One great benefit of bankruptcy is the ability to remove a judgment lien from your home. It’s almost as helpful as writing off that debt. The Problem, and the Bankruptcy Solution Do you have a judgment lien on your home? If so, the debt on that judgment is secured by whatever equity you have in your home. The debt … Read More
Bankruptcy helps with more than just your mortgage. You can avoid, or deal constructively with, judgment, income tax, support and HOA liens. Last week we gave you 7 ways that bankruptcy can either save your home now or protect it going forward. Here are the remaining 8 ways (#8 through #15), mostly involving involuntary liens placed on your home … Read More
Usually you can’t change a secured debt into an unsecured one, even in bankruptcy. But you often CAN remove a judgment lien from your home. We’re on a series of blog posts about the powerful but less obvious benefits of bankruptcy. Bankruptcy can do much more than just give you immediate and long-term relief from your debts. Today we … Read More
How filing bankruptcy immediately protects you and your assets from collection attempts by your creditors.
Bankruptcy protects your paycheck because it’s more powerful than the creditor’s garnishment court order. Bankruptcy Stops Wage Garnishments A garnishment is effectively a court order which tells your employer to pay a portion of your paycheck to the creditor instead of to you. Except in rare circumstances, a creditor can’t get that garnishment order without first suing you and getting … Read More
Getting sued by a creditor is a wake-up call to consider filing bankruptcy. If it is the right thing to do, there are advantages to filing before your deadline to respond to the lawsuit. If you get sued by a creditor, as discussed in my last blog it’s dangerous both short-term and long-term not to consult with an attorney. … Read More