Blog Posts in 2010
Posted on Dec 14, 2010 By Nicholas Westbrook
One of the common terms in Chapter 7 and Chapter 13 Bankruptcy is "discharge" of your debts. A discharge in Bankruptcy is a Court Order that imposes a permanent injunction against applicable ...
Continue reading "Exceptions to the Court’s Discharge: When a Creditor Can Still Collect After Bankruptcy" »
Posted on Nov 30, 2010 By Nicholas Westbrook
A recent study by the University of Michigan School of Law found that an increasing number of people over the age of 65 are filing for Bankruptcy protection. Fortunately, most retirement savings ...
Continue reading "Bankruptcy Can Protect Your Retirement Accounts" »
Posted on Nov 4, 2010 By Nicholas Westbrook
The Bankruptcy laws are meant to give an honest debtor a fresh start, but not a head start. The Bankruptcy laws protect honest debtors who comply with the numerous requirements and substantially ...
Continue reading "Bankruptcy Fraud Can Result in Serious Penalties" »
Posted on Oct 20, 2010 By Nicholas Westbrook
Remember the old saying, "Consider the source?" Well, when you get your legal advice from the internet or your know-it-all friend or relative, remember to "consider the source." There are many ...
Continue reading "Be Aware of Bankruptcy Myths and Half-Truths" »
Posted on Oct 14, 2010 By Nicholas Westbrook
According to several sources, home foreclosures have increased dramatically in the third quarter of 2010. In July, August, and September, foreclosure filings increased to 930,437, while over 370,000 ...
Continue reading "Nationwide Probe Begins as to Improper Foreclosures" »
Posted on Oct 12, 2010 By Nicholas Westbrook
The typical Chapter 7 Bankruptcy Case is closed between five and six months after the Case is filed. Chapter 7 of the U.S. Bankruptcy Code is streamlined to discharge cases quickly when there are no ...
Continue reading "How Long Will My Chapter 7 Bankruptcy Case Last?" »
Posted on Aug 19, 2010 By Nicholas Westbrook
There are many reasons you may want to repay a debt that has been discharged through Bankruptcy. Whether it is an obligation to a family member, friend, or a local creditor, there is no prohibition ...
Continue reading "Repaying a Debt After Bankruptcy" »
Posted on Aug 16, 2010 By Nicholas Westbrook
The Administrative Office of the United States Courts has published free information and nine short online videos that explain the Bankruptcy process in easy to understand terms. The series is ...
Continue reading "Federal Courts Offer Free Bankruptcy Information" »
Posted on Aug 16, 2010 By Nicholas Westbrook
Homebuilder confidence has continued to decrease this year, as buyers are more attracted to more affordable, foreclosed homes at a fraction of the usual price. The National Association of Home ...
Continue reading "Fewer People Are Buying New Homes" »
Posted on Aug 12, 2010 By Nicholas Westbrook
The Federal Trade Commission recently announced new rules to prohibit debt settlement firms from collecting up-front fees from their customers. The FTC's new rules take effect October 27, 2010, and ...
Continue reading "Don’t Be Misled By Debt Settlement Companies" »
Posted on Aug 6, 2010 By Nicholas Westbrook
What do Abraham Lincoln, Mark Twain and Walt Disney have in common? How about Kim Basinger, Larry King and Burt Reynolds? The answer is: they have all filed personal Bankruptcy and gone on to have ...
Continue reading "A Brighter Financial Future is a Phone Call Away" »
Posted on Aug 3, 2010 By Nicholas Westbrook
When a person files Bankruptcy, the federal law stops creditor collection actions and gives the debtor an opportunity to formulate a plan to repay or eliminate his or her debts. When a person owes a ...
Continue reading "Bankruptcy Can Stop Disconnection of Utilities" »
Posted on Jul 30, 2010 By Nicholas Westbrook
During most of my initial consultations, the person sitting across from me asks: "Will filing Bankruptcy ruin my credit?" The short answer is "Yes." It is common sense that filing Bankruptcy will have ...
Continue reading "Will Bankruptcy Ruin My Credit?" »
Posted on Apr 14, 2010 By Nicholas Westbrook
In 2009, Bankruptcy filings increased by 32% according to the Associated Press. A significant number of these filings included small business owners who were overwhelmed with debt and needed a fresh ...
Continue reading "Personal Liability for Business Debts" »
Posted on Feb 16, 2010 By Nicholas Westbrook
You may qualify for Chapter 7 Bankruptcy relief if you are insolvent and cannot afford to pay your creditors. Although Chapter 7 provides numerous advantages for debtors, including help with credit ...
Continue reading "Transferring Property Before Bankruptcy May Cause Problems" »
Posted on Feb 4, 2010 By Nicholas Westbrook
Earlier today, a potential client asked if consumer Bankruptcy could help discharge prior income taxes owed to the IRS. To answer this question, it is important to review FIVE basic rules found in the ...
Continue reading "Discharging IRS Tax Debts Through Bankruptcy" »