GOLDBACH LAW BLOG
Learn more about bankruptcy law, debt collection, and more. Free tips and checklists to help you better plan and manage your bankruptcy decision.
Bankruptcy Basics
Whether you're up to your neck in loans, out of work or stretching one small paycheck to meet ever-growing obligations, nearly everyone occasionally flirts with the idea of ditching their debt. But the reality of bankruptcy is that it's a complicated legal procedure...
The Basics of Chapter 13 Bankruptcy
Chapter 13 is a type of bankruptcy that allows debtors to reorganize in an attempt to pay back their debts over a certain time period. Before filing for Chapter 13, you should contact a bankruptcy firm in your area and speak with a bankruptcy lawyer to see if Chapter...
Cramdowns in Chapter 13 Bankruptcy
A "cramdown" in a Chapter 13 bankruptcy allows you to reduce the principal balance of a debt to the value of the property it is secured by. By taking advantage of a Chapter 13 cramdown, you may be able to save your car, investment real estate, or certain other...
Chapter 7 Bankruptcy Basics
Bankruptcy is a process that gives a you a financial fresh start, freeing you from overwhelming debt burdens. Chapter 7, also called "liquidation" or "straight bankruptcy," is what many people connect with a bankruptcy case. As a debtor, your assets are sold,...
Chapter 13: Wipe out 2nd trust deed and debt consolidation
We have dedicated our practice to clients in financial distress. We have assisted thousands of people resolve their financial problems ranging from mounting credit card debt to those facing foreclosure of their homes. We understand the multiple concerns and fears of...
Bankruptcy May Be A Solution To A Financial Crisis…
Last week we discussed debts, lawsuits and judgments creditors can have against a debtor. . . What if the debtor doesn’t have the money to pay off these debts? This type of situation can occur when there has been a loss of a job, the inability to work due to an injury...
Chapter 7 Bankruptcy Impact On Credit
Many bankruptcy attorneys find this question very interesting. The credit scoring model is still somewhat inconsistent regarding bankruptcy or other events that should negatively impact your credit score. Although I am not a credit score expert, I do understand what...
What to do When a Tenant Files Bankruptcy
Bankruptcy Basics The legal position of landlords and tenants is best understood when basic principles of bankruptcy are known. Bankruptcy chapters-Tenants in business file bankruptcy petitions under either Chapter 7 or Chapter 11. When a business files for a Chapter...
Surviving Emotional Toll of Bankruptcy
Maybe money can't provide happiness, but it can certainly inspire negative emotions, including sadness, grief, and shame. Those are just a few feelings people may experience when they claim bankruptcy. Chapter 7, the most common form of consumer bankruptcy in the...
