BANKRUPTCY VIDEOS
- Introduction to Bankruptcy
- Types of Bankruptcy
- Limits of Bankruptcy
- Filing for Bankruptcy
- Meeting of Creditors
- Bankruptcy Court Hearings
- The Bankruptcy Discharge
- The New Bankruptcy Law
- The Credit Damage Myth
- Chapter 7 Bankruptcy Explained
- Chapter 13 Bankruptcy Explained
Blog
- Bankruptcy Options For Automobiles
- How Often Can I File for Bankruptcy?
- Will Filing Bankruptcy, Cause Me To Lose My Recreational Vehicle(s)?
- Am I Better Off Trying to Work with a Credit Counseling Agency?
- Will I Lose My Retirement Account If I File Bankruptcy?
A commonly overlooked benefit of bankruptcy is how it can modify the obligations you owe on your motor vehicles / automobiles. Many people who come to... Read more
How Often Can I File For Bankruptcy? You can file for Bankruptcy multiple times. However, certain time restrictions apply. These time restrictions... Read more
Assuming you own the recreational vehicle free and clear or have substantial equity in it, the answer as to whether you will be able to keep it depends... Read more
Honestly, I cannot think of any situation where working with a credit counseling agency would be better than filing bankruptcy. I would suggest pursuing... Read more
In nearly all bankruptcy cases, you will not lose your retirement account. The bankruptcy code specifically provides certain exemptions. These bankruptcy... Read more
How Bankruptcy Law Protects You
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Eliminate Your Second or Third Mortgage
If you owe more on your home than it is worth, you may be able to eliminate your 2nd or 3rd mortgage or Home Equity Line of Credit (HELOC). Wouldn’t it be much easier to save your home if you only had a first mortgage and no other payments? Wouldn’t it be nice to benefit when the market turns around and gain equity instead of waiting to get turned right side up on your home?
Lien stripping is a process that allows a homeowner to eliminate tens to hundreds of thousands of dollars of debt. For example if your second mortgage has an outstanding principal balance of $100,000.00 and your home is more than $100,000 upside down, you could eliminate your entire second mortgage through bankruptcy. This is done by a process known as “Lien Stripping.” For more information, follow this link on Lien Stripping.