Not likely. Most of your credit cards will close your card/account once they receive notice that you filed a bankruptcy either directly or through the credit reporting bureaus.
Continue reading “Will I be able to keep my credit cards if I file a bankruptcy?” →
If you have made the decision to file bankruptcy, then you should stop using your credit cards. If needed, you can stop paying them and use the money you were using for minimum payments for living expenses.
Continue reading “Should I stop using my credit cards if I decide to file bankruptcy?” →
When you file a bankruptcy, you are required to appear at the 341 Meeting of Creditors (11 U.S.C. 341). You will receive notice of the time and date of your meeting from your attorney and the court. You will attend this meeting with your attorney about a month to 45 days after your case is filed. At this meeting, you will answer the questions of the trustee and possibly some of your creditors.
It depends on what is manageable for you and your family.
Normally, if your credit card balances are equal or in excess of half of your yearly income, then you should speak to a bankruptcy attorney about whether bankruptcy is a good option for you.
Continue reading “Should I file bankruptcy if I only have credit card debt?” →
Yes, but only for a very select few.
Student loans can be similar to a tattoo. When you were young with endless possibilities, it seemed like a good idea. So many people are plagued by student loans and cannot get ahead of the Sallie Mae snowball. What relief is there? Can bankruptcy help?
Unfortunately, bankruptcy cannot help the majority of borrowers. It is heartbreaking that I have to tell clients that there is nothing bankruptcy can do to get rid of these untouchable loans (unless you can meet the impossible Brunner standard). The Brunner standard requires that the debtor in a bankruptcy prove in an adversary proceeding (a lawsuit inside of a bankruptcy) that you can never payback the student loans. This three prong test requires a showing of (i) good faith attempts to pay; (ii) that the debtor is living on a very basic budget that doesn’t allow for payment; and (iii) that the debtor has no future possibility of paying the loans back.
The difficulty of dealing with student loans is a down economy is a hot topic receiving national attention. See New York Times article “Last Plea on School Loans: Proving a Hopeless Future”. For now, discharging student loans is a hard fight and one that is hard to win.
Contact a Miami Bankruptcy Lawyer today for further information.
Yes, but only for a very select few.
Student loans can be similar to a tattoo. When you were young with endless possibilities, it seemed like a good idea. Continue reading “Is it really possible to discharge student loans in bankruptcy?” →