WHAT IS A REAFFIRMATION AGREEMENT?
A reaffirmation agreement is a document which makes you responsible for a particular loan after the bankruptcy. The reaffirmation agreement protects the lender. If you fail to make the loan…
DO I GET TO KEEP MY CAR IN CHAPTER 7?
What happens to my car if I file Chapter 7 Bankruptcy? A Chapter 7 Bankruptcy is a liquidation of one’s unprotected assets to pay creditors. So it’s a matter of…
FEDERAL STUDENT LOAN PAYMENT PAUSE ENDS
The Payment Pause on Federal Student Loans is finally coming to an end. The Payment Pause began in Spring 2020. The Payment Pause has been extended a number of times. …
ARE INCOME TAXES DISCHARGED IN BANKRUPTCY?
Often bankruptcy clients believe they will be stuck with their income tax debt after filing bankruptcy. That is not always the case. You may discharge income taxes in bankruptcy. However,…
What Happens to My Tax Refund When I File Bankruptcy?
A tax refund is simply money owed to you by the IRS. Therefore, your tax refund is an asset that can be used to pay your creditors unless exempted. Necessary Living…
WHAT HAPPENS TO AN EVICTION PROCEEDING WHEN I FILE BANKRUPTCY?
Chapter 7 Bankruptcy Upon filing a Bankruptcy Case the automatic stay arises. The automatic stay stops nearly all debt collection efforts by creditors. However, the automatic stay may expire as…
STUDENT LOAN UPDATES
There have been three, recent developments with student loan relief in the last couple of weeks. These developments relate to the Student Loan Debt Cancellation announced a couple months ago,…
STUDENT LOAN DEBT CANCELLATION IS HERE!
President Biden has announced debt relief available to a number of student loan borrowers. The relief includes both cancellation of student loan debt and an extension of the payment pause.…
WHAT HAPPENS TO MY CAR IN BANKRUPTCY – PART 2
We previously addressed what happens to your vehicle in bankruptcy from the liquidation perspective – is there unprotected equity? This time we will discuss your bankruptcy options regarding your auto…
STUDENT LOAN PAYMENT PAUSE EXTENDED AGAIN
The Student Loan Forbearance under the CARES Act excused borrowers’ payments until January 31, 2022. The government extended this payment pause through April 30, 2022. Student loan borrowers were to…