Legal Insights & Resources 

When filing bankruptcy, it is often easy to overlook personal loans and gifts. However, this type of debt or property may have a significant impact on your bankruptcy filing. Not disclosing information regarding real estate that has been gifted to you, an outstanding loan to a family member or co-owned bank accounts can cause some […]

The following is a guest post from Sergei Lemberg, whose firm represents consumers in matters relating to fair debt collection, fair credit reporting, and lemon law. As the economy has worsened, many of those in the debt collection industry have ramped up their efforts to squeeze consumers into paying whatever money they can toward […]

The new bankruptcy law enacted in 2005 (Bankruptcy Abuse Prevention and Consumer Protection Act, or short BAPCA) had a direct impact on Family Law. Some debts incurred in the course of a divorce proceeding are dischargeable in a chapter 13 and not in a chapter 7. Domestic Support obligations or short DSO, are not dischargeable […]

After extensive investigations and negotiation, 49 state attorney generals, in conjunction with the federal government, have finally reached an agreement with the five chief mortgage loan servicers in the U.S. J.P. Morgan Chase, Bank of America, Citigroup, Wells Fargo and Ally Financial, formerly known as GMAC Mortgage have agreed to a $25 billion mortgage […]

Filing for bankruptcy can provide relief by allowing you a fresh financial start. When you file for bankruptcy you will stop the harassing phone calls from creditors and debt collection agencies, you will be discharged of most or all of your debt and you may even be able to keep your home. However, filing for […]

If facing foreclosure or repossession, a Chapter 13 bankruptcy filing may be the right option for you Filing for bankruptcy is an option for some people who are simply buried in debt. An individual, couple or company may file for bankruptcy due to a change in income or a loss of revenue. Certain circumstances may […]

Bible and Bankruptcy, Part 1 by Bankruptcy Attorney in St. Louis Tobias Licker What does the Bible tell us about bankruptcy? The authors of the Bible didn’t know about Chapter 7 and Chapter 13, however, the question what happens if a debtor cannot afford to pay back his debt is older than currency itself. One […]

The hardship discharge is a great tool in chapter 13 bankruptcies to help debtors get a discharge when they cannot complete the chapter 13 for reasons outside of their control, such as becoming disabled or losing their job. The possibility of a hardship discharge is often overlooked, unknown or not correctly applied. Under §1328(b) U.S.C. […]

It is estimated that approximately 60 percent of all bankruptcies that are filed are due to excessive medical bills. Those filing bankruptcy due to these costs are not necessarily those who are poor or uninsured. In fact, of the people who file for medical bankruptcy, over 60 percent attended college, over 65 percent own a […]

A debtor can obtain a discharge of debt by filing for bankruptcy. A discharge of debt releases the individual’s personal liability for many types of debts. A discharge prevents creditors from making any collections efforts upon the debtor including phone calls, letters, and threats. If you live in the St. Louis Area, being represented by […]

This article considers some of the debts that cannot be discharged by filing for Chapter 7 bankruptcy protection. It also provides a brief explanation why you may not discharge these debts during the Chapter 7 bankruptcy process. Many St. Louis debtors think that all of their debts can be discharged by filing for Chapter 7 […]

Guest Post by Dunwoody and Jonesboro, Georgia bankruptcy attorney Peter Bricks Bankruptcy is all about getting the debtor a fresh start. So how long does it take to get that fresh start? A typical Chapter 7 bankruptcy case lasts about 4-6 months. However, if your case has some abnormal issues, like assets to liquidate or […]

This is a guest article by Attorney Adam Schachter, a bankruptcy attorney in Houston Texas. The title of this post is a tad misleading since no lawyers, including Bankruptcy Lawyers, can ever truly promise a positive outcome of your case. Even if the facts are on your side, and the law is on your side, it’s […]

There are two mandatory courses you have to take if you are planning to file for bankruptcy. First, you must attend a credit counseling session with an approved credit counselor within the six months prior to the date you file for bankruptcy. For example, if you filed bankruptcy in June 2011, you had to attend […]

As personal bankruptcy has recently reached an all time high, it is more important than ever to develop and live by a household budget. This will help you in determining not only where your money is going on a regular basis, but it should also help you to cut down on expenses that are not […]

This is guest article by Attorney Adam Schachter, a bankruptcy attorney in Houston Texas. What is an Automatic Stay As soon as a bankruptcy is filed, with a couple of narrow exceptions, something called the “automatic stay” goes into effect. The automatic stay is found in the bankruptcy code at 11 U.S.C. § 362(a) and it […]

When a layoff or catastrophic, unmanageable debt begins to pile on, many people look to extreme or knee-jerk reactions in finding solutions to manage their financial situation without first consulting an attorney or financial advisor. Here are five common conundrums to keep yourself from acting on when you owe more than you can afford and […]

When debt comes back from the past to attack living debtors, many debtors are unclear on their rights and the statute of limitations in regards to “zombie” debt, or debt typically purchased by debt buyers in which the window of collections has expired. In general, “zombie” debt refers to debt over 10 years old that […]

While many associate the word “bankruptcy” with “epic failure”, history shows us that through the adversity of life one must use knowledge and tenacity to turn “epic failure” into, just, “epic”. In 1923, Walt Disney’s creditors forced bankruptcy upon him and assumed his assets to settle his debts. Likewise, after many ups and downs, including […]

Credit counseling most often involves consolidating outstanding debts as much as possible and then developing a negotiated repayment plan for a reduced payment over time to all of your creditors. Credit counseling is often a first step taken by those who have significant debt due to varying unforeseen circumstances. Each creditor has a different idea […]