Tag Archives: Chapter 13

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

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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

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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

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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

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Myth No. 2: You Can Only File For Bankruptcy Once.

You can only file for Bankruptcy once!  This is not true. However, there are limitations on how often you can file a bankruptcy. If you have received a discharge in a Chapter 7 bankruptcy, you cannot file for a Chapter … Continue reading

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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

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