Filing Bankruptcy At Age 21, 25, 30, 35, 40, 45 – When Should You File?

To determine when or if to file a bankruptcy case requires one to examine multiple factors. Age is not really a critical factor--as explained more fully below--but it is one to consider.  [pullquote]More on Bankruptcy Issues Unique To Elderly/Seniors[/pullquote] A 23 year old is going to have different goals than someone who is, say,  60 or 75. Older people do not own exclusive rights to financial problems.  It happens to those more junior in years as well. Factors To Consider Before [...]

2021-09-05T11:44:18-07:00October 31st, 2018|

What Happens If I Forget To List A Debt In My Bankruptcy Case?

Is It A Problem To Forget To List A Bankruptcy Debt? It is hard to remember everything. In a bankruptcy case you are supposed to list all the people, or entities, to whom you owe money. Even if you do not yet owe the money, but the underlying cause of the possible debt already occurred, it should be listed. The reason for this is the ever popular "due process" concept we hold dear in this country. Creditors (parties owed money [...]

2021-07-25T19:38:08-07:00July 10th, 2018|

What Happens When You Ignore Debt Collectors

Ignoring Debt Collectors Can Be Detrimental To Your Health Do not ignore your debts--even if you think they are gone or "charged off". This article shows a prime reason why you should explore all options to resolve your debts.   Whether through bankruptcy or otherwise, it is important to do so even if you think the debts are gone. Judgment Creditors Can Seize Your Bank Account Without Further Notice Most know when a debt is being pursued by a collector. The [...]

2021-07-25T19:45:52-07:00December 14th, 2017|

How To Self Report Current Payments On Your Credit Report After Bankruptcy

You file a bankruptcy case and receive your discharge of debts. You are keeping your house and cars and continue making the payments on time. You assume this will help you rebuild your credit. But none of those payments shows up on your credit report. Why not? The most common reason given is that since the debt was discharged in bankruptcy, they cannot report voluntary payments being made on the loan. Let me explain this issue a bit further before getting [...]

2021-07-25T21:58:55-07:00June 27th, 2016|

Why You Should Not Repay Debts Before Filing Bankruptcy

Why pay off a credit card or other debts before you file bankruptcy? This would seem to be a counter-intuitive thing to do.  After all, you're filing bankruptcy presumably because you need to eliminate debts. But many debtors choose to pay off some of their creditors right before filing bankruptcy. Many think that by paying off a credit card before filing bankruptcy, they will continue to be able to use that card after bankruptcy and that it will not be [...]

2021-07-26T11:49:43-07:00August 17th, 2015|

Can I File Bankruptcy After Being Sued To Stop A Judgment?

Is it ever too late to file a bankruptcy case? The short answer is:  No, it is never too late. But there can be consequences to waiting. Most people wait until the last possible moment before considering bankruptcy as an option. They make decisions and act, or fail to act, without getting all the necessary information. The longer they wait, the more options disappear and the more problems arise. As I discussed in my article on When You Should File [...]

2021-12-19T17:58:27-08:00April 2nd, 2014|
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