Posts

Bankruptcy vs. Debt Settlement – Which is better?

https://www.youtube.com/watch?v=XEoETAnhoEc Almost everyone considering bankruptcy can and should consider debt settlement as a last ditch effort to avoid bankruptcy. Debt settlement can be preferable to bankruptcy in these types of circumstances: …

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,…

What does "Charged off" mean on my credit report

I would love to say that by the grace of your Guardian Angels, you no longer owe this debt. But that’s not the case. It simply means that that particular creditor is no longer carrying the account as a receivable. It also likely means that…
, ,

How will bankruptcy affect my credit rating?

That’s a great question, but the better question is, how is your credit rating right now? As a general rule, if you currently have excellent credit but just too much debt, your credit score will probably drop to 600 or so after the bankruptcy.…

Bankruptcy Petition Preparer Continues to Defy Court Order

In a prior blog post, I mentioned Judge Kishel's order shutting down bankruptcy petition preparer Ed Jonak, who does business under a variety of aliases, including Affordable Law Center, Affordable Court Services, Action Plan Rx, Christian Discount…

Will I be penalized if I file bankruptcy while I'm in debt management program?

Not only will they not, can they not, penalize you, but you probably have a cause of action against them for ripping you off & may be entitled to a refund. This is one of the more typical horror stories I hear about people in DMP's. You…
, , ,

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…

If I file chapter 7 or 13 will this stop the judgments that have been filed against me by creditors?

A bankruptcy filing stops collection, and the discharge makes judgments void, but they will stay on your credit report for 10 years from when the judgment was entered.  There is an additional procedure you can go through under state law, after…
,

"How You Can Become a Credit-Score Superstar"

Article in  The Wall Street Journal on 12/9/2012 You, too, can be a credit-score hotshot. Fair Isaac, creator of the commonly used FICO credit score, used to be tight-lipped about what it took to earn its best scores. But this fall, it provided…