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August 17, 2016 | KEEPING PROPERTY IN A CHAPTER 7 BANKRUPTCY

One of the considerations you will face as you and your attorney at The Nesbitt Law Firm determine whether a Chapter 7 bankruptcy filing is right for you, is how a Chapter 7 filing will affect the property you own. The property that you own, but are still making payments on is called collateral and the loan is called a secured debt. In Chapter 7, you have three basic options regarding collateral of a secured loan: reaffirm, redeem, or surrender. What does it mean to reaffirm, redeem, or surrender secured collateral in Bankruptcy? What should

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August 17, 2016 | WHAT ARE THE EXCEPTIONS TO DISCHARGE IN BANKRUPTCY?

The purpose of filing bankruptcy is to eliminate debt. However, the Bankruptcy Code provides for certain exceptions to discharge. In other words, even if you file bankruptcy and are granted a discharge where your debt is eliminated, you may still owe certain types of debt. Only an experienced bankruptcy attorney can advise you as to whether your debt will be discharged and eliminated at the end of your case. However, for general purposes, you can expect to remain liable on the debt listed below, even after you file and receive a discharge in bankruptcy: Student

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August 17, 2016 | WHEN IS THE RIGHT TIME TO FILE BANKRUPTCY?

While filing for bankruptcy can be an excellent debt relief solution for many individuals and couples, sometimes the timing of filing can make or break your case. For some, it makes sense to file for bankruptcy right away; for example, when a foreclosure or vehicle repossession is right around the corner, but in other circumstances it may save you a lot of money if you wait. Whether that waiting period is a matter of days, weeks, or months will depend on the facts of your case. If you are considering filing for bankruptcy protection and

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August 10, 2016 | MY GAMBLING PROBLEM HAS GOTTEN ME INTO DEBT. CAN I FILE BANKRUPTCY?

There is a certain allure to gambling, the promise of a big payout can be extremely enticing, especially when you are on vacation in Las Vegas or Atlantic City and your usual guards are down. Whether it’s playing the lottery or the slots, sometimes people think that if they spend just one more dollar, they could hit the jackpot and wash all of their financial woes away. While some people do win when they gamble, many more lose and unfortunately when we turn to gambling to either feed our addictions or solve are financial problems,

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August 10, 2016 | WHEN IS THE RIGHT TIME TO FILE FOR BANKRUPTCY?

The benefit to filing for bankruptcy is the fresh start it provides to those that have gotten behind on important payments. However, simply being a little behind does not mean that you should file for bankruptcy. Making this claim involves significant thought and consideration about the potential outcomes. FILING FOR BANKRUPTCY SHOULD BE THE LAST RESORT The first step before choosing to file is to look at all your available options. Knowing what kinds of debt you have can help you develop a plan to remove the debt and understand how filing for bankruptcy can

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