Articles Posted in Bankruptcy

Bankruptcy solves all sorts of financial problems. But when you’re facing the choice of filing bankruptcy, it can be easy to see only the downsides. If you decide that bankruptcy is the best option for you, try to focus on the benefits instead. Most situations are not as bleak as they seem, and there is…

Credit repair could be considered more of an art than a science. How you, individually, repair your credit depends on how it was damaged in the first place. Educating yourself about how you can repair your credit is smart, but don’t fall for the traps. Here are five common credit repair myths.ç 1. A credit…

Washington, D.C. is one of the most transient metropolitan areas in the world. People not only move into and out of the District. They also move between D.C. and Maryland and Virginia. There are distinct differences between filing bankruptcy in DC, Maryland and Virginia. So where should I file bankruptcy? Jurisdiction is usually based on…

Bankruptcy does not help you pay your bills. If you’re going to go right back into new debt after eliminating all of your old debts, bankruptcy might not be right for you. Or it might not be right for you at the moment. Creditors, generally, do not care about your unfortunate circumstances. So it’s smart…

If you have to file bankruptcy, do it immediately. The longer you delay, the more you’re going to pay. You’ll pay more for attorneys fees because your problems will become more complicated. And your credit score will pay a heavy price if you delay filing bankruptcy when you know you have to file. In less…

If you’re getting calls from debt collectors, you might have several issues going on in your life. You probably don’t have a lot of time to talk to a stranger trying to get you to pay them money. Or you might have all the time in the world but no money to give. If you…

Only bankruptcy will solve certain financial problems. Bankruptcy remains the first and best choice for many common cash-flow and debt issues. Avoiding bankruptcy when it is the smart course of action often does nothing more than make for more difficult outcomes. But there are certain circumstances under which you should NOT file for bankruptcy. If…

There are times when a person has no choice but to declare bankruptcy, and the decision to file will not be a very challenging one at all. However, bankruptcy considerations are often accompanied by emotional stress and strain on personal relationships. Your life is not a theoretical situation. You must ask yourself: Is bankruptcy the…

When you declare bankruptcy, you must be honest in your statements. You must list all of your property, even the most uncommon bankruptcy assets. List your assets in Schedule A/B. Be sure to include all real property, vehicles, inventory, home furnishings, clothing, jewelry, and all other tangible things that you own. Beyond personal and real…

Don’t face your debt alone. Hire a lawyer to stand up for you to your creditors. You want a lawyer who understands you and your goals. But also you want a lawyer who understands your creditors and the entire debt collection process. An advocate who will fight for you. Don’t face your debt alone. At…