Author Archives: Gregory Messer
Can and Cannot: Debts That Can Be Discharged Through Bankruptcy
In addition to immediate protection from garnishment and collection efforts made by creditors, bankruptcy provides tools for discharging or reorganizing your debt. Using the method right for your financial picture helps you get back on your feet financially. With Chapter 7, debt not paid off using funds from liquidated property is eliminated through discharge. In […]
What Can You Keep When You File Bankruptcy?
For many people unable to pay their bills, bankruptcy is the only reasonable option to restore some kind of financial stability. Most people worry about the possessions they will lose in the process. When you file bankruptcy, what can you keep? The answer is more than you think, depending on the type of bankruptcy you […]
Understanding the Bankruptcy Option Right For You
Bankruptcy is a smart option for those facing bills that realistically will never be paid. Understanding the need for consumers to get a fresh start after financial hardship, legislators created options to help you recover financial health. Two of those options are filing for protection under Chapter 7 or Chapter 13 of the U.S. Bankruptcy […]
Fact and Fiction: Myths about Bankruptcy
If you are considering bankruptcy as an option, you need to separate fact from fiction. Consider these points: Fiction: Changes in the bankruptcy law in 2005 made filing for bankruptcy impossible. Fact: Legislative changes to the U.S. Bankruptcy Code in 2005 were made to respond to allegations that too many people were using bankruptcy petitions […]
The Benefits of Bankruptcy
Bankruptcy is a powerful option to help you regain secure financial footing. If you are facing expenses and bills you cannot pay, understanding what bankruptcy has to offer is important. Consider these advantages of filing for bankruptcy: Immediate relief from collection attempts is a primary benefit of filing for any type of bankruptcy. Upon filing […]
Can a Short Sale Reduce Your Taxes and Save Your Credit Score?
The work of a Bronx short sale attorney might appear to be somewhat grim. In fact, however, such lawyers are problem solvers ― short sales help distressed homeowners find smart, livable solutions to the challenges of mortgages that are underwater and no longer affordable. The bottom line on short sales is they provide a fresh […]
Chapter 7: Eligibility And The Means Test
In 2005, significant changes to the U.S. Bankruptcy Code were made to reduce the number of people eligible to file for Chapter 7 bankruptcy, the most commonly filed form of debt relief. Part of the reasoning behind the legislative change was the belief that too many people were using Chapter 7 to obtain easy or […]
Understanding Your Credit Score
A credit score, often called a FICO, is determined from information listed on your credit report. FICO is an acronym for Fair Isaac and Company, the developer of software used to calculate credit scores. Used by insurance companies, lenders and even employers, your credit score is a simple three-digit number with a lot of societal […]
Should You Consider Bankruptcy?
If your finances are too tight and you cannot regularly pay your bills, it is time to take stock of your real financial picture. Recognizing signs of serious insolvency can help you make the decision to move forward with bankruptcy or another option. Some people look at bankruptcy as a reflection of personal, instead of […]
“Medical Bankruptcy” — is it an Option?
In the politically charged atmosphere surrounding the Affordable Care Act, it is hard to get a straight answer about whether medical bankruptcies are a driving factor behind personal insolvency in the United States. By some measures, medical bills are a contributing cause in over 60 percent of bankruptcies filed in the United States. Others say […]
