Blog Posts in April, 2010
Posted on Apr 30, 2010 By Jacoby & Jacoby
In order to get reimbursed during a Chapter 13 Bankruptcy , a creditor needs to file a proof of claim to the court. A proof of claim can be a contract, invoice or other document that shows a debt is ...
Continue reading "How Does a Creditor Get Reimbursed During Bankruptcy?" »
Posted on Apr 29, 2010 By Jacoby & Jacoby
Who doesn't like to save money when they can? We came across this list of useful money tips on CNN and wanted to share it with our readers. Click here to read the story. Did you know that when you ...
Continue reading "21 Best Money Tips" »
Posted on Apr 28, 2010 By Jacoby & Jacoby
Some debts cannot be discharged in a bankruptcy.
Continue reading "Watch Me Wednesday: Limits of Bankruptcy " »
Posted on Apr 27, 2010 By Jacoby & Jacoby
If you are already renting a home or apartment, normally your landlord will renew your lease without running a new credit report and will most likely not even know you have filed bankruptcy. If you ...
Continue reading "Will I Still be Able to Rent an Apartment After I File Bankruptcy?" »
Posted on Apr 26, 2010 By Jacoby & Jacoby
With the unemployment numbers skyrocketing, it will be much harder for students to land a summer job this year. We recently came across this article from USNews.com with great tips for jobseekers this ...
Continue reading "Tips to Find Summer Jobs In Tough Times" »
Posted on Apr 23, 2010 By Jacoby & Jacoby
We hear this a lot. It is usually what keeps people from even coming in for a consultation with us at first. Everyone deserves a fresh start and that is exactly what bankruptcy is. Many times, ...
Continue reading "Does Filing Bankruptcy Make Me a Bad Person?" »
Posted on Apr 22, 2010 By Jacoby & Jacoby
Despite receiving lower monthly payments through the government's loan modification program, the number of homeowners who have defaulting on their mortgages nearly doubled last month, according to ...
Continue reading "NY Times Reports a Rise in Defaults in Loan Modification Program" »
Posted on Apr 21, 2010 By Jacoby & Jacoby
There are three main types of bankruptcy cases for individuals, the most common of which are chapter 7 and chapter 13 .
Continue reading "Watch Me Wednesday: Types of Bankruptcy " »
Posted on Apr 20, 2010 By Jacoby & Jacoby
Despite an improved employment picture, consumers faced increased economic difficulties in their lives, according to the Consumer Reports index for April. "This month we have the first real sign that ...
Continue reading "Consumer Reports Index: Job Market Improves But Consumers Still Face Economic Difficulties" »
Posted on Apr 19, 2010 By Jacoby & Jacoby
No. Often times, debt collectors tell you on the phone that you cannot file bankruptcy until you pay them to get current. Don't listen to them. These people are not working for you, Think about it, ...
Continue reading "Do My Bills Need to be Current to File Bankruptcy?" »
Posted on Apr 16, 2010 By Jacoby & Jacoby
The straightest answer we can give is YES! You must list EVERYTHING you own when you file bankruptcy, even when (and especially if) you intend on keeping it. Even though people sometimes file ...
Continue reading "If I Intend to Keep Paying For My Home, Do I Have to List It?" »
Posted on Apr 15, 2010 By Jacoby & Jacoby
According to the Wall Street Journal, consumer bankruptcy filings in March were at their highest monthly numbers since 2005. You can read the story on WSJ.com here . Take our Bankruptcy Evaluation to ...
Continue reading "Bankruptcies on the Rise Again" »
Posted on Apr 13, 2010 By Jacoby & Jacoby
This is a common question. Plain and simple, the answer is no! We understand that you may like to use a credit card for travel or everyday purchases, and even if it is paid in full at the end of the ...
Continue reading "Can I Keep One of My Credit Cards During Bankruptcy?" »
Posted on Apr 12, 2010 By Jacoby & Jacoby
We understand how you feel about your car. It is one of your most important possessions. Of course you want to keep it when you file a bankruptcy case. Automobile finance companies are very interested ...
Continue reading "I Have a Car Loan. Why Do I Have to Reaffirm it?" »
Posted on Apr 9, 2010 By Jacoby & Jacoby
There are situations in which an attorney in fact (the person who holds the power of attorney) can file a bankruptcy on behalf of an individual, or attend to certain duties of a debtor in bankruptcy. ...
Continue reading "Can I Use a Power of Attorney to File a Bankruptcy?" »
Posted on Apr 8, 2010 By Jacoby & Jacoby
The short answer to this question is yes, but there is a right way to do it and a wrong way to do it. If you would like to make an extra payment every once in a while, that’s OK. However, if you want ...
Continue reading "Can I Pay Off My Chapter 13 Bankruptcy Early?" »
Posted on Apr 7, 2010 By Jacoby & Jacoby
Senior Managing Partner Melvyn Jacoby discusses this common question.
Continue reading "Watch Me Wednesday: Can I Buy a Home After Bankruptcy?" »
Posted on Apr 6, 2010 By Jacoby & Jacoby
Being in a car accident is bad enough as it is, but can be even more problematic is you are in Chapter 13 Bankruptcy when it happens. The most important thing to do is let your attorney know. The ...
Continue reading "What Happens if I’m in a Car Accident While I’m in Chapter 13 Bankruptcy?" »
Posted on Apr 5, 2010 By Jacoby & Jacoby
A common question we get from clients is whether or not they can keep or even open bank accounts during the bankruptcy process and after. There is nothing in the bankruptcy law that prevents you from ...
Continue reading "What Happens to My Bank Accounts in Bankruptcy?" »
Posted on Apr 2, 2010 By Jacoby & Jacoby
When a Chapter 7 Bankruptcy petition is filed, the U.S. trustee appoints an impartial case trustee to administer the case and liquidate the debtor's nonexempt assets. The primary role of trustee in an ...
Continue reading "What Does the Case Trustee Do?" »
Posted on Apr 1, 2010 By Jacoby & Jacoby
A creditor may freeze your bank account in an attempt to obtain payment for a debt. They may freeze up to two times the amount of money you owe, and you will be unable to access this money. Any ...
Continue reading "What to Do if Your Bank Account has Been Frozen" »