atanner's blog

The short answer to this question is NO! This question usually comes to me or my colleagues from a frightened victim of this “payday loan scam” after they have been contacted by a self labeled “collector” plying intimidating scare tactics to collect on a debt.

Each person who files for consumer bankruptcy protection, either chapter 7 or chapter 13, is required to complete a pre-petition credit counseling course.

Many clients that I meet with regarding bankruptcy ask me “What is a Chapter 11 bankruptcy case?”   A Chapter 11 bankruptcy allows an individual or a business to reorganize debts while being protected from creditors.

There are many things you can do to help your Bankruptcy attorney assist you in achieving a successful case. First and foremost, answer all of your attorney’s questions honestly. If you are not forthright with your attorney they cannot help you make the best decisions to obtain future financial freedom.

Do I owe enough to file for bankruptcy is a question that I and my colleagues hear quite often. My initial response is the amount of debt you owe is relative to your financial situation. Many people feel overwhelmed by debt but are concerned that they don’t owe enough to consider bankruptcy as an option.

A meeting of creditors is a mandatory hearing that is held approximately 30 days after the filing of any consumer bankruptcy case. It is commonly referred to at the §341 meeting of creditors as this is the code section found in Title 11 of the United States Code (Bankruptcy Code) that mandates or requires this hearing be held. It is normally presided over by the United States Trustee or a representative of the Trustee. The Court i.e.

When you have a debt that has been reduced to a judgment amount within a state court proceeding, that judgment can be filed with the probate court of the county in which you reside. The result of this filing is that it is now a judgment or judicial lien that will attach to any equity in real property that you currently own or any real property that you may acquire in the future. The ultimate ending is that the debt for this lien must be resolved by payment or some method before you can sell or transfer your currently owned real property or in most cases purchase new real property.

YES! You can use bankruptcy to stop a foreclosure on your real estate. If a foreclosure is imminent and you wish to keep your home, the most common form of bankruptcy used to stop a foreclosure is called Chapter 13. Chapter 13 is a form of bankruptcy that works similar to, and is often referred as, debt consolidation. The premise is to take all of your debt and put it into one monthly payment plan.

Simply stated, a reaffirmation agreement is an agreement that a debtor in a chapter 7 bankruptcy enters into with a creditor that reaffirms or re-obligates the terms of the original contract with that creditor. Reaffirmation agreements are applicable in Chapter 7 bankruptcy.  If there is no undue hardship to you, you may have a creditor that you want to continue to pay after filing a chapter 7 (straight) bankruptcy.

 
First of all, if you are contemplating filing any form of bankruptcy it is imperative that you are up to date with filing all of your federal tax returns with the Internal Revenue Service and it is strongly recommended that you keep legible copies of all of your federal tax returns that have been filed.