Debt Upon Death (DUD’s)

So What Happens to Debt Upon Death? “You can’t take it with you.“ So goes the age-old adage. Nevertheless, the statement is not an excuse to go nuts with one’s credit cards or paycheck, during a weekend getaway to Vegas. However, as it relates to credit card debt, oftentimes, one can actually do just that…take[…]

5 Things to Avoid Before Filing Bankruptcy

Bankruptcy Pitfalls to Avoid… If a bankruptcy filing is in your near future, be mindful of a few DON’Ts, prior to proceeding: DON’T surrender to creditor harassment and cash out your 401k or IRA accounts to repay credit card debts: (a) you could potentially realize stiff penalties for removing those funds, prior to retirement age[…]

Stop Foreclosure, Bankruptcy, Automatic Stay

Your BFF – Your Bankruptcy ‘Fore Foreclosure (Stops Foreclosure)

What’s a BFF? The term BFF, or Best Friends Forever, has grown to be used largely as a result of television shows (i.e. Friends), social media, and its popularity, in general, along with other acronyms of late (like LOL, SMH, etc.). BFF is used to highlight an extreme bond held between two people. Could be[…]

Bankruptcy Myths & Unicorns

Bankruptcy Myths & Unicorns… As with most things, bad information, gossip and rumors get passed around much more than accurate information and truths ever will. Additionally, more often than not, the bad stuff relates to things that just don’t exist…like unicorns for instance. Although imaginary and mythical, unicorns are creatures reserved for children’s bedtime stories,[…]

Can I Go to Jail for Not Repaying a Debt?

Debtors’ Jail… Debtors’ jails were used in Western Europe during the 19th century for persons that could not repay debts. However, during modern times, these institutions have been generally outlawed and are no longer used, as bankruptcy laws have granted debtors leniency. Nevertheless, debt collectors (and scam artists alike) oftentimes prey on public fears and[…]

Bankyruptcy Type Decisions

Which Bankruptcy Type Looks Better on My Credit – Chapter 7 or Chapter 13?

Bankruptcy Decisions… In deciding whether to file bankruptcy or not, potential clients often ask which bankruptcy type looks better on their credit: a Chapter 7 or Chapter 13? The brief answer is that there is no real difference as to how it affects your credit. However, bankruptcy does impact your credit negatively and can remain[…]

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