Monthly Archives: November 2008

Chapter 13 Reorganization

Nov12

People who cannot car payments, and/or owe back house payments, back IRS taxes, back child support, delinquent property taxes, and others may file for protection under Chapter 13 of the Bankruptcy Law to stop foreclosure on their home, repossession of their car(s), to stop IRS wage and bank account levies, and tax liens on their […]

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Filed under Bankruptcy Code, Chapter 13 Bankruptcy, Important Terms, Plan Payments

Chapter 7 Fresh Start Bankruptcy

Nov12

Chapter 7 Fresh Start Bankruptcy may be used to eliminate credit card debt, medical debt, deficiencies after a foreclosure and/or repossession.  There are other debts dischargeable in a Chapter 7, but credit cards, medical and deficiencies are the most common.  Clients who are defined as “Debtors” in the Bankruptcy Law need to be current on […]

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Filed under Bankruptcy Code, Chapter 7 Bankruptcy, Important Terms

Why We Have The Bankruptcy Law

Nov12

Bankruptcy law is a safety net to give honest people a “fresh start” or an opportunity to “reorganize their debts.”  Bankruptcy is more powerful than any non-bankruptcy bill consolidation proposal.  Bankruptcy is the law.  The bankruptcy law specifies what “relief” you are entitled to, provided you follow a few, short rules.  I counsel people and […]

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Filed under Uncategorized

Bankruptcy Is Not A Four Letter Word

Nov12

Yes, bankruptcy is a ten letter word!  I use “four letter word” since most people believe a four letter word is bad.  It is important for people to know that bankruptcy does not mean they are a bad person.  In my experience, people do not call me after they “max” out credit cards and become […]

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Filed under Of Interest, The Economy