What is a Reaffirmation Agreement?
In bankruptcy, a reaffirmation agreement refers to a contract between the debtor and a secured creditor. The reaffirmation (or “reaff”) is an agreement that waives the discharge of a debt that would otherwise be discharged. They allow the debtor to keep collateral that may otherwise be subject to repossession. Reaffirmation agreements are usually filed on […]
Bankruptcy and Marriage
When a spouse is involved, filing bankruptcy can be significantly more complicated than filing a simple individual bankruptcy. The intersection of bankruptcy and marriage can create complicated circumstances for both spouses. In many cases, a married couple may find themselves entering into complex legal territory when considering bankruptcy. There are four major factors that affect […]
You Can’t Be Fired for Filing Bankruptcy
You can’t be fired for filing bankruptcy. The Bankruptcy Code expressly prohibits your employer from discriminating against you for filing for bankruptcy protection. The Code has two separate provisions. The first one deals with public employers, that is, the government. And the other code section deals with private employers. Both Bankruptcy Code sections make it […]
Discuss Bankruptcy With Your Family
Families can face strain when a member of the family faces bankruptcy. Financial problems often lead to damaged relationships and sometimes even divorce. When considering whether to file for bankruptcy, be sure also to weigh the effect it will have on your family. Be sure to discuss bankruptcy with your family if you’re considering filing […]
File a Chapter 7 Bankruptcy: A Step-by-Step Guide
You may be aware that bankruptcy involves a complex set of laws and procedures specific to each individual jurisdiction. Filing for bankruptcy may seem daunting at first. If you are considering filing Chapter 7 bankruptcy in DC, Maryland or Virginia, read below for the ten steps of a successful Chapter 7 bankruptcy. The steps to […]
Should I File Bankruptcy?
Bankruptcy is not for everyone, and not a decision to take lightly. Over three quarters of a million Americans will declare bankruptcy in 2017. But how do you know if bankruptcy is right for you? If you find yourself asking, “Should I File Bankruptcy?” then read on. Here are a few questions you should ask […]
Stop Car Repossession
You will probably want to stop car repossession if you have defaulted on your vehicle loan. If you stop making car payments, your financing company will repo your vehicle. No joke. Vehicle finance agreements are usually rock solid, and the finance company has all the power. Car repossession can happen without advance warning and without going […]
Top 10 Myths About Bankruptcy
If you are considering filing bankruptcy, consult with an attorney to help you understand your options. You should not take lightly the choice to file bankruptcy. But you should also not dread bankruptcy for the wrong reasons. Don’t fall prey to fake news. It’s time to dispel a few myths about bankruptcy. Myth 1: You will […]
Homeowners Association Fees in Bankruptcy
Even if you file bankruptcy and surrender your home, in some cases, your homeowners association can still pursue you for unpaid dues. In Washington, D.C., Maryland and Virginia, homeowners associations have a “superpriority” for unpaid dues. Up until title to the home is actually transferred, you will still owe HOA or condo fees. So what […]