filing bankruptcy

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  When You Can’t Afford to Go Bankrupt

  A ritual of spring in America is about to begin. Tens of thousands of people will soon get their tax refunds, and when they do, they will finally be able to afford the thing they’ve thought about...

  • Posted March 2, 2018
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  Will They Come and Take My Bed and Clothes If I File Bankruptcy?

  Question: Dear Steve, In the beginning of 2016 I had some cash saved so I joined a friend when he opened up his dealership. Long story short, I lost my initial investment, I wasn’t making any money,...

  • Posted January 10, 2018
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  My Heart Problem and Change in Health Insurance is Unsustainable

  Question: Dear Steve, I was in the paycheck-to-paycheck situation with student loans taking up almost 40% of my income. (I’m on IBR for my federal, but have almost as much in private student loans.) To help with...

  • Posted January 10, 2018
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  For Two Years I’ve Been Contemplating Bankruptcy

  Question: Hi Steve, First, love that you volunteer saving animals, I actually do the same! The reason I write you today is that for nearly two years I have been contemplating filing bankruptcy. Four years ago I...

  • Posted June 16, 2017
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  Is Bankruptcy the Only Answer? – Diane

  Question: Dear Steve, I retired over a year ago. I began using credit cards to continue to support the lifestyle I had been living. MISTAKE NUMBER ONE. I have spent all my retirement savings to continue to...

  • Posted November 30, 2016
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  Where Can I Get the Bankruptcy Forms to Deal With My Debt?

  Question: Dear Steve, Hi, I have been retired 6 years and need to file chapter 7, I am single and my rent is 90% of my take home. And I am looking for work but it seems...

  • Posted August 4, 2016
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  We Were Told Bankruptcy is the Best Option for Us

  Question: Dear Steve, We are in about 90 thousand in debt I am 59 my husband 67 he is on SSI and VA income I am the only one working. I been told that bankruptcy is the...

  • Posted May 26, 2016
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  Different Options for Debt Relief – Finding the Right Solution

  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...

  • Posted February 16, 2016
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  My Bank Won’t Work With Me So I Can Pay My Debt

  Question: Dear Steve, The bank called me and told me that I must pay 12600 first before I can apply for account restructuring with an interest rate of 1%. I was not able to pay it as...

  • Posted January 11, 2016
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  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...

  • Posted June 30, 2015
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  Why a Chapter 7 Bankruptcy Should be Your First Option and Not a Last Resort

  A good friend of mine recently wrote about a subject that is near and dear to my heart. Michael Bovee discussed the greater impact of doing the right thing when getting out of debt. It’s a topic...

  • Posted May 7, 2015
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  Should We File Bankruptcy Because of Business Debts?

  Money, Credit and Debt Advice – Get Out of Debt Guy Question: Is There Hope for Us in Bankruptcy? Dear Steve, We have roughly $80,000 in credit card debt. We have 4 children, 2 in college and...

  • Posted March 30, 2015
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  Those That File Bankruptcy Do Better Than Those That Don’t

  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...

  • Posted February 27, 2015
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  You Literally Saved My Life and Financial Future. Thank You. – Steve

  “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)...

  • Posted June 7, 2013
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  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.

  • Posted May 27, 2013
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  You Have Not Failed if You File Bankruptcy

  A frequent and quiet chorus says people who file bankruptcy have failed in some way, but let’s set the record straight on that myth. It’s not true. Bankruptcy is the law of the land in many countries....

  • Posted May 19, 2013
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  How to Find a Great Bankruptcy Attorney

  I’ve written a number of guides about all sorts of debt related issues but for some reason, I’ve never written one about how to find a great bankruptcy attorney. So here goes. Having lived through bankruptcy myself...

  • Posted April 22, 2013
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  Will My Mom Paying for Me to Go on a Vacation Hurt My Chances of Filing Bankruptcy? – Dave

  “Dear Steve, Situation * I will be filing Chapter 7 bankruptcy. Most likely this will be filed by my attorney next week. I have a large amount of credit card debt and can no longer even make...

  • Posted April 19, 2013
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  Should I Stop My Payments if I’m Going to File Chapter 7 Bankruptcy? – Mandy

  “Dear Steve, I’m over 19,000 in debt and am considering on chapter 7 bankruptcy…. I’d like to know can I stop all payments and if so, will I lose my car, which I need? And will I...

  • Posted April 10, 2013
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  Life After Bankruptcy: How to Quickly Have Great Credit and Dumb Mistakes to Avoid

  So you filed bankruptcy. Congratulations on taking steps necessary to deal with your old debt and get the legal protection and fresh start you are entitled to under the law. Your journey isn’t over though. The best...

  • Posted February 12, 2013
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  So You Are Going to File Bankruptcy. That’s Good News. Congratulations.

  Here is something you don’t expect to hear people say, “If you file bankruptcy your life will get better.” Well, I did file bankruptcy and my life did get better. Within three years after our bankruptcy we...

  • Posted February 5, 2013
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  How Quickly Does Bankruptcy Protect Me From My Creditors? – Mary

  “Dear Steve, 58yo..unemployed for a few years.due to layoff….maxed credit cards and behind by 6 months. Just gave my BK paperwork to attorney. I believe that due to my poor credit, I cannot find a job. Having...

  • Posted February 2, 2013
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  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...

  • Posted January 1, 2013
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  The Incredible Healing Power of Bankruptcy: Chapter 7 & Chapter 13

  Let’s be upfront and open, many people harbor an emotional feeling about bankruptcy and a false belief that bankruptcy is a path chosen by ne’re do wells and reprobates. Yea, that impression has nothing to do with...

  • Posted December 18, 2012
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  My Husband Lost His Job. I’d Like to Declare Bankruptcy. – Lyudmilla

  “Dear Steve, I’d like to declare a bancruptcy, because I can’t afford all my payments. I’m 67 years old. Retired, devorced have got a pension and SS income. My ex-husband lost his business, job and also can’t...

  • Posted December 18, 2012
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• Symphony Files Chapter 7 Bankruptcy for Creditor Protection

  The Napa Valley Register is reporting the Napa Valley Symphony Association has recently filed for chapter 7 bankruptcy protection. The quote by the president of the board certainly sounds similar to that felt by many people facing...

  • Posted July 24, 2012
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• I’m Getting Ready to File Chapter 7 Bankruptcy But Have Some Questions. – Paul

  “Dear Steve, Heading to bankruptcy, retained a law firm, but am waiting to file. I owe the IRS, two states, student loans 1st and second mortgages( 1st is under water) two 401k loans, credit cards(about $90,000). My...

  • Posted July 18, 2012
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• Filing for Personal Bankruptcy

  Filing bankruptcy can be scary. there is no other way around that. I should know, I filed personal bankruptcy in 1990. But just because it’s scary doesn’t mean it’s not the right thing to do. It just...

  • Posted June 4, 2012
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• Bankruptcy Filings Spike With Tax Refunds

  A recent paper from the National Bureau of Economic Research has found that tax refunds create a spike in bankruptcy filings by as much as 7 percent. The reasoning behind this spike is due to households needing...

  • Posted April 17, 2012
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• How to File Bankruptcy Yourself

  Here is an overview about how to file bankruptcy yourself and what to expect. Businesses must have a lawyer or attorney to register a bankruptcy case. Individuals, can, may represent themselves in bankruptcy court. While people can...

  • Posted February 12, 2012
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• Should We File Bankruptcy? – Rosi

  Currently, my husband and I are down to 1 income after I was laid off 3 years ago. We live in Southern california…where cost of living is high. Our annual salary is approx $45K. Due to my...

  • Posted February 7, 2012
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• My Wife and I Are on the Brink of Filing Bankruptcy. – Chris

  “Dear Michael, After a long lay off I started back to work but at a lower pay scale. we had used the credit cards to get by. Now we owe about $850 a month in Credit Card...

  • Posted December 19, 2011
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• If Bankruptcy is a Smart Move for Borders. Why Do People Needlessly Add Stigma to Personal Bankruptcy?

  photo © 2008 Ruthanne Reid | more info (via: Wylio)So the big bookstore Borders filed for bankruptcy today. It always surprises me that consumers place such stigma on personally filing for bankruptcy but when companies do it...

  • Posted February 16, 2011
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• I’ve Been Thinking About Bankruptcy. – Bob

  “Dear Steve, My wife and I have accrued about 90,000 in credit card debt over the past 4-5 years and the more we pay the more we seem to owe. I need help to determine my best...

  • Posted December 28, 2010
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• What State Do I File Bankruptcy In? – Kris

  “Dear Steve, I am currently living in Nebraska and have been since April 1st 2010. My drivers license is from Michigan at my parents address and has been since July 2008. In July 2008 I had made...

  • Posted August 31, 2010
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• I Sit Down With a Bankruptcy Attorney and Talk About Filing Bankruptcy – Get Out of Debt Podcast

  Here is the latest Get Out of Debt podcast. I had the opportunity to sit down with Jeff Jackson, a bankruptcy attorney from Ohio and talked about many different aspects of bankruptcy including: The fear of approaching...

  • Posted June 18, 2010
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• Deborah Wants to Write Letters to Creditors. But is That a Waste of Time?

  Deborah “Dear Steve, I have over $30,000 of debt. Most of this is credit card debt but almost as much is medical (doctors, emergency room, ambulance, nursing home, etc.) I thankfully had insurance that paid 80% of...

  • Posted March 25, 2010
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• Can I Just Tell The Debt Collector That I’m Going to File Bankruptcy to Stop Calls? – Stephaine

  Stephanie “Dear Steve, I have debts and get calls all day long, but I’m to far behind to pay any of them. I just started back working part-time recently and I’m already about to have a pre...

  • Posted March 24, 2010
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• Chandra Wants to Know How to File Bankruptcy For Free

  Chadra “Dear Steve, My mom is 56 years old and disabled and has credit card debt she cant afford to get a lawyer to file bankruptcy is there any way she can file for free and eliminate...

  • Posted March 12, 2010
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• Recent Searches for Debt Advice

  I thought you might be interested in some recent search requests from visitors. It helps to give you a snapshot of what is on the minds of people looking for help. hide phone number from debt collectors...

  • Posted January 25, 2010
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• I’m Being Sued But I Want to Avoid Bankruptcy. – LG

  “Hi Steve, I’ve seen your site and thank you for your work. I need an advice from you regarding my financial situation.I have a debt which would amount to approx.$48k in credit card and a car loan...

  • Posted January 4, 2010
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• Is It Bad to Go Bankrupt? What Does it Feel Like to File Bankruptcy?

  Life is ironic some times. Here I was someone growing up that thought that people that found themselves bankrupt were messed up in some way. Yet in 1990 I found myself in bankruptcy. I learned that living...

  • Posted January 2, 2010
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• Can American Express Sue Me While My Bankruptcy Attorney is Preparing My Case? – Jane

  “Dear Steve, My husband and I had a business that we ended up closing as we got into severe debt. We closed it in 2008 june. We had nearly 180,000 dollars in debt and we took it...

  • Posted December 16, 2009
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• Should I Tell My Creditors I Am in the Process of Filing Bankruptcy? – Sofia

  “Dear Steve, I have $57,000 in credit card debt, famiy of 4, income of $41,000 a year. I also own a home which is worth about $130,000. I am current on the mortage. Last month, I stopped...

  • Posted December 8, 2009
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  Is Bankruptcy Right For Me?

  Bankruptcy Basics Most people think of bankruptcy as a process in which you go to court and get your debts erased. It’s not that simple. In fact, there are two types of bankruptcy: the familiar liquidation bankruptcy,...

  • Posted December 4, 2009
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• I Financed a New Demo Motorcycle Yesterday Even Though I Went Bankrupt.

  Yesterday, Pam and I decided that we wanted to buy a new motorcycle that had been the 2008 dealer demo and only had a few hundred miles on it. We decided to buy a 2008 Honda Goldwing,...

  • Posted September 16, 2009
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• I Filed Chapter 7 Bankruptcy But I’m Scared What I Will Face. – Lee

  “Dear Steve, I racked up lots of credit card debt going through college and graduate school. I have always been able to make miniumum payments and still had good credit. I now have $60,000 in credit card...

  • Posted July 10, 2009
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• I’m Worried About What to Tell My Creditors About My Upcoming Bankruptcy. – Janet

  “Dear Steve, Married with no dependents & in over our heads – we are going to a lawyer soon about bankruptcy – there is no other way – I am horrible depressed – talked to a few...

  • Posted January 31, 2009
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• A Decade in the Closet, About My Bankruptcy

  I am still amazed when I read ignorant stuff about the reason people are going bankrupt is because there is no more stigma about bankruptcy. No, the reason people are going bankrupt is because creditors are manipulating...

  • Posted December 30, 2007
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