Tag Archives: Bankruptcy

Myth No. 7: If you file for Bankruptcy, you will never be able to get any new credit for anything.

You can get credit after you file for bankruptcy. It takes time to re-establish credit, but you can if you want to get credit. I say ” if you want to get credit” because it is a very tempting to start … Continue reading

Posted in Bankruptcy | Tagged , , , , , , | Comments Off on Myth No. 7: If you file for Bankruptcy, you will never be able to get any new credit for anything.

Bankruptcy Myth No. 6: You can no longer stop a foreclosure by filing for Bankruptcy.

The bankruptcy myth that you can no longer stop a foreclosure proceeding by filing for bankruptcy is simply no true!    Both a Chapter 7 bankruptcy and a Chapter 13 bankruptcy will stop a foreclosure, but with different long term results. … Continue reading

Posted in Bankruptcy | Tagged , , , , , , , , , | Comments Off on Bankruptcy Myth No. 6: You can no longer stop a foreclosure by filing for Bankruptcy.

They Went Broke Too! Jasmine Guy.

Jasmine Guy, best known for her role as Whitley Gilbert in the late 80’s, early 90’s TV series,  A Different World,  has filed for Chapter 13 bankruptcy. The bankruptcy results in part from financial problems following a recent divorce. A … Continue reading

Posted in Bankruptcy | Tagged , , , , , , | Comments Off on They Went Broke Too! Jasmine Guy.

They Went Broke Too! William Jefferson

Recently convicted U.S. Representative William “Bill” Jefferson, has filed for Chapter 7 bankruptcy protection along with his wife.  The bankruptcy was filed on August 27, 2009 in the Bankruptcy Court for the Eastern District of Louisiana, which is the bankruptcy … Continue reading

Posted in Bankruptcy | Tagged , , , , , , , , | Comments Off on They Went Broke Too! William Jefferson

Myth No. 3: Credit Card Debts Can No Longer Be Discharged In A Bankruptcy.

One of the misconceptions some clients have is that credit card debts can no longer be discharged in a Bankruptcy. This myth comes from changes in the Bankruptcy Code from when the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was … Continue reading

Posted in Bankruptcy | Tagged , , , , , , | Comments Off on Myth No. 3: Credit Card Debts Can No Longer Be Discharged In A Bankruptcy.

Myth No. 1: You Can No Longer File For Bankruptcy.

Since the bankruptcy laws were changed in October of 2005 I have had several clients that were told they could no longer file for Bankruptcy. This is simply untrue, but with almost four years since the changes in the bankruptcy … Continue reading

Posted in Bankruptcy | Tagged , , , , , , , | Comments Off on Myth No. 1: You Can No Longer File For Bankruptcy.

Myths About Bankruptcy!

I am often surprised by some of the misconceptions that people have about bankruptcy. Below are some of the more common bankrutpcy myths that I have heard: You can no longer file for Bankruptcy. You can only file for Bankruptcy … Continue reading

Posted in Bankruptcy | Tagged , , , | Comments Off on Myths About Bankruptcy!

Senators Landrieu And Vitter Vote To Reject Mortgage Cram Down Bill!

Louisiana Senator Mary Landrieu and Senator David Vitter both voted today to reject the Helping Families Save Their Homes Act of 2009. This bill would have permitted bankruptcy judges to modify home mortgages to allow families to keep their homes. … Continue reading

Posted in Bankruptcy | Tagged , , , , , , , , | Comments Off on Senators Landrieu And Vitter Vote To Reject Mortgage Cram Down Bill!

Can I Keep My Car If I File For Bankruptcy?

Will you be able to keep your car if you file for bankruptcy in Louisiana?  In most cases, the answer is yes! First, in any bankruptcy proceeding, the debtor can keep the items of property that he owns that are … Continue reading

Posted in Bankruptcy, Louisiana | Tagged , , , , , , , , , | Comments Off on Can I Keep My Car If I File For Bankruptcy?

What Is A Chapter 13 Bankruptcy?

A Chapter 13 Bankruptcy is generally used by a debtor who is behind on payment of a secured debt such as a mortgage or a car note.  The debtor using a Chapter 7 bankruptcy creates a payment plan to catch up on … Continue reading

Posted in Bankruptcy, Louisiana | Tagged , , , , , , , , , | 2 Comments