Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

August 25, 2012

President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 into Law on April 20, 2005. Most of the provisions of this new act will come into effect in180 days after the day of enactment. Thus, October 17, 2005 is the effective date for the new law. Our Office prepared an informative […]

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Different Ways to Deal With Your Mortgage Arrears and Other Liabilities

August 22, 2012

This article is written in response to the numerous readers’ questions regarding the ways to save the house when the times get tough and homeowners fall behind on their mortgage obligations. It is not a secret that the amount of foreclosure sales in the country is at its highest level, and a lot of people […]

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Reaffirmation Agreements

August 21, 2012

Reaffirmation Agreements allow debtors to retain dischargeable prebankruptcy debts; debtors sign reaffirmation agreements because they voluntarily decide to pay off their prebankruptcy debts even though they are dischargeable. In some cases debtors retain debts for moral reasons, however, the majority do so in order to keep their property or to continue a relationship with a […]

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Discharge of Unfiled Taxes under the Bankruptcy Abuse Prevention and Protection Act of 2005 (BAPCPA). No More “Super” Discharge?

August 21, 2012

The basic concept of a chapter 13 bankruptcy filing historically was to allow individual debtors to reorganize their finances. The policy of giving the debtor a chance to have a fresh start was foremost behind Congress’ intent to provide the debtor with a broad discharge of his/her debts incurred through false representation, fraud or recent […]

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Post-Bankruptcy Filing Debtor Education

July 10, 2012

Chapter 13 bankruptcy is also known as the “wage earner bankruptcy.” It lets an individual to keep property such as a house, and repay debts over an allotted period of time, such as three to five years. Chapter 7 bankruptcy is for those who do not have many assets they want to keep.  After filing […]

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