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Bankruptcy - Click here to view all posts

The latest posts for Bankruptcy are listed below.

Welcome to our Bankruptcy Blog
We are pleased to announce the re-launch of our Bankruptcy Blog .
If I file for bankruptcy, can I still become a U.S. citizen?
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 ...
The bank is auctioning our house. If I file for bankruptcy, can I keep the house?
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 ...

Bankruptcy Exemptions - Click here to view all posts

The latest posts for Bankruptcy Exemptions are listed below.

What happens to my property that is not exempt?
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 ...
New Massachusetts Exemptions - Effective April 7, 2011
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 ...
What are some federal exemptions for bankruptcy?
Here is a partial list of Federal Exemptions for bankruptcy. Married couples filing jointly may double all exemptions. • $20,200 for real property including co-ops and and mobile homes • ...

Chapter 11 - Click here to view all posts

The latest posts for Chapter 11 are listed below.

Can a company filing Chapter 11 stop honoring gift cards?
A retailer may file for bankruptcy and petition to honor gift cards. However, it may also file for bankruptcy and later, after bankruptcy proceedings have begun, it can petition the court to allow it ...
What Different Types of Bankruptcy Should I Consider?
There are four types of bankruptcy cases that can be considered: Chapter 7 : This is known as the “liquidation” bankruptcy which requires a debtor to give up property which exceeds your ...

Chapter 13 - Click here to view all posts

The latest posts for Chapter 13 are listed below.

Does Chapter 13 bankruptcy look better on my credit record than a Chapter 7 bankruptcy?
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 ...
Can I Incur New Debt During a Chapter 13?
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 ...
What is the meeting of creditors?
The ‘meeting of creditors’ is held in every Bankruptcy case. The debtor is required to attend this meeting and this is usually the only meeting or hearing that the debtor is required to ...

Chapter 7 - Click here to view all posts

The latest posts for Chapter 7 are listed below.

Free Finance Tools - Part 2: AnnualCreditReport.com
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 ...
Does Chapter 13 bankruptcy look better on my credit record than a Chapter 7 bankruptcy?
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 ...
Can I Incur New Debt During a Chapter 13?
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 ...

Credit Card Debt - Click here to view all posts

The latest posts for Credit Card Debt are listed below.

Can I Exclude a Credit Card in the Bankruptcy so I have a Credit Card After I File?
Bankruptcy requires that you list all creditors in a bankruptcy. This means that any account that has a balance on it should be listed as a creditor. If you have a zero balance on a credit card when ...
What Happens To Your Credit Card Debt in Bankruptcy?
In Chapter 7 bankruptcy (liquidation of your non-exempt property, if there is any), whatever credit card debt cannot be paid from your non-exempt property is discharged, in other words, eliminated. In ...

Discharging Debt - Click here to view all posts

The latest posts for Discharging Debt are listed below.

Are my recent credit care charges dischargeable once I file for bankruptcy?
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 ...
The Tax Implications of a Bankruptcy Discharge in Boston
Debt forgiveness occurs when one’s bankruptcy case is closed and upon foreclosure and short sale of debtor’s primary residence. If your home is underwater and given up in foreclosure or ...

Finance - Click here to view all posts

The latest posts for Finance are listed below.

Free Finance Tools - Part 3: getcreditable.com
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 ...
Free Finance Tools - Part 1: Spendful.com
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 ...

Foreclosure - Click here to view all posts

The latest posts for Foreclosure are listed below.

What is a deed in lieu of foreclosure?
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 ...

Medical Debt - Click here to view all posts

The latest posts for Medical Debt are listed below.

Will medical debt owed to the hospital affect my credit?
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. ...
Can I discharge the medical expenses of my child?
Uninsured medical expenses are often a reason to seek relief by a bankruptcy discharge of debt. If you are the guarantor for expenses that are incurred by your child or your parent, then you are ...

News - Click here to view all posts

The latest posts for News are listed below.

As the U.S. Deficit Continues to Rise, So Too Do Personal Debts
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 ...

Short Sale - Click here to view all posts

The latest posts for Short Sale are listed below.

What's better - short sale or bankruptcy?
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 ...

Student Loans - Click here to view all posts

The latest posts for Student Loans are listed below.

Will filing for Bankruptcy affect my eligibility for student loans and financial aid?
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 ...
Student Loans and Bankruptcy
*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 ...
How To Discharge Student Loans in a Bankruptcy
How To Discharge Student Loans in a Bankruptcy Student loans are usually nondischargeable. However, these loans may be discharged by showing that it would be an undue hardship on the debtor. This ...

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