Steven J. Richardson | May 13, 2010
One of the intimidating parts of a chapter 13 bankruptcy is the plan of repayment, which can be anywhere from three (3) to five (5) years long, depending on your circumstances. People fear that they are locking in to something now that they might not be able to afford in a year or two due [...]
Steven J. Richardson | May 10, 2010
There is no question that most Americans want to avoid filing bankruptcy at all cost. Although “the B-word” has lost most of its stigma, and some consider filing it casually (some doing it more than once), the vast majority will do anything else first (and some of those options can have some long term consequences). [...]
Steven J. Richardson | April 19, 2010
There is one very common concern among my clients that are preparing a chapter 13 bankruptcy plan of repayment: Is this written in stone? Will I have to make this payment no matter what for the next three (or five) years? The answer is, in most cases, no. The courts understand that things happen in [...]
Steven J. Richardson | April 1, 2010
Someone filing bankruptcy does not necessarily lose everything they own and, contrary to popular myth, you do not automatically lose your house because you filed. This is because of a feature of the bankruptcy code called “exemptions.” These are protections against the liquidation of assets by creditors that exist in both federal and state law. [...]
Steven J. Richardson | March 5, 2010
Many people don’t realize this when they apply for the account, but credit cards with retail outlets like Best Buy and furniture stores like Raymour and Flanagan grant a lien (just like on a house or a car) to the bank on anything you purchase with it. This might not make a difference to you, [...]