Can I Repay Family and Friends Before Filing Bankruptcy?
Is okay to pay back family and friends I owe money before filing bankruptcy? No. Family members and friends are insiders. Payments to insiders within 1 year of filing bankruptcy…
What are exemptions? Why do I care?
Bankruptcy exemptions are the Federal and/or State laws which permit you to protect certain property in a Bankruptcy case. A Chapter 7 Bankruptcy case is technically a liquidation of property…
Does Bankruptcy stop a car repo?
If you fall behind on car payments, the lender could repossess the car. Does Bankruptcy prevent the lender from repossessing the car? Yes and no. It depends on what type…
Is my house protected in a Chapter 7 Bankruptcy?
People often ask me, “Will I lose my house if I file Chapter 7 Bankruptcy?” First, you must be current on your mortgage payments when your Bankruptcy case is filed. …
Will I Lose My Tax Refund If I File Bankruptcy?
A tax refund is just another asset which must be protected in order to keep in a Chapter 7 case. While the Earned Income Credit portion is protected, the rest…
I’ve been sued. Now what? Part 2
Another manner in which a creditor may attempt to collect on a judgment is by levying property. Levying property means seizing and selling property to satisfy the judgment. The levy…
I’ve been sued. Now what? Part 1
Once you have been sued and a judgment has been entered, then the creditor can attempt to collect on the judgment. A creditor can collect on a judgment by garnishing…
Can I discharge my student loans?
Congress has made it more and more difficult to discharge student loans in bankruptcy. Prior to 1977 student loans were discharged like other unsecured debt in bankruptcy. In 1977 student…