June 9, 2021
Debts Not Listed on Credit Reports in Indiana
Certain debts are not listed on credit reports in Indiana. In fact, these debts will never show up usually in any credit search. Which type of debts do not show up on Indiana credit reports? They usually are related to either medical bills or local service providers. Medical Bills Do Not Show Up on Credit […]
May 26, 2021
Bankruptcy Creates Zombie Mortgages
Zombie mortgages are a new trend showing up in bankruptcy. Zombie mortgages are second mortgages that a debtor mistakenly believes to have been written off after a Chapter 7 bankruptcy. People mistakenly believe these mortgages are dead and long gone. These second mortgages then revive as a “zombie” mortgage when collections start again several years […]
May 12, 2021
How is Household Size Determined in Bankruptcy?
The household size in bankruptcy is determined by how many people are living with you. In bankruptcy, the number in your household can be very important. It can determine whether you are eligible for Chapter 7 bankruptcy. If your household size is large, you can make much more money per year and still file Chapter […]
April 7, 2021
Spending Tax Refund on Car Before Bankruptcy
Can I Use My Tax Refund to Buy a Car Before Bankruptcy? You can use your tax refund to buy a car before filing bankruptcy. Having a paid-in-full car can make life much easier. It can help you make your full recovery after the bankruptcy case is filed. Make Sure the Car Fits Within Your […]
March 24, 2021
Job Layoff and Bankruptcy
Does Job Layoff lead to Bankruptcy? Job layoffs can be very unexpected. They always have a large effect on a family’s budget. Frequently job layoff and bankruptcy go hand in hand. Debts can simply no longer be paid if the income loss from a layoff is too great. You can, however, do a few simple […]
March 10, 2021
The Consumer Bankruptcy Reform Act of 2020
The Consumer Bankruptcy Reform Act is designed to simplify the bankruptcy code. It is designed also to offer more generous protections from creditors. The Act has been proposed primarily by Senator Elizabeth Warren, It has been proposed in response to years of criticism of the infamous Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. […]
February 24, 2021
Chapter 10 Bankruptcy
What is Chapter 10 Bankruptcy? Chapter 10 bankruptcy could soon be a reality. This new bankruptcy chapter will replace Chapter 7 and Chapter 13 bankruptcy under the newly proposed Consumer Bankruptcy Reform Act. If Chapter 10 is adopted, you will be able to file a single Chapter where you can choose to either clear out […]
February 9, 2021
Unemployment and Bankruptcy
Unemployment and bankruptcy frequently go together. A sudden drop in income can destroy a household budget, making it impossible to make debt payments. Bankruptcy can quickly become the only viable solution for debt problems if a period of unemployment lasts months or even years. Unemployment is the Highest Cause of Bankruptcy In fact, unemployment is […]
January 22, 2021
Using Stimulus Checks to File Bankruptcy
Can I Use My COVID-19 Stimulus Check to File Bankruptcy? Stimulus checks are being used more and more frequently for filing for bankruptcy. With debts mounting and collection resuming in the courts, people are using the stimulus checks where it can help the most. Bankruptcy can be a powerful way to deal with all debts […]
January 20, 2021
COVID-19 Medical Bills
Filing Bankruptcy on COVID-19 Medical Bills Medical bills for a hospital stay can come back in the tens of thousands. A hospital stay for COVID-19 can create large bills that are not always covered fully from insurance or the government. You can, however, file on medical bills related to COVID-19. COVID-19 Medical Bills can be […]
