely see credit card debt, outstanding medical bills, parking tickets, tax debt, and an occasional unsecured, personal loan. These are the majority of creditors that made up bankruptcy cases 10 to 20 years ago. My how […]
Monthly Archives: February 2015
Most people thinking about filing for bankruptcy are understandably concerned about paying for the service. They wonder how in the world they going to pay the attorney’s fees and the court costs in an effort to get out of debt. After all, they have very little available per month after they are paying all of […]
When you file a chapter 7 bankruptcy, you are basically telling creditors that you have no significant assets from which to pay them. To prove this, on your bankruptcy petition you must list all of your property of every nature. You are then allowed to protect or exempt a specific amount of property depending upon […]
I recently had a client who was reorganizing student loan debt over a five-year period. He was willing to pay back 10% of the student loans knowing full well that the other 90% would be due and owing plus interest after his bankruptcy case was over. He did have some minor credit card debt and […]
Most people do not wish to file for bankruptcy. They know there’s a psychological aspect. They know there’s a monetary fee. They know that there is a process. In fact, most clients wind up filing for bankruptcy after some catastrophic event triggers the necessity to file. Wouldn’t it be wise if on certain occasions people […]
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