The prospect of a tax refund makes most of us light up even when we haven’t even calculated what the refund might be. But if you’re thinking of filing bankruptcy before you actually see Uncle Sam’s check, take a minute to plan. Your right to that refund is property of your bankruptcy estate even if […]
Debt Can Kill You If You Let It
Debt is deadly. There is a straight-line connection between debt and health: the stress of too much debt erodes physical health. The single largest source of stress in the US, at least before COVID-19, is money. Or lack of money. Other potent sources of stress include work, the economy, family and relationships. As a bankrutpcy […]
The Secret Alternative To Bankruptcy
Looking for the secret alternative to bankruptcy which will solve your debt problems without filing? Why not? Ads for debt settlement companies and do-it-yourself books always promise to reveal the tricks to make your bills vanish for pennies, without resort to bankruptcy. (Isn’t it interesting that these “secrets” are known only by people who want […]
How Filing Bankruptcy Can Benefits Your Heirs
Elders in California enjoy enhanced state exemptions that protect them from debt collectors. Those protections often make it unnecessary for a debt-laden senior to file bankruptcy. But no one talks about one consequence of relying on exemption law to fend off creditors. California exemption laws that fully protect the assets of seniors provide no protection to the heirs. […]
Should You Pay Your Creditors Rather Than File Bankruptcy?
Is there an alternative to bankruptcy, my clients often ask. Can I realistically avoid filing bankruptcy? A fellow bankruptcy lawyer outlined what it takes to get out of debt without bankruptcy. If you could do all three, for long enough, and, your debt isn’t too large, it probably works. I want to pose the question: […]
Why File Bankruptcy? It’s Your Life Expectancy
Increasing life spans and the demise of pension plans is why filing bankruptcy now makes sense. Old debt has a way of sucking the air out of today’s budget. You can’t make repairs to your car or see to needed health care or accumulate an emergency cushion because you’re still paying for stuff you bought […]
What’s So Scary About Bankruptcy?
It’s Halloween and we indulge in make-believe scary moments and call it fun. In real life, fear isn’t so fun. People up to their eyeballs in debt are scared witless by the thought of filing bankruptcy. It frightens them more than haunted houses, ghouls, and blood-soaked bodies. So really: what’s so scary about filing bankruptcy? […]
The Biggest Bankruptcy Mistake You Can Make
The biggest bankruptcy mistake has nothing to do with choice of chapter, exemptions, disclosure, or attorneys. It has to do with timing. The biggest bankruptcy mistake is waiting too long to consider bankruptcy. Time is seldom your friend What’s wrong with letting time pass before making a momentous decision? Doesn’t time heal most wounds? No, […]
Debt Actually Makes You Stupid
It’s easy to tell ourselves that getting into debt was stupid. Maybe, maybe not. Lots of debt happens without making bad decisions. Think of medical bills. Natural disasters. Divorce. But regardless of how you got in debt, there’s more bad news. Just being in debt makes you stupid. Stupid, as in, your IQ goes down […]
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