Bankruptcy

  • Avoiding the “Handy Man” Lawyer

    It may be an obvious fact, but attorneys are not entrepreneurs.  This simple reality may make it difficult to find an attorney that can best represent your needs as an entrepreneur, especially when you’re staring into the face of bankruptcy.   But don’t be dissuaded—this is one of the most important times to make sure you’re securing the best representation possible.   Bankruptcy law tends to attract ...

    Posted at February 11, 2013 | By : | Categories : Bankruptcy | 1 Comment
  • A Window of Opportunity

    One of the sweeping changes made to bankruptcy was the means test.  To qualify to file a Chapter 7 bankruptcy, your gross income needs to be the same or less than the mean of your state – think average.  The number takes into account the size of your family.  You can find your state’s number here.   There are a few ...

    Posted at September 25, 2012 | By : | Categories : Bankruptcy,Chapter 7 | 0 Comment
  • Taking the Reins

    The holidays are over and life is slowly returning back to normal in our new year, 2012.  With the new year comes resolutions and together with losing weight, getting finances under control always tops the list.  As well it should because problematic finances affect every area of life and it’s a radically different world when you’re not worrying about how to ...

    Posted at January 4, 2012 | By : | Categories : Bankruptcy | 0 Comment
  • When Is Debt Not Big Enough for Bankruptcy?

    There isn’t any official threshold and every situation is different (of course), but my informal threshold is about $30,000 in debt.  Here’s why: - You are only able to file Chapter 7 once every 8 years.  A lot can happen in 8 years.  I hate to see people use the safety net if it’s not absolutely necessary. - Bankruptcy will cost in the neighborhood of ...

    Posted at September 11, 2011 | By : | Categories : Bankruptcy | 0 Comment
  • NOT Filing Bankruptcy Will Cost You $1 Million

    I read an interesting article by Matt Berkus out of Colorado laying down the cost of not filing bankruptcy.  I think he's conservative in his numbers.  What do you think? "Every year you spend struggling with debt is one year closer to having a poverty level existence in your golden years. Time is our one limited asset. We can’t make more ...

    Posted at September 10, 2011 | By : | Categories : Bankruptcy | 0 Comment
  • Moral Basis for Bankruptcy

    With each step you take down life's road, it is important to be  comfortable with your decision and insulate yourself against "buyers remorse" as much as possible.  Most people have never given much thought to bankruptcy and its moral underpinnings.  When faced with financial crisis, have too much on their plate to be able to do an analysis they feel comfortable with.  I ...

    Posted at August 21, 2011 | By : | Categories : Bankruptcy | 0 Comment
  • An Introduction to Bankruptcy for the Newbie

    I’m going to give you a quick primer on bankruptcy – what it is and what it can accomplish. Bankruptcy is federal law – those are the big daddies in Washington D.C. but it’s also state specific. It’s all done at the federal courthouse which is almost always nicer than the state one – go figure. Bankruptcy has been around longer than our country and it’s actually provided for in the Constitution ...

    Posted at May 30, 2011 | By : | Categories : Bankruptcy | 0 Comment
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