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A recent article in the American bankruptcy Journal shows the success rates of chapter 13’s filed by debtors who filed Chapter 13 without the guidance of a bankruptcy attorney. The difference between those who filed with an

There is no shame in bankruptcy. That is a point we have tried to emphasis throughout this site. Things happen, and you sometimes need help to get through it. While it is better to file for

1. You only need to pay the minimum each month. Your credit–card bill will show the total amount you owe and a minimum payment, typically about 4% of your bill. Paying at least the minimum payment

By using Facebook, and other social networking sites, you can look up information on a long lost friend, someone you may be interested in dating, or do some investigating on your daughter’s new boyfriend. This

Increased regulation and enforcement has resulted in a much smaller number of debt settlement companies. Most persuade at least some creditors to forgive at least part of the debt. This usually requires a lump sum

Part 2 from a 2 part series of articles 10 Things Bankruptcy Court Won’t Tell You 6. Don’t settle with Mom first or fudge the condo in Boca. Many debtors naturally want to pay back friends and

1. Damage control. Make sure all the accounts you included in your bankruptcy are listed as such, and show $0 balances if you filed Chapter 7. If a creditor continues to report the account as delinquent –which they shouldn’t- your credit score will suffer.

No money down bankruptcy? It is not commonly known that, as many as 70% of Chapter 13’s fail. Because of the limited budget allowance demanded by the Bankruptcy code, unforeseen additional setbacks in the debtors

1. Truth is, if the lender is not going to report to the credit bureau, the debt to income ration should be minimized by not reaffirming the mortgage. 2. Borrower‘s struggling through a Chapter 13 have a hard time making mortgage payments on time; thus the likely hood of negative information is high if reaffirmed. 3. If

Business bankruptcies of all sizes including major corporations, and especially local small Mom and Pop Businesses are failing more and more particularly in the retail areas as the impact of on line shopping hits closer and

21.  Don’t omit or ‘save” a credit card for after your bankruptcy.22.  Don’t fail to list debt to family or other “insiders”.23.  Don’t write bad checks.24.  Don’t give creditors postdated checks.25.  Don’t borrow money without talking to your attorney first26.  Don’t

11.  Don’t give of gift property to anyone.12.  Don’t transfer assets to anyone unless it is a genuine sale for fair value.13.  Don’t cash out retirement plans or 401k’s.14.  Don’t gamble.15.  Don’t hide assets or debts.16.  Don’t forget timeshares or co