Bankruptcy Blog
Posted on Mar 14, 2012 By Boston Bankruptcy Attorney
The current United States account-deficit is at an unexpected high of $124.1 billion, a number that is said to be the largest it has reached in three years. A report issued by the Department of ...
Continue reading "As the U.S. Deficit Continues to Rise, So Too Do Personal Debts" »
Posted on Dec 13, 2011 By Bankruptcy Attorney
We are pleased to announce the re-launch of our Bankruptcy Blog .
Continue reading "Welcome to our Bankruptcy Blog" »
Posted on Nov 15, 2011 By Infinity Law Group
Yes you may still become a U.S. citizen because filing for bankruptcy doesn’t disqualify you from applying for Naturalization. However, one thing you will have to deal with due to filing for ...
Continue reading "If I file for bankruptcy, can I still become a U.S. citizen?" »
Posted on Oct 21, 2011 By Infinity Law Group
In order to keep the house, you will have to file for bankruptcy before the auction date. If you file after the house is auctioned off then the house will no longer be yours and you will have no ...
Continue reading "The bank is auctioning our house. If I file for bankruptcy, can I keep the house?" »
Posted on Sep 12, 2011 By Infinity Law Group
A denial of a discharge means that ALL of your debts will be non-dischargeable. This would be the worst case scenario for someone trying to file for bankruptcy. This is because a denial of discharge ...
Continue reading "What is the difference between being denied a discharged and non-dischargeable debt?" »
Posted on Aug 30, 2011 By Infinity Law Group
The goal for anyone is to avoid the need to file for bankruptcy. Many of us struggle with credit card debt and in fact, a large majority of cases I receive is people that are overwhelmed with credit ...
Continue reading "Free Finance Tools - Part 3: getcreditable.com" »
Posted on Aug 29, 2011 By Infinity Law Group
Another cause for people filing personal bankruptcy is identity theft. Most people who are victims of identity theft don’t know about it until all of their credit has been maxed out by some ...
Continue reading "Free Finance Tools - Part 2: AnnualCreditReport.com" »
Posted on Aug 26, 2011 By Infinity Law Group
One of the causes of bankruptcy is that people get overwhelmed with spending more than they’re taking in – in other words, budgeting. Spendful.com is a new site that helps you budget from ...
Continue reading "Free Finance Tools - Part 1: Spendful.com" »
Posted on Jul 5, 2011 By Infinity Law Group
Some people may believe that a Chapter 13 bankruptcy will look better on their credit record. Many believe this to be the case because in a Chapter 13, the debtor is paying back some of their debt ...
Continue reading "Does Chapter 13 bankruptcy look better on my credit record than a Chapter 7 bankruptcy?" »
Posted on Jul 1, 2011 By Infinity Law Group
Generally you are not allowed to use any credit cards that you had when you filed for Chapter 13 Banktupcy. However, there are some instances when you can obtain credit for some specific need of ...
Continue reading "Can I Incur New Debt During a Chapter 13?" »
Posted on Jun 29, 2011 By Infinity Law Group
While Massachusetts has changed their Bankruptcy exemption to allow for more protection of debtors property, there is still the possibility that a debtor will have non-exempt property. When you have ...
Continue reading "What happens to my property that is not exempt?" »
Posted on May 26, 2011 By Infinity Law Group
A co-signer is one who has signed his or her name along with the borrower and has agreed to pay the debt of another if the primary borrower is unable to. In many instances, a co-signer will be a ...
Continue reading "What will happen to my Co-Signer if I file for Bankruptcy?" »
Posted on May 20, 2011 By Infinity Law Group
Yes, you will be able to file by yourself however, your spouse will still be liable for any joint debts. Also, if you file together you will be able to double your exemptions. If only one spouse has ...
Continue reading "If I Am Married, Can I File Bankruptcy By Myself?" »
Posted on Apr 11, 2011 By Infinity Law Group
On April 7, 2011, the Massachusetts governor signed a bill named “An Act Further Regulating Debt Collection” that has increased the personal property exemptions for residents of ...
Continue reading "New Massachusetts Exemptions - Effective April 7, 2011" »
Posted on Apr 5, 2011 By Infinity Law Group
Yes, most hospitals will turn debt owed to them over to collection agencies. These agencies may report the debt to credit reporting agencies. If this occurs, your credit score will likely suffer. ...
Continue reading "Will medical debt owed to the hospital affect my credit?" »
Posted on Apr 4, 2011 By Infinity Law Group
While there are many fees that can be waived in the bankruptcy process, it will require filling out many forms in order to prove that you are extremely poor. Getting yourself a bankruptcy lawyer to ...
Continue reading "Is there a way to file bankruptcy for free?" »
Posted on Mar 30, 2011 By Infinity Law Group
Tax refunds can be protected under a Chapter 7 bankruptcy. While you can not hide your tax refund from the Bankruptcy Trustee, you will be able to claim this refund as an exemption. While the ...
Continue reading "How can I protect my tax refunds when filing for bankruptcy?" »
Posted on Mar 18, 2011 By Infinity Law Group
Yes, Paypal funds are considered an asset. For those of you not aware what PayPal is, PayPal is a business that allows payment and money transfers over the Internet. PayPal is similar to cash because ...
Continue reading "Do I have to disclose my PayPal funds when filing for bankruptcy?" »
Posted on Mar 2, 2011 By Infinity Law Group
Yes, you will be able to file for bankruptcy if you are outside of the United States. You will first need to be a resident of the jurisdiction in which you want to file and then a lawyer will be able ...
Continue reading "Can I file for bankruptcy if I am currently outside of the United States?" »
Posted on Feb 28, 2011 By Infinity Law Group
While most credit card debt is dischargeable through bankruptcy, some credit card debt may be non-dischargeable. For example, credit card debt that was charged right before filing for bankruptcy may ...
Continue reading "Are my recent credit care charges dischargeable once I file for bankruptcy?" »
Posted on Feb 23, 2011 By Infinity Law Group
Generally, a bankruptcy will not have an impact on a student’s eligibility for federal student aid. Under 11 USC 525(c), there is an anti-discrimination rule that says that grant or loan aid may ...
Continue reading "Will filing for Bankruptcy affect my eligibility for student loans and financial aid?" »
Posted on Feb 8, 2011 By Infinity Law Group
*Guest post by Attorney Adam S. Minsky, Esq. In general, most student loans will not be dischargeable in bankruptcy. There are some limited (and important) exceptions to this general rule which I will ...
Continue reading "Student Loans and Bankruptcy" »
Posted on Jan 25, 2011 By Infinity Law Group
If you do not have excessive debts, it may be appropriate for you to contact your creditors in order to work out a repayment plan with them. This would likely be advisable in instances where your debt ...
Continue reading "Can I negotiate payments with my creditors without filing for bankruptcy?" »
Posted on Jan 19, 2011 By Infinity Law Group
If you need to start a bankruptcy case as soon as possible, you may fill out a “skeleton form.” Skeleton filing is when you fill out only the Voluntary Petition which is basically an ...
Continue reading "How can I start a bankruptcy case as soon as possible?" »
Posted on Jan 13, 2011 By Infinity Law Group
A deed in lieu of foreclosure is different from a foreclosure because it is done voluntarily. It is when you voluntarily transfer title to the property back to the bank/lender instead of having them ...
Continue reading "What is a deed in lieu of foreclosure?" »