See my research, posts, and articles on bankruptcy, including the process, pros and cons, and alternatives. Click the link to explore key insights and options!
Dear Steve Hi! I am a piano teacher, and due to the bad economy have very few students, even though I am used to having plenty. We just moved because we could no longer afford where we lived. We gave up our house in a deed in lieu of foreclosure. My husband took a cut …
Question: Jon, I’m a UK citizen & had good credit that I spent years building. Went to US to study/go to university, and opened up some credit cards while abroad. Debt mounted up & I lost job stateside and couldn’t afford payments anymore, and stopped paying CC’s. My question is, if I apply for bankruptcy …
If you want to see someone instantly disagree with you, tell them that people that file bankruptcy do better financially than people who don’t and struggle. You can subscribe to my podcast on any of these sites below. The Two Sides of Money Troubles When people face unexpected …
Question: Dear Steve, My husband is 68 and I am 62. He has always been in charge of our finances — He recently lost a good-paying job (actually, it was 8 months ago and he just told me yesterday) and started a new one 2 days ago. He went from making $70,000 to $16 an …
It’s official, bankruptcy reform in 2005 totally sucked for people with private student loans. Academic research shows lenders won and consumers lost. Here is the abstract from a paper in the Harvard Law & Policy Review by Alexei Alexandrov and Dalie Jimenez that looks at the data of how the 2005 Bankruptcy Abuse Prevention and …
This week we published a deep look at why bankruptcy frequently fails to provide relief to black Americans struggling with debt. The story focused on Memphis, Tennessee — the bankruptcy capital of the nation — where black debtors have for generations been funneled into Chapter 13, which usually requires five years of payments most have …
Paul Kiel, a reporter, sent me an email and described his latest article which is fascinating in a bankruptcy kind of way. I can attest having observed similar trends anecdotally for decades but his hard work and documentation makes this far too real. You can read the story How the Bankruptcy System Is Failing Black …
This guest post by Eric Olsen is a great example that not all debt experts need to agree all the time. Eric presents a very valid point of view and mine is slightly different. Eric describes a situation where seniors may consider it unnecessary to file bankruptcy. In my experience, bankruptcy in similar situations can …
Question: Dear Steve, Bankruptcy discharge February 2016. Separation from husband March 2016. Still in divorce proceedings. My student loan is in forbearance that will be ending soon. What if your bankruptcy was filed prior to July 2015 date mentioned in the article and now I’m going through a divorce with no chance of child support. …
Imagine you were sick. Really sick. Sick enough to go to a doctor or even a hospital. Perhaps you even looked up your symptoms on the Internet, visited WebMD, did a ton of internet research and were convinced that you needed a professional to help you get better – or things could get much, much …