People file for bankruptcy protection for a number of reasons: overdue credit card debts, tax obligations, mortgage issues, and more. One benefit of filing for bankruptcy is the ability to modify the terms of your car loan and pay it off through a court ordered repayment plan.
If you’ve got a car and want to handle a particularly difficult car loan, you’re going to look to a repayment plan under Chapter 13 of the US Bankruptcy Code. Depending on your situation you may be able to reduce your interest rate, lower the balance of the car loan, or both.

Prior to implementation of the “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005” (BAPCPA), debtors were able to discharge private student loans in either Chapter 7 or Chapter 13 bankruptcy.  Since then, young Americans have continued to struggle due to: Steep increases in college tuition; Mounting student loans debt; Bleak job prospect after graduation, […]

Tenants and landlords are no exception to the ever growing number of individuals filing bankruptcy. A bankruptcy can be a very stressful situation. Bankruptcy becomes even more stressful when real estate is involved, especially when it involves your home. Anything that could potentially threaten your shelter, a necessity of life, should be taken seriously. It is important that both tenants and landlords know their rights during a bankruptcy effecting real estate.

Commencing December 1, 2015, nearly all of the Official Bankruptcy Forms will be replaced with substantially revised, reformatted and renumbered versions. Having reviewed these forms thoroughly, I can only say that these changes will likely substantially increase both the cost and effort involved for potential bankruptcy filings. The changes will likely be a disaster for self-filers for two reasons. First, they may now have to complete an additional thirty pages of paperwork on their own.

The United States Trustee appointed Mike Malaier as a Chapter 13 Bankruptcy Trustee effective October 1, 2015. Mr. Malaier served as the principal staff attorney for the Chapter 13 Trustee for years before taking over. He will be the Trustee for all Chapter 13 cases arising from Clark, Cowlitz, Pacific, Skamania, Wahkiakum, Pierce, Lewis, Mason, Thurston and Grays Harbor counties. All hearings will continue to be held in Tacoma and Vancouver.

There comes a time when you start looking at picking up extra jobs to improve your financial situation.
For example, Megan Fox used to dress up as a banana. Whoopi Goldberg did time as a phone sex operator before her career took off. Brad Pitt donned a chauffeur’s cap to be a limo driver for strippers.

The following snippet is from the Legal Action television show which airs on Comcast Cable in the suburban Chicago market.  Attorney David Siegel talks about the types and amounts of property that can be kept while filing for Chapter 7 bankruptcy relief.  Interviewer:  When I do Chapter 7, fresh start, is there any property that+ Read More

Talk to people with federal student loans and it’s unlikely that you’ll hear praise for companies responsible for overseeing their loans. Now a report issued by the Consumer Financial Protection Bureau confirms what many borrowers have known all along – the system is broken.