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What’s better – short sale or foreclosure?

A realtor will definitely tell you a short sale is better. But keep in mind that a realtor makes money by getting clients and selling houses. While there is nothing wrong with that, and I have nothing against realtors, realtors are trained to…

I’ve been served a summons. What should I do?

This usually means that you are getting toward the end of the collection cycle, that you have not had the money to pay your unsecured bills for at least a year, that your credit is probably shot, and it is probably time to call me. You have…

I am facing foreclosure. What should I do?

When a person is facing foreclosure, most of the time they have already tried to modify their loan and were turned down. But if you have not done that, you should try — I can virtually assure you that it will be a long and cumbersome and frustrating…
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Bankruptcy vs Credit Counseling

Debt Management and Payments The airwaves are filled with ads touting debt settlement or debt negotiation, implying that is a better solution than bankruptcy. A credit counseling plan, also called debt consolidation, or debt management…

Do I have to file on all my debts?

Yes, even if you plan on keeping the asset (such as a home mortgage or car loan), even if you know they won’t get discharged (such as taxes, student loans or child support) and even if it’s a credit card you wanted to keep. They and your…

What are my options on my second mortgage?

I will start out with a very simple premise for my Chapter 7 and Chapter 13 clients, which I call the 10-word rule: If you want to keep your house, make the payments. (Same rule applies for cars). The 10-word rule covers 95% of what you need…
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Divorce or bankruptcy. What should I do first?

A common question indeed, although there is not a one-size-fits-all answer. I have lectured on this topic several times among my colleagues. As a general rule, if there are joint debts, a spirit of cooperation and a joint goal in getting those…

Can I keep my tax refund?

The quick answer is that you can almost always protect your tax refund. There are several different scenarios at play, so first, it is best to understand your rights outside of bankruptcy, and then I will address what happens to your tax refund…

What are the fees for a bankruptcy?

Costs of Bankruptcy My fee depends on a few things, including your marital status, whether you are self-employed, own real estate, and/or are over the median income. The current court filing fee is $335 for a Chapter 7 or $310 for a Chapter…

What to look for in an attorney

It’s hard to call friends and tell them that you are looking for a bankruptcy attorney. Ironically, I still do get a substantial portion of my clientele from referrals. But as you peruse the websites and other methods of choosing an attorney,…