One of the most common questions I get asked is: “Will filing for bankruptcy stop a foreclosure?” Generally speaking, a Chapter 7 bankruptcy will not stop a foreclosure from proceeding for very long. If you have stopped paying the mortgage bill, filing a Chapter 7 case will allow you a couple months to delay the…
For some clients, the worst part of their experience when making a bankruptcy filing is organizing and gathering their documents. It’s similar to doing your taxes each year. Here is a summary of the main documents needed before I can prepare a petition for you: Tax Returns for the past 2 years Bank Statements from…
Bankruptcy makes sense for many people who need to make a fresh start financially. Some clients I meet with had known that they needed to do something for a long time. Others never realized the positive effects of a bankruptcy filing until they were sitting across the table from me. Here are some things which…
Yes. Generally speaking, conversion becomes necessary when a change in circumstances makes owning a home or car impossible because the Chapter 13 plan payments are too high. A very typical reason for conversion is when somebody in the household loses their job or has their hours cut at work. The bankruptcy code specifies that you…
Many clients let fear or guilt cloud how they react to financial trouble. They let their past mistakes influence how things go moving forward. The bankruptcy court does not penalize your financial miscues. Instead, it rewards people who can own up to their mistakes with honesty. The essential bankruptcy bargain to remember is that the…