Articles from St. Charles Bankruptcy Attorney

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Alternatives to Bankruptcy

Submitted by Anonymous (not verified) on Fri, 06/01/2012 - 08:00

Many people go to extreme measure to avoid filing for bankruptcy.  There are a number of alternatives that people may consider that can actually be worse in the long run than filing for bankruptcy.  Below are a few examples.1.

Motion to Retain Insurance Proceeds

Submitted by Anonymous (not verified) on Wed, 05/30/2012 - 08:00

A Chapter 13 Bankruptcy generally lasts for a period of five years.  As we all know a lot can change in a five year period.  Over the course of five years debtors may marry, have children, need to purchase a vehicle, or even suffer damage to a home or vehicle already owned.  If a debtor becomes entitled to insurance proceeds while in bankruptcy he should notify his attorney as soon as possible.
 

Myths and Truths About Chapter 7 Bankruptcy, Part IV

Submitted by Anonymous (not verified) on Fri, 05/25/2012 - 08:00

 Myths and Truths About Chapter 7 Bankruptcy, Part IVMyth:  A debtor can dismiss a Chapter 7 bankruptcy if the Trustee finds assets.Truth:  In a Chapter 7 bankruptcy, it is not possible to voluntarily dismiss your case if the Trustee finds assets.  Generally, a debtor can voluntarily dismiss their case before discharge if they change their mind about filing the bankruptcy; however, this is not the case if the Trustee has found assets.  When a bankruptcy is filed, the debtor has an obligation to list any property they have

Myths and Truths About Chapter 13 Bankruptcy, Part IV

Submitted by Anonymous (not verified) on Fri, 05/25/2012 - 08:00

 Myths and Truths About Chapter 13 Bankruptcy, Part IVMyth:  If a house is jointly owned and in foreclosure, both parties on the loan must file Chapter 13 bankruptcy in order to save the house from foreclosure.Truth:  Both parties on the loan do not need to file bankruptcy in order to save the house from foreclosure.

Residency Requirements

Submitted by Anonymous (not verified) on Fri, 05/25/2012 - 08:00

When considering filing for bankruptcy there are a number of things to consider.  Some of them will be related directly to paperwork, but many of the factors will be life decisions that might not seem related to your bankruptcy on its face.  One such example is the decision to relocate to a different state.  Moving within a state will not cause you any problems with filing, but if you are retaining an attorney you may want to see if that attorney will be able to handle your case after your relocation.  If you are staying in the same general area it shouldn't be a problem, but if you are mov

Non-Dischargeable Debts

Submitted by Anonymous (not verified) on Thu, 05/24/2012 - 08:00

Many people turn to bankruptcy for help when they are in over their heads financially.  Bankruptcy can take care of a number of debts, including unsecured creditors.  However, there are some types of debts that are not dischargeable through either a Chapter 7 or Chapter 13 Bankruptcy.  The list below is intended as guidance, not as an all-inclusive list.  If you have specific questions you should contact your attorney.  Some exampl

Surrendering House Through Bankruptcy

Submitted by Anonymous (not verified) on Wed, 05/23/2012 - 08:00

You file bankruptcy and surrender your home through the bankruptcy. You do not have to worry about the house anymore right? Wrong! The bankruptcy takes care of your legal liability for the DEBT on the house. It does not remove your name from the deed of the property, meaning you are still the owner until the bank forecloses.Steps to Take When Surrendering a Property Through Bankruptcy:1. Purchase hazard insurance to cover any problems that arise while the house is vacant. A regular home owner's policy does not cover damage that occurs when the house is vacant.2.

Filing Bankruptcy to Stop a Garnishment

Submitted by Anonymous (not verified) on Wed, 05/23/2012 - 08:00

If I file bankruptcy today will my paycheck still be garnished tomorrow?The short answer is yes.  However, there are several things to keep in mind:If you are being garnished, you are likely filing bankruptcy to stop that garnishment. Filing bankruptcy will stop the garnishment. Creditors are not allowed to collect from you while you are in the bankruptcy. However, given that payroll is likely done several days before you are actually paid, the garnishment may continue 1-2 paychecks after the bankruptcy is filed.  It is not as simple as filing and the garnishment stopping.

Collections Efforts

Submitted by Anonymous (not verified) on Fri, 05/18/2012 - 08:00

Many individuals filing for bankruptcy experience various types of collections efforts prior to filing.  These collections efforts can include anything from harassing phone calls and letters to law suits and even garnishment.  If you, or someone you know, is currently receiving phone calls or other collections efforts you should contact an attorney immediately. 

Debtor Responsibilities in Reviewing and Filing a Bankruptcy Petition

Submitted by Anonymous (not verified) on Fri, 05/18/2012 - 08:00

Many people filing for bankruptcy choose to hire an attorney to file their petition.  Bankruptcy law is very complex and changes from time to time making it somewhat difficult to navigate for a pro se debtor.  It is important to remember, that even though you have an attorney you are still personally responsible for the completeness and accuracy of your petition. 

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