What did readers want to know about bankruptcy in 2021? Turns out, a bit of everything. Looking at the top 10 posts among the 750 posts on Bankruptcy Soapbox, they were equally curious about how bankruptcy works as they were about life after bankruptcy. Homesteads, taxes, judgment liens are all found in the top ten, […]
Pay Off Credit Cards At Zero Percent
I’ve got news for you: There’s a government program that lets you pay the balance on your credit card without interest and owe nothing more. Sound like one of those snarky radio ads? This one’s legit. Meet Chapter 13. Credit card interest is the killer Here’s the refrain I hear from clients, over and over. I […]
The Causes of Bankruptcy Aren’t What You Think
The columnist who equated debt problems with irresponsibility nearly caused me to melt down, right in my law office. Irresponsibility, he said! The idea that people who find themselves with bills they can’t pay got in that mess through flighty behavior or self absorption is sooooo wrong. The real causes of bankruptcy Mindless spending is […]
Credit Scores Trend Upward After Bankruptcy
After bankruptcy, credit scores go steadily up, says a 17 year study released by the Consumer Financial Protection Bureau. Got that? Go UP. Every year. Importantly, credit scores start improving the same year that the bankruptcy is filed. Think on that for a moment. Creditors and their shills shout that bankruptcy trashes your credit score; […]
Is It Too Late For Bankruptcy?
Worried that it’s too late to file bankruptcy? You’ve put off considering bankruptcy, hoping to tough it out, or hoping for a miracle. But at some point, time runs out: you’ve been served with a lawsuit; judgment has been entered against you; or even, a garnishment appears on your paycheck. Is it too late to […]
Your Bankruptcy Discharge Has Teeth: Bite Back
Your bankruptcy discharge is more than a piece of paper. It’s a federal court order prohibiting action to collect the discharged debt from you. And it has teeth. When creditors ignore a federal court order, it has unpleasant consequences. Or should have consequences. So, my call to debtors is to stop being prey to unscrupulous debt collectors. […]
Bank Account Safe From Credit Card Debt
Your bank can’t take your money in an account to pay their credit card. That’s one less thing to stress about. Credit cards and bank accounts are an exception to the old saw that possession is 9/10th of the the law. After all, the bank would have possession of the money on deposit and a […]
When You Can’t Pay Your Bills Because Of The Virus
The coronavirus has us locked at home where the worry demons play unrestrained in our heads. Money troubles cause us worry, in “good” times. These are hardly good times. As more and more of us are hit with shelter-in-place orders that keep us from work and our kids from school, we have even more time […]
Avoid Paying Taxes On That 1099 Form, Legally
It’s tax time and the mails are full of IRS form 1099. If you managed a short sale of your property; suffered a foreclosure; filed bankruptcy; or settled your debt for less than you owed, you probably got a 1099. But that’s not the end of the tax story. Receipt of the form does not […]
What’s New In Bankruptcy Law in 2021
The new year of 2021 brings us face to face with a desolate economic landscape and the hope of better things to come. For some significant slice of Americans, bankruptcy will be a consideration. You’ll want to know what’s new in 2021 in the array of bankruptcy options and alternatives. I’m writing after passage of […]
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