Today, too many families are just one serious illness or one lost paycheck away from financial disaster. It might start out small with a late mortgage payment, but late charges add up fast. The next thing you know you are missing payments and your mortgage company already has zeroed in on beginning foreclosure proceedings.
When to Start Thinking About Bankruptcy
Once you are two months behind...Read More
The purpose of the bankruptcy means test is to determine if your income level is low enough for you to file for Chapter 7 debt relief, or if you can file a Chapter 13 bankruptcy with less than a five-year repayment plan. If your income is above the median family income, you may not be able to file a Chapter 7 bankruptcy.
Ideally, this law prevents people from skipping out on paying debts when...Read More
Many people are afraid of creditors. Because of that, they don’t answer letters or phone calls. Instead of hiding from creditors, it is time to learn how to deal with them. Doing so will make life much easier while you decide if you want to file Chapter 7 or Chapter 13 bankruptcy.
Don’t Be Afraid to Ask Questions
Some creditors use threats to scare people into paying. If a creditor...Read More
In Arizona law, until such time as your name is no longer on the title to your home, you should continue to pay your homeowner’s association fees that are assessed. Walking away after filing a bankruptcy is sometimes not enough to eliminate your personal obligation.
Many times clients call me and ask if it is possible for them to negotiate with their creditors to avoid filing a Bankruptcy. My answer is usually yes, but they better have some cash. While you may not need an attorney to negotiate with your creditors, and may be able to avoid filing a Bankruptcy, you will need to negotiate lump-sum cash settlements with your creditors because the majority of...Read More
No. When my youngest son’s baby tooth was just hanging there, I gave it a little tug and it came out without the assistance of a dentist. Now that his other tooth is a little bit crooked, using some pliers to straighten it out is not an option – he will need a dentist. I am not saying that preparing a bankruptcy is the same as straightening my son’s tooth. I am saying that there are...Read More
I cannot recall with any clarity the number of times that a client has inquired as to filing a Chapter 7 or Chapter 13 bankruptcy and has told me a creditor just called and threatened to garnish their wages if they do not make a payment of “X amount of dollars” by “this Friday.” Such threats leave a person desperate and in panic. In a such a state of mind you can easily make mistakes in...Read More
I was not certain how to begin this blog which began with the launching of my new website, http://abankruptcylawyerwhocares.com/. I decided on the topic suggested in the title because it is a phrase I have heard from many clients. Sometimes these clients are trying to change my mind about advice given to them because that is not what happened to “their friend’s friend.” I always...Read More