Bankruptcy Tips and Advice - Blogs

Hi Folks, So, there are lots of strategies on the internet for getting out of debt.  As a Bankruptcy attorney for over twenty years, I've heard all of the stories.  Let me start by saying that any attempt to get out of debt is a good thing, but you have to be realistic at the outset, or the whol...

Hi Folks.  I've practiced Bankruptcy law for over 25 years and I've found that most people who have never experienced Bankruptcy believe that the cause of Bankruptcy is almost always related to personal failures. I can tell you that the vast majority of my Bankruptcy clients ended up in Bankru...

Hi Folks, So, the current economic outlook is not good.  While that might not come as surprise, some of the numbers are truly staggering.  Now that we have come out of the Covid-19 pandemic, certain realities are starting to take shape. During the pandemic, surprisingly people actually were abl...

For years the advice was to have an emergency reserve of cash savings to handle unexpected expenses.  In the old days, we used to call this the “coffee can fund”.  The idea was that you would put a few dollars into a coffee grounds tin each month until you (hopefully) got to the magical figure of...

As a Bankruptcy attorney for over 20 years, one of the most common stories that I will hear from clients is how they went on a spending spree without even knowing why they did it.  After establishing some trust with the client, they eventually confide in me that they suffer from bipolar disorder....

Recently there have been a lot of articles related to “cash stuffing” which was a method of budgeting popularized in the 1990's but which has been making a big comeback with Gen Z through social media users. Essentially, cash stuffing is a way of cash-only budgeting that can be very effective.  ...

A client recently called me to express his frustration at how many car dealerships were soliciting him to buy a car while he was in Bankruptcy proceedings.  He thought nobody would lend to him after the Bankruptcy, and in truth, the opposite is actually true. Why is that? Well, first of all, ...

When you file for Bankruptcy, you have to make a lot of hard choices.  One of the hardest choices is whether or not to keep your existing car.  There are several factors that come into play here. First, you have to remember that, in most cases, if you want to keep your car, you are going to have...

Hi Folks.  We get this question all the time.  Many 401(k) (and other retirement plans) make it super easy to borrow against them for all sorts of personal needs.  Right now, the average working age American (aged 25-40) is carrying $27,251 in non-mortgage debt. So when you are looking at those ...

If you are not working, resist the temptation to get into more debt. Once upon a time getting a credit card was a big deal.  I remember my Dad getting a Diner's Card in the 1970's and he was very proud that the qualified for a card that was of extremely limited use.  Today, we read about stories...

When you file for Bankruptcy, the case can last several months (e.g. Ch. 7) or several years (e.g. Ch. 13).  During that period of time, your circumstances can change.  Specifically, it is not unusual for you to want to find a new place to live. So, this can present a problem.  The internet is a...

As life begins to get back to normal after the years of life altering affects of Covid-19, we have to start figuring out solutions to the financial damage that many people experienced.Many people faced serious financial issues as a result of the pandemic that are often not being felt until now.Ye...

Hi Folks, So, let's face it; nobody wants to admit that they are in financial distress, and nobody wants to think that Bankruptcy is the best option for them.  In over twenty years of Bankruptcy practice, the vast majority of people wait until the last minute, when all other options have been ex...

Hi Folks, So, this morning I got a call from a long-time friend and he said that he got a call from a collection agency claiming that he owed a debt from many years ago and they were pursuing legal action against him. This particular friend has really cleaned up his financial situation of the p...

When you are looking for a Bankruptcy attorney you typically go to your web-based search engine and type in “Bankruptcy attorney near me”.  The irony of this search term is that, more often than not, it will send you to the web site of a Bankruptcy attorney who is NOT near you. Bankruptcy is a v...

This is probably the #1 question that I get at some point during my representation of a client.  Here is the short answer:  YES.  You can buy a home after filing for Bankruptcy.  In fact, you can both sell or purchase property while you are in Bankruptcy (with prior court approval), so by definit...

So, the last two years have seen record low Bankruptcy filings, primarily because there have been a number of government programs that have helped consumers to stave off collections and assist with gaps in employment. As the effects of Covid-19 has receded these programs have been coming to an e...

Hi Folks, So I got the following email from Google the other day regarding “ad words” that will be rejected because these industries have been related to scams: In June 2022, Google will update the enforcement procedures for repeat violations with the addition of nine more policies in s...

When I first started as a Bankruptcy attorney over 20 years ago, I used to advertise in a small free community newspaper call the Little Nickle.  Most of my clients came to me because of an old-fashioned newspaper ad, or word of mouth. Today, the internet dominates how we find goods and services...

One of the great frustrations of filing for Bankruptcy is that many of the rules are counter-intuitive.  People want to do the right thing and in the case of debt that means paying off bills.  When people pay debts, it is a function of having money and who you want to pay. Obviously, people clos...

Many people come to my office after having suffered through one, two, or even three garnishments. The truth is that the vast majority of people would prefer to pay their bills instead of filing for Bankruptcy. Therefore, despite how disruptive a wage garnishment can be, many people accept the gar...

Fairly soon, most people will be receiving their W2 forms and they will be running to their local tax preparer in anticipation of that tax refund.  As nice as a tax refund is, it can present some problems if you are planning on filing for Bankruptcy. As always, the best course of action is to ta...

Hi Folks.  So as we emerge from the Covid-19 pandemic issues, rent and finding a place to live are taking center stage for many people. The big problem here is deciding where to live, and when to move in.  If you have a place that you like and are behind in rent, you need to immediately speak to...

Have you ever been at home and on the TV a good-looking spokesman comes on and asks “are you overwhelmed by debt?”  The pitch sounds great.  Nobody wants to talk to their creditors on their own, and filing for Bankruptcy can be intimidating, so the idea of hiring someone who will reduce your bala...

Hi Folks.  So as we are getting out of the Covid-19 shut downs, there are certain economic realities that many local city councils are having to deal with.  Because of the supply chain disruptions from Covid and the recent increase in inflation in building materials, the number of rental units in...