Contrary to popular belief, it is possible to rebuild your credit rapidly after the filing of a Bankruptcy Case. Yes, some restrictions such as restrictions on Mortgage applications will apply. But, the good that will come from receiving a discharge via a Chapter 7 or Chapter 13 Bankruptcy case will far outweigh the bad. A […]
Can I Transfer Property Out of My Name Prior to Bankruptcy?
The short answer to whether you can transfer property out of your name prior to bankruptcy is no. This is deemed a fraudulent transfer under the bankruptcy code and can have some undesirable affects on your case. Many times individuals looking to file bankruptcy will consider transferring a car or house out of their name […]
Tips to Obtaining Loans After Your Bankruptcy
CBS News has a new article discussing the purchase of a car after you have filed bankruptcy. It very insightful on going through the steps to getting a decent auto loan. In my experience, our clients who were able to get the best rates were able to do the following: 1. Make all payments to […]
Student Loans are Dischargeable if Not for Qualified Educational Expenses
Interesting blog on The Huffington Post today. While most student loans are dischargeable in bankruptcy, certain loans that do not suffice as qualified educational expenses will be discharged in a bankruptcy. This does not apply to most bankruptcy debtors, but will for a few. I did lookup information on the Radio1 Broadcast School and from […]
How is a Non-Filing Spouse Affected by Bankruptcy?
Just about every single one of our married bankruptcy clients filing individually ask us how the bankruptcy will affect a non-filing spouse. In Michigan, the answer is generally not at all. The spouse of a bankruptcy filer will have to do some leg work, account for income and expenses, provide pay stubs for the seven […]
