Bankruptcy laws provide individuals seeking debt relief two main avenues to that relief: Chapter 7 and Chapter 13. Chapter 7 bankruptcy, often called liquidation or straight bankruptcy, is the most common form. In Chapter 7 debts like credit cards, medical bills, and utility bills can usually be completely discharged or wiped out. Bankruptcy courts may [...]
In Minnesota, your homeowner's association fees are a lien against your property. If you don't pay the fees, your homeowner's association can foreclose its lien against your property and you could lose your home. If you are behind in your homeowner's association fees, you can use a Chapter 13 debt consolidation plan to force your [...]
Until the mid-19th century, many people would go to jail for debt. Similar to today's workhouses, you could go to jail for debt until the debt was paid off. Debtors prisons were abolished long ago, but there are still are ways that you can go to jail for unpaid debt. If you are held in contempt [...]
Your Credit Score (720creditscore.com) Poor credit is very costly, because it means high interest rates for car loans, credit cards, and mortgages. There is no reason for you to live with poor credit. Bankruptcy and www.720creditscore.com can help. While it is possible to have a credit of over 800, a score of at least 720 [...]
Harvard study found that nearly 70% of bankruptcy cases are Medical Bankruptcy. With today's high deductibles, the situation hasn't improved. Illness can mean time off of work and reduced income. Medical Bankruptcy eliminates medical debt, but only the medical bills that are owed as of the date of filing your bankruptcy petition. If you are currently running [...]
Student Loans in Bankruptcy In order to eliminate student loans in bankruptcy, it is necessary to sue the lender and prove that it would be an "undue hardship" to be required to repay the loan. The courts have interpreted this requirement stringently, making it difficult for most borrowers to eliminate their student loans in bankruptcy. [...]
Have you been sued in Minnesota? - Understanding Debt Lawsuit When credit cards, bank loans, medical bills and other debts become seriously delinquent, the creditors usually send them to a collection agency first. If the collection agency can't collect the debt, then it may go to a collections lawyer who will sue to collect the debt. [...]
The waiting period for obtaining an FHA or VA mortgage after bankruptcy is two years after you receive your Chapter 7 bankruptcy discharge.. It normally takes about three months to get your discharge after we file your bankruptcy petition with the court. However, there is a new rule that allows you to obtain an FHA [...]
When you run into financial problems and bills begin to mount, it can sometimes be hard keeping track of companies you owe money to. You might receive calls from multiple collection companies and they often do not identify who they are collecting for. In order to eliminate your debts in bankruptcy it is important to [...]
You might be worried about what friends and relatives will think of you if you file for bankruptcy protection. You can relax. Your friends and relatives want what is best for you. For example, one of my clients was borrowing heavily from his parents in order to keep up with his credit card debt. His [...]
Credit counseling companies were originally created by the banks to collect debts for them. They offer "debt management plans" where by people can consolidate their debts and pay them off in full over a period of five years. They try to negotiate lower interest rates for the credit cards so that they can be paid [...]
Filing Bankruptcy Exclude Debts: I am often asked Can a Person Filing Bankruptcy Exclude Debts They Want to Pay?. When you file a bankruptcy petition, you must give the court a complete list of your debts. You are not allowed to leave anything off. However, it is possible to repay debts that you have listed [...]
When a person has filed bankruptcy in the past, they may want to know how long they must wait to file bankruptcy again. If a person has filed a Chapter 7 bankruptcy petition and received a discharge of their debts, they must wait 8 years before they can file another Chapter 7 petition. However, the [...]
Chapter 7 Bankruptcy Chapter 7 bankruptcy allows a person to eliminate most types of debts completely, while allowing a person to keep all assets that are exempt from creditors. The court filing fee and attorney’s fee for Chapter 7 bankruptcy must be paid in advance. If a person wants Chapter 7 bankruptcy and is not [...]
There are a number of potential pitfalls and tricks in the ever-changing bankruptcy laws, so it is very important to consult with a knowledgeable bankruptcy attorney. If your case is filed wrong, it may be dismissed for not filing a required document and if you have to file a new case you may not be [...]
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Email: greg@waldlawfirm.com
WE ARE A DEBT RELIEF AGENCY. WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE!
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