Monthly Archives: February 2012

Bankruptcy will protect your income so that your wages will not be garnished and bank accounts will not be levied. When you are under bankruptcy protection, bank levies, wage garnishments, and any other collections activities will be halted. You will have your income protected while your paperwork is being processed in court. In financially challenging Continue Reading

If you don’t qualify for Chapter 7 bankruptcy because of too much income, Chapter 13 bankruptcy may be the best solution for you. We get calls from clients initially asking for a Chapter 13 without much information on what it takes to qualify for it. A Chapter 13 bankruptcy is much more work than a Continue Reading

There is enough evidence in the current real estate market to prove that banks are now more comfortable with short sale negotiations with underwater home loans. It is important to note that this does not mean they will stop your foreclosure sale under any conditions. Usually, a bank or mortgage company will need a sufficient Continue Reading

Bankruptcy is your best solution to eliminate unsecured debt. Unsecured debt is any debt that is not attached to an asset like credit card debt, medical debt, or unsecured loans. We can illustrate further using credit card debt as an example. When you charge something on a credit card debt, the debt you incur is Continue Reading

Are you concerned about when the best time to file for bankruptcy will be? If you have realized that your debt has grown to an unmanageable amount and you are starting to see your resources depleting your savings, retirement money, and income, now is a good time to file. Your savings, retirement money and income Continue Reading

When people think of bankruptcy and credit scores, the initial impression is that a bankruptcy will have a significant impact on your credit score. This is the most common perspective of a bankruptcy. If you have been late on payments and have an unmanageable amount of debt and payments, your credit score may have already Continue Reading

A bankruptcy may allow you the time you need to enter into Lender Litigation with your mortgage company. Many home owners with distressed home loans have heard the term Lender Litigation and ak us how it would work along with your bankruptcy. If you file for bankruptcy and also intend to sue your lender due Continue Reading

We have received many inquiries regarding student loans and if student loans are dischargeable in a bankruptcy. The answer is complicated. In general, it is possible to discharge student loans in a bankruptcy, but there are very specific conditions, and it is very rare, nationwide, for a student loan to be discharged in a bankruptcy. Continue Reading

There is a lot of news about extension of the government programs that are designed to help home owners keep out of foreclosure. HAFA, HARP, HAMP, Making Home Affordable or MHA… There are several acronyms for these programs today. Many banks are using these programs just to get more information out of you and to Continue Reading

In 2012, we have already helped multiple clients with foreclosure issues and take care of all other debts they are dealing with. Whether you need more time in your home before your trustee sale or whether you want to try to keep your home for the long-term, Bankruptcy Law Professionals has a solution for you. Continue Reading