The reaffirmation agreement is nothing new in bankruptcy law. It is basically an agreement that you will continue to pay on a debt, even though you have been discharged in bankruptcy. The debt normally addressed by a reaffirmation agreement is a secured debt. I have only done one for an unsecured creditor, but we later…
Cleveland Area Bankruptcy Attorney Who Gets People Out Of Debt
Tag Archive: Chapter 7
O is for Old
Eight years between Chapter 7 bankruptcy cases. Many who come to me really don’t pay attention to what was taken away from them by government in bankruptcy reform. Few understand the years required between their old and their new bankruptcy cases. These break into four classes: Eight between filing chapter 7 bankruptcy cases. Six between chapter…
N is for Never
You finally decide to file bankruptcy. I do not expect you to be a lawyer, or to even know the law. There are two things you should never ever do financially, especially in the lead up to bankruptcy. Each basically involves debt consolidation instead of bankruptcy. When should you do them? NEVER! The things you…
M is for Mistakes
Before you see me you need to avoid common mistakes in bankruptcy planning. You need information about bankruptcy. Maybe you need to file. Perhaps you are looking to find the right attorney for a loved one. For whatever reason, you are here with me now. I want to tell you a story. It is about…
K is for Know
Debt Settlement company ads are something that I pay attention to on television. I listen to the noise of these companies because I witness first hand the harm they do to people in desperation. This one was hard to miss because of the messages. They know all the buzzwords to light up anyone in debt….
I is for Involuntary Bankruptcy
Involuntary chapter 7 bankruptcy happens when a creditor files against you in bankruptcy court to force the sale of your non-exempt assets to satisfy a debt. Not just any creditor can file such a proceeding against you: You cannot have more than 12 unsecured creditors. The filing creditor must have a non-contingent, undisputed unsecured claim…
D is for DUI, DWI, OVI
If you had a DUI, DWI, or OVI in your past the bankruptcy code has something for you. Come on, you couldn’t expect that the political hacks in Washington, DC, could ignore the fattest, slowest moving political target. Drunk drivers are the people every politician loves to hate. They included you in the bankruptcy law….
C is for Cosigner
Your cosigner has some big problems if you file bankruptcy. First of all let’s talk about who a cosigner is. Remember when you couldn’t get that loan unless someone signed the loan for you? Most typically this involves car loans, or if you had been arrested, a bail bond. When someone signs with or for…
How Long the Automatic Stay Lasts in Chapter 7 Bankruptcy
You file for Chapter 7 bankruptcy to get a discharge of your debts. You’re worried about how long it’s going to take for the case to go through the court system because you want to be rid of the problems as quickly as possible. The good news is that, in most cases, filing the case…
Bankruptcy Mill. One Size Fits None
Bankruptcy mill attorney ads are all over television. They bring you in, and churn your chapter 7 case through. Are your personal finances unique? Are they different from your neighbor? That is not how one Cleveland bankruptcy mill views you. How do I know this? Recently Cleveland bankruptcy attorney William Balena has had a number…