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Most of my job is helping people get through the bankruptcy process and out the other side in one piece. Once we have gone through the courts and established a plan, my job is done

We’re going to take a break from bankruptcy today to talk about living trusts. These trusts help to distribute your assets after death. There are two major types of living trusts you can form: revocable

Two of our local judges recently posted an article regarding their travels through the Real Estate Collapse and resulting Foreclosure Crisis. Their analysis reassembles four chapters in a yet unfinished volume. Some of this insight follows: In the

Bloomberg Business recently published an article that pretty much shows the reality of how much “hardship” is required under the “undue hardship” standard when determining if a debtor can discharge student loans in bankruptcy. The

1.    Don’t leave out bank, checking, savings, brokerage, credit union accounts.2.    Don’t use your credit cards.3.    Don’t take credit cards cash advances.4.    Don’t use convenience checks.5.    Don’t make balance transfers.6.    Don’t pay debts to

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

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

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.

1. Personal bankruptcy is not just for the poor. Linda Johnson, an entrepreneur in Georgia, built a life around her six- figure income. But when her new business collided with the credit crunch, Johnson found herself

1. Raiding your 401(k). Don’t think of retirement savings as “now” money. It’s moneyyou’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;

1. Don’t leave out bank, checking, savings, brokerage,  credit union accounts.2. Don’t use your credit cards.3. Don’t take credit cards cash advances.4. Don’t use convenience checks.5. Don’t make balance transfers.6. Don’t pay debts to family.7. Don’t pay debts to friends.8.