When consulting with potential clients, I typically get this two part question: “Can I keep one credit card out of the bankruptcy so I have it for emergencies?” No. “How long will it take for me to get another credit card after bankruptcy?” Typically soon after if that is really the path you choose to
Bankruptcy Makes you Seem “Out of Control?”
The Internet is a wonderful place. I truly mean that. Today, we have vital information available to us whenever we need it. With the good comes the bad and unfortunately, the internet is infested with so called “experts” dishing out so called “advice.” I have seen one too many financial “experts” discussing bankruptcy in
Whips, Cribs and the American Dream
When you hear the term “American Dream,” what do you think of? Almost subconsciously, you picture the house, the yard, the SUV, the family and the dog. We have been conditioned to think this way. This conditioning instills in us a sense of failure if certain life milestones are not met. Having met these milestones,
Strategic Transfers of Property
When the words “transfer,” “property” and “bankruptcy” come together, a blinking red light starts going off and alarm bells start to ring. 9 times out of 10 transferring property prior to filing bankruptcy will create serious issues in your case that could threaten your discharge. At a minimum, the bankruptcy trustee may have the right
The Confiscated Tax Refund
It’s that time of year again…tax time. For many, this is a wonderful time where you will be refunded the taxes you overpaid to the government. Many view the refund as a savings plan and rely on that yearly return to pay property tax, catch up on bills and/or pay for a family vacation. While
Before You Say “I Do!”
Here we are again at the intersection of love and bankruptcy. Back in August I explored the (new to me) topic of dating and bankruptcy. It was inspired by an article on CNN Money discussing how for many singles, bad credit is an absolute deal breaker. In the survey conducted by freecreditscore.com, 75% of
Pulling Back the Curtain on the Attorney Fee
As Dorothy marched down the “Yellow Brick Road” with her three companions, she had one goal in mind. She needed to get to the Wizard in order to get home. The Wizard was to be her savior and her ticket back to Kansas. While he ultimately offers some sage advice, the man behind the curtain
Still Dealing with Sandy
It has been more than a year since Hurricane Sandy struck and devastated the south shore of Long Island. As a resident of Freeport, living one block from the water, I experienced first hand the impact of the storm. After the initial shock of the storm subsided, I realized that many people’s financial lives would
The Neverending Bankruptcy
“Never give up and good luck will always find you…” – Falcor The Neverending Story is probably my favorite childhood movie and the book (quite different from the movie) was not so bad either. It is the story of Bastian, a young, tormented boy who finds a well needed escape in a fantasy book called
Family, Friends and Bankruptcy
It’s pretty straight forward. If you’re in my office or considering bankruptcy, you are experiencing some financial hardship. Most people consider bankruptcy a last resort. This is due to the stigma surrounding bankruptcy based on misinformation perpetrated by so called “experts” and the irrational fear that “bankruptcy will ruin your credit.” When going through a