Yes and No. The term “secured debt†applies when you give the lender a mortgage, deed of trust, or lien on property as collateral for a loan. The most common types of secured debts are home mortgages and car loans. The treatment of secured … [Continue reading]
Do I Still Owe Secured Debts (Mortgages, Car Loans) After Bankruptcy?
Posted on February 10, 2009 Written by
Which Debts Do I Still Owe After Bankruptcy?
Posted on February 9, 2009 Written by
When your bankruptcy is completed, many of your debts are "discharged.â€Â This means they are canceled and you are no longer legally obligated to pay them. However, certain types of debts are NOT discharged in bankruptcy. The following debts are … [Continue reading]
I Want to File a Medical Bankruptcy
Posted on February 8, 2009 Written by
The high cost of health care is one of three primary causes of individual bankruptcy. Frequently, people are left with unaffordable medical bills even if they have health insurance. We get lots of inquiries about "medical bankruptcy". But you … [Continue reading]
Can I Keep One Credit Card Out of My Bankruptcy?
Posted on February 8, 2009 Written by
Clients sometimes ask me if they can keep just one credit card out of the bankruptcy? They want to omit it from the bankruptcy paperwork and keep paying the credit card payments after the bankruptcy filing so they can have one credit line. … [Continue reading]
How Long Will Bankruptcy Stay on My Credit Report?
Posted on February 8, 2009 Written by
The results of your bankruptcy case will be part of your credit record for ten (10) years. The ten years are counted from the date you filed your bankruptcy. This does not mean you can’t get a house, a car, a loan, or a credit card for ten … [Continue reading]
Bankruptcy for Capital-Journal Owner?
Posted on February 7, 2009 Written by
Morris Communications, the owner of the Topeka Capital-Journal, and 12 other daily newspapers, is considering its financial options. The company has hired a well-known Chicago bankruptcy law firm. … [Continue reading]
Save Your Home with Bankruptcy
Posted on February 3, 2009 Written by
Legislation is pending in Congress to change the law to allow judges to modify your home mortgage in chapter 13 bankruptcy. Delinquent mortgages could be stretched out to 40 years, principal due on the loan reduced to the value of the home, and … [Continue reading]
Debtors Arrested for Ignoring Bankruptcy Court Orders, Spending Tax Refunds
Posted on February 1, 2009 Written by
Spending a tax refund that belongs to a bankruptcy estate or ignoring court orders may get you arrested by the U.S. Marshals Service and brought before the bankruptcy judge for contempt of court. The moral of the story is don't spend your tax refunds … [Continue reading]
Gambling Your Way Out of Debt Against the Odds
Posted on February 1, 2009 Written by
You can't gamble your way out of debt problems. The odds are against you.  You might win a jackpot or two but the casino wins in the long run. We can tell you from years of experience that gambling causes many bankruptcy filings. Compulsive … [Continue reading]
Foreclosure Fixes Failing
Posted on January 25, 2009 Written by
DATA: MORTGAGE “FORECLOSURE PREVENTION†FIXES FAILING TO WORK, U.S. HOME FORECLOSURE TOLL NOW EXPECTED TO RISE EVEN HIGHER TO EIGHT MILLION Near Half of Homeowners in “Loan Modification†Programs Face Higher Monthly Payments; Failure of … [Continue reading]
What Else Should I Know About Filing Bankruptcy?
Posted on January 14, 2009 Written by
Utility services--Public utilities, such as the electric company, can not refuse or cut off service because you have filed for bankruptcy. However, the utility can require a deposit for future service and you do have to pay bills which arise after … [Continue reading]
Will Bankruptcy Affect My Credit?
Posted on January 13, 2009 Written by
There is no clear answer to this question. Unfortunately, if you are behind on your bills, your credit may already be bad. Bankruptcy will probably not make things any worse. The fact that you’ve filed a bankruptcy can appear on your credit … [Continue reading]
What Else Must I Do to Complete My Case?
Posted on January 12, 2009 Written by
After your case is filed, you must complete an approved course in personal finances. This course will take approximately two hours to complete. Many of the course providers give you a choice to take the course in-person at a designated location, … [Continue reading]
Will I Have to Go to Bankruptcy Court?
Posted on January 11, 2009 Written by
In most bankruptcy cases, you only have to go to a proceeding called the “meeting of creditors†to meet with the bankruptcy trustee and any creditor who chooses to come. Most of the time, this meeting will be a short and simple procedure where … [Continue reading]
Will Bankruptcy Wipe Out All My Debts?
Posted on January 10, 2009 Written by
Yes, with some exceptions. Bankruptcy will not normally wipe out: Money owed for child support or alimony; Most fines and penalties owed to government agencies; Most taxes and debts incurred to pay taxes which can not be … [Continue reading]
Tax Refund in Bankruptcy
Posted on January 10, 2009 Written by
Cathy Moran on the Bankruptcy Soapbox reminds us of an important asset in bankruptcy: tax refunds. Your federal and state income tax refunds are property of the bankruptcy estate when you file bankruptcy in Kansas. That is true for all refunds … [Continue reading]
