Unfortunately, credit fraud may be presumed under certain circumstances. For instance, if you purchase luxury items of $500 or more on a credit card less than 90 days before filing for bankruptcy or take a cash advance of $750 or more, less than 70 days before filing, it is presumed to be … [Read more...]
Debt Obtained By Fraud
Debts by fraud are not dischargeable when filing for bankruptcy; those who accumulate debt they have no intention of paying back will still be responsible for it after bankruptcy. Using credit cards irresponsibly and accumulating luxury debt right before you file for bankruptcy is a red flag, … [Read more...]
Brunner Test Overview
The Brunner test is a way to determine if certain types of debt can be discharged based on hardship. Bankruptcy does not eliminate all types of debt such as student loans, so tests like these may be used to determine if the debt can be discharged. A Look at the Brunner Test To determine if you … [Read more...]
How Plano Graduates Can Get Out of Student Debt
Learning how to get out of student loan debts may prove helpful to some who are heavily financially burdened. Although it may sometimes be totally eliminated, it is generally difficult to erase. Options for Dealing with Burdensome Student Loan Debt If you’re struggling to make payments, one … [Read more...]
Using Bankruptcy to Delay Foreclosure
Filing for bankruptcy is a serious decision. Although it can discharge some debts and stop harassment from creditors, it stays on a credit report for up to 10 years, damaging filers' credit. However, what happens when a homeowner is behind on mortgage payments and does not want to lose his or her … [Read more...]
Texas Bankruptcy Exemptions
You should be aware of the bankruptcy exemptions in your state if you are filing. When you file for bankruptcy, your assets may be sold in order to pay off creditors for the amount of debt you owe. Each state has different laws as to the types and amounts of assets that can be excluded from sale, … [Read more...]
Top Bankruptcy Myths That Should Bite The Dust – Once And For All
There is no doubt that declaring bankruptcy is an emotionally difficult step. As a bankruptcy attorney, I have witnessed numerous times how good, hard-working people can fall on hard times and be swamped by unmanageable debts. Sometimes, filing for bankruptcy is the only option of getting back on … [Read more...]
4 Reasons You May Wish to Delay Bankruptcy
Although bankruptcy may appear to be your only option, it’s important to understand some reasons why it may be better to wait. There could be financial repercussions you haven’t considered, or you may need to weigh whether Chapter 7 or Chapter 13 bankruptcy is right for you. The following are … [Read more...]
3 Things You Should Avoid When Filing Bankruptcy
Filing for bankruptcy may be your only option if you are unable to meet your financial obligations. Talking with an attorney can help you to decide if this is right choice, and what type of bankruptcy would be in your best interest. What You Shouldn't Do When Filing for Bankruptcy While there are … [Read more...]
4 Things You Should Do in Bankruptcy
Declaring bankruptcy isn’t something that most people intend on doing. But when you cannot pay your bills and creditors are breathing down your neck, it may be the only way to get back on your feet. Although it can be a difficult decision to make, and there may be complexities involved in your … [Read more...]
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