Bankruptcy can't get rid of most creditor liens on what you own. But judgment liens on your home are an exception.
Even bankruptcy cannot help if you drink and drive, cause an accident, and hurt somebody, damage property, or are fined.
If you can, don't do cash advances during the holidays if you're contemplating filing bankruptcy. If you do, understand the rules about them.
If you're considering filing bankruptcy, try to avoid using credit cards to finance the holidays. But if you do, there are some extra risks.
Some of the assets you may want to protect in a bankruptcy case are those that are security for debts.
"Credit counseling" has to be done shortly before filing bankruptcy, "debtor education" shortly after. The latter may even be worthwhile.
Start by assuming that debts are written off in bankruptcy, while knowing that there are some important exceptions that may apply to you.
Bankruptcy works largely on the honor system. Actually it's closer to a "trust, but verify" system.
You may not be able to write off debts "for fraud or defalcation while acting in a fiduciary capacity." Should this concern you?
Your financial difficulties may include an unresolved claim against you for personal injury or property damage.
Understanding the most common kinds of "fraud" challenge to the discharge of your debts will enable you to avoid these challenges.
Although most debts are legally written off when you file bankruptcy, creditors can object by alleging you incurred the debt fraudulently.
If I legally owe debts, and maybe even have a court judgment saying I do, how can bankruptcy wipe away those debts and erase that judgment?
Besides providing a unique and powerful way to catch up on support arrearage, Chapter 13 can discharge other debts from your divorce.
Going through bankruptcy is much more comfortable if its language is decoded for you. Hereâs a practical way to do this.