Blog Posts in February, 2010
Posted on Feb 25, 2010 By Infinity Law Group
Filing for bankruptcy might be preferable to a short sale if you have a recourse mortgage loan and you have other debts besides your house. A Chapter 7 bankruptcy filing can discharge the mortgage ...
Continue reading "What's better - short sale or bankruptcy?" »
Posted on Feb 22, 2010 By Infinity Law Group
The answer to that question depends on many factors such as the level of income of both parties, and whether debts are joint debts. If one spouse accumulated the debt prior to marriage, then he/she ...
Continue reading "If I'm married, do we both have to file for bankruptcy together?" »
Posted on Feb 11, 2010 By Infinity Law Group
An Order for Relief acts as an injunction to stop creditors from collecting on outstanding debts for the duration of the bankruptcy case (often 3-4 months) . As soon as a case is filed with the ...
Continue reading "What is an "order for relief" from bankruptcy?" »
Posted on Feb 10, 2010 By Infinity Law Group
The following is a partial list of debts that may not be discharged in a Boston area bankruptcy filing: Child support Alimony Taxes Education loans Loans repayment borrowed against IRAs Debt ...
Continue reading "What can't be discharged in a bankruptcy in Boston, Massachusetts?" »
Posted on Feb 9, 2010 By Infinity Law Group
One week before the 341 meeting takes place (often one month after filing), the Bankruptcy Trustee requires you to submit your previous year’s bank statements. If, however, you hold extra cash ...
Continue reading "What if I don't tell my attorney about extra cash I'm hiding?" »
Posted on Feb 4, 2010 By Infinity Law Group
So you’ve gotten your bankruptcy discharge and all your old debts are forgiven. You start from square one but chances are, you haven’t altered the way you budget your money, make money and ...
Continue reading "Starting fresh after bankruptcy" »
Posted on Feb 3, 2010 By Infinity Law Group
A tax refund is the property of the bankruptcy trustee. The trustee can use that money to pay off your creditors. However, if you don’t have much equity in your home and chooses the Federal ...
Continue reading "Do I have to give up my tax refund to the bankruptcy trustee?" »
Posted on Feb 2, 2010 By Infinity Law Group
Reaffirming a debt requires you to sign a new contract with the creditor and this new agreement survives the bankruptcy. This is often not advised by bankruptcy attorneys in the Boston area, ...
Continue reading "What is a reaffirmation agreement in bankruptcy?" »
Posted on Feb 1, 2010 By Infinity Law Group
If a potential filer has no funds to pay an attorney, he may consider the following options: • Borrow from friends or family • Use tax refund • Borrow from their retirement plan but ...
Continue reading "How do I pay a bankruptcy attorney and fees when I'm already broke?" »