Articles Posted in Bankruptcy

Getting approved for a car loan after bankruptcy can sometimes be a bit tricky. But it happens every day, and you can do it too if you follow the steps below. As of November 2016, six million Americans have stopped paying their car loans. So far this year, a record 32% of all vehicles offered…

I periodically review debt management books to see if there are any new methods that might be useful to my clients. I just finished the book Dear Debt: A Story About Breaking Up with Debt by Melanie Lockert. The book contains a few useful pieces of advice. But the most interesting section deals with the two…

Almost a year ago on December 1, 2015, major changes to the official bankruptcy forms took effect. One of the stated purposes of the changes was to make the forms easier. Unfortunately, the new forms did not accomplish that goal. The official bankruptcy forms are now actually more difficult to complete. Even more changes to…

New Chapter 7 bankruptcy means test numbers take effect today for Chapter 7 cases filed on or after November 1, 2016. The D.C. means test numbers are obviously miscalculated and unfairly exclude bankruptcy debtors in the District of Columbia. Since October 17, 2005, the Department of Justice has promulgated median incomes for Chapter 7 debtors. To qualify for Chapter 7 bankruptcy, you…

When you cannot afford to pay your mortgage, there are a few possible outcomes, including a short sale or foreclosure. If you want to keep your home, however, the best solution is usually mortgage modification. Mortgage modification involves changing the terms of your mortgage loan so that it becomes more affordable to you. Mortgage modification…

Marriage is much more than the spiritual union between two people. Marriage also joins two otherwise completely separate lives — socially, legally, and financially. A problem in one spouse’s life will affect both, and that includes any financial problems, too. You may be engaged to marry someone who just filed for bankruptcy, or someone who…

The racial wage gap is wider today than in it was in 1979. And according to this recent Washington Post article, student debt is exacerbating the gap. Student loans make it more difficult for to save money and accumulate assets. Targeted student loan forgiveness could narrow the racial wealth gap. Education levels directly influence both economic opportunity and…

As a bankruptcy lawyer serving the Washington D.C. area, I have helped hundreds of businesses and individuals seeking debt relief. Most of my clients are a pleasure to serve, but sometimes communications issues arise. Here are some ways that you can help your bankruptcy attorney to advance your case. Help me to help you with these simple key communication…

If you file your Chapter 7 bankruptcy within the next three weeks, you will get your bankruptcy discharge before Christmas. Start your new year off right and get straight with your finances. This holiday season, give yourself the gift of a debt-free life. Most Chapter 7 bankruptcy cases take three months from start to finish. About…

When you file for bankruptcy, you’re giving yourself a financial fresh start. Bankruptcy allows you to easily free yourself from debts you have no realistic ability to repay. Although there are many positive benefits from bankruptcy, your credit will still also take a hit. Before you even file, you should think about the proactive steps you can…