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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

1. Confirm a chapter 11 or chapter 13 plan under §1123 & §1129(a) although both are ride with too many complications to address here. 2. Redeem it.  Special rules apply to certain vehicles but essentially the debtor

6. It’s really hard to file for bankruptcy. It’s really not. You don’t even technically need an attorney. However, it’s not recommended to go through the procedure without one. I have seen more than one person

1. Everyone will know I’ve filed for bankruptcy. Unless you’re a prominent person or a major corporation and the filing is picked up by the media, the chances are very good that the only people who

1. Denial. It’s been tough, but looks like we made it!” Really? Take a look around. Have you takenany time to think about the future and what it might contain?  What contingency plans do you have

6. Be careful on trying to pay mortgage payments ahead. Sometimes what looks like smart financial planning turns out to be a problem. One example is an attempt to pay your mortgage payments ahead.  Let’s say

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 finances forces many Bankruptcy

Raiding your 401(k). Don’t think of retirement savings as “now” money. It’s money you’ve got to save for later. “Some people use their IRAs, and wind up in bankruptcy,anyway.” Even if you end up having to use it post bankruptcy, it will go a lot further towards survival of your family after bankruptcy;