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The thought of having to file bankruptcy can be scary. Friends and family will tell you not to file bankruptcy because it will hurt your credit score. You may even read articles online written by well intentioned authors telling you not to file bankruptcy because it will hurt your credit…

Yet another Celebrity Bankruptcy. Rapper 50 Cent, whose real name is Curtis James Jackson, III, filed for Chapter 11 Bankruptcy Protection on Monday, July 13, 2015. This comes on the heels of a $5 Million judgment entered against him last Friday. The rapper said that he is just re-organizing his…

You may or may not have heard the term “means test” when researching about bankruptcy online or you may have even heard the term when speaking to a bankruptcy lawyer. What exactly is the bankruptcy means test and why should you care? The bankruptcy means test is the starting point…

How to Avoid Overpaying For Your Next Car-Avoid a 72 Month or Longer Term Loan When I was growing up my father told me to never get a car loan longer than 36 months. My first car was 1 year old, it cost $10,000 and my payment was $320 a…

First the three-year car loan was the standard. Then the five-year car loan became the standard, but not anymore. Increases in new car prices have consumers pushing the payment terms to 72 months. The longer term has led to greater costs. 72-month loans have higher interest rates, lead to negative…

One of the first questions all of the clients I meet with want to know is: “should I file bankruptcy?” My answer always is: “it depends”. Many people think I look at their income or their debt to income ratio. Those are things banks look at when you are trying to…

VA Disability Income May Be Included in the Means Test There seems to be a lot of confusion on the internet among both attorneys and non-attorneys about whether VA Disability income is used to determine whether someone passes the bankruptcy means test, which in turn means they can qualify to file…

Picking a Bankruptcy Lawyer After struggling to pay your bills, you’re ready to consider bankruptcy. It’s time to contact a bankruptcy lawyer, but how do you pick a bankruptcy lawyer that is right for you?  Some advertise on TV and radio, others on billboards and bus stops. They seem fine,…

Making Your Debt Manageable Through Chapter 13 Bankruptcy For many individuals who do not qualify or have debt relief needs that cannot be addressed by Chapter 7 bankruptcy, Chapter 13 is an effective route. Chapter 13 bankruptcy provides debtors the breathing room they need to pay back some or all…

 Chapter 7 Bankruptcy Overview Chapter 7 bankruptcy, also known as “fresh start” or “liquidation” bankruptcy, provides debt relief for honest people who are being crushed by overwhelming debt. Many people, from white-collar professionals to blue-collar auto workers, find themselves unable to keep up with credit card, medical or other debts after…