What do I do in bankruptcy if my house or car is worth less than what I owe?

Redeem, Reaffirm or Cram Down the value to keep your secured property. Often clients will ask me what the can do to keep their car or house in bankruptcy when there is a secured loan.  Often, the loan on the home or car is a big part of the financial difficulties that my clients are experiencing.  Many people want to keep ...

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Judgment Ordered, What Happens Next?

Not that long ago, I had a client call me and a collection lawsuit had been filed against her.  She did not know what to do.  We discussed the debt and she admitted that she owed the debt.  She did not know what would happen next.  We discussed that it would be a waste of her limited money to pay me to defend a valid claim and so...

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What happens to a Land Contract Purchase of Real Estate when the Purchaser files for Bankruptcy?

When a property is purchased on contract, land contract or some other form of agreement where the purchaser is renting to own real estate and the purchaser files for it can leave the seller in a precarious position. One of three things is likely to happen depending on the circumstances: First, the seller may file a Motion for Relief...

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Should I file bankruptcy?

Should bankruptcy be filed is a question that many consider every day just as we have heard about the United States debt issues over the last several months. At the last minute the United States has avoided the and, sadly, in doing so most people will experience because of our Congress’ negotiated deal. The United States has the m...

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Rebuild your credit score without delay after filing bankruptcy

Crushing and uncontrollable debt can make your life truly miserable. Things tend to get worse when you can’t make the best use of proper debt relief solutions. It is then that you decide to . In bankruptcy, you become part of a proceeding in the federal court. The proceeding leads to the liquidation of your assets and you’re no l...

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Mortgage After Foreclosure, Bankruptcy and Short Sales

Mortgages and are significant issues for my debt clients that are facing foreclosure, bankruptcy or considering a short sale for their home.  When one of these events happen, there are general rules of thumb of what will happen if you seek a mortgage and when you might be able to qualify for a mortgage. results in the longest waiti...

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What Happens To My Tax Refund in Bankruptcy?

At the beginning of the year, clients always ask bankruptcy attorneys what will happen to their tax refund in .  The answer is “it depends”. There are a number of factors to be considered about a tax refund in bankruptcy.  A tax refund if it is still owed to you at the time of filing is consider...

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Bankruptcy Counseling: Why is it essential for the petitioners?

Are you skeptical whether you can complete the bankruptcy counseling session? If so, then you can get detailed information on bankruptcy counseling from this article. However, the bankruptcy law compels the consumers to get financial education course before they  and discharge their debts. Generally, a pre counseling session helps ...

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What is an Indiana short sale for real estate?

Economic times in the United States are as hard as citizens have experienced in decades leaving homeowners to consider an Indiana short sale to sell their home.  While the stock market rises, home values continue to decline and, contrary to the belief of many, home sales remain stagnant.  As many Indiana realtors will tell their se...

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A snippet on settlement proceeds on personal injury and bankruptcy

Getting injured in a car accident is an everyday story that you may get to hear in the US. Most of the people incur overwhelming debt while managing high medical bills. If you have met with an accident recently, then you’re not required to worry as the negligent party may be ultimately be liable to pay for the bills incurred by you...

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