Melting the Snowball

The Snowball Method A popular method for paying down debt is known as the snowball method, introduced by Dave Ramsey. This method focuses on paying off the smallest debt to the largest. Once you’ve paid off one debt, you take the money you would have paid on that small debt and apply it to the [...]

2021-05-28T04:33:27+00:00January 27th, 2021|Bankruptcy General Topic|

Don’t Fear Business Failure!

So many factors must align for a small business to work. 50% of small businesses fail. Small businesses are the backbone of the US economy. Bankruptcy law favors small businesses. If the majority of your debt is business debt, no means test is required. Bankruptcy may help you bounce back after a business failure. [...]

2021-03-02T22:20:46+00:00March 6th, 2019|Bankruptcy General Topic|

Lawsuits and Judgments

If you have been served with lawsuits or judgments, take action as soon as possible. For resources that can help with defending a lawsuit before a judgment is entered, see our Debt Lawsuit/Judgment Defense Page. Updated May 2020 What Can a Creditor Do to Me if the Creditor Takes a Judgment in the Lawsuit? [...]

2021-03-03T22:43:09+00:00January 28th, 2014|Bankruptcy General Topic|

Mortgage Servicing Laws

New Requirements on Billing Statements Billing statements are now required to have more detail informing the homeowner of charges and what the mortgage lender claims is owed. New Requirements on Forced Place Insurance Beginning January 10, 2014, servicers are required to give two notices to borrowers who have failed to pay their home property [...]

2021-03-02T22:59:07+00:00January 28th, 2014|Bankruptcy General Topic|

Federal Bankruptcy Exemptions

The primary federal bankruptcy exemptions are listed below. Keep in mind, the amounts periodically change. Deciding what exemptions you are entitled to use and which are best for you is an important and complex decision your bankruptcy attorney will review with you. If you don’t have a lot of equity in your home, your [...]

2021-03-03T23:16:24+00:00January 28th, 2014|Bankruptcy General Topic|

History of Bankruptcy

Bancus Ruptus Bankruptcy has quite a history. The word “bankrupt” is thought to have come from two Latin words – “bancus” meaning table or bench; and “ruptus” meaning broken. In the early 1800′s, merchants would sell their goods by coming to markets and setting up a table or bench displaying their goods. When they [...]

2021-01-14T17:37:34+00:00January 28th, 2014|Bankruptcy General Topic|

Dealing With Bankruptcy Guilt

One thing we see in every person who walks through our door who knows they need to file bankruptcy is guilt and shame. No one wants to file bankruptcy. Remember: there is a difference between deliberately beating someone out of money you owe them, and in not being able to pay your debt. If [...]

2021-03-02T23:17:53+00:00January 28th, 2014|Bankruptcy General Topic|

Divorce Issues

Separated, but Divorcing Debtors Filing together before divorce Some married couples choose to file a joint petition of bankruptcy before they divorce. Using one attorney to file a joint petition may be possible, but there is a potential conflict of interest. In some circumstances, provided the parties agree (and represented by separate divorce attorneys), [...]

2021-03-03T23:27:18+00:00January 28th, 2014|Bankruptcy General Topic|

Bankruptcy Stops Creditor Harassment

SUMMARY: Generally, bankruptcy immediately stops most creditor harassment. Creditors are ordered to stop all garnishment, lawsuits, levy, foreclosure and contact. Outside of bankruptcy, you may be able to file a complaint or sue for illegal debt collection. Filing Bankruptcy to Stop Creditor Harassment The biggest advantage of bankruptcy is that the automatic stay is [...]

2021-03-03T23:28:38+00:00January 28th, 2014|Bankruptcy General Topic|
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