Category Archives: bankruptcy

Bankruptcy as Part of Your Retirement Plan?

Filing bankruptcy as part of your retirement plan might sound odd, but it merits consideration.  It is hard enough watching your retirement investments shrink without having to worry about paying your creditors.  Bankruptcy can be an important part of your plans to retire and be self sufficient.  Let me explain. If you are approaching retirement…

A Bankruptcy Roadmap and a Helping Hand

As a bankruptcy paralegal, I speak with many people who are lost, overwhelmed and confused because of their crushing debt.  They often know that bankruptcy is what they need, but they also need a helping hand and a roadmap to get started on the right path.  I am often the first voice that our potential…

Chapter 7 Bankruptcy – How Long Does It Last?

One of the most common questions is I get about Chapter 7 bankruptcy is how long the process takes. In my experience, clients spend more time worrying about the decision to file bankruptcy and gathering the necessary paperwork than the time actually spent in bankruptcy. Once a Chapter 7 bankruptcy case is filed, it moves…

Banks to Avoid When Filing Bankruptcy

Debtors who have decided to file for bankruptcy should plan ahead to be ready for the short term consequences that might result. For some debtors, pre-bankruptcy planning may include closing bank accounts and moving their money to a different financial institution. Reasons to switch to a different bank or credit union include: Avoiding having your…

Enforcing a Bankruptcy Discharge Order

So your bankruptcy is over and you have your discharge order, but there is a creditor that just won’t leave you alone.  What happens now?  You need to go back to court to enforce the discharge order. In the recent case of Barrientos v. Wells Fargo Bank, the 9th Circuit Court of Appeals ruled that…

Bankruptcy Basics: The Discharge Order

The main reasons that people file bankruptcy are to stop creditor harassment and get rid of their debts.  For individual debtors, the normal conclusion of a successful bankruptcy results in the entry of a discharge order.  But what exactly is a discharge order? A bankruptcy discharge is a federal court order that prohibits the collection…

Debt Consolidation vs. Bankruptcy

Dave Ramsey is right when he says that debt consolidation is “nothing for than a con” that addresses the symptoms and not the disease.  However, he misses that mark when he says that bankruptcy is an evil to be avoided. When Congress amended the Bankruptcy Code in 2005, it added a provision requiring debtors to…

Getting Rid of Tax Debts Through Bankruptcy

“You can’t get rid of taxes in bankruptcy.” True or false? A lot of people, even many bankruptcy attorneys, believe that taxes cannot be discharged in bankruptcy.  There are many tax debts that do survive bankruptcy such as “trust fund” taxes (i.e. taxes withheld from an employee’s paycheck).  However, some income taxes can be discharged…

Rebuilding Your Credit After Bankruptcy

I find that people with large amounts of debt are often too obsessed with their credit score. Your credit score will not buy your groceries and I doubt that companies such as General Motors, Texaco or United Airlines gave much thought to their respective credit ratings when they filed for bankruptcy. Nonetheless, your credit history…

Stopping Creditor Harassment

Under the Federal Fair Debt Collection Practices Act (“FDCPA”), creditors cannot “harass, oppress, or abuse any person in connection with the collection of a debt”.  Common examples of illegal harassment are: The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person. The…