I often am asked by potential clients – should they try negotiating with their credit card lenders or file for bankruptcy?  I would prefer that any potential clients would find resolutions to their debt issues prior to filing bankruptcy. The only problem is that most of the time, the credit card lenders are not willing to…

I often see new bankruptcy clients that have tried different ways of dealing with their credit issues prior to filing for bankruptcy. Many times these efforts have led to major mistakes prior to filing for bankruptcy protection. Below is a list of the largest mistakes I have seen from my clients prior to filing bankruptcy:…

Bankruptcy is the best form of debt relief for many reasons to include the following Top 5 reasons: 1. Unlike debt consolidation plans, Chapter 7 bankruptcy wipes out/discharges all your unsecured debt. Chapter 13 in most cases wipes all your unsecured debt at only a cost of a few pennies on the dollar. 2. Chapter…

I am often asked by my clients prior to filing if they can leave off their favorite credit card from the bankruptcy schedules. The easy answer is no. The bankruptcy code requires debtors list all their debts. Failure to leave off assets or creditors could have negative ramifications to include loss of the discharge. Dont…

I am often asked by my clients if they can be sent to jail for not paying their debts. While some may laugh   at such a question, the question is often asked because a local police officer serves a client a lawsuit or the client receives a letter from the sheriff’s office to contact…

I am often asked if bankruptcy or debt consolidation is better for dealing with credit card debt. Although I am a bankruptcy attorney, I try to maintain an objective view on other ways of dealing with debt obligations. In theory, debt consolidation is a great idea if it can significantly reduce all the credit card…

                As  bankruptcy attorney, I often hear some of the same questions on why the potential client shouldn’t file bankruptcy. Here are some of the answers to debunk the myths to filing bankruptcy. Myth number 1. You cant file bankruptcy anymore. This myth is almost gone. After the bankruptcy law changes of 2005, there was a…

This is one of my most popular questions I have from spouses who come to see me to file for bankruptcy protection. Many of the married couples have signed jointly on all their debts to include their mortgages. In their situation, it is usually my advice that they both file since they are both jointly…

The first benefit of filing bankruptcy compared to debt consolidation companies is that all unsecured creditors are wiped out in a Chapter 7 bankruptcy. In a debt consolidation program, you are only hoping that most of the credit card and medical creditors agree to reduce their balance. In most cases, the individual is still paying…

Here are some ways to increase your score after you obtain your bankruptcy discharge:   1. Apply for 1-3 secured credit cards. I recommend getting a card that will allow you to put as high a deposit as possible. Why?  The disposable balance the credit card will report to your credit card report will be…

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