Posts

I already filed bankruptcy, when can I file bankruptcy again?

You need to wait eight years from the filing date of a prior Chapter 7, in order to file another Chapter 7 and get a discharge. If it's been less than eight years, but at least four years, you can file a chapter 13, and get a discharge. My “over/under,”…

Debt resolution comparison chart

I don’t simply assume that anybody with debt issues needs or wants to file bankruptcy. In fact, some people shouldn’t file bankruptcy, or they want to try alternatives before filing. For those considering the advantages and disadvantages…

6 Things To Do If You are Considering Bankruptcy

Most people, by the time they start thinking about bankruptcy, have exhausted other options. Many times people find themselves in a situation where they may or may not be able to dig themselves out of a financial hole, depending on future contingencies,…

BAP Takes Property Tax Exemption Case Under Advisement

The 8th Circuit Bankruptcy Appellate Panel (BAP) heard oral arguments in the case of In re Sheri Hanson last week. I represent debtor Sheri Hanson, who is trying to claim an exemption to protect a $1,500 property tax refund, which the State…

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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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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What should you do when your car gets repossessed?

Well, first of all, keep your stuff that you need, out of your car, particularly garage door openers etc. Presuming the car is not worth as much as you owe, you still might try to do a short sale, get your best offer on craigslist, take it…
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Can an individual be held liable for post separation debts incurred by the other spouse?

Yes. Debts are the same as negative assets, and the presumptive date for dividing a marital estate is the date of your pretrial, which is often many months after separation. There are two exceptions, which is that the parties can agree on a…