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Tag Archives: filing bankruptcy

Should We File Bankruptcy Because of Business Debts?

Writing Q&A, Questions and Answers on a blackboard.

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 2 yet to go. We own a small business that we run out of our home in addition to my being a teacher. ... 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 »

      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

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        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 »

          You Have Not Failed if You File Bankruptcy

          What I most want you to do when facing bankruptcy is to stop assuming or reacting emotionally and start thinking logically.

          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. It allows people otherwise tightly gripped by unmanageable debt to find a way to break free of an otherwise impossible situation. Bankruptcy is ... Read More »

            How to Find a Great Bankruptcy Attorney

            Be my bankruptcy superhero and take the time to find the best bankruptcy attrorney for you.

            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 I am very familiar with what I felt when searching for a bankruptcy attorney. It’s bad enough suffering in silence with debt but ... Read More »

              Will My Mom Paying for Me to Go on a Vacation Hurt My Chances of Filing Bankruptcy? – Dave

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              “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 the minimum payments on them. My daughter will be graduating high school in June and I will be turning 50 yrs old. As ... Read More »

                Should I Stop My Payments if I’m Going to File Chapter 7 Bankruptcy? – Mandy

                Gratuitous use of a cute dog running picture.

                “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 have to pay an attorney up front? Mandy” Dear Mandy, You should not do anything without first meeting with a local bankruptcy attorney ... Read More »

                  Life After Bankruptcy: How to Quickly Have Great Credit and Dumb Mistakes to Avoid

                  With a little education and guidance your life after bankruptcy will be awesome.

                  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 days are now ahead of you but you will need to take action to rebuild a better financial future. Below you will find ... Read More »

                    So You Are Going to File Bankruptcy. That’s Good News. Congratulations.

                    The decision to file bankruptcy should be a celebration.

                    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 had purchased a house and before that had rebuild great credit using secured credit cards. In fact for me, my financial failure and ... Read More »

                      How Quickly Does Bankruptcy Protect Me From My Creditors? – Mary

                      Bankruptcy Road Sign

                      “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 a hard time just paying the important bills. Discover has now stated they will either give me to collections or to an attorney. ... Read More »

                        How to Know if You Should File Bankruptcy

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                        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 »

                          The Incredible Healing Power of Bankruptcy: Chapter 7 & Chapter 13

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                          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 the reality of the situation. I understand the angst and fretting. I myself went bankrupt in 1990. I get it. But since I ... Read More »

                            My Husband Lost His Job. I’d Like to Declare Bankruptcy. – Lyudmilla

                            bankruptcy-1

                            “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 pay his debts. We’ve got a house. Now it’s on short sale. No car, only debts. My question: how much is it cost ... Read More »

                              Symphony Files Chapter 7 Bankruptcy for Creditor Protection

                              Ready to Collapse

                              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 equally dark times. “It’s not something we did lightly,” said Michael Enfield, president of the board of the association. “But sometimes when you’re ... Read More »

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