Can I still file for bankruptcy?

Most people have heard about the change to bankruptcy law that went into effect in 2005. Did the law change eliminate bankruptcy? No, it didn’t. The law changed the process for filing for bankruptcy. For most of my clients the law requires they produce more documents before they file. Documents like tax returns and pay stubs. They must complete two hour-long classes on line or by telephone. If they have higher than average income, they must show living expenses that prevent them from paying off their bills. Continue reading

Stopping lawsuits

Can you stop a law suit by filing for bankruptcy? You sure can. Filing a bankruptcy case stops all collection law suits and foreclosures. It protects you from your creditors obtaining garnishments and liens. And it does even more. Continue reading

More People Are Giving Up Their Houses

The latest bankruptcy statistics show new cases filed in March were at the highest level since the bankruptcy law changed in 2005. More people are choosing chapter 7 over chapter 13. That’s because fewer people are choosing to save their homes. That’s unfortunate because these abandoned homes add to the depressed real estate values. Continue reading