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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

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