Posts made in March, 2015


As a rule, when I speak to someone about bankruptcy, we discuss “secured” and “unsecured” debts. The debts owed to the creditor are secured by an item used as collateral are “secured” and most others are “unsecured” (like medical bills or credit cards). The most common secured debts are car loans, car title loans, home mortgages, or furniture loans. Most people are concerned about keeping their vehicle and that is understandable...

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When you file for bankruptcy, something called the “automatic stay” immediately stops any lawsuit filed against you and most actions against your property by a creditor, collection agency, or government entity. Especially if you are at risk of being evicted, being foreclosed on, or having your wages garnished. Once the automatic stay goes into effect, then creditors may not contact you to demand payment. The constant...

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