Medical Expenses, Bankruptcy, and Stress – Part 2

December 7, 2012

Now it’s time for the good news. Most – if not all – of the stress associated with filing for bankruptcy can be relieved surprisingly easily. In an article on the stress-relieving benefits of filing for bankruptcy, attorney John O’Connor mentioned Arnold Palmer’s assertion that golf is 90% mental and concluded that “the same is […]

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Medical Expenses, Bankruptcy, and Stress – Part 1

December 3, 2012

Poor health and bankruptcy are often intertwined in a two-way causal relationship: Poor health leads to bankruptcy and bankruptcy leads to poor health. Elizabeth Warren, who was just elected to the U.S. Senate, also happens to be an expert on American bankruptcy law. In a 2005 study conducted with Harvard colleague David Himmelstein, she found […]

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Which Type of Bankruptcy Case Should I File?

November 19, 2012

Choosing the right chapter of the Bankruptcy Code under which to file your case is a complex matter. The specific details of your situation must be considered. I offer general guidelines to simplify this process. But in the end you may need the help of an experienced bankruptcy attorney. The Different Kinds of Bankruptcy Consumers […]

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Paying Criminal Restitution via Chapter 13 Bankruptcy

November 19, 2012

Sometimes different areas of law can conflict. Bankruptcy law is particularly prone to such conflicts. One prime example is found in the relationship between bankruptcy law and criminal law. The purpose of bankruptcy is to give the debtor a fresh start by “discharging” or wiping out his or her debts. But what if one of […]

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The Bankruptcy Process Is About Tough Decisions

November 6, 2012

Deciding to file for bankruptcy is a tough decision. If it was easy then everyone would do it and the law itself probably would not be effective.  Bankruptcy is a give-and-take system.  You want to get out of debt but in return you must generally give  up something.  Whether it is giving up an asset, living […]

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Why Do I Have to List All My Debts?

October 30, 2012
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Clients frequently ask about not listing a particular debt in the bankruptcy. This is usually that first credit card that they received as a freshman in college. It has become a reminder of more carefree days and so they want to hold on to it. But yes, you must list all of your debts on […]

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Guarding your Retirement

October 22, 2012

You’ve been a hard worker all your life and you have even been conscientiously contributing to your company’s 401k or 403b plan. You have a pot of gold you can rely on when you’re no longer able to work.  Unfortunately, through no fault of your own, disaster strikes – a major illness, a loss of […]

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Beware of Debt Consolidation

October 8, 2012

    There is a major industry that preys on the unsuspecting public in this harsh economic climate.   They claim that they’re equipped to help you get out of debt without filing for bankruptcy.  There are a few honest ones who might be able to help, depending on your circumstances.  When evaluating these companies and […]

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A Loan Modification with a Happy ending

October 1, 2012

The financial meltdown that clobbered this country was widespread.  It affected hard-working people who thought they were on the road to achieving the American dream:  home ownership and retirement savings.  It came as a shock to many as they watched their income disappear and their homes threatened. Sometimes, though, when hard-working people decide to put […]

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To Short Sell Or Not To Short Sell

August 21, 2012

To Short Sell or not to Short Sell In the early days of the short sale craze, I would warn my clients that a short sale benefits two people, but actually, it benefits three parties: the bank, who does not have to take responsibility for the real property and may even get a write-off for […]

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Your Credit After Bankruptcy

July 10, 2012
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A frequent objection about filing for bankruptcy is how it will impact your credit score. Well, what is your score today?  Have you been borrowing from credit cards to pay off other debts?  Have you been late on any of your bills?  When last did you check your credit score?  The stellar score you had […]

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