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Category Archives: Bankruptcy

5 Tips for Recovering After Bankruptcy

Did you recently file for bankruptcy? Are you worried about your credit? Many bankruptcy filers are surprised by how quickly they can get started repairing their credit after bankruptcy. Rebuilding your credit after bankruptcy is not easy, but it can be done.

Tips for Recovering After Bankruptcy:

  1. Use Credit. This seems counterintuitive. You just filed bankruptcy and discharged your debt. Many instinctively want
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Can Bankruptcy Help When You’re Buried in Student Loans?

Federal student loans have been exempt from bankruptcy discharge since 1978. A change in the law in 2005 gave private student loans the same protection. The “protection” that student loans are offered in this legislation means that student loan debt will often survive bankruptcy proceedings while other types of debt do not. However, some school loans are partially dischargeable in bankruptcy, but if not, the …

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What to Know When Filing for Bankruptcy

You may have decided that you need to file for bankruptcy, but that doesn’t mean that it isn’t scary. If you find yourself fearing the process, remember that bankruptcy laws are there to protect you. You have options even in the midst of impossible financial trouble. Once you’ve decided to file bankruptcy, the process is fairly straight forward.

What Type of Bankruptcy? Once you decide …

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Is Your Lender Threatening to Foreclose on Your Home?

Is your lender threatening to foreclose on your home? You aren’t the only one in this difficult situation. Foreclosure rates across the nation are high and they have been high for some time. Yet homeowners who are facing foreclosure often feel like they have no viable options to stop the process. However, this isn’t necessarily true. There are a number of foreclosure defense strategies …

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How to Qualify for Chapter 7 Bankruptcy

Chapter 7 bankruptcy offers relief from debt by discharging or wiping out most types of unsecured debt. This allows debtors to have a fresh financial start. In order to prevent consumers from abusing the system, Congress put eligibility requirements in place.

Prior Bankruptcies: If you filed Chapter 7 bankruptcy previously and received a discharge of debt, you are required to wait eight years from the …

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When Does Student Loan Debt End Up in Litigation?

When it comes to federal student loan collection, lawsuits are not very common. But they aren’t unheard of either. Why is it less common for the government to sue in order to collect on student loans? Most would agree that it’s because they have a lot of other tools in their debt collecting arsenal. But that doesn’t mean that lawsuits aren’t a tool they …

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Are Creditors Still Calling After You Filed for Bankruptcy?

After you receive your bankruptcy discharge, you don’t owe the debts anymore. So, if creditors are still contacting you about debts included in your bankruptcy, something is wrong. Why are your creditors still pestering you?

The bankruptcy discharge eliminates your liability for debts included in your bankruptcy filing. If a debt was listed in your bankruptcy and you received a discharge of debt, …

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How to Deal with Creditors Who Violate the Discharge Injunction

The main purpose of bankruptcy is to protect consumers from overwhelming debt. The main purpose of filing for Chapter 7 bankruptcy is to obtain a discharge of that debt. This “discharge injunction” is included in Section 524 of the Bankruptcy Code and it means that creditors are legally forbidden to enforce claims for payment against the debtor (petitioner). Creditors are not allowed to seek payment …

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The Benefits of Bankruptcy’s Automatic Stay

Are you familiar with the automatic stay? It is arguably the most desirable benefit of filing for bankruptcy. The automatic stay is a Federal Court Order that prevents your creditors from contacting you for collection purposes once you file for bankruptcy. The automatic stay is cut and dry and effective and it goes into effect immediately upon filing for bankruptcy. In fact, it got …

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How to Stop Creditor Harassment

Do you feel like you may be a victim of unfair debt collection practices? Are you being harassed by a collector? Are you receiving multiple phone calls from a collector each day? Does the debt collector contact your friends, relatives or employer? Does the collector threaten you? Does the collector use offensive language?

If you answered use to any of these questions, you probably …

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