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When you are watching every penny, you sit at home and make financial calculations in your mind while other people are out engaging in leisure pursuits, or so the influencers on YouTube would have you believe, then you try to spend your free time on income-generating activities, or at least on doing things that do…

If you are bummed out about the fact that everyone in California has been in a foul mood for as long as you can remember, count your blessings. Try driving a few states east to Utah or Texas, where the older generations have managed to impress upon their daughters, even in these turbulent times, that…

In a perfect world, no one would need to use credit cards, but a perfect world is so far away that you have already maxed out one credit card with grocery purchases and other expenses that no one would consider luxuries, and now you are running up the balance on at least one other card.…

How bad your finances are is, at least partially, a matter of perspective. Sure, you don’t have any money left at the end of the month to put into savings. If you are so optimistic that you transfer a percentage of your paycheck into savings every payday, then you end up transferring it back into…

After introductory quotes from texts in Latin, Classical Greek, and Italian, T.S. Eliot’s poem “The Wasteland” begins, “April is the cruellest month.” It is true that April is not especially cuddly, but all of the months are cruel these days. It is as if the financial death toll of the Christmas holidays never ends. Chances…

There is no set formula for determining when an individual should file for bankruptcy. The decision to file for bankruptcy largely depends on the types of debts and assets an individual has. For example, bankruptcy is typically right for someone with a large amount of credit card debt who rents. But bankruptcy may not be…

The biggest difference between Chapter 7 and Chapter 13 bankruptcy is the ability to keep property that is subject to a lien, such as a home or car. In Chapter 13 bankruptcy, this property can usually be retained subject to a repayment plan if the debtor has a high enough qualifying income. In Chapter 7…

While bankruptcy is typically thought of as something for individuals or businesses, in some cases bankruptcy is right for married couples. To qualify for a joint bankruptcy petition, a couple must be legally married. Cohabitation alone is not enough to qualify. A married couple may seek joint bankruptcy under either Chapter 7 or Chapter 13.…

Obviously the goal of bankruptcy to is to get out of debt, but not all debt is created equal. The types debts that are dischargeable in bankruptcy depend on whether you are filing Chapter 7 or Chapter 13 bankruptcy. Debts Dischargeable in Chapter 7 Bankruptcy Chapter 7 bankruptcy allows you to discharge your debts more…

One of the most important forms in an individual bankruptcy filing (as opposed to a business filing) is the Schedule of Assets and Liabilities (Official Form 106) which actually includes 10 other forms, a few of which are discussed below. How to fill out these forms is something you want to understand deeply before beginning.…

The old saying is that the only two things that are certain in life are death and taxes. But in bankruptcy court, taxes aren’t quite a certainty. Certain tax debts can discharged or reduced under Chapter 13 Bankruptcy, and even those tax debts that can’t be discharged can be rolled into a payment plan that…

Most people are not surprised that it actually takes some money to file a bankruptcy case. There are fees for obtaining the required credit counseling certificate, a court filing fee and the fee you pay your attorney to help you file the case. Those fees can vary depending on where you live and the complexity…

    With the new year, our thoughts often turn to resolutions or ways we can improve our lives and increase our chance of catching the brass ring. Perhaps you’ve decided to lose weight, stop smoking or get more exercise. While you are thinking about your goals in those areas, consider also your financial health.…

    You’ve heard it before. A bankruptcy case can help you end creditor harassment, stop foreclosures and prevent repossessions. How can a bankruptcy case have that much power? A set of federal laws called the bankruptcy code governs how we conduct bankruptcy cases in the United States. It  controls where the cases are filed,…

  For many, the stress of managing high credit balances and collection demands before a bankruptcy case is enough to cause them to swear off credit after the bankruptcy case is over. Other clients want to know how soon after the bankruptcy case they will qualify for credit. Creditors can grant new credit to a…