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Tag Archives: file bankruptcy

New Bankruptcy Forms Make It Easier to File Without an Attorney

happy woman in wheelchair outdoors beach showing victory sign

Now don’t get me wrong, there is no substitute for the experience, knowledge, and wisdom of an experienced bankruptcy attorney. But for decades people have been filing out their own bankruptcy petitions, because they can. The forms were not geared for the average person to easily figure out. On December 1, 2015 the bankruptcy forms are going to change, in ... Read More »

    Here is Exactly Why People Who File Bankruptcy Are Smart


    I seem to spend a lot of time educating people that most everything they know about bankruptcy is just plain wrong. In fact a friend of mine just told me they were going to file bankruptcy and my answer was, “congratulations.” You see, even studies by the Federal Reserve Bank of New York have come to the same conclusion I ... Read More »

      The Fresh Start of a Bankruptcy May Restore Credit Faster


      People consider filing bankruptcy when the alternative has become worse. Figuring out if you are at that point though can be difficult. One misconception that makes people hesitate to file bankruptcy is the impact on their credit. An in depth study by the Federal Reserve Bank comparing the credit of people who’ve filed bankruptcy with those suffering through chronic defaults ... Read More »

        How Avoiding Bankruptcy Can Backfire


        In the world of personal finance, credit concerns and debt issues, there is no single issue that is more misunderstood than bankruptcy. Recently the Federal Reserve Bank of New York came out with an exceptional report on the bankruptcy reform of 2005 — which made it tougher for people to file bankruptcy, and was the last time bankruptcy law was ... Read More »

          Those That File Bankruptcy Do Better Than Those That Don’t

          Woman in yoga lotus  meditation at seaside

          This report is republished from the Federal Reserve Bank of New York and contains the authors analysis and finding about bankruptcy following the 2005 reform. Personal bankruptcy was introduced in the United States through the Bankruptcy Act of 1978. After passage of the act, bankruptcy rates rose steadily until 2005, when Congress passed the Bankruptcy Abuse Prevention and Consumer Protection ... Read More »

            My Life is Hopeless. I Can’t Pay My Bills. What Can I Do?

            Avoid Bankruptcy Monster

            Question: I Can’t Pay My Bills. What Can I Do? Dear Steve, I’m so completely freaked out about my bills. I’m now so in debt and worried about it I can’t sleep, I’m depressed, and all my wife and I do is fight about money. I’m constantly telling my kids they can’t participate in any school events because I can’t ... Read More »

              My Elderly Mother is Struggling in Credit Counseling. What About Bankruptcy? – Tracey

              Sad Elderly Lady

              “Dear Steve, My mother is 77 years of age. Her memory is no longer the best for her finances and she gets confused as to who gets paid what and how much. the debts, even though she doesn’t even use the cards but one walmart for groceries the interest rates and payments have gone over the roof so to speak. ... Read More »

                Bankruptcy is the Best Thing That Ever Happened to Me

                bankruptcy congratulations

                During my first job interview after my bankruptcy, the interviewer asked me what I was “most proud of in my life.” Without hesitating, I stated “declaring bankruptcy!” His quizzical look invited me to explain. And I’ll share what I told him, in just a minute. First though, here’s a Pop Quiz for you: Was going bankrupt the worst thing or ... Read More »

                  Can I File Bankruptcy Without My Husband? – Penni

                  questions narrow

                  “Dear Damon, Bankrupt in 1997; back in the hole with massive credit card debt! We want to sell our home and buy a smaller one now that it’s only us two. He makes decent money, but we barely make ends meet and are starting to fall behind again. I’m wondering if I can file bankruptcy separately from my husband, or ... Read More »

                    You Literally Saved My Life and Financial Future. Thank You. – Steve

                    bankruptcy congratulations

                    “Dear Steve, I just wanted to say thank you as I owe you a debt of gratitude! My partner lost his job due to a health issue and has been unemployed for five years–I tried (in vain) to sustain my debts. I tried every resource to stay afloat. I quickly learned that there are resource to provide loans, payday loans, ... Read More »

                      Everything You Always Wanted and Needed to Know About Bankruptcy


                      Below is my growing list of bankruptcy resources and links. If there is something that’s not addressed in one of those articles, guides, then feel free to ask me your question. Bankruptcy Articles and Posts You Must Read Click Here to Find a Bankruptcy Attorney in Your Area To get ready to read the information below with the right frame ... Read More »

                        Those With Cancer Nearly Three Times More Likely to File for Bankruptcy

                        Cancer patient versus non-cancer patient filing rates.

                        A recent study found adults diagnosed with cancer are 2.65 times more likely to file for bankruptcy while bankruptcy filings are as much as five times higher among your cancer patients. According to the study, led by Scott Ramsey, MD, PhD, an internist and health economist at the Fred Hutchinson Cancer Research Center in Seattle, Washington, between 1995 and 2009 ... Read More »

                          How Far Behind Do I Need to Be to File Bankruptcy? – Jay

                          middle age couple

                          “Dear Steve, Live in Colorado, it’s the usual situation where there have been cut backs at work (outsourcing rrrr) and we are we will begin to fall short on CC payments by our calculations. We estimate maybe $ 200 probably depending on the sequester and barring other fun surprises and stuff. I much do you have to be short a ... Read More »

                            How to Know if You Should File Bankruptcy


                            If you are in financial trouble and struggling to make payments, tapped out, you’ve spent down savings, or living month-to-month, then bankruptcy is worth a good hard look. Below you will find a number of links to posts, articles, and calculators to help educate you about the realities of bankruptcy. Many people carry a lot of baggage around about what ... Read More »

                              Would Filing for Bankruptcy Be Best Thing for Us? – Mary

                              Ready to Collapse

                              “Dear Steve, We were in need of some money to pay our rent that we got behind on after our son died in 2011, when he passed he had no insurance and it was a struggle to come up with the money for his funeral. we have been struggling with all our bills after his death and have not been ... Read More »

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