Posts

Romance Scams

Romance scams are one of the more interesting, albeit sadder, reasons leading people to financial distress and bankruptcy. There are websites devoted to the types of scams that are out there, but typically it revolves around a person overseas,…

When is the best time to file bankruptcy?

The best time to file bankruptcy is probably a year or two ago. While I say that somewhat tongue-in-cheek, it is largely true – most people that I see probably could have and should have filed bankruptcy a year or two ago, but they held off,…

Bankruptcy helps you live longer

People don’t always think of debt relief as a part of financial planning, but it often is. Having counseled people in financial trouble for over 25 years, I know that the fear of bankruptcy being imminent, and trying to determine whether there…

How will bankruptcy affect my credit?

Probably one of my most frequently asked questions. The answer is, bankruptcy isn’t that bad on your credit. The first question I ask people, is how is your credit now? Most people have let their credit slide a bit by the time they have contacted…
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Filing Fees for Removing State Court Judgments After a Bankruptcy Changed Back to Five Dollars

One of the bills that did get passed by the 2015 regular legislative session, is correcting a somewhat controversial fee-grabbing stunt by the state court administrator, returning the status quo for post-bankruptcy state court judgment release. After…

The Perils of Trying to File Bankruptcy While Supporting an Adult Child in College

As I have explained to clients many times before, there is sort of a hierarchy in bankruptcy. Your minor children come first, your creditors come second, and your adult kids come third. If you have been supporting an adult child, for instance…
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Will my debts come off my credit report after bankruptcy?

After your bankruptcy discharge goes through, your creditors may still appear on your credit report, although sometimes they come off of your credit report or weren’t on there in the first place. And they will go away once they are 10 years…
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Median Income Figures for Bankruptcy Means Test Increased

The United States Trustee just announced that effective November 1, the median income figures will increase. The median income is the figure that half of the people with that household size are above it, and half are below. Debtors who are below…
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A Creditor has sued me, I answered and disputed, and nothing has happened.

This is a situation which happens with surprising frequency. Many collection law firms are merely retained by collection agencies for the purpose of collecting low hanging fruit, and when a debtor requests their day in court by serving an answer,…

U.S. Supreme Court determines that inherited IRA’s are not exempt in bankruptcy

In a unanimous ruling, Clark v. Rameker, the United States Supreme Court ruled that an individual retirement account that the debtor inherited, as opposed to having contributed to it on their own, does not fit within the federal bankruptcy exemption…