Photo by Jp Valery on Unsplash. It’s all too easy to think you’re doing the right and smart thing to pay your stimulus payment to creditors. Here are examples when it’s not. Before You Make Decisions That Hurt You Last week we introduced the radical idea that the best use of your upcoming or already received $1,400 stimulus payment might … Read More
Photo by Mubariz Mehdizadeh on Unsplash. As surprising as it may sound, putting your new $1,400 stimulus payment into the cost of bankruptcy may be your very best use of that money. Last week Congress passed the American Rescue Plan Act and President Biden signed it into law. Among Its many parts is the $1,400 per person stimulus payment—officially called … Read More
Photo by Ian Espinosa on Unsplash Bankruptcy only includes debts that you owe at the time you file your case, not new debts you incur after filing. So timing is crucial. In last week’s blog post we introduced how to time your bankruptcy filing. We gave a list of 15 examples of timing considerations. Today we start with the first … Read More
Photo by Monica Sauro on Unsplash There are many timing considerations when it comes to filing your bankruptcy case. Some can be real game changers. Here are 15 of them. Five weeks ago we started a series on why you should get legal advice from a bankruptcy lawyer. We’ve also been making a point of showing why it’s smart to … Read More
Smart timing of your Chapter 13 case can reduce its length by as much as two years, saving you tons of money and letting you get on with life. In our last blog post we explained how your last 6 calendar months of income can determine whether your Chapter 13 payment plan lasts 3 years or instead 5 years. … Read More
A possible preference mess is the forced repayment of your pre-bankruptcy payment to a relative or friend. Here are two solutions. Last week’s blog post introduced an uncomfortable problem: preference payments to a friendly creditor. (If you haven’t already please read that one before reading further here.) The Solutions We ended that blog post by listing and giving short … Read More
A bankruptcy covers the debts that exist as of the time your case is filed, not future debts. So how do you know when to file your case?
This 4th of July follow the Declaration of Independence and claim your right to “Life, Liberty and the pursuit of Happiness.”