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Why You Should Always File Your Tax Returns Before Bankruptcy

A few years ago I had a client who needed to file for bankruptcy. He was a talented musician who’d had a few good years but when tastes in music shifted he was left behind.

Now he was working an entry level job at 56 years old just to make ends meet. And he was deep

By |January 14th, 2016|

The Bible on Debt and The Morality of Bankruptcy

Let’s talk about the morality of being in – and being unable to get out of – debt.

There’s no clause in a credit card contract that speaks to morality or ethics. There are bad people who have credit cards and pay them on time.

There are also good people who can’t make their payments on time.

This is,

By |November 29th, 2015|

What Are the True Costs of Filing for Bankruptcy?

No one expects to be over their head in debt and thinking about bankruptcy. But sometimes there’s no other way out of your debt problems, and the only way to get your financial house in order is to wipe the slate clean.

Bankruptcy is designed to be a final option for resetting your finances, bringing your

By |October 16th, 2015|

Keeping Your Car Through Bankruptcy – Good Idea, or Budget Buster?

My clients who are looking at bankruptcy as a way to get out of debt worry about their car. Is it a good idea to get rid of it in favor of a less expensive vehicle? Will either the court or their car lender force them to surrender the vehicle?

Cities such as New York, Boston

By |October 15th, 2015|

Use This Simple Bankruptcy Trick To Slash Your Car Payments

People file for bankruptcy protection for a number of reasons: overdue credit card debts, tax obligations, mortgage issues, and more. One benefit of filing for bankruptcy is the ability to modify the terms of your car loan and pay it off through a court ordered repayment plan.

If you’ve got a car and want to handle a

By |October 7th, 2015|

Why This Successful Business Owner Filed For Bankruptcy

For some people, filing for bankruptcy comes only when the money is gone and they’ve got no ability to repay their debts.

But for one entrepreneur and his wife, filing  their Chapter 11 bankruptcy petition was a way to keep things going and ensure that everyone got paid.

Craig Walker and his wife, Susan, filed for Chapter 11

By |August 26th, 2015|

California Woman Wipes Out School Debt in Bankruptcy

Sometimes the most important question about discharging student loans in bankruptcy can be as small as whether you received the check. That’s what Tarra Christoff found when she filed for bankruptcy in Northern California.

In 2002, Tarra Christoff applied to Center for Transformative Learning at Meridian University, a private university in California, with the goal of

By |August 24th, 2015|

Is It Smart to Use Bankruptcy to Buy Time on Student Loan Payments?

If you’re in debt up to your eyeballs, you look to the bankruptcy laws to help you dig out of the hole and start over.

That, after all, is what the law’s designed to do – give you another opportunity to put yourself in a better financial position.

But if your debts include student loans, you quickly

By |August 3rd, 2015|

Why Filing for Bankruptcy Isn’t Smart

In over 19 years of being a bankruptcy lawyer I’ve heard – and been part of – both sides of the discussion about how smart it is to file for bankruptcy. After much consideration, I’ve concluded that it’s a stupid conversation.

There’s a lot of misinformation out there about bankruptcy.

Credit counselors and debt settlement companies will

By |July 6th, 2015|

Texas Court Rules Against Borrower In Student Loan Bankruptcy Discharge Case

Just because you list a student loan debt on your bankruptcy case doesn’t mean it’s wiped out once the case is over. You need to take additional action – but before that, you need to do your homework.

Once upon a time, student loans were dischargeable in bankruptcy court.

As the years went by, more limits were

By |May 28th, 2015|