Don’t Raid Your Retirement Money

September 4, 2013

  Saving for retirement is something that most people are aware they need to do.  However, many find it difficult just to make ends meet, let alone put away money for the future.  Some people have found themselves in circumstances where they needed to use the money they had saved for retirement to pay for […]

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National Chapter 13 Plan

August 9, 2013

Right now, there is a movement by a committee of judges and trustees towards the creation of a uniform national Chapter 13 plan.  It will arguably provide greater benefits to debtors and creditors and place greater burdens on Chapter 13 trustees. Currently, each judicial district has its own customized Chapter 13 plan — there is […]

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Pay Your Student Loans During Bankruptcy

July 24, 2013

Most bankruptcy cases fall into one of two categories, chapter 7 cases and chapter 13 cases.  In a chapter 7 bankruptcy, certain debts are generally discharged, or wiped out, in a matter of a few months.  In a chapter 13 case, an individual can choose to repay certain debts over a period of time up […]

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Medical Bills Biggest Cause of Bankruptcies

July 24, 2013

Nearly 20 percent of the national population is struggling with healthcare-related expenses. Healthcare is the number one cause of bankruptcy filings, surpassing credit card bills and unpaid mortgages. Such bankruptcies represent about 60 percent of all filings. Accidents and illnesses unleash an overwhelming load of medical debt. Having health insurance does not absorb the financial […]

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Lien Stripping in Chapter 7?

July 18, 2013

Lien stripping refers to the process of eliminating your junior liens (such as second or third mortgages and home equity lines of credit) from your real estate.  Lien stripping allows you to get rid of the “wholly unsecured” liens on your real estate, including your residence.  It is accomplished through a Chapter 13 proceeding and […]

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Rebuilding Your Credit After Bankruptcy

July 1, 2013

The fact that you filed a bankruptcy will be reflected on your credit report for 10 years. However, if you have a lot of debt and are behind on it, then your credit probably isn’t very good anyway.  Late payments and unpaid debt will stay on your credit report for 7 years. Filing bankruptcy does […]

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