Most consumer debtors who file for bankruptcy generally prefer to do so under Chapter 7 as it allows them to totally wipe out all their debts right away. Chapter 13, on the other hand, generally requires a debtor to pay their debts (or a portion of it) over a…read more
Do I Qualify Under the Means Test?
Fear of Damage To Your Credit Stopping You From Filing For Bankruptcy?
Many of my clients were initially very hesitant to consider bankruptcy protection as a solution for their financial woes. Bankruptcy connotes all sorts of bad things for many different people. For some people, bankruptcy labels one as a failure. Many do not understand that bankruptcy is not a scarlet…read more
Is There Debt Relief For Me?
The other day, a husband and wife came to my office holding a Summons and Complaint. It was a lawsuit for collection of a credit card debt that they owed. They were not expecting this lawsuit as they had signed up with a debt relief agency about 6 months…read more
How Long Does Bankruptcy Stay In My Credit Report?
When people are deciding whether or not to file for bankruptcy one of their main considerations is the question of how long a bankruptcy will affect their credit report. Under the Fair Credit Reporting Act (FCRA), information included in your credit report can stay for seven years. However, there…read more
What to Do When Served With A Summons
Pedro has overextended his credit and has been unable to keep updated with his payments. He is now trying to avoid his credit collectors. One of his creditors has now hired an attorney who has filed a collection lawsuit against him. A Summons was just served on Pedro giving…read more