Bankruptcy FAQ – Frequently Asked Questions

Recent Posts from Bankruptcy FAQ – Frequently Asked Questions

• I will be on CNN Radio this Saturday – Bankruptcy and Credit Scoring www.cnn650.com

  I will be on CNN Radio, 9 am CT, this Saturday, on Bankruptcy and Credit Scoring. Tune in at www.cnn650.com or 650 AM in Houston.

• Chapter 11 is sometimes the solution

  Most consumer bankruptcy attorneys do not understand Chapter 11. Most of our cases are Chapter 7 or 13, but there are sometimes that Chapter 11 is the best choice. The most common use of Chapter…

• More numbers false signs of a recovery

  The Mortgage Bankers Association reported that loan applications rose 17 from the week before says the Hosuton Business Journal, perhaps in an attempt to grab headlines that the economy is improving. Asie from the fact…

• Redeem your car in Chapter 7

  In Chapter 7 you have the option of redeeming your car by paying or getting a loan only for what it is worth even if that is a lot less than what you owe on…

• The economy is going to stay bad for several years and bankruptcy filings continue to rise

  Recent hotel industry association figures released the other day indicate a 17.5 percent drop in revenue per available room. It is very hard to believe the reports of a rebound when you see such numbers.…

• Chapter 13 has an undeserved bad rap, it is actually a very good option

  It seems that often Chapter 13 gets a bad rap.   I disagree I think it is a good chapter.  Here are some good reasons to file Chapter 13, other than stopping foreclosures and repossessions: -You…

• You must file bankruptcy before the foreclosure sale date to stop a foreclosure

  In Chapter 13 you have the right to cure defaults in a mortgage up to the foreclosure sale. On some states you may be able to use Chapter 13 to redeem if there is a…

• Employers including the government cannot fire employees who file bankrupcty

  Bankruptcy filers receive a number of protections in Section 525. Governmental entities may not discriminate in a wide variety of ways including denying or failing to renew licenses.  Especially those in the military and others…

• Mortgage crisis to hit commercial loans – Will #bankruptcy also rise? (#iranelection)

  Business Week reports that commercial mortgage defaults are on the rise and could be the next default wave. According to the editorial the default for commercial mortgages hit 2.25 percent – a fifteen year high.…

• Avoiding recent credit card charges and cash advances before bankruptcy filing

  In addition to advising my clients to stop charging in preparation for their bankruptcy filing – once I meet with them, I have to advise them that in some rare cases a creditor will object…