Retired With Debt Struggles: Do I Need to File Bankruptcy?

Retired With Debt: Do I Need To File Bankruptcy? In most cases, when a person retires, their retirement income is less than their prior working income. Unfortunately, existing creditors still want to be paid on time and in full; they

How Long After Bankruptcy, Foreclosure or a Short Sale Until I Qualify for a Home / Mortgage Loan?

I represent many people that file bankruptcy, have a short sale or foreclosure. So, I get the following expected questions on a regular basis. After Bankruptcy – When Do I Qualify To Buy a Home? After Foreclosure – When Do I Qualify To

How Often Can You File Chapter 7 Bankruptcy?

How Often Can You File Chapter 7 Bankruptcy? If you want to file a Chapter 7 now, but you filed a prior bankruptcy, you can file a new Chapter 7 with the following limitations.  A New Chapter 7 Following A

Can A Debtor Buy a Home After Chapter 7 Bankruptcy?

Can A Debtor Buy a Home After Chapter 7 Bankruptcy? Yes, a debtor is allowed to buy a home following a Chapter 7 (liquidation) bankruptcy.  Here is how that can happen.   [Can A Debtor Buy A Home While In

Is One Spouse Liable for the Medical Bills of the Other?

One Spouse’s Liability for Debts of the Other Here is a common scenario.  Spouse #1 goes to the doctor to have some body part fixed.  Let’s say the bill to the Spouse  for those services  is $1,000.  Twelve months later, Spouse #1 and

What is a “Medical Bankruptcy”?

What is a Medical Bankruptcy? Actually, that is a trick question.  There is no such thing under the law as a “medical bankruptcy.” There is no option under the Bankruptcy Code to file bankruptcy solely on medical debt.   Any

The Impact of Chapter 7 on Your Home And Mortgage

The Impact of Chapter 7 on Your Home And Mortgage Your Current Home: The Note and Deed of Trust In purchasing a home/real estate, there are at least two parts to the transaction: (a) the Promissory Note that indicates you

How Do You Value Assets In Bankruptcy?

 How Do You Value Assets In Bankruptcy? Exempt vs. Non-Exempt Assets The Bankruptcy Code requires that a debtor list/disclose all of their assets in the petition.   People get to protect/keep certain assets from the claims of creditors.  These protected assets

Mortgages, Reaffirmation Agreements & Credit Reports

A Mortgage Not Reaffirmed & Not On Your Credit Report You may be reading this because your mortgage company has told you that they cannot (or will not) report your mortgage payment history on your credit report because you did

How Can a Consumer Get A Free Credit Report?

Free Annual Credit Report – Federal Requirement Each consumer is entitled by federal law to one free credit report per year from each of the three main credit reporting agencies.   The easiest way to get your free report is to