Naturally we worry about how filing bankruptcy will affect those we care about.  It is common for a parents to have a car, bank account, even a house, in their names because their daughter or son needed help to buy the car, get a bank account, or qualify for the house.

Many people find themselves in a tough position when they’ve fallen behind on their mortgage payments and are unable to make them up. They try to negotiate with the mortgage company, enter into a loan modification, or some even try to borrow the money from friends or relatives.

By: Marshall G. Reissman Bankruptcy Attorney in St. Petersburg, Florida at The Reissman Law Group, P.A.

By: Marshall G. Reissman Bankruptcy Attorney in St. Petersburg, Florida at The Reissman Law Group, P.A.

Myths and Truths About Chapter 13 Bankruptcy: Part II
Myth:  Debtors who file a Chapter 13 bankruptcy will lose their entire tax refund every year they are in the Chapter 13 without exception.

Myths and Truths About Chapter 7 Bankruptcy: Part II
Myth:  Debtors can include some creditors in a bankruptcy and leave out other creditors so that some creditors can be discharged while debtors continue to pay other creditors.

Recently I,

Many of our clients  had received phone calls from their ‘lender’ (before they were clients) who at the time  sympathized with the fact they were behind on their mortgage payments. These folks are  often told there is a solution for their problem. The lender then proceeds to give the client a long drawn out procedure to follow. At this point, the client has stopped making mortgage payments all together because they were instructed to stop making payments by the lender while going through the loan modification process.

Some things just are.  It does not matter whether we think about it, like it or dislike it.  It is what it is.  Spending our time worrying about it does not change it.  Feeling bad because of it does not make it any different.  Wondering what other people think about it has no affect.
Getting a grip on reality is the first step toward finding a solution.  When it comes to money problems it is easy to try to ignore the problem.  That will work for a while.  Others will worry about it.  That doesn’t help at all.  Feeling bad doesn’t help either.

A mistake that some people make after filing bankruptcy is being too cautious.  Sounds strange, but it’s true.  It feels really good to have a fresh start.  So how can you possibly be too cautious with your credit after the mess your bankruptcy just cleaned up?? 
 I am guilty of it.  Since filing a Chapter 7 I wouldn’t buy anything unless I had cash.  I was driving a reliable vehicle so I didn’t use credit for anything at all.  I was downright afraid of credit cards.   Big mistake.