Receiving a motion to dismiss while in a bankruptcy can be a scary or anxiety-inducing situation.  A motion to dismiss (often abbreviated as an MTD) could result in your bankruptcy being dismissed prior to the discharge taking place, which is rarely ever an outcome that you would like to see occur.  Thus, when you receive notice of a motion to dismiss, you may often wonder whether avoiding dismissal is possible and what steps you must take to ensure that dismissal does not occur.

When you can’t pay your debts, your creditors can take legal action against you to recover the money you owe. Your creditors will often file a lawsuit against you. If your creditor obtains a judgment against you they will be able to take action to enforce that judgment. This can include wage garnishments or seizing money from bank accounts. 

Something that is frequently contemplated by anyone who might be considering a bankruptcy filing is the extent to which the bankruptcy will impact their existing car loan or lease.  You might wonder whether you can preserve the loan throughout the bankruptcy discharge process, or whether arrears on the vehicle loan can be caught up or paid off through the bankruptcy.  In brief, the answer is that yes, you can certainly preserve your vehicle and similarly, you may also be able to either catch up or pay off your car loan, depending on the chapter of bankruptcy that you file.  

Lenders commonly ask for a co-signer. A co-signer is someone who agrees to be legally responsible for repaying a debt if the primary borrower defaults. A co-signer takes on equal responsibility for the loan, this means they are obligated to make payments if the primary borrower cannot. Common examples are parents co-signing for their children’s student loans or auto loans, or a friend co-signing a lease. 

Something that many people wonder when filing bankruptcy is the extent to which it can assist them in addressing any existing judgements that they might currently have related to collection actions.  Judgements are frequently pursued by creditors during the collections process because they allow the creditor to do things like access wages or bank accounts to collect from the person who the judgement is held.  Thus, when considering bankruptcy it is very common for anyone who is going through the process to wonder how the bankruptcy filing can assist them with any judgments that might currently exist.  

If you are considering filing for bankruptcy, you may be wondering if your assets and property will be protected. If you have a health savings account (HSA), you may be wondering whether or not you will be able to keep those funds. 

Confirmation hearings are a fundamental part of any Chapter 13 Bankruptcy.  They are the mechanism through which a proposed Chapter 13 plan becomes official, allowing the bankruptcy to proceed and opening the path towards the eventual bankruptcy discharge.  They occur any time that a new plan is proposed, and invariably follow a 341 hearing (also referred to as a first meeting of creditors) when the Chapter 13 bankruptcy is filed.  When notified of this hearing, many wonder whether it is something that they must attend, or whether the bankruptcy plan will be negotiated or modified by the parties involved when the hearing takes place.

Whether you file a chapter 7 or a chapter 13 bankruptcy you will be required to attend a 341 Meeting or meeting of the creditors. This is a 5-10 minute meeting with the bankruptcy trustee and an attorney will be there with you. It is called a meeting of the creditors but few creditors actually attend the meeting. Most of the time individuals can expect that no creditors will be present. 

When considering the possibility of filing bankruptcy, one of the most common things to contemplate before beginning the process is how much it will ultimately cost to do so.  This is an important question, and the answer will depend on a number of different factors, including the chapter of bankruptcy that you file, the nature of your financial circumstances at the time of filing, and the fee structure of the law firm that you retain to assist you.  There are a number of other factors that can sometimes affect the cost of filing in certain circumstances, but these are the primary determining factors involved.

You may be wondering if you will ever be able to purchase a home after filing for bankruptcy. Many people believe that they will never qualify to purchase a home after filing a bankruptcy. However, this simply isn’t true. After filing you can own a home, purchase a new car, or obtain credit if you wish to do so. 

Operating a small business can be both a rewarding and challenging experience.  There are any number of factors that go into both creating and sustaining a small business, not least of which is ensuring that the business is adequately funded.  Because of this imperative, many small business owners take out loans to ensure that their business has a sufficient amount of operating capital, both when starting up, and when engaged in their ordinary course of their operations.  This leads to the necessary question; am I personally responsible for these debts?  

One of the most common myths surrounding bankruptcy is that it is harmful for everyone involved. People often associate bankruptcy with irresponsibility and dishonesty. Many people assume that bankruptcy causes widespread harm for individuals and creditors. While there can be bad actors on both sides, this is generally not the case. 

Something that people frequently wonder when considering the possibility of a bankruptcy filing is the extent to which bankruptcy will affect their ability to take out new loans post-filing.  Among the various types of loans that are considered under such circumstances, perhaps the most common that people may typically ponder are car loans.  In brief, the answer is that bankruptcy does not inherently limit your ability to take out a vehicle, as there is no provision of the bankruptcy code that prohibits you from incurring a new loan after filing.  However, there are still several other things to consider in practical terms when analyzing this, including the chapter of bankruptcy filed.

Something that many people ask themselves when contemplating the bankruptcy process is when the right time will be to file.  People may wonder if there is a specific amount of debt that would typically lead to a filing, or whether a creditor taking a specific action, such as bring a lawsuit for collections, is necessary prior to beginning the bankruptcy process.  The answer to these questions is simple; there is no single set of circumstances that dictates the best time to begin the bankruptcy process.  Rather, the best time to consider a bankruptcy filing is when you ready to free yourself of the burdens associated with overwhelming debts, and give yourself your life back. 

There are some topics you simply don’t want to discuss with your employer. Bankruptcy is often one of them. A common concern for those considering filing bankruptcy is whether their employer will receive notice they have filed. 

“Is Bankruptcy Right For Me?” – This is a question that is frequently asked by those who may be experiencing financial hardship or dealing with the burdens imposed by unmanageable debts.  To analyze this query we must first evaluate what bankruptcy is; which is to say we must consider both how the bankruptcy process works and the purpose that it serves.  With regard to the latter, bankruptcy is a legal process established under federal law that exists to provide relief to those who find themselves struggling with overwhelming debt.